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Sharing the Wealth
Dr. Orville Boyd Jenkins
A review of the book by Asheesh Advani
Business Loans from Family and Friends (Berkeley, California:  Nolo, 2009.  287p.)

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I recently discovered the Nolo series of business and financial resources.  This book by Asheesh Advani is another excellent contribution to the practical reference library being provided by this focused company.  I received my copy of this book as a Publisher’s Advance Reading Copy in December 2009 and read it in the next few days.  I had read other books form Nolo ato see what they had to say about this important business topic.

This volume addresses the concept of private money not often discussed at the public level.  Working in real estate investment, I have found colleagues using this method to enhance the returns for acquaintances who are earning 1% or less as their money sits in "savings" accounts, meanwhile actually losing value in the rapidly rising devaluation of the dollar as inflation rises with the printing of billions of unsecured US bank notes.

This book provides insights and specific procedures that allow real estate investors or other entrepreneurs to share the wealth even as they increase their own ability to create that wealth by use of borrowed capital.  Who better to pay interest to than family and friends, in contrast to paying out more money to the banks, who are primarily responsible for the current catastrophe in real estate and the US economy what large?

I was impressed with Advani's easy handling of the details of legal and economic concepts and requirements involved in setting up loan arrangements that protect both the borrower and the lender.

The author assumes nothing, providing detailed and clear information on every level of each aspect of loaning and paying back money.  But his lively, active and focused style will not put off business people already familiar with the basics.  The details Advani provides here are very practical.  It appears he leaves out nothing, and this book can continue to be a constant reference in ongoing transactions one might need.

He discusses ways of structuring loans, payback schedules amortization renegotiating if conditions change, and many other considerations.

I suggest that everyone starting a new business or expanding their sources of short-term or longer term funds for expansion make use of this wonderful practical source from Nolo.  Best of all this resource provides a way to share the wealth and while broadening the foundation of wealth production in the economy.

See related reviews and articles on this site:
[review] Being Legally Prepared for Business
[review] No Longer a Victim: Financial Knowledge, Enabling Power

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Posted on Amazon and OJTR 19 December 2009

Orville Boyd Jenkins, EdD, PhD
Copyright © 2009 Orville Boyd Jenkins
Permission granted for free download and transmission for personal or educational use.  Other rights reserved.

Email:  orville@jenkins.nu
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