Low Interest Personal Loans – Unsecured?

Low-interest personal loans, also known as signature loans, can often be quite difficult to qualify for. Low-interest personal loans are granted to the borrower without the lender enjoying the benefit of collateral which is why they are often called unsecured loans. It is for this reason that borrowers will find that lenders’ guidelines for such loans are often significantly more stringent.

Since no collateral is offered, as opposed to a home equity or auto loans, the lender’s only recourse in the event of default is to file a lawsuit. While it is certainly within reason that the lender could be awarded some personal property or wage garnishment as a result of a lawsuit, this is generally not the case.

In jurisdictions where wage garnishments are permitted, they are generally reserved for cases involving child support payments. As lenders find themselves financially exposed with low-interest personal loans, they will often require that the borrower has a requisite level of financial stability and credit in order to consider granting them.

The underwriting guidelines as regards low-interest personal loans will vary from lending institution to lending institution. In the case where there is a pre-existing personal relationship between the lending institution and the potential borrower, the qualification criteria will often be quite a bit more lenient.

While this is often the case, the lending institution is certainly under no obligation to make any exceptions as regards their guidelines. The parameters that lending institutions will use in order to determine whether a borrower is qualified for a low-interest personal loan are solid financial assets, job longevity, good credit rating and a low debt to income ratio.

The size of the personal loan that most lending institutions are willing to offer are often limited, sometimes to as low as $5,000. While some may offer more, it is important to remember that low-interest personal loans are often quite difficult to receive approval for. In the case of a potential borrower with less than perfect credit, they will find that the opportunity for them to receive approval for a low-interest personal loan is limited to say the least.

The situation is necessarily as dire as one might believe for borrowers seeking a loan with less than perfect credit. There are countless finance companies that specialize in smaller loans for just such borrowers. While borrowers may succeed in obtaining a loan through these finance companies, they will find that the interest rates that they are offered are often as much as 10% above market interest rates and can be paid off over a one to two year period. It is highly recommended that borrowers do their due diligence as regards researching their available alternatives.

There is another option for borrowers with poor credit, cash advance loans. Cash advance loans are also know as fast cash and payday loans; they require no credit check and, as such, the borrowers credit history is of no consequence. Cash advance loans are high-risk and, subsequently, have high interest rates and are designed to help borrowers solve immediate cash-flow problems.

It is important to remember that there are financial institutions that are more flexible than others and more open to work with a borrowers of all credit ratings. In certain cases, borrowers with poor credit may find that they can obtain a loan for up to $20,000. Of course, unsecured personal loans are obtainable by almost everyone for virtually any situation.

While unsecured loans with low-interest are not easy to come by, there are alternatives available for borrowers with a less than stable financial standing. Again, with some research and by learning what is available, one should be able to find loan package that meets their needs.

Buy Electronic Cigarette! Need Reason? Read This!

It’s a fact that every cigarette smoker around the world is often flooded with all the off-putting information about the usage of cigarettes and there is a defensible reason to justify this negative perception among people related to usage of cigarettes. It’s simple! Being the key cause of cardio vascular diseases, high BP, diabetes, lung cancer, and other major illnesses, tobacco cigarettes emit second hand smoke that is proved to have hostile medical effects.

This negative perception derived from unpleasant medical effects from tobacco based cigarettes, has resulted in the invention of an alternative to conventional cigarettes. These are called vapor cigarettes, or e cigarettes. Coming in fancy E-Cigarette kits, along with other tiny counterparts, which when put together, activates the gadget for use as an e- cigarette, Electronic cigarette is a battery powered device and does not need a match or lighter for use, but rather requires a charger to recharge the battery. Additionally, an e-liquid filled cartridge replaces the tobacco that is found in traditional cigarettes. This e-liquid is then burnt forming a flavored vapor, while the cigarette is being smoked giving the exact pleasure to the smoker as in real cigarette.

Now comes the best part: Traditional tobacco based cigarettes emit a second hand smoke resulting in the intake of carbon monoxide which is considered as a silent killer. Whereas, an electronic cigarette produces only a flavored vapor without any toxic chemicals in it and this is what make E-Cigarette kits completely safe and environment friendly.

