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Control de inventario

Indice

1. Introducción
2. La Organización
3. Desarrollo del tema
4. U.E.P.S Monetario
5. Control Interno Sobre Inventarios
6. Conclusión
7. Bibliografía

1. Introducción

Inventarios son bienes tangibles que se tienen para la venta en el curso ordinario del negocio o para ser consumidos en la producción de bienes o servicios para su posterior comercialización. Los inventarios comprenden, además de las materias primas, productos en proceso y productos terminados o mercancías para la venta, los materiales, repuestos y accesorios para ser consumidos en la producción de bienes fabricados para la venta o en la prestación de servicios; empaques y envases y los
inventarios en tránsito.

La base de toda empresa comercial es la compra y venta de bienes o servicios; de aquí la importancia del manejo del inventario por parte de la misma. Este manejo contable permitirá a la empresa mantener el control oportunamente, así como también conocer al final del período contable un estado confiable de la situación económica de la empresa.
Ahora bien, el inventario constituye las partidas del activo corriente que están listas para la venta, es decir, toda aquella mercancía que posee una empresa en el almacén valorada al costo de adquisición, para la venta o actividades productivas.
Por medio del siguiente trabajo se darán a conocer algunos conceptos básicos de todo lo relacionado a los Inventarios en una empresa, métodos, sistema y control.

2. La Organización

THE CYBER SHOP es una empresa destinada a procurarle al cliente y a su familia la mejor navegación asistida en Internet, en la cual tendrán el mayor número de alternativas para que puedan aprovechar al máximo el tiempo durante el cual estén en nuestro local.
Tendremos presentes ante esta compañía las siguientes metas o fines:
1-. Excelencia y eficacia a nivel de servicios
2-. Precios competitivos.
3-. Instruir al público visitante.
4-. Brindar soluciones a sus inquietudes (clientes) a nivel de computación e informática.
5-. Abrir las puertas del mundo de las comunicaciones (Internet) a nuestros clientes.

Misión.-
Planes Principales-. Estos se refieren a aquellos planes que se pondrán en marcha desde el establecimiento de la compañía. Entre estos tenemos:
1-. Prestar servicio de navegación en Internet (por hora).
2-. Utilización de recursos para la realización de trabajos personales y entretenimiento.
3-. Venta de accesorios y consumibles de acuerdo a las necesidades del cliente.
4-. Prestar servicios de digitalización, copiado, impresión, etc...
5-. Venta de refrigerios y comida con el fin de que el cliente se sienta cómodo y a gusto en nuestro local.
6-.Ofrecimiento de cursos de computación a nivel de principiantes, avanzado y experto.
7-.Ya que nuestro fuerte es Internet, brindar:
a) Publicidad a páginas Web.
b) Creación de páginas Web por medio de diseñadores gráficos a contratar, logos, papelería, etc...
8-. Venta de programas (software), revistas, textos relacionados a la computación e informática.

Al no conseguir nuestros propósitos (manutención independiente de la empresa) por medio de estos planes se pondrán en marcha los siguiente Planes Alternativos:
1-. Encartes, volanteo: con la entrega del volante el cliente tendrá una hora gratis.
2-.Promociones. Happy hours: horario a convenir, en las horas donde hay poca clientela el cual se maneja de la siguiente forma:

* Si el cliente llega en las horas comprendidas del happy hour se le dará algún descuento especial.
* En caso de lluvia tendrá un 2 x 1, es decir, paga 2 horas y le regalamos una.

Visión.-
Nuestra visión como empresa la podemos resumir en:

* Crear salas de navegación en Internet con un estilo diferente y muy por encima de los ya conocidos Cyber cafés.
* Llevar este al desarrollo máximo, hasta el punto de convertirlo en una nueva manera de disfrutar la Web tanto para el entretenimiento, como para el estudio y/o trabajo.
* Expandir el proyecto hacia la franquicia, de esta manera no estaremos solos en el demostramiento de la diferencia de estilo.
* Prestar servicios de venta de consumibles para aquellos que disfrutan de nuestros principales servicios (Internet) en su casa o trabajo.

3. Desarrollo del tema

¿Qué son los inventarios?
La contabilidad para los inventarios forma parte muy importante para los sistemas de contabilidad de mercancías, porque la venta del inventario es el corazón del negocio. El inventario es, por lo general, el activo mayor en sus balances generales, y los gastos por inventarios, llamados costo de mercancías vendidas, son usualmente el gasto mayor en el estado de resultados.
Las empresas dedicadas a la compra y venta de mercancías, por ser ésta su principal función y la que dará origen a todas las restantes operaciones, necesitarán de una constante información resumida y analizada sobre sus inventarios, lo cual obliga a la apertura de una serie de cuentas principales y auxiliares relacionadas con esos controles. Entres estas cuentas podemos nombrar las siguientes:

o Inventario (inicial)
o Compras
o Devoluciones en compra
o Gastos de compras
o Ventas
o Devoluciones en ventas
o Mercancías en tránsito
o Mercancías en consignación
o Inventario (final)

El Inventario Inicial representa el valor de las existencias de mercancías en la fecha que comenzó el período contable. Esta cuenta se abre cuando el control de los inventarios, en el Mayor General, se lleva en base al método especulativo, y no vuelve a tener movimiento hasta finalizar el período contable cuando se cerrará con cargo a costo de ventas o bien por Ganancias y Perdidas directamente.
En la cuenta Compras se incluyen las mercancías compradas durante el período contable con el objeto de volver a venderlas con fines de lucro y que forman parte del objeto para el cual fue creada la empresa. No se incluyen en esta cuenta la compra de Terrenos, Maquinarias, Edificios, Equipos, Instalaciones, etc. Esta cuenta tiene un saldo deudor, no entra en el balance general de la empresa, y se cierra por Ganancias y Pérdidas o Costo de Ventas.
Devoluciones en compra, se refiere a la cuenta que es creada con el fin de reflejar toda aquella mercancía comprada que la empresa devuelve por cualquier circunstancia; aunque esta cuenta disminuirá la compra de mercancías no se abonará a la cuenta compras.
Los gastos ocasionados por las compras de mercancías deben dirigirse a la cuenta titulada: Gastos de Compras. Esta cuenta tiene un saldo deudor y no entra en el Balance General.
Ventas: Esta cuenta controlará todas las ventas de mercancías realizadas por la Empresa y que fueron compradas con éste fin. Por otro lado también tenemos Devoluciones en Venta, la cual está creada para reflejar las devoluciones realizadas por los clientes a la empresa.
En algunas oportunidades, especialmente si la empresa realiza compras en el exterior, nos encontramos que se han efectuado ciertos desembolsos o adquirido compromisos de pago (documentos o giros) por mercancías que la empresa compró pero que, por razones de distancia o cualquier otra circunstancia, aun no han sido recibidas en el almacén. Para contabilizar este tipo de operaciones se debe utilizar la cuenta: Mercancías en Tránsito.
Por otro lado tenemos la cuenta llamada Mercancía en Consignación, que no es más que la cuenta que reflejará las mercancías que han sido adquiridas por la empresa en "consignación", sobre la cual no se tiene ningún derecho de propiedad, por lo tanto, la empresa no está en la obligación de cancelarlas hasta que no se hayan vendido.
El Inventario Actual (Final) se realiza al finalizar el período contable y corresponde al inventario físico de la mercancía de la empresa y su correspondiente valoración. Al relacionar este inventario con el inicial, con las compras y ventas netas del periodo se obtendrá las Ganancias o Pérdidas Brutas en Ventas de ese período.
El control interno de los inventarios se inicia con el establecimiento de un departamento de compras, que deberá gestionar las compras de los inventarios siguiendo el proceso de compras.

