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Category: Loan

  • Last Minute Expenses: Do You Have a Backup Plan?

    Last Minute Expenses: Do You Have a Backup Plan?

    Being strapped for cash isn’t a pleasant experience at any point in your life, but if you are struggling to balance your finances and are hit with an unexpected, last minute expense, it can be catastrophic.

    So, what’s someone unlucky in money supposed to do when job loss, a car breaking down, or a pet getting sick hits at the least opportune moment? This is when your financial back up plan comes into play.

    1. Sell your stuff

    Selling your stuff is one of the faster ways you can accumulate some cash without adding to your credit. There are lots of options to get rid of your stuff, including online classifieds, eBay, Facebook buy and sell groups, or even pawn shops. If you can survive without it, selling your car is a good way to get some cash and to cut some of your expenses all in one go.

    1. Pick up a part time job

    If you have the time, getting a part time job can help prop up your finances when you’re in dire straits. If it’s around the holidays, part-time retail positions are plentiful. However, if you don’t. have the time or need to be in the house for kids or pets, online work platforms are now abundant and can be a quick and easy way to make some extra cash.

    1. Get a short-term loan

    A short-term loan is a loan you plan to repay in less than a year (and usually much sooner). These loans are not like bank loans and the borrowing amount usually starts low, even just a couple hundred dollars. This can help you pay off the unexpected expense and then repay the loan on your next payday. If you view MoneyBoat.co.uk you’ll be able to get a deeper understanding on a short-term loan and if it might be the right option for you.

    1. Ask for a loan from family and friends

    This can be an uncomfortable situation for a lot of people, and for good reason. Taking a loan from friends and family can be potentially toxic since it can create bad blood. Especially if you aren’t able to pay the money back quickly and they are forced to ask for the money back. Good rule of thumb is to make sure you give them a date you will pay the money back by and not make your loved ones ask for the money.viview

    1. Say no

    If the unexpected expense is something that is optional, you may have to say no, even if it’s uncomfortable. This could include: being asked to stand in a wedding party or being a wedding guest, outings with friends, birthday parties, or other events where you’re expected to spend money. While it might be awkward to explain to your friends that you can’t attend due to financial difficulties, it’s one way to make sure that you don’t spend money you don’t have on something that is optional

    To make sure you don’t end up in this situation, you should try to make sure you have an emergency fund in place to help tide you over when the hard times hit. Even if you can only add a few dollars to it every pay day, it will help you get over the hump of unexpected expenses when they hit.

     

  • No Assets, No Problem: 5 Ways Lenders Have Moved Forward to Help People Establish Credit Without Collateral

    No Assets, No Problem: 5 Ways Lenders Have Moved Forward to Help People Establish Credit Without Collateral

    When it comes to your personal finance, no matter how much you try to budget or save, there comes a time when you will be short of money. This is when you start thinking of looking for a way out of that family or health emergency or maybe you are in a fix and you need quick cash. “I need to take out a loan.” Then you remember the bureaucratic process of getting one from the bank and it tires you. They need some collateral and your house is on mortgage and that you have no other collateral whatsoever that you can give, disappointment. All these worries are now in the past, thanks to the introduction of good faith loans that require NO COLLATERAL. So then, if there is no collateral then what? Below are some ways the lenders have made life easier with no assets required for loans.

     1. Offering Good Faith Loans.

    The usual bank loans require you to provide them with an asset of your choice to act as an assurance that you will be able to pay all your loan in due time else the bank will take the asset. But for the good faith loans, mostly known as signature loans, the lenders provide loans free from collateral, what in the business field is called unsecured loans. All this, in a bid to meet your personal finance problems.Impressive, right?

     2. Ease In Application.

    Normally you would have to go to the bank, fill pages and pages of documents then you are told to wait for a while for your loan to be processed. This means that you have to pay a couple of trips to the bank. That is no more, with the advent of online banking platforms, you can easily get a loan while watching your favorite TV series. You can easily visit a site and get a good faith loan where you will be given an easy ‘how to’ steps on a quick loan, with most of the sites being easy to use and quick to navigate.