E-Cigarettes do contain nicotine, but without any cancer carcinogens like tar. Also, since there is no flame involved, there are no possibilities for fire to occur from the usage of E-Cigarette kits. While deciding to buy electronic cigarette, it is utmost important to understand the features these modern devices possess. Furthermore, if you are novice and are planning to buy electronic cigarette, it is highly recommended to go for 1 piece E-Cigarette kits that are disposable and are good for people who are not yet sure, if this is something for them.

Cost cutting on cigarete expenditure is also one of the major reasons why many people these days prefer to buy electronic cigarette. Though E-Cigarete kits have not still been tried and tested to help in cessation of the habit completely, it is still a worthy decision to buy electronic cigarete, since they are completely safe in use and are environment friendly too.

Applying For A No Teletrack Payday Loan

No teletrack payday loan is the best for people undergoing any sort of financial emergency. This short-term loan is ideal to handle all urgent cash needs and the best part is that it doesn’t involve any sort of credit check. So, people with poor credit can also smile, as they would not be debarred from applying for this cash advance. In comparison to traditional loans, no fax no teletrack payday loan is much faster and more convenient.

Applying For An Online Loan

You can apply for the loan online over the internet and in just a matter of a couple of hours; the approval is given. For many loans, your credit history and checking account are reviewed through the teletrack method. But the more commonly used method nowadays is the no faxing no teletrack payday loan method. This saves the applicant from embarrassment as his poor credit account is not exposed for all to see. His online loan application is approved and within 24 hours the amount is credited to his account.

Requisites For Applying

  • You would need to fill up some personal data, employment details and bank account details in the online form.
  • The zero teletrack method may require you to fax some documents like the most recent paycheck or the last electricity bill.
  • You must be a citizen of the U.S. and should be at least 18 years of age.
  • You should have been employed with the same company for the past 6 months.
  • Some lenders may require you to have a minimum monthly salary of at least $1500 after deduction of taxes.
  • The lender might also check with your bank account for a debit service.

Repayment Details

The no telecheck no teletrack payday loan service is a very easy and simple process and has almost 100% probability of being approved. You also do not need to worry about any sort of rigid timing with it as you are free to apply for this loan anytime and anywhere, you feel like. The repayment of the advance amount is usually indicated on the application. It is generally the day of your next paycheck. At the time of borrowing, you would have to provide the lender with a post-dated check and they would debit that amount from your account on the due date.

The amount would also include the lender’s fee for taking the payday cash advance. Incase you need an extension for a few days, contact the office head on time. Try not to roll over to avoid paying accumulated fees on late payments. Remember, a no teletrack payday loan might be a savior for a lot of people but can prove to be a terrible burden if not repaid on time.

Riding, Running and Rebounding For Health and Fitness

What do horseback riding, cycling and running all have in common? Simple! They all require a strong, lifted core to execute and maximize the exercise. That means that rely on the use of the abdominal center, erectors of the back and spine, tuck of the butt and lift of the lower back to maneuver and they also require/benefit from open, lifted and proud shoulders.

It also should come as no surprise that the cross-training benefits of yoga and pilates, in building core strength, re-aligning musculature and developing mind-body connections are transferable to these exercise disciplines. What might surprise and delight is the use of a rebound exercise tool, the Kangoo Jumps, as a recommended resource for the devotee of riding, cycling and running to maximize cardiovascular training and effectiveness.

A young woman wrote to me recently, looking for a way and a recommendation as to how she could put less stress on her body (knees, joints, ankles, hips) while gaining aerobic and cardiovascular conditioning. A lover of Pilates and equestrian sports judge by profession, she wanted a way to maximize her fitness programming, increase her cardiovascular fitness training while preventing injury to her body. She didn’t want to run anymore because of the stress and strain it caused to her knees. I knew her connectedness to nature, the outdoors and the feeling of control through movement was tantamount to finding success for her training. While I don’t ride horses, I do understood the desire to avoid the body breakdown caused by of running. Torn, as she was, as I find it to have the closest connection one can duplicate to the experience of riding in the open, free space and having a connected feeling to the elements.