Funciones De Los Inventarios
Algunos inventarios son inevitables. Todo o cuando menos una parte del inventario de manufactura en proceso es inevitable. Al momento de llevar a cabo el recuento del inventario, parte de él estará en las máquinas otra parte estará en la fase de traslado de una máquina a otra, o en tránsito del almacén de materias primas a la línea de producción o de ésta, al almacén de artículos terminados. Si vamos a tener producción es inevitable tener inventarios en proceso. Sin embargo, frecuentemente podemos minimizar este inventario mediante una mejor programación de la producción, o bien mediante una organización más eficiente de la línea de producción, o bien mediante una organización más eficiente de la línea de producción. Como una alternativa, podríamos pensar en subcontratar parte del trabajo, de tal manera que la carga de llevar dicho inventario en proceso fuera para el subcontratista. En ocasiones conviene acumular inventario en proceso para evitar problemas relacionados con la programación y planeación de la producción. Si se trata de una política bien pensada, esta bien; sin embargo frecuentemente resulta ser un camino fácil para obviar una tarea difícil.
El resto del inventario que se tenga en accesorios, materias primas, artículos en proceso y artículos terminados simplemente se mantiene por una razón básica. Principalmente se tiene inventarios porque nos permite realizar las funciones de compras, producción y ventas a distintos niveles.

Planificación De Las Políticas De Inventario
En la mayoría de los negocios, los inventarios representan una inversión relativamente alta y producen efectos importantes sobre todas las funciones principales de la empresa. Cada función tiene a generar demandas de inventario diferente y a menudo incongruente:
Ventas.- Se necesitan inventarios elevados para hacer frente con rapidez a las exigencias del mercado.
Producción.- se necesitan elevados inventarios de materias primas para garantizar la disponibilidad en las actividades de fabricación; y un colchón permisiblemente grande de inventarios de productos terminados facilita niveles de producción estables.
Compras.- las compras elevadas minimizan los costos por unidad y los gastos de compras en general.
Financiación.- los inventarios reducidos minimizan las necesidades de inversión (corriente de efectivo) y disminuyen los costos de mantener inventarios (almacenamiento, antigüedad, riesgos, etc.).

Los propósitos de las políticas de inventarios deben ser:
1.- Planificar el nivel óptimo de inversión en inventarios.
2.- A través de control, mantener los niveles óptimos tan cerca como sea posible de lo planificado.
Los niveles de inventario tienen que mantenerse entre dos extremos: un nivel excesivo que causa costos de operación, riesgos e inversión insostenibles, y un nivel inadecuado que tiene como resultado la imposibilidad de hacer frente rápidamente a las demandas de ventas y producción
(Alto costo por falta de existencia).

Las Funciones Que Efectúa El Inventario
¿Que funciones cumple el Inventario?
En cualquier organización, los inventarios añaden una flexibilidad de operación que de otra manera no existiría. En fabricación, los inventarios de producto en proceso son una necesidad absoluta, a menos que cada parte individual se lleve de maquina a maquina y que estas se preparen para producir una sola parte.
Funciones:

* Eliminación de irregularidades en la oferta
* Compra o producción en lotes o tandas
* Permitir a la organización manejar materiales perecederos
* Almacenamiento de mano de obra

Decisiones sobre inventario:
Hay dos decisiones básicas de inventario que los gerentes deben hacer cuando intentan llevar a cabo las funciones de inventario recién revisadas. Estas dos decisiones se hacen para cada artículo en el inventario:
1.- Que cantidad de un artículo ordenar cuando el inventario de ese ítem se va a reabastecer.
2.- Cuando reabastecer el inventario de ese artículo.

Tipos De Inventario
Inventario Perpetuo: Es el que se lleva en continuo acuerdo con las existencias en el almacén, por medio de un registro detallado que puede servir también como mayor auxiliar, donde se llevan los importes en unidades monetarias y las cantidades físicas. A intervalos cortos, se toma el inventario de las diferentes secciones del almacén y se ajustan las cantidades o los importes o ambos, cuando es necesario, de acuerdo con la cuenta física. Los registros perpetuos son útiles para preparar los estados financieros mensuales, trimestral o provisionalmente. El negocio puede determinar el costo del inventario final y el costo de las mercancías vendidas directamente de las cuentas sin tener que contabilizar el inventario. El sistema perpetuo ofrece un alto grado de control, porque los registros de inventario están siempre actualizados. Anteriormente, los negocios utilizaban el sistema perpetuo principalmente para los inventarios de alto costo unitario, como las joyas y los automóviles; hoy día con este método los administradores pueden tomar mejores decisiones acerca de las cantidades a comprar, los precios a pagar por el inventario, la fijación de precios al cliente y los términos de venta a ofrecer. El conocimiento de la cantidad disponible ayuda a proteger el inventario.
Inventario Intermitente: Es un inventario que se efectúa varias veces al año. Se recurre al, por razones diversas, no se puede introducir en la contabilidad del inventario contable permanente, al que se trata de suplir en parte.
Inventario Final: Es aquel que realiza el comerciante al cierre del ejercicio económico, generalmente al finalizar un periodo, y sirve para determinar una nueva situación patrimonial en ese sentido, después de efectuadas todas las operaciones mercantiles de dicho periodo.
Inventario Inicial: Es el que se realiza al dar comienzos a las operaciones.
Inventario Físico: Es el inventario real. Es contar, pesar o medir y anotar todas y cada una de las diferentes clases de bienes (mercancías), que se hallen en existencia en la fecha del inventario, y evaluar cada una de dichas partidas. Se realiza como una lista detallada y valorada de las existencias.
Inventario determinado por observación y comprobado con una lista de conteo, del peso o a la medida real obtenidos.
Calculo del inventario realizado mediante un listado del stock realmente poseído. La realización de este inventario tiene como finalidad, convencer a los auditores de que los registros del inventario representan fielmente el valor del activo principal. La preparación de la realización del inventario físico consta de cuatro fases, a saber:

1. Manejo de inventarios (preparativos)
2. Identificación
3. Instrucción
4. Adiestramiento

Inventario Mixto: Inventario de una clase de mercancías cuyas partidas no se identifican o no pueden identificarse con un lote en particular.
Inventario de Productos Terminados: Todas las mercancías que un fabricante ha producido para vender a sus clientes.
Inventario en Transito: Se utilizan con el fin de sostener las operaciones para abastecer los conductos que ligan a la compañía con sus proveedores y sus clientes, respectivamente. Existen porque el material debe de moverse de un lugar a otro. Mientras el inventario se encuentra en camino, no puede tener una función útil para las plantas o los clientes, existe exclusivamente por el tiempo de transporte.
Inventario de Materia Prima: Representan existencias de los insumos básicos de materiales que abran de incorporarse al proceso de fabricación de una compañía.
Inventario en Proceso: Son existencias que se tienen a medida que se añade mano de obra, otros materiales y demás costos indirectos a la materia prima bruta, la que llegará a conformar ya sea un sub-ensamble o componente de un producto terminado; mientras no concluya su proceso de fabricación, ha de ser inventario en proceso.
Inventario en Consignación: Es aquella mercadería que se entrega para ser vendida pero él título de propiedad lo conserva el vendedor.
Inventario Máximo: Debido al enfoque de control de masas empleado, existe el riesgo que el nivel del inventario pueda llegar demasiado alto para algunos artículos. Por lo tanto se establece un nivel de inventario máximo. Se mide en meses de demanda pronosticada, y la variación del excedente es: X >Imax.

Inventario Mínimo: Es la cantidad mínima de inventario a ser mantenidas en el almacén.
Inventario Disponible: Es aquel que se encuentra disponible para la producción o venta.
Inventario en Línea: Es aquel inventario que aguarda a ser procesado en la línea de producción.
Inventario Agregado: Se aplica cuando al administrar las existencias de un único artículo representa un alto costo, para minimizar el impacto del costo en la administración del inventario, los artículos se agrupan ya sea en familias u otro tipo de clasificación de materiales de acuerdo a su importancia económica, etc.
Inventario en Cuarentena: Es aquel que debe de cumplir con un periodo de almacenamiento antes de disponer del mismo, es aplicado a bienes de consumo, generalmente comestibles u otros.
Inventario de Previsión: Se tienen con el fin de cubrir una necesidad futura perfectamente definida. Se diferencia con el respecto a los de seguridad, en que los de previsión se tienen a la luz de una necesidad que se conoce con certeza razonable y por lo tanto, involucra un menor riesgo.
Inventario de Seguridad: Son aquellos que existen en un lugar dado de la empresa como resultado de incertidumbre en la demanda u oferta de unidades en dicho lugar. Los inventarios de seguridad concernientes a materias primas, protegen contra la incertidumbre de la actuación de proveedores debido a factores como el tiempo de espera, huelgas, vacaciones o unidades que al ser de mala calidad no podrán ser aceptadas. Se utilizan para prevenir faltantes debido a fluctuaciones inciertas de la demanda.
Inventario de Mercaderías: Son las mercaderías que se tienen en existencia, aun no vendidas, en un momento determinado.
Inventario de Fluctuación: Estos se llevan porque la cantidad y el ritmo de las ventas y de producción no pueden decidirse con exactitud. Estas fluctuaciones en la demanda y la oferta pueden compensarse con los stocks de reserva o de seguridad. Estos inventarios existen en centros de trabajo cuando el flujo de trabajo no puede equilibrarse completamente. Estos inventarios pueden incluirse en un plan de producción de manera que los niveles de producción no tengan que cambiar para enfrentar las variaciones aleatorias de la demanda.
Inventario de Anticipación: Son los que se establecen con anticipación a los periodos de mayor demanda, a programas de promoción comercial o aun periodo de cierre de planta. Básicamente los inventarios de anticipación almacenan horas-trabajo y horas-máquina para futuras necesidades y limitan los cambios en las tasas de producción.
Inventario de Lote o de tamaño de lote: Estos son inventarios que se piden en tamaño de lote porque es más económico hacerlo así que pedirlo cuando sea necesario satisfacer la demanda. Por ejemplo, puede ser más económico llevar cierta cantidad de inventario que pedir o producir en grandes lotes para reducir costos de alistamiento o pedido o para obtener descuentos en los artículos adquiridos.
Inventario Estaciónales: Los inventarios utilizados con este fin se diseñan para cumplir mas económicamente la demanda estacional variando los niveles de producción para satisfacer fluctuaciones en la demanda. Estos inventarios se utilizan para suavizar el nivel de producción de las operaciones, para que los trabajadores no tengan que contratarse o despedirse frecuentemente.
Inventario Intermitente: Es un inventario realizado con cierto tiempo y no de una sola vez al final del periodo contable.
Inventario Permanente: Método seguido en el funcionamiento de algunas cuentas, en general representativas de existencias, cuyo saldo ha de coincidir en cualquier momento con el valor de los stocks.
Inventario Cíclico: Son inventarios que se requieren para apoyar la decisión de operar según tamaños de lotes. Esto se presenta cuando en lugar de comprar, producir o transportar inventarios de una unidad a la vez, se puede decidir trabajar por lotes, de esta manera, los inventarios tienden a acumularse en diferentes lugares dentro del sistema.

Método De Valuación De Inventarios
Existen numerosas bases aceptables para la valuación de los inventarios; algunas de ellas se consideran aceptables solamente en circunstancias especiales, en tanto que otras son de aplicación general.
Entre las cuestiones relativas a la valuación de los inventarios, la de principal importancia es la consistencia: La información contable debe ser obtenida mediante la aplicación de los mismos principios durante todo el periodo contable y durante diferentes periodos contables de manera que resulte factible comparar los Estados Financieros de diferentes periodos y conocer la evolución de la entidad económica; así como también comparar con Estados Financieros de otras entidades económicas.
Las Principales bases de valuación para los inventarios son las siguientes:

o Costo
o Costo o Mercado, al mas bajo
o Precio de Venta

Base de Costo para la valuación de los inventarios:
El Costo incluye cualquier costo adicional necesario para colocar los artículos en los anaqueles. Los costos incidentales comprenden el derecho de importación, fletes u otros gastos de transporte, almacenamiento, y seguros, mientras los artículos y/o materias primas son transportados o están en almacén, y los gastos ocasionales por cualquier periodo de añejamiento.