    3. Fewer Background Checks

    Earlier loans required a thorough check, which could even pass for a lifestyle audit, but for this, you need not to worry about that. The lenders have now come up with the kind of loan that deals on your creditworthiness only without considering the collaterals you have to give up for. So all you gotta do is fill up an application form loan online and wait for your loan

     4. Real-Time Loans.

    These good faith loans come in handy not just for your personal finance, but it comes in real time. You can either receive your loan in record time that is usually less than a day if not instantaneous. Most of the times, people take loans and usually neglect what is called loan origination fee. Basically, this is the cost expressed as a percent of the loan you are requesting as a means of ‘financing’ the loan processing. Unlike that, these good faith loans are processed free with no percentage cuts. So, what you will be required to pay back on the return are only the expected fee and its interest, and that is it.

    5. Flexible Loan Amounts.

    You may be wondering about the size of these loans considering your signature and promise to pay is the only thing they need. Contrary to the belief of many, these signature loans can go to thousands of dollars based on your credit score. The interesting bit is that these loans charge less interest for bigger loans. This means that signature loans have flexible interest rates making them more affordable. Their repayment schedule is also flexible and manageable. So this means less pressure for you.

    Conclusion

    So, next time you need a quick save on family, health issues, or any other emergency, give a go the signature loan.  Considering that the ways and benefits listed here are just to mention a few, the rest of the benefits will suit you, making the loans more interesting, less tedious, and above all, less stressing.

  • Personal loans with instant approval – Have you considered your options

    Personal loans with instant approval – Have you considered your options

    Financial emergencies can be tricky and uncertain, and we are not always prepared! Relying upon personal loans from credible lenders with correct paperwork can be the lifesaver you are looking for

    A loan is a feasible choice for many because it helps meet your emergency monetary demand. The main purpose of personal loans is to assist people financially when their finances are a bit low and they don’t have any other source to rely on. During such times, people in need of some quick money are a bit hesitant to ask around their surrounding for money due to various reasons. At such times, if any emergency arises, you would be extremely relieved if you have any facility to help out your situation financially.

    Personal loan is simply a type of short term loan ranging from mortgage loans, credit card loans or even finance for a car that has to be paid back in a fixed timeline. The immediate accessibility of personal loans is nothing short of a boon for the common man.

    Earlier you had to search for such lenders however, with the introduction of online loan lenders; the method has become a straightforward task enabling an eligible recipient to get money in no time. The loan time interval and approval time are considerably lowered with the assistance of developments in the technology.

    Future is uncertain

    Life is full of surprises; you cannot tell what is going to happen in the next few minutes. In fact, you never know what to expect and no one has the power to foretell the future. You don’t know if someone in your family is going to fall ill or your car breaks down and needs repair in the idle of the month.

    The condition for such a loan is that the receiver can come back to it on an agreed day with an interest. The thought of a personal loan is to assist you in your hour of want so you don’t face the embarrassment of asking others or acquire dangerous credit because of the non-payment of your bills. This is reason enough to avail for a personal loan.

    Sometimes by not paying a bill on time, you may get to forgo the discount offered on the bill. If the discount could be a sizable quantity then it’s going to be a wise plan to require a loanable sum of money and pay the bill on time and then economize with the discount.

    Easy availability

    There are several lenders available easily to give you personal loans. The conditions for applying for the personal loan appear to be lenient as most of the factors are reasonable for any working man. This loan is structured to be really short pattern, most up to successive day. Once it is approved, the amount is going to be attributable into your bank account and you don’t have to worry concerning the loan amount.

    The collateral security for the personal loan may be a previous check that should be cleared on the day. The check should carry the required quantity and the explicit finance charges and the investor can directly send the check for clearance. The simple clearance is yet another advantage that avoids the hassles when the matter of compensation and debt clearance is concerned.

    No credit checking

    Many appreciate personal loans since it doesn’t require any credit checking.  People having bad credit can even be ready to avail this loan, no matter what their credit status is. For approving the personal loan, the recipient should be of eighteen years of age and have a source of income. Many loan lenders are lenient when it comes to the rules and supply relaxation for the employment.

