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Like the saying goes, “The only things certain in life are death and taxes.” Unfortunately, small businesses know this saying all too well.

Unlike employees who look forward to their refund every April, small businesses loath the approaching spring, knowing they will have to pay Uncle Sam its share of their profits. Each year, small businesses struggling to turn a profit in an increasingly competitive business environment must pay taxes in order to keep their doors open.

With dwindling profit margins and tightened lending restrictions, however, many small business owners find themselves between a rock and a hard place when it comes time to pay the tax man. Although a business may have steady sales and revenue or thousands of dollars in inventory, banks and traditional lending institutions simply aren’t handing out small business loans like they were in year’s past, leaving small business owners with few funding options to pay their tax bill.

Thankfully, peer-to-peer lending, or social lending, has solved this growing dilemma. These modern social lending marketplaces have connected millions of borrowers with individual investors. Borrowers receive low-interest, fixed-rate loans that can be paid off in two to five years, while investors are able to benefit from decent returns in an economy with sinking bond and savings rates.

Thus, it’s a win-win situation for both small business owners in need of immediate funding and investors looking to make a small profit while helping others.

From Desperation to Exultation: One Man’s Venture into Peer-to-Peer Lending

John Mitchell is an Ohio-based small business owner who found himself in such a predicament just last year. As the owner of the only hardware store in a small town, John’s store flourished the first few years it was open.

After getting his inventory levels, pricing models, and management just right, he decided to expand his business by opening a second location in a neighboring town. John sunk all of his profits into opening his new store, which meant he was short on funds come tax time. However, knowing the success of his business, he thought he would simply get a small loan from the bank that housed his accounts and provided him with the initial loan he used to launch his business four years earlier.

Unfortunately, he witnessed first-hand the effect the recession has had on lending regulations as the banker he’s known for years denied his loan application. If he couldn’t get a loan there, where could he?

On the brink of despair, John took to the Internet to research loan options. After digging through forums and trying a few different searches, he ran across peer-to-peer lending. In less than a week after going through the quick and easy application process, he received a personal loan at a low rate for the amount he needed. A week later, John sent a check for the full amount to the IRS, and less than eight months later, he was able to pay off the loan with the profits from his new store!

If you are a small business owner who has found yourself in a similar circumstance, peer-to-peer lending can do the same for you as well, but how does peer-to-peer lending work?

How Peer-to-Peer Lending Works

A breakthrough product or service emerges every generation, and in the early 2000′s, the emerging breakthrough was social networking. From helping in the organization of overthrowing political regimes to staying in touch with friends and family members, social networking has had a profound effect on our daily lives. Now, it’s changing the small business financing landscape as well.

Peer-to-peer lending is a modern social networking solution for small businesses in search of a way of securing alternative funding. The goal of peer-to-peer lending sites, such as Prosper and Lending Club, is simply to connect individual investors with those in need of funding, and these sites are becoming an increasingly useful tool for small business owners who are unable to secure funding from traditional lenders.

Rather than jumping through endless hoops only to be denied by a bank, small businesses can receive funding via peer-to-peer lending in no time at all by following three simple steps:

Step 1: Create a Profile and Loan Listing

There are a myriad of peer-to-peer lending networks to choose from, so your first step is to research the best ones and create a profile and loan listing on the site you choose. The loan listing is essentially a cost-free ad that indicates the amount of money you need and your desired interest rate.

Step 2: Let the Bidding Process Begin

After your listing goes live, investors have the opportunity to begin bidding on your listing, providing you with the interest rate and loan amount they are willing to offer you. A major advantage of this bidding process is the fact that it can intensify as more and more lenders begin competing for your business.

When this happens, interest rates will begin dropping, potentially allowing you to obtain a much lower interest rate than you expected. It’s important to note, however, that your credit score, income, and debt-to-income ratio plays a role in the lending decision process.

Step 3: Funding and Paying Back the Loan

Another benefit of borrowing from peer-to-peer lenders is that you can accept several bids to receive your requested loan amount. For instance, if you ask for $10,000 in your loan listing to pay your business taxes, you can acquire the amount from collecting $2,000 from five different borrowers.

This makes it much easier for borrowers to receive the money they need. However, instead of making five separate payments, you would only make one payment, because the peer-to-peer lending site is responsible for dispersing the money to lenders until loans are repaid in full. They simply charge a small fee for this service.

With increased lending regulations, banks are tightening their purse strings more than ever before, making it much more difficult for small businesses to receive the funding they need to expand their business or even pay their taxes. Thankfully, peer-to-peer lending has proven to be a worthy competitor in the small business lending marketplace. If you are a small business owner and find yourself unable to pay your taxes as April approaches, or backed taxes for that matter, a peer-to-peer loan is an ideal option.