Base de Costo o Mercado, el más bajo:
El precio de mercado puede determinarse sobre cualquiera de las siguientes bases, según sea el tipo de inventario de que se trate:

1. Base de compra o reposición: esta base se aplica a las mercancías o materiales comprados.
2. Base de Costo de reposición: se aplica a los artículos en proceso, se determina con base a los precios del mercado para los materiales, en los costos prevalecientes de salarios y en los gastos de fabricación corrientes.
3. Base de realización: para ciertas partidas de Inventario, tales como las mercancías o materias primas desactualizadas, o las recogidas a clientes, puede no ser determinable un valor de compra o reposición en el mercado y tal vez sea necesario aceptar, como un valor estimado de mercado el probable precio de venta, menos todos los posibles costos en que ha de incurriese para reacondicionar las mercancías o materia prima y venderlas con un margen de utilidad razonable.

Teniendo como premisa lo anteriormente dicho podemos decir que los principales métodos de valuación de Inventarios son los siguientes:

o Costo Identificado
o Costo Promedio
o Primero en Entrar, Primero en Salir o "PEPS"
o Ultimo en entrar, Primero en Salir o "UEPS"
o Método Detallista.

Método Costo Identificado:
Este método puede arrojar los importes más exactos debido a que las unidades en existencia si pueden identificarse como pertenecientes a determinadas adquisiciones.

Costo Promedio:
Tal y como su nombre lo indica la forma de determinarse es sobre la base de dividir el importe acumulado de las erogaciones aplicables entre el número de artículos adquiridos o producidos.
El costo de los artículos disponibles para la venta se divide entre el total de las unidades disponibles también para la venta. El promedio resultante se emplea entonces para valorizar el inventario final.
Los costos determinados por el método de promedio ponderados son afectados por las compras, al principio del periodo; así como al final del mismo; por lo tanto, en un mercado que tiende al alza, el costo unitario será menor que el costo unitario calculado corriente, y en un mercado que tiende a la baja, dicho costo unitario excederá al costo corriente.

Método Primero en Entrar, Primero en Salir:
Este método identificado también como "PEPS", se basa en el supuesto de que los primeros artículos y/o materias primas en entrar al almacén o a la producción son los primeros en salir de él.
Se ha considerado conveniente este método porque da lugar a una valuación del inventario concordante con la tendencia de los precios; puesto que se presume que el inventario esta integrado por las compras mas recientes y esta valorizado a los costos también mas recientes, la valorización sigue entonces la tendencia del mercado.

Método Último en Entrar, Primero en Salir o "UEPS":
Este método parte de la suposición de que las ultimas entradas en el almacén o al proceso de producción, son los primeros artículos o materias primas en salir.
El método U.E.P.S. asigna los costos a los inventarios bajo el supuesto que las mercancías que se adquieren de último son las primeras en utilizarse o venderse, por lo tanto el costo de la mercadería vendida quedara valuado a los últimos precios de compra con que fueron adquiridos los artículos; y de forma contraria, el inventario final es valorado a los precios de compra de cada articulo en el momento que se dio la misma.
Entre los benéficos que ofrece este método para efectos fiscales podemos citar los siguientes.

* El reconocimiento de los costos más recientes de los artículos vendidos. Estos implica que cuando se valúa el costo de la mercadería vendida se aplicarán los últimos precios de compra, y en economías como la nuestra, se a demostrado que los precios tienden a subir, lo que provoca que el CMV sea mayor que si es valuado a precios menos recientes, por tal motivo las utilidades tienden a disminuirse y por ende en el pago de impuestos sobre la renta será menor.
* La valuación del inventario final de cada periodo genera un monto menor al que resultaría de aplicar cualquier otro método de valuación, pues se utilizan los precios más viejos de compra según el extracto a que se refiere

Dificultades de la metodología del U.E.P.S a la hora de su aplicación:

* Laboriosidad del mismo pues exige un control minucioso para cada línea de producto.
* La reducción de significativa en cantidad de algunas partida del inventario mientras que otras similares aumentan no compensan su valoración sino por el contrario tienden a desaparecer la base U.E.P.S
* El efecto de la venta en cantidad de una partida da por resultado la liquidación parcial o total de su base U.E.P.S y su reposición al costo actual, pero se pasa por alto el efecto desusadamente grande en la cantidad de una partida similar. Read more!

Milpo destaca valor de la empresa de cara a oferta de Votorantim

El productor peruano de zinc Milpo está instando a sus accionistas a que lo piensen muy bien antes de aceptar una oferta pública de compra de parte de la brasileña Votorantim Metais.

La oferta de Votorantim para comprar hasta 147 millones de acciones de Milpo, a US$2,87 cada una, elevaría la participación de la brasileña un 20,9% y pasaría a controlar más del 50% del capital con derecho a voto, señaló Milpo en un comunicado enviado a la bolsa de valores de Lima, donde agregó que el valor actual de sus acciones es superior al precio de la oferta.

Milpo pidió a los accionistas que a la hora de decidir si aceptan la oferta, consideren el rendimiento de sus minas y el potencial de sus proyectos y programas de exploración, "lo que refleja el crecimiento y creación de valor que se está produciendo en la empresa".

"La aceptación o no de la OPA [oferta pública de adquisición] es una decisión propia del accionista (...) para lo cual debe proveerse de toda la información que considere necesaria", manifestó Milpo.

"No corresponde al directorio establecer cuál debiera ser el precio a ofertar, no obstante el presente informe contiene aspectos que deben ser tomados en cuenta por los accionistas, para tener una idea más cabal de la situación".

La minera indicó que está preparada para lograr los objetivos de maximización de valor de la empresa, en beneficio de sus accionistas y trabajadores, y que busca convertirse dentro de cinco años en una de las mayores empresas productoras polimetálicas del mundo.

Votorantim posee operaciones de acero, zinc y níquel en Brasil, así como una refinería de zinc en Perú. Por otro lado, la compañía firmó hace poco un contrato de US$295mn para adquirir las operaciones de zinc de la compañía estadounidense de reciclaje de aluminio y zinc Aleris International.

Milpo produce zinc, plomo y cobre en sus minas Porvenir, Cerro Lindo, Chapi e Iván, en Perú, y desarrolla los proyectos Hilarión, Pukaqaqa y San José. Read more!

Student Loan Consolidation

Loan consolidation is the channel through which you can bring all your loans under one single policy and reduce the monthly payments by increasing the duration of the loan. Consolidation has loads of benefits, some being:

• Lower rate of interest
• Locking in loans at a lower interest rate
• Lower monthly payments
• Worrying about just one loan instead of many
• Longer repayment schedule

Bear in mind that we are talking specifically about student loans. There is consolidation available from other type of loans too, but at EdFed we deal with only your student loans.