    This loan appears to be the shortest loan amount and it varies between fifteen to thirty days. In most cases, if you are dealing with an equivalent debtor, they will give a lot of credit step by step. The recipient should additionally posses a legitimate credit bank account to allow the dealings to be made easier.

    The option of personal loan should not be your regular choice because the rate of interest of this loan is incredibly high as compared to the likes of normal loans. The personal loan should be closed among a month, on the personal rate. However, most of the loan lenders give roll over for this type of loan because the recipient won’t be ready to repay the quantity in time.

    Equality is the order of the day

    You don’t need to provide your employment or any alternative personal details. It just needs some basic information which won’t harm your privacy. The procedure to use for the loanable amount is incredibly straightforward and can be done from the comfort of your home.

    You just need to visit the company’s website and look for the loan amount you would like to take. Then you may be needed to give some basic details like your employer’s name or your checking account details in which your money will be deposited. After the loan is sanctioned the money is transferred to your account.

    Your information is secured

    To be eligible for these personal loans, you don’t need anything big. Just give all of your necessary details that are kept private by the corporate. You need to have a valid checking account and a monthly pay so the loan quantity may be subtracted mechanically from the account on the agreed day.

    Conclusion

    Most corporations provide you with the choice to specify the amount of loan you would like to subtract monthly. If the amount isn’t much, the company can deduct the complete loan quantity from the account at one go.

    Each client is valued equally, all thanks to the no credit check personal loan offered by such corporations. This means that even customers with bad credit history who are denied loans from other sources, can avail of such loans instantly like the borrowers with good credit history.

    Going through a rough phase? Facing some tough decisions? Embarrassed to ask your friends or relatives for help? Well, personal loans might just save you the embarrassment and save your life. So, go online and avail today!

  • 4 Mistakes to Avoid When Applying for Small Business Loans

    4 Mistakes to Avoid When Applying for Small Business Loans

    The truth is that if you are an entrepreneur, it doesn’t just require you to have a working business idea; however, it also relies on how you raise the capital. Talking from a realistic perspective, no business can start or expand without enough money. Often, business owners (small business) face financial difficulties, which push them to let go of what possibly could have turned out being a worldwide changing idea.

    Now, many financial institutions are ready to finance and support brilliant ideas of entrepreneurs through small business loans, but you can just get financial backing if you are able to represent yourself as a strong business package.

    Not all financial decisions take place in a vacuum. Today, banks conduct a thorough assessment of the applications they receive before they proceed with an approval. In such a case, unfortunately, so many small business owners end up missing these loans and this is all because of poor business ideas, and a lack of clarity on their business loan application.

    Know that even a single mistake you make in the application could decline your request for a loan. In many cases, this is because the lender may not examine some information or loan application requests. However, if you wish to avoid rejections, then here are some of the common mistakes you should watch out for when applying for small business loans.

    Having Outdated Financial Records

    A common mistake that most small business owners make when they seek a loan from their financial institution, such as Aurumfi, is not taking more time to work on all their financials. All banks need to require you to provide this information in order to determine exactly how stable your business actually is before you risk investing money in it.

    In this case, if your aim were to work on expanding your business, then any financial institution would want to make sure that your business is stable enough to repay the loan when the time comes, or whether it can sustain itself in the future or not. The information you provide regarding the business has to be tangible and clear.

    Since most loan providers demand this information, small business owners end up creating figures to please the bank, forgetting that the bank still verifies the information you provide on the application. Eventually, this leads to denials of the loan verification process as it shows different figures from the one you provide. The right decision is, to be honest with the information you fill in the applications and you will increase your chances for loan approval.

    No Clear Use of the Funds

    Any organization you choose, lending the loan would keep a keen eye on exactly how you as the applicant plan to use the funds to boost the success of the business. Unfortunately, another common mistake that small business owners make is not having a clear and well-described idea of how they should spend the money that they request. Eventually, this leads to denials of loans by most lenders since the lender will not be able to know whether you can repay the loan with the interest.