There are specific steps you must take before you can succeed with your home based business. Specifically, you will have to establish and operate a system that ensures success. Does this sound like you? Are you the kind of person who hates giving a reason why something did not or could not work?Someone who will not accept anything less than continuing success? Do you set goals and press on till they are met, no matter what? One who refuses to accept less from others than you accept from yourself? Then you are going to give home business a serious shot.It is not going to be totally easy, of course, but with these traits flowing in you, you can meet the challenges required to succeed with a home business.Give It Your Time: It does not matter if your home business is not your main source of income at the moment, having decided to start one, you must treat it as something truly important to you.Now, when someone or something is important to us we spend quality time with them, right? Your attitude toward your home business cannot be any different.Probably you can only devote a few hours per week to your home-based business. But work on it EVERY SINGLE DAY. There is really no substitute for persistent dedication in this business. No one who gives it only the odd hours can see success. It has never happened for anyone. A casual attitude towards their home business is one reason why over 95% of newcomers soon exit.Select the Right Company: We are constantly assaulted these days to join one network opportunity or the other. Opportunities seem to abound everywhere. But their genuineness is another matter. To make your home business work, however, you have to be very selective about the company you decide to join. It is really strange how casually people treat this matter.Many seem to act as if it does not matter which company a person joins, as if all network marketing companies are just different roads leading to the same place! How mistaken! Do not join any company unless the answer to all the questions below is yes:Does the company possess the fundamentals for continuous long-term growth? Is there a large and expanding market for their products? Are their products things that people GENUINELY need?Will people have to re-order the products at fairly quick intervals (as opposed to one-time sales)?Do their products attract positive feedback from users?Other things to consider include the nature of their support system, availability of cheaper alternatives to their products, as well as how easy it is for new members to duplicate their sales methods.Teach Your Downline: If your home-based business involves recruiting new members, then bear in mind that your success is intricately tied to theirs. This is both an asset and a liability.There seems to be this baseless notion among most persons that in network marketing one can go on to prosper without doing much of anything at all. Well, I am sure you do not believe any of that crap.Meanwhile, ensure that the people you recruit do not believe that either. Otherwise they will not work for their success, dragging you down with them. Insist that they commit themselves to following a success plan, just like you. Train them on ways to grow in the business.Above all, do not recruit and abandon your downline! Have Some Money? It is often been said that it takes money to make money. Forget what you have been told: home business is no exception.Yes, the financial requirements here may not be in the thousands. But you DO need some money to begin with. You will surely need to pay to register with the company, to make monthly product purchases, prospect for and follow up on leads. All these call for money. In my opinion you will need an average of $200 per month to meet these obligations. And they are important to building your business.Home-based businesses are not inherently difficult to run. You only need to have a system in place and adhere to it. You should also teach those your recruit to do the same. In that case, you can make a home business work for you and your team.

The Thrill Of The Catch

If you haven’t fished before, you don’t know what you’re missing. If you did, you would be a fisherperson.

Not only does it bring you closer to nature, there’s the thrill of the catch. Imagine standing on the bank of a stream on a beautiful day, your rod bending under the weight of a good catch. This one’s a fighter and you take your time, allowing the fish to tire itself out before reeling it to shore. When you finally land it, you realize you’ve just caught the biggest fish of your life. It’s a great feeling and 1 you’ll never know until you give fishing a try.

Learning How To Fish

Now that I have your interest, perhaps you realize that you don’t have a clue how to go about fishing. Well, that’s what I’m here for. If you want to learn to fish, here are 5 easy ways:

* Ask a family member or friend who is an experienced angler to take you along the next time they go fishing — they will be thrilled to have a new fishing buddy

* Research online — there are hundreds of websites with instructions on fishing gear, bait, and fishing tips

* Go to your local library and check out how-to fishing books and magazines

* Check your local conservation or wildlife service — they often hold a fishing day where beginners can learn the basics of fishing.

* If you go on vacation in fishing country (which is darn near anywhere), check with local fishing stores — they often know local professionals who will teach you how to fish.

When To Go Fishing

Anytime is a good time to fish; you never know what you might catch.

Some species are more active near dawn and dusk when they are feeding, while others will bite any time of the day.

Certain times of the year are best for certain species. Fishing is a pastime you can enjoy all year round.

Getting Your License

Fishing licenses are required in most places, which you can buy at fishing tackle stores or Conservation and Wildlife Centers. The cost varies by location. Licenses for children are usually not required.

If you want to fish on private property, be sure to get permission from the owner. Otherwise it is trespassing.

Pack Up And Head Out

If you’ve read this far, it may be a sign you’re getting interested in fishing. Just follow the above instructions and soon you will be enjoying your favorite new hobby.