The logic behind consolidation is simple. consolidation merges all your loans and bills into one single payment. It reduces your (the borrower's) monthly bill of loan repayment. In simpler terms, think of it this way: If you have to pay $100 in 5 years, you pay $20 every year (ignoring any interest component), and if you have to pay the same $100 in 10 years, you pay $10 every year. And in certain cases, the monthly payment burden gets reduced, and the loan payment period also doesn't get increased. This is what consolidation does; it reduces your monthly expenditure on loan repayment and gives you that extra cash in hand.

Now to tell you a little bit more about the Student Consolidation Program. If your loan is eligible to be consolidated under this program (see the list below) then you don't have to worry about variable interest rates anymore. Under the Student Consolidation Program, the interest rates are fixed based on many technicalities such as the amount of loan outstanding, the interest rate currently paid, etc. This rate of interest would be fixed throughout the life of your loan. So no more watching the interest rate markets for fluctuations that can hamper your lifestyle.

The list of loans that can be consolidated under the Student Consolidation Program: Unsubsidized Federal Stafford Loans Federal Parent Loans for Undergraduate Students (PLUS) Federal Supplemental Loans for Students (SLS) National Direct Student Loans (NDSL) Health Professions Student Loans Federal Perkins Loans Subsidized Federal Stafford Loans All Federal Direct Student Loans (Direct Loans) Health Education Assistance Loans (HEAL) Nursing Student Loans Student Consolidation Loans Federally Insured Student Loans (FISL) Loan from the Department of Education

If your loan falls under any of the above, then loan consolidation is a realistic option for you.

Irrespective of whether you are still a student or you have graduated, you can consolidate with EdFed and ensure lower interest rates and better terms.

At EdFed, we reduce your loan burdens. We offer you the following terms:

• Lock in low interest rates.
• No credit checks, No fees - Absolutely Free!
• Loan period extendable to up to 30 years
• Lower monthly payments by nearly 50%
• Complete confidentiality maintained
• Free live pre-qualification by government-approved agents
• It's a U.S. Government Program
• And it takes just 60 Seconds to Qualify!

Click here to Qualify for a consolidation now. Read more!

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1 Hour Payday Loans

1 Hour Payday Loans are speedy loans given against your next paycheck for a fee. As its name implies, 1-Hour Payday Loans are online loan services that process your application within the hour. You fill out an online application on the lender’s web site, after which the lender will contact you either by e-mail or phone. If you are approved for a loan, you should be able to withdraw your loan from your checking account the following business day. Some 1-Hour Payday Loan services will wire your loan to your bank for an additional fee.

Get instant approval on a low-cost payday loan >>

1 Hour Payday Loan Amounts

1-Hour Payday Loan companies will take your income into consideration in deciding how much you are eligible to borrow. Depending upon your situation, you might be able to borrow up to $1,500 or more. Most 1 Hour Payday lenders often allow you to borrow larger amounts once you have established some history with them.

How soon can I expect to get the money in my checking account?

You can expect money in your checking account the following business day. Arrangements can be made for same day deposits for a fee. Be aware that these deposits are usually wired to your bank, for which your bank may charge a fee.

Do 1 Hour Payday lenders run credit checks?

No, most 1 Hour Payday lenders do not run a credit check, and the lenders we work with do not run credit checks either. If you have bad credit, that will not be an issue when applying for a Payday Loan.

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What is the time frame for paying off a 1 Hour Payday Loan?

The normal time frame for a 1-Hour Payday Loan is 14 days, or until your next paycheck when you get paid monthly. This does not mean you will be expected to pay back the loan and fee in full at that time. Most companies will agree to deduct the fee from your checking account and renew your loan for one or more periods. Loan extensions require new fees for every renewal.

Can anyone use 1 Hour Payday Loan?

Yes, there are very few people that are not eligible for 1-Hour Payday Loans. Among those that are eligible, you will find an assortment of types of people who are customers of Payday Loan services. 1-Hour Payday Loan customers are usually regular people like you and me in need of extra cash fast. The 1-Hour Payday lender with whom we work is actually able to give you a decision within minutes of your online Payday Loan application.

1 Hour Payday Loan Interest Rates

Instead of an interest rate, 1-hour payday loans charge a financial fee. The average fee is $25 for every borrowed $100, but it can vary from company to company. Some charge as little as $10 in some cases, while others require up to $30. The fee is renewed at the end of every loan period, which is usually every 14 days. If the fee is $30 per $100 borrowed, that equals an APR of 782.14%. If that interest rate is too high for you and you can wait longer for your money, you might want to consider a personal loan.

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1 Hour Payday Loan Restrictions

There are no restrictions on what you can use a 1 Hour Payday Loan. 1-Hour Loans can be used for whatever purpose you need. So if you need some extra cash for rent or something else, a 1 Hour Payday Loan might be the right option for you.

Multiple 1 Hour Payday Loans

For the most part, Payday lenders will not allow you to have more than one Payday Loan at a time, but some company policies vary. If you notice yourself needing frequent Payday Loans, it might be time to consider some other alternatives, including: credit counseling, debt consolidation loan, a credit card, or a personal loan. Many of these options are open to anyone, even if you have bad credit.

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* Payday Today is not a payday lender or broker. We provide research and information about payday lenders and products, and are not necessarily affiliated with the companies featured on this site. Availability of products and services varies by state. Not all independent lenders will approve you for a loan or can provide you with up to $1,500 on your first loan. Read more!

What is Proactiv?

Whatever common problems people suffer from, there is always someone else out there offering them a treatment or solution, for a price.. Overweight? Hey, try this! Bags under your eyes, wrinkles? Try this! Skin problems or acne? Try this! Unfortunately, a lot of people prey on the fears, anxieties, and weaknesses of others, and they won't think twice about making a few bucks doing it. Of course, some products actually are proven and tested to help or cure the condition they are marketed towards. Proactiv has made a big name for themselves by enlisting celebrity spokespersons, like Vanessa Williams, Jessica Simpson, Kelly Clarkson, Brooke Shields, and Elle MacPherson. These beautiful faces appear on your TV screen informercials, telling you that Proactiv has made them blemish free. Read more!

Second Mortgage

Home ownership has the benefit that it allows you to use your home as collateral and borrow needed money against it, by taking a second mortgage.

Up until a few years ago, lenders and banks had curtailed the amounts and restricted the circumstances that allowed you to get 2nd mortgages. In fact, a second mortgage was considered disgraceful and regarded as evidence that you were suffering from financial hardship. However, that situation no longer exists. There is now a wide selection of loans available to fit your needs, and it's much easier to get a second mortgage on your home.