    The lender wants to know that you spend the money on the right things that will improve your business position. They want to see all your business needs and evaluate whether the amount you wish to borrow is enough to meet all your needs.

    As the loan borrower, you have to show the lending party that if you receive the loan, it will improve the performance of your business and create a good impact. Ensure that your points are clear and the benefits you wish to get with the finances you that you qualify for in the days to come.

    Late Application of the Loan

    So many businesses wait until it becomes too late for them to submit their application for the loan. Usually, this happens when they are desperate for the business funds. This is something that makes them go for any offer. At such times, some of the offers that the small business owners take up turn out with higher interest rates and unfavorable terms. In order to avoid all these, you should take some time and search or the best loan providers or people who can help you make the right decision. Before you make a choice, however, do it slowly, and give yourself enough time to evaluate the different choices that you need for the growth of your business.

    Applying for a Wrong Business Loan

    From the view of a financial expert, before any owner applies for the loan, they need to consider the capital that they need and the right type of loan that works for your area. Before you apply for a loan, you need to know there are different types, meant to cater to different needs of your business and hence if you wish to borrow, you have to match your needs with the right type of loan.

    This simply means that if you apply for an inappropriate loan, this could end up costing you much more on the interest rate. Hence, it is always advisable that you do a complete research on the right type of loan available, one that matches your business needs, to reduce the chances of encountering a rejection.

     

  • 4 Ways to Use Your Bank to Achieve Your Startup Goals

    4 Ways to Use Your Bank to Achieve Your Startup Goals

    While Hsieh has a point, especially when it comes to finding your startup passion, the fact of the matter is that you do need some capital when launching a startup – no matter how small it is.

    And you certainly need a business bank account.

    Perhaps your needs are simple (a separate business checking account). Maybe they are slightly more complicated (a line of credit). Wherever you are on the spectrum, and whatever niche your company operates in, you want to be working with a bank that you can count on for the long haul.

    While you must not solely concentrate on your current needs (always be looking forward), the fact is that how you utilize your bank and your banking relationship can play a significant role in growing your company.

    Here are four ways to use your bank to achieve your startup goals.

    1.  To obtain necessary financing

    During the development of your small business, there is a high likelihood that you are going to want to obtain the necessary financing to take your company’s operations to the next level.

    So, you may be asking about how to get a loan in Dubai (or wherever your business is located)?

    When you are shopping around for a bank for your startup, ensure you ask about their small business loans and whether they have any types of loan products available for your firm’s needs.

    Additionally, if you require startup capital, your bank will be able to discuss various solutions such as guarantees, receivable finance, and import and export finance solutions. These are significant if you want to engage in international trade.

    While there are some other options for obtaining financing (hey, friends and family!), your best choice is to go with a bank.

    2. To get a business credit card

    There are many reasons why having a business credit card is an essential part of growing your startup.

    However, one of the most important is the fact that having a business credit card will make it a lot simpler for you to keep your business and personal expenses separate. It also provides for an accurate record of your business expenses.

    If you opt to apply for a business credit card, make sure you choose a bank that offers you substantial cashback and bonus points whenever you use it.

    3. To stay organized online

    Similar to #2, your bank can aid in keeping your startup finances organized. In order to do this, you want to be utilizing their online banking tools.

    Even as a startup, your records must be carefully reported, accurate and comprehensive. Therefore, as long as your bank works in conjunction with online software (such as QuickBooks, Mint, Freshbooks and Wave Accounting), then it can significantly aid you in staying organized.

    A bank that is technologically capable will allow you to securely access and read records online, and will enable you to perform online payments as well as schedule them.

    The service ADCB international transfer allows for fast, simple and safe fund transfers all over the world, thanks to the bank’s competitive exchange rates and established global network of banks.

    4. To protect your business

    One of the most meaningful ways in which your bank can assist you as a startup is by providing you with insurance. As you undoubtedly know, diving into the deep end and starting your own business does not come without substantial risks.

    For this reason, you want to be guaranteed that you have exercised the necessary steps to safeguard your business and personal assets.

    Prior to selecting a bank, speak with the bank manager about the types of insurance they provide to protect your business and decrease the danger you assume when you become your own boss.

