Credit is given to individuals and corporate entities to fund their business activities. Commercial loans are available for short or long term. Creditors, such as banks, usually prefer to give out short term loans, as this ensures they will recoup their money quickly.Short term loans are usually sought by businesses that need liquidity, or cash, to buy raw materials or pay staff. In turn, they get payments from their creditors or by selling finished products to a ready market to quickly offset these costs. Short term financial instruments are usually offered for a period of fifty days or less. On the other hand, long term financial instruments are given out for periods of several years. The interest rates on long term loans are usually lower than those of short term and can either be fixed or variable interest rate over the repayment period.These financial instruments need to be represented on paper and signed by both the lender and borrower. The terms are made in writing and each party knows their responsibility before signing the agreement.When economic problems arise, like those experienced today, commercial loan modifications can be made to an original agreement, even shortly after a repayment process has already begun. Commercial loan modifications seek to relieve the borrower of the original agreement terms, when business decreases and the terms cannot be met when due. Due to a loan modification process, a new agreement will need to be drawn up with new terms stipulated.Hotel loans offered by financial institutions can and should be modified during these difficult economic times. The hotel borrower or hotelier can modify the terms of his loan, with help from a hotel loan modification expert. A modification will enable the borrower to meet less stressful requirements and continue to maintain their business.Hotel loan modifications provide a way out for defaulting hotel businesses and keep the lender from having to operate a hotel business they are not prepared to deal with. The new terms allow the business owner to pay less monthly and continue to operate the hotel.
Loan Modifications For Your Hotel Or Motel
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Safety and Health in the Workplace – Physical, Mental and Social
Safety and Health in the workplace is more than just accident prevention. A good safety program needs to look at and address all aspects of working conditions. When looking at safety and health in the workplace, we refer to the conditions as occupational in nature. So to identify just what occupational safety and health is, we break it down into separate components. The three overall components to address in your successful program are physical, mental and social safety.Physical SafetyMaintaining the well-being and physical safety of all workers and building occupants is the physical aspect of a program. Physical safety is critical in the occupational setting. There are hundreds of standards and publications to describe and define how to keep people physically safe at work. There are also hundreds of ways that employers train and educate employees on workplace safety. Physical safety is the first aspect that comes to mind when referring to a safety program. There are many other areas of well-being that need to be incorporate into a safety plan. Ones mental safety is also important.Mental SafetyWorkers mental well-being must not be excluded. If people are physically safe, but mentally unhealthy and exhausted, problems are sure to arise. If you were to ask your employees just what is mental safety? you probably would be surprised at the lack of awareness in the area. In fact many employers are unaware of the importance. One of the best ways for an employer to access the workers mental stability is to review the call-ins or absenteeism rate. Sometimes a lack of respect for ones job will result in a lack of caring. When people don’t care, they could put themselves or others at risk for physically injuries.Another area of mental safety at work is mental health of workers. Be aware of people and the anxieties that they face or are facing. Depression is on the rise and you may have workers that are battling stress and burnout situations at and away from work. Other serious mental health such as bi-polar disorder can negatively impact your work place and put workers in danger. Make sure that employees that may have a mental health condition manage it with a doctors approval. The next area of safety is that of ones social environment.Social SafetySome examples of an employee being socially unsafe is that of a hostile work environment. This takes on many forms. A hugely growing social environment is now online. The amount of time that workers spend online is huge. Although we think of online bullying as a teen problem, your company should enforce rules when it comes to just how much access workers have to internet resources. Passing on inappropriate content through emails or other electronic means can become inappropriate and led to socially unacceptable behavior. This topic should be addressed in yearly training.Another socially unacceptable behavior is harassment. Harassment takes on many forms. Either physical or sexual in nature. Either way, if people feel uncomfortable around others in the work environment, then they are not in a socially safe place.