Second mortgage interest rates

The 2nd mortgage interest rates on the market today are affordable, thanks to fierce competition. In some cases, interest payable is far below the prime lending rate, otherwise a conventional yardstick for second mortgage loans. Conversion of the equity or right of ownership of your home into a line of credit is now possible. This allows you to borrow against your property whenever you may need to. It is important to remember that your house will be pledged as security for such a loan, so you must choose the best financial deal and keep your budget limitations and long term income in mind.

The Second Mortgage vs. the First Mortgage

A second mortgage is a loan taken after the first mortgage, and it is secured against the same assets as the first. It is based on the amount of equity or interest or ownership you have in that property, thus based on the difference between the current value of the property and the amount you owe on it. Second mortgages are arranged for various purposes, such as financing home improvements, college tuition fees, debt consolidation or other emergency expenses. If you have gathered enough equity, another option is to refinance your home and borrow funds in excess of your current loan balance. Usually, a second mortgage carries a higher rate of interest than a first mortgage. So if interest rates are low or start decreasing, refinancing becomes a more appropriate option. Since underwriting guidelines are less strict for second mortgages, it usually takes less time and effort to get a second mortgage than to refinance a loan. Also, a second mortgage may have low transaction costs, so despite higher interest rates on second mortgages, in the long run they may turn out to be less expensive than refinancing.

Choosing a 2nd Mortgage

When choosing a 2nd mortgage, you can typically choose between three types:

• a traditional second mortgage,
• a home equity loan, or
• a home equity line of credit.

On the other hand, a home equity line of credit sets a maximum loan amount on the sum total of the first and the second loan, usually 75% to 85% of the appraised value of the property. It is an open-ended line of credit, and you can draw money against it at any time. It allows you to pay the loan back within a set time period, without having to comply with regular and strict monthly installments. Consideration of all your options, before you decide on your second loan - that's what is import.

Read more!

Disney Channel

24-hour general entertainment television network in the United States that offers television programming for children through original series and movies as well as third party programming. It is marketed to mostly young children, however in recent years the diversity of viewers has increased. Currently available on basic cable and satellite, Disney Channel is part of Disney-ABC Cable Networks Group, a division of The Walt Disney Company. The network is based in Burbank, California,and is a short distance from Disney's headquarters. The channel runs a website, DisneyChannel.com. Disney Channel is slated to begin broadcasting in High-definition starting in early 2008. Read more!

American InterContinental University Online Associate of Arts in Business Administration Human Resources

The AIU Online Associate of Arts in Business Administration degree features a concentration in Human Resources. This degree program takes the real-world business skills taught in our university's AABA degree program and applies them to specific knowledge of the increasingly integral roles played by today's human resource Administrators.
In this up-to-date, real-world curriculum, students will gain the knowledge related to recruitment, selection, team dynamics, compensation, benefits, and records management. Coursework also covers employee benefits programs, compensation and incentive plans, and the application of teambuilding and conflict resolution to solve problems within an organization.

Students who complete the Associates of Arts in Business Administration in Human Resources will have acquired an up-to-date knowledge that can help prepare them to pursue interesting jobs such as Benefits Administrator, Personnel Recruiter, Human Resources Coordinator, Human Resource Specialist and many other in-demand professions.

Courses required to complete the AABA in Human Resources include:

Recruitment, Selection, and Records Management. This course examines the HR process of recruitment, selection and human resources record-keeping in organizations. Topics covered for the essential HR functions of recruitment and selection include ethics, legal requirements, job analysis, job descriptions and selection tools. It also presents how the effective management of people and jobs depends on accurate, reliable, comprehensive and current personnel information. This course presents the practical approaches to managing these invaluable human resource records.

Team Building and Conflict Resolution. This course examines principles of team building and conflict resolution. Methods of building cohesive teams and diffusing confrontation will be discussed. Students also explore the opportunities and challenges that arise from a diverse workforce.

Compensation and Benefits. Compensation plays a critical role in modern organizations. An effective compensation system enables the organization to achieve organizational goals, improve productivity and motivate employees. This course is designed to provide a working knowledge of compensation and benefits.

This accelerated degree program can be completed quickly. The curriculum has also been carefully designed to provide a seamless transition into the AIU Online Bachelor of Business Administration in Human Resource Management degree program. Read more!

Charting Your Academic Path with Academic Advising

Full-time staff advisors in the College of Business Administration will help you plan your schedule of classes each semester and select courses each semester and select courses you will need to earn your degree. In addition, the faculty member who is the student advisor for the Department of Finance, Real Estate, and Law and the faculty members in the real estate program can assist you and provide career advice.

The College of Business Administration's academic office is in the Business Administration Building, Room 123. The Department of Finance, Insurance, Real Estate, and Law is the Business Administration Building, Room 177.
For More Information on Admission to UNT


800-UNT-8211
www.unt.edu
E-mail: undergrad@unt.edu
Phone: 940-565-2681
Fax: 940-565-2408
TTY callers: 940-369-8652

University of North Texas
Office of Undergraduate Admissions
P.O. Box 311277
Denton, TX 76203-1277
For More Information on this Program

www.coba.unt.edu/firel
E-mail: braswell@unt.edu
Phone: 940-565-3050
Fax: 940-565-4234

University of North Texas
Department of Finance, Insurance, Real Estate, and Law
Undergraduate Advisor
P.O. Box 305339
Denton, TX 76203-5339 Read more!

Property prices fall in February

House prices fell in February by 0.5%, says the latest survey from Nationwide.

The fourth consecutive monthly fall in property prices pushed the cost of the average UK home down to £179,358.

The annual rate of house price inflation fell from 4.2% in January to 2.7% in February, the lowest since November 2005.

But the building society warned against gloomy predictions for the housing market, claiming that recession was "a remote risk for the UK economy".

Trend continues

It is the first time since 2000 that the Nationwide has recorded four monthly price falls in a row and the pace of decline seems to be speeding up.

It should not be surprising that we are entering a slower phase Fionnuala Earley, Nationwide

Prices in the December to February period were down 1% from the previous three months, a steeper decline than the previous three-month on three-month figure of -0.4%.

Various surveys have charted a decline in the housing market since last summer, with figures released on Thursday from the Land Registry also showing a slowing in the annual rate of house price inflation.

However, Nationwide said its own figures were overstating the situation because house price growth was particularly strong in January and February last year.

'Uncertain market'

Aggressive rate cuts in the coming months were unlikely, according to Nationwide's chief economist Fionnuala Earley, but the economy was much weaker than it was a year ago.

"It should not be surprising that we are entering a slower phase," she said.

"It is encouraging that the outlook is one of just that, slower economic growth rather than recession."

She added that the reluctance of buyers given the current uncertainty in the market was not a surprise, but conditions for the UK housing market were "perhaps less gloomy than some would have us believe".

Higher energy bills and food costs have put more pressure on household finances.

Meanwhile lenders have become more fussy about who they lend to because of the crisis in the banking industry.