    For your best interests

    When embarking on your startup journey, keep in mind that one of the most valuable relationships you will develop is with your banking institution. You want to nurture and grow that relationship because it will only work to your advantage in the long run!

    Put it this way: your bank manager will guide you, advise you, direct you, assist you and help you accomplish your business goals.

    As your business progresses, so will your day-to-day banking needs. And you would definitely want to ensure that you are working with someone who has your (and your firm’s) best interests at heart, and who will be looking out for the interests and welfare of your company.

     

     

     

  • Why Payday Loans Are a Good Emergency Cash Source

    Why Payday Loans Are a Good Emergency Cash Source

    Payday loans have a bad reputation and movies have seen them associated with shady figures extending cash advances to desperate people to help them out of a fix. The payback in this Hollywood context is usually to menacing loan sharks coming to collect with some force.

    But nothing is further from the truth with modern payday loans and many reputable lending institutions are prepared to help you with minimal hassle and fuss. They are a good option for sourcing emergency cash for those with bad credit records or a poor credit score.

    There are a few myths about payday loans that prevent those in need from even considering them as an option. So here are a few facts to bust those myths about payday loans:

    Myth 1: My reason for a payday loan isn’t good enough

    The fact is the folks you’re asking to lend you money won’t be asking what you want it for. Nope, you don’t need to give them a reason, and there is no requirement under any consumer laws for you to state why you need a loan. What you do with the cash is your business, whether you’re using it for Christmas shopping, a holiday, urgent dental work, car repairs or spending it on groceries. No one is going to judge you on the other side of your application.

    Myth 2: I won’t get it because I can’t pay it back by the next payday

    You can extend a payday loan and pay it back the payday after next. If you negotiate the payback terms, it will usually cost you extra, but it can be done. But do try to pay the debt back as soon as you can and don’t consider a payday loan if you’re already in a big debt hole.

    Myth 3: I’ll never get a payday loan because of my bad credit record.

    You’re wrong. Most lending institutions offering payday loans won’t carry out a credit check, and if they do so, it will be only to determine your fee and the rate by which you pay them back. Remember, if you had a good credit score there would be other products on offer to you, and you wouldn’t have to consider a payday loan.

    Myth 4: I don’t own assets.

    This doesn’t matter because your monthly wage acts as your security. If you fail to pay the lender can apply for a court order to ensure your employer pays them before they pay you.

    But what you do need to qualify for a payday loan is a permanent job and an active bank account that your salary is paid into. Also, your loan will be paid into your bank account so having one is a prerequisite.

    Look for responsible financial institutions that are affiliated with member organisations and comply with government credit regulators during your research. An example of such a lenders are lender who offer emergency loans for people with bad credit records or a poor credit score.

    The internet is the best place to search, and most good lending institutions will state their credentials and track records on their websites. They will even feature testimonials from satisfied customers.

    The lender will list its criteria and would want to know that you’re in permanent employ and earn a set amount of cash per week.

    To qualify for a payday loan from most lenders, the criteria will require that the applicant is at least 18 years of age, lives in the country where they do business, and has an active bank account where funds are regularly transferred electronically, among other. You will also be required to provide some form of ID as part of your application.

    Responsible lenders will remind you that if you already have debt, then you shouldn’t be adding to your burden by applying for a payday loan. They advise you to rather turn to debt counselors for assistance than to opt for an unsecured loan like a payday loan.

    Remember, the person arranging your loan is not there to judge you so don’t worry about them digging into your files and exposing your credit history. You will also be able to negotiate more flexible repayment options or extend the due date if you encounter any problems while repaying.

    As long you bear in mind that extending the terms of a payday loan will cost you extra in fees. Also, bear in mind that a payday loan is going to have a higher interest rate than a secured loan.

    Use a service to get quotes from four reputable lenders within minutes, you can have cash in your account within an hour by simply completing an online application form and providing the documents required to meet the lender’s criteria.

    Author Bio:
    David Giltner is a Senior Content Marketing Specialist. His long experience as a blogger made him an expert on different niches like technology, finances and home improvement.