Before you approach a lender – any lender – it is a good idea to have a written cover letter. In this letter, you can share your business, its background, its mission, and the reason for your loan. This letter can be helpful as you approach different lenders, and sums up your business easily.

So you have your cover letter, which lenders should you approach? The idea is to find a lender that is stable, has experience, and has real people to tend after your needs. A lender or bank should be stable enough in the small business sector. What you want is a bank that has a proven record of lending to small businesses – this will help save time. More so, it is important that the lender show a personal side to the business. That is, their personnel should have the time and patience to actually sit you down and discuss your business with you. This will show you that the lender actually cares for its borrowers, making your chances of getting a loan higher.

This financial turmoil has obviously affected each one and one has to look no farther than simply typing in “business tips” in Google News to see the results. Instead of seeing general business tips what you’ll see are “tips on surviving the cash crunch”, “tips for surviving difficult times”, “tips for hard times”, etc. Even the ones not using such grim titles have something about the hard situation of businesses in this financial climate. After scanning tip after tip one tip that seems to be present in all articles is this: TIGHTEN YOUR BELT.

Of course the tips are worded in so many different ways but in the end what everyone has to say is that you need to cut your business expense (and even personal expense) if you want to see your business through this crisis in the best possible shape. To some that shape might mean leaner but still profitable but to others that might mean barely alive, whatever shape your business might be in it is still best to listen up. It’s time to tighten up your belt if you want your business to survive!

This week, we have seen the slight decrease in oil prices which have given new hope to people who are quite bothered by the growing problem of oil prices. The oil price issue has acted as a domino effect, affecting businesses, stocks and foreign exchanges as well as real estate mortgage and sales. But it was also advised back then that if there is a time to invest, that would be the best time when everyone is selling them at lower prices. Many did not believe these advisors since they were too busy panicking. Now we see that their analysis is holding true.

Stocks are now climbing coinciding with the fall of the price of oil. So for the people who have held on to these stocks or have bought them, profits are sure to be rising as well at this point. For the others, buying now may not be too late but the opportunity has already been lost. But as long as these trends continue, expect everything today to pick up and hopefully brings the world back to its normal state.

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Some months back, we had already heard that we should brace for recession in key parts of the world. A lot of people stand to lose their jobs and rightfully so, we have seen thousands to perhaps a million people now jobless no thanks to this economic crisis that has befallen the world.

The big three auto manufacturers have made necessary cuts and so have banks. Three companies have joined the fray as well and this includes consumer electronics giant Sony which has cut over 8,000 jobs due to the acute downturn and economic climate. As we can see, no one is spared from this recession stage we are facing and if corporate giants like Sony joins the ranks of General Motors, Ford and Chrysler, it appears that no one is exempted from trying to hurdle that larger obstacles of trying to be financially capable of surviving this debacle.

Stocks are collateral damage as well, relying heavily on how the companies perform. These developments are not helping and much of the investors have embraced their money as they are afraid of losing them on investments which were usually the case for being able to rack in the riches.

Everyone is praying for a miracle. Some for an end to the recession issues. That is all we can do for now as the economic issues of the world reigns upon us for now.

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It may not be the kindest of words but incoming U.S. president has said that if the automobile industry is to survive their financial worries then perhaps asking the fat-salaried executives to step down is a key move that can save them on financial problems. It is nothing personal but practical. There are executives in these companies that procure a large part of their income and if nothing is done about it, it is obvious that they will go bankrupt due to financial mismanagement.

It is not the best news that the leading car companies would want to hear. In fact, they are waiting for the financial support to help them get through their financial worries. However, it just doesn’t seem right to rely on the government for financial bailout at this time. What are these executives doing in the companies since they are supposed to be the ones thinking of ways to get by these hard times?

The situation is nothing new. Some of them have been there in the past and normally they would be expected to draw up some plans to help their companies make it through. Today, the external factor of economic catastrophe is a given but it should not be the reason for them to wave the white flag of surrender. There is definitely an alternative and apparently they are not looking at all possible angles. So why keep them if they cannot do anything at all?

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Depending on whose side you are on, this poll is bound to be controversial. In a national poll set out to determine what the American taxpayer would choose, 6 out 10 chose not to bail out the big three, a result that will obviously be crucial as far as what the government will do.

Earlier it was speculated that help would be on the way for the three car manufacturing giants but apparently they may stay that way; just speculations. General Motors and Ford have openly announced that they may not last the year and while they have been planning to lay off a large chunk of their manpower, their sales performance dip in the last two months further pressures them to consider the improbable choice of closure if no financial assistance comes their way.

“Only 15 percent say that they would be immediately affected if the auto companies went bankrupt,” CNN Polling Director Keating Holland said. “Seven in 10 say that a bailout would be unfair to American taxpayers.”

Ironically, the same taxpayers feel that even if financial assistance would be given, it would not last for long and that such would only be extending their life span but would eventually head to the same direction. So as far as the status of these big three Detroit-based car companies, it looks like they have to figure out to resolve their problems. But the thought of losing these three companies is scary for the United States as its economy sinks deeper and frantic.

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The financial bailout seems to be coming in installments. Initially it was counted in millions and then billions. Now it has risen to trillions. Care to try zillions next?

The economic disaster besetting the whole world is apparent. In fact, if billions cannot save companies from a bailout, would trillions do the trick? The next thing you would know is that it is not enough as well as we see practically the whole world at the mercy of debt issues created no other than man himself.

We see companies in need of help. But what is intriguing is how they were able to keep quiet some months back and now declare that they are in need of help. From banks to car manufacturers, it was initially pegged that other companies, both big and small would come out in the open as help is direly needed and making them forget their usual resorts in making the necessary adjustments as far as surviving in the business world is concerned.

With that said, what is stopping anyone from declaring their hard times and demanding for help? If you look at it, the Citigroup assistance may have helped the stocks but has hit the other companies in a negative light. If they could get away with it, then why not the other big names?

The moves of the government are endearing but the fact remains that they have to look at the outset of the results in all. But as we all continue to brace for the hard 2009, what new big corporate name will come out in the open and seek assistance?

Citigroup can heave a big sigh of relief these days. Facing the prospects of the worst financial disaster in ages, the U.S. government granted a $20 Billion financial bailout to the threatened group, hopefully strengthening the financial backbone of the country. The news had quite an impact as stocks soared when the Citigroup bailout was announced.

The question is on whether this was enough and up to when it can be sustained. It is no secret that Citigroup is only one of the many companies that are facing bankruptcy and among the significant companies include the big three car manufacturers namely, Chevrolet, Ford and General Motors. The big three were not granted the financial aid and from the looks of it, the future does not show a positive light as far as these companies are concerned.

They have openly announced as well that they may not even make it through 2008 since declining car sales are really hampering their operations. Also, a lot of people are in danger of losing their jobs as the factors needed to bring down the rising costs and losses of the big three continues.

Will the government re-study the status of the big three car companies based in Detroit? Unless they do, the automobile industry is in serious threat of dying if nothing is done about it. While the current government is trying to deliberate on it, they better hurry. The year is only 35 days away from ending and if their pronouncements are true, one fall can lead to the fall of the whole country.