No more so-called 125% mortgages are available and the 100% mortgage market has shrunk significantly in recent months.

The Bank of England's Monetary Policy Committee cut interest rates from 5.5% to 5.25% in February.

Read more!

My speaking schedule for early 2008

SES London was really fun last year, but in 2008 I’m mostly staying closer to home. If you’re attending SES London this week, please say hello to Adam Lasnik and Luisella Mazza. It also looks like Maile Ohye, Shuman Ghosemajumder, and several other Googlers will be speaking as well.

Here’s the places I plan on speaking in the first half of 2008:



February 26-28, 2008: Next week I will be doing a couple sessions for SMX West, including a Linking Q&A panel. What sounds even more fun is the trivia-quiz “Search Bowl” that I’m doing with fellow Googler Paul Haahr. It sounds like a fun, casual event to answer search trivia questions. Other search engines will field teams, plus an SEO team will play as well.

April 18-21, 2008: I’m speaking at the Domain Roundtable conference in San Francisco. I couldn’t pass up a chance to attend a conference about domain names when it’s so close to home. :)

April 22-25, 2008: I’ll speak or be on a panel in the Web 2.0 Expo, also in San Francisco. Maybe I’ll just stay in San Francisco that week and work from Google’s San Francisco’s office.

June 3-4, 2008: This is more tentative, but I’m hoping to make it to SMX Advanced in Seattle. Considering that until last year I’d never visited Seattle, I’ve enjoyed every time that I’ve gotten a chance to visit the city.

You’ll note that most of these conferences are nearby. The wonderful thing about ramping up new conference speakers in webspam is that if I want to ramp down on travel, newer speakers can more than handle the task. I’m really proud of the speakers that we send from Google. Read more!

Citi Announces Three Key Hires

Kelly Joins as President of Citi Alternative Investments;

Yordan Joins as Vice Chairman, Global Banking, Latin America;
Diaz Joins as Head of U.S. Institutional Cash Trading

New York – Citi today announced three key senior executive appointments in its Alternative Investments and Markets & Banking units that will help advance the company's growth opportunities in alternative investments, Latin America banking, and the U.S. cash equities business.

The company named Edward "Ned" Kelly President of Citi Alternative Investments (CAI), reporting to John Havens, CAI Chief Executive Officer. Mr. Kelly will chair the CAI Management Committee and assume responsibility for the business and many of its investment centers. Mr. Kelly will help drive the growth of CAI, a leading alternative investments platform with more than $59 billion of assets under management.

Jaime E. Yordan joins Citi Markets & Banking as Vice Chairman, Global Banking, Latin America. Mr. Yordan will report to Manuel Medina Mora, Chairman and Chief Executive Officer of Citi Latin America and Mexico, and to Raymond J. McGuire and Alberto Verme, Co-Heads of Global Investment Banking. Mr. Yordan will join Citi's efforts to build on its successful global banking business in Latin America through senior coverage of key clients in the region, as well as capitalizing on significant opportunities in banking, fixed income, and equity markets.

Armando Diaz joins Citi's Global Equities business as Head of U.S. Institutional Cash Trading, reporting to Kevin Russell, Head of Americas Equities Trading. Mr. Diaz brings extensive trading experience and customer relationships to Citi's cash trading business. He joins Citi after spending 19 years at Goldman Sachs & Co., most recently as the Partner managing single stock cash and derivative trading.

"We are delighted to welcome these three well-respected, seasoned, and talented professionals to Citi," said Vikram Pandit, CEO, Citi. "Each will play a key role as we continue to move ahead in areas with significant growth opportunities for the company."

Mr. Kelly joins Citi from The Carlyle Group. Prior to joining Carlyle in 2007, Mr. Kelly served as Chairman, Chief Executive, and President of Mercantile Bankshares from 2001 through March 2007. Before Mercantile, Mr. Kelly was a Managing Director at JP Morgan Chase Co., where he was a Managing Director and head of Global Financial Institutions and co-head of Investment Banking Client Management. Mr. Kelly was previously a partner at the law firm of Davis Polk & Wardwell.

Mr. Yordan has had a distinguished 30-year career in Latin America. From 1976 to 1990, he worked for JP Morgan, at different times in the International Banking Department, the National Banking Department, and the Mergers and Acquisitions Department. In 1990 he joined Goldman Sachs, where he established a Latin America business for the firm. He was elected General Partner in 1992, and in 1999 he was named Chairman for Latin America. Upon his retirement from Goldman Sachs in 2005, he became Advisory Director at CDK Group LLC. Read more!

sneak peek early screen

*** This comment may contain spoilers ***

I attended an early screening 1/10/08 at Michigan State University. I've spoilerized in case anyone doesn't want to know anything about the film, but I will try to stay away from anything that'll be too overt.

Simply put, the film is an amazingly visceral experience. It's studio logo, production logo, film. No credits whatsoever, which just adds to the overall immediacy of it. If you've been following it to any degree whatsoever, you know that it's shot entirely with hand-held cameras. The characters also run. A lot. So immediately, I think this will be a love hate experience. My own reaction to it was that it again, added to the immersion, and I didn't find it to be really distracting at all. Many people I saw it with said they couldn't even watch the screen at times, so buyer beware. It also will anger those who need all the details, and need to have every loose end tied up (or even a majority of them). The entire film is the tape found after the events of the film are over. That's it. There is no set up, and no hold-your-hand-for-you resolution (or really, much of one at all). It's unconventional, and I enjoyed the ending TREMENDOUSLY. I definitely have to applaud the decision to not simply make a cookie cutter action film that is easy to watch. I think it will be interesting to watch how it does at the box office though.

After that...I feel like there isn't much that can be said about the acting, and that should be a credit to it. It absolutely feels like you are experiencing this with the characters, who feel more or less exactly like real people. After leaving the theater I was on edge for a good deal of time, as I tried to shake that level of immersion. The film is also surprisingly humorous, and I would say that our crowd laughed more than they screamed (although the screams were definitely there).

Cloverfield definitely will not be everybody's cup of tea, but if you're already excited about it, I have no doubt that you'll be satisfied. It was a relatively unique experience, and again I want to applaud the decision to make it in that manner. Read more!

Small Business Guide to Government Grants and Loans

We've all seen the headlines: "Millions in free government money for your business." Late-night infomercials, reference guides and websites promote the availability of grant money to entrepreneurs for starting and expanding businesses. Sound too good to be true? It is.

The truth is that federal and state governments do not provide grants for starting and expanding small businesses. However, the U.S. government does offer a wide-variety of low-interest loans and venture capital financing programs to help entrepreneurs start and grow their businesses. In addition, some federal and state agencies award a limited number of grants for very specialized business activities such as scientific research and development.

The following guide provides an explanation of federal and state loan, grant and venture capital financing programs available for your small business.

Small Business Loans

SBA Loans

The U.S. Small Business Administration (SBA) assists small business owners to start and expand their businesses by helping them get loans through private banks and financial institutions. SBA is the largest single financial backer for the nation's small businesses with a portfolio of business loans, loan guarantees and disaster loans worth more than $45 billion, in addition to a venture capital portfolio of $13 billion.

SBA offers a number of low-interest loan programs for new and expanding small businesses. SBA is not a lender, and does not grant loans directly to businesses. Rather, SBA is a guarantor of loans made by privately owned banks and other financial institutions that agree to follow SBA's guidelines.

To apply for an SBA loan, you need to visit your local participating bank or lending institution. When you apply for an SBA loan you are actually applying for a commercial loan, structured according to SBA requirements, which receives an SBA guaranty. This guaranty is portion of the loan the SBA will pay back to the lender should you default on your loan payments.

SBA's Financial Assistance Guide describes SBA loan programs, including eligibility requirements, and how to apply for them.

Remember, that you'll need to go through a local bank or financial institution to apply for an SBA loan. To get a list of SBA lenders in your area, contact your SBA District Office.

SBA Loans for Veterans

SBA offers a few loan programs to assist veterans and members of the military community:

• Patriot Express Loan Initiatve
  The SBA's Patriot Express program provides loans for veterans and members of the military community wanting to establish or expand small businesses.
• Military Reservist Economic Injury Disaster Loan Program
  Provides funds to eligible small businesses to meet its ordinary and necessary operating expenses that it could have met, but is unable to meet, because an essential employee was "called-up" to active duty in their role as a military reservist.

USDA Loans

If you operate a farm, the U.S. Department of Agriculture (USDA) has a Business and Industry (B&I) Guaranteed Loan Program that works in the same manner as SBA loans. The USDA provides guarantees of up to 80 percent of a loan made by a commercial lender. Loan proceeds may be used for working capital, machinery and equipment, buildings and real estate, and certain types of debt refinancing.

The B&I Loan Guarantee Program Fact Sheet provides all you need to know about obtaining one of these loans, including eligibility, loan terms and conditions, equity requirements, and interest rates. Like SBA loans, you need to go through your local bank or financial institution to apply for a B&I loan. If you have any questions about the B&I Loan Guarantee Program or other financial options available for small farms, contact your state's Rural Development Field Office.

Other Federal Loan Programs

Depending on your type of business, you may qualify for specialized federal loan programs. For example, if you are small and disadvantaged business engaged in federal transportation contracts, you may qualify the U.S. Department of Transportation's Short Term Lending Program.

If you are a small trucking company, the Environmental Protection Agency's (EPA) SmartWay Transport Partnership has partnered with several lenders to make money available to small trucking companies to help pay for technologies that saves fuel while reducing pollution.

To find other federal loan programs serving small business concerns, visit GovLoans.gov, the U.S. government's central database of government loan programs.

State and Local Loan Programs

Many state and local governments also offer low-interest loan programs that they guarantee through commercial lenders. Contact your local Small Business Development Center to get assistance with locating state and local funding sources for your small business.

Venture Capital Financing

Small Business Investment Companies (SBIC)

In 1958, Congress created the Small Business Investment Companies (SBIC) program to help small U.S. companies raise capital. SBIC's are privately owned and managed investment firms that provide venture capital and start-up financing to small businesses. To be eligible for SBIC financing, your business must meet certain SBA size requirements for a small business. Generally, the SBIC Program defines a company as "small" when its net worth is $18.0 million or less and its average after tax net income for the prior two years does not exceed $6.0 million. When you contact an SBIC, you'll need to present a professional business plan that addresses your company's operations, management, financial condition and funding requirements.

The following resources will help you locate SBIC financing:

• SBA's Guide for Entrepreneurs Seeking Financing provides in-depth information about the SBIC financing and eligibility requirements.
• SBA's SBIC Directory provides a listing of licensed SBIC investment firms in your state.
• The National Association of Small Business Investment Companies (NASBIC) provides a Step-by-Step Guide to SBIC Financing. NASBIC is the trade organization for the SBIC industry, and also provides a directory of SBIC firms.

Active Capital (formerly Angel Capital Electronic Network - ACE-Net)

Active Capital is a nationwide listing service that connects entrepreneurs with angel investors. Potential investors can obtain information on start-ups and expanding small businesses seeking $250,000 to $5,000,000 in venture capital. Active Capital's main benefit is that it allows entrepreneurs to directly access a nationwide network of investors while complying with federal and state securities regulations.

Small Businesses in Economically Distressed Communities

If your business is located in a low-income geographic area, there are a couple of venture financing options available to you. First, there is a special type of SBIC called Specialized Small Business Investment Companies (SSBIC). SSBIC's provide assistance solely to small businesses owned by socially or economically disadvantaged persons. Secondly, you may be eligible for New Markets Venture Capital (NMVC) financing. Modeled after the SBIC program, the NMVC program makes equity investments in small businesses located in economically distressed communities in urban and rural areas. NMVC financing is available in limited areas, and available from these venture capital firms.

Federal and state grants are only available to support non-profit organizations, lending institutions, and state and local government programs that provide technical and financial assistance to small businesses. If your business is one of these organizations, Grants.gov provides grant opportunities available from federal agencies.

Again, federal and state government agencies do not award grants for starting, managing and expanding small businesses. However, state and local government grant opportunities may exist for small businesses engaged in very specialized activities. Many states provide job training grants to new and expanding firms. Other states provide grants to fund scientific research projects, and grants for agricultural development. For example, the New York State Dept. of Agriculture & Markets' Winery Website Improvement Grant Program provides money to state wineries and vineyards for improving their websites. The California Energy Commission's Energy Innovations Small Grant Program provides funds to small businesses to conduct research that establishes new, innovative energy concepts. Check with your state or local government to find these sorts of specialized grant opportunities.

Small Business Grants

A few federal programs provide grants to small firms engaged in scientific research and development (R&D). The Federal government's SBIR (Small Business Innovation Research) and STTR (Small Business Technology Transfer) programs award a specific percentage of Federal R&D funds to qualified small businesses. SBIR/STTR programs encourage small firms to undertake scientific research that helps meet Federal R&D objectives, and have high potential for commercialization if successful. The following agency award SBIR/STTR grants:

• Department of Agriculture
• Department of Commerce
• National Institute of Standards and Technology
• National Oceanic and Atmospheric Administration
• Department of Defense
• Department of Education
• Department of Energy
• Department of Health and Human Services
• Department of Homeland Security
• Department of Transportation
• Environmental Protection Agency
• National Aeronautics and Space Administration
• National Science Foundation

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