I understood the need to avoid the body breakdown as it was my personal pursuit a few month earlier. As an exceptionally active person, the older I got, the more pounding, I experienced on my knees, heels and hip joints and less and less I enjoyed running 3 miles, 2x week to keep my weight in check. As a result, last spring, I bought a pair of Kangoo Jumps and totally eliminated the pain (and recovery) in each and everyone one of my workouts. For that reason, I recommended the same option to her.

The shoes are based on rebound exercise and are a low impact rebound sport shoe designed to provide a safe platform for jogging and other exercises that are hard on the joints. The boots use a lightweight spring to absorb the shocks due to impact on the ground and create a rebound effect that reduces shock impact on ankles, knees, hips and lower back. They are Swiss designed for joggers, however, they also provide benefits for athletic strengthening and conditioning, rehabilitation and injury prevention and group aerobics. The unique “floating above the ground” sensation created by Kangoo Jumps has to be experienced to be understood.

Core balance and control are two other variables (and benefits) of using the shoes for training.

Quality vs Quantity

Kangoo Jumps deliver the benefit of 50-minutes exercise in only 20 minutes and the injury prevention potential has already caught the attention of several elite football teams. The boots can be used indoors or outdoors on paved roads, dirt paths and grass as well as at the beach or on snow. N.A.S.A. has found rebound exercise to be the best form of exercise for astronauts because it restores bone and muscle mass lost during time spent in outer space. Consequently Kangoo Jumps are recommended for people suffering osteoporosis, with the “slow-motion” steps and exercises of Kangoo Aerobics make it suitable for middle aged and senior people.

Other Cardiovascular Options

The other option I recommended, and one I personally use during the warm weather months, to avoid joint pain, is a road bike. A road bike and a trail can make a world of difference in clearing your head while building cardiovascular strength. Climbing hills with a bike will give anyone keen cardiovascular training.

As a Pilates and equestrian sports devotee, my friend already understood the reliance on core strength and easily made the connection that these two disciplines were good cross-training modalities to support the prevention and overuse of muscle and back pain; typical injuries and imbalances caused by cycling.

Fixing Solutions for Automotive Industry

Automotive industry demands high strength fasteners and precision components such as nuts, bolts, studs, screws, rivets, tie rods, shims etc. that are applied to various parts and components to hold and connect two or more surfaces or objects together in a structure.

Automotive industry uses fixing components coming in a huge variety of materials ranging from common steel to aluminum, brass, copper, titanium and plastic to other exotic materials. Choosing the material to manufacture these fixing components is essential due to difference between each material’s strength, corrosion resistance, brittleness, galvanic corrosion properties, and of course cost. Materials are basically selected on considerations of environment, corrosive or thermal extremes, magnetic properties, weight, re usability, stresses, and expected life time.

Depending on these specifications materials are classified into grades & quality standards to produce specific quality alloy mixtures that are then used to produce the fixing components. In addition to this, materials are further processed through a variety of coating, plating and hardening processes to form different specified grades of the alloy mixtures.

The various stages to enhance the metal corrosion resistance and appearance increase the cost of production that leads to expensive parts and fixing components. To keep costs within control, it is always advisable to use standardized materials. As specifying the material with specific chemical analysis adds time & cost to the whole process of manufacturing of fixing components. In a common practice, using standard materials only needs heat treating, cold working and coating to manufacture ready to use fixing components.

Quality is the primary concern for every manufacturing process and hence in order to manufacture high quality fixing tools and apply best industry practices that ensure timely deliverables, companies apply quality control methods such as computerized statistical process control archival documentation and various other approaches.

Inspection process involves utilizing tri-roll gages, hardness testers and optical comparators to ensure optimum performance. Automated sorting technologies are applied for assurance of contaminant free product for use in automated feeding equipment. Other than this, third party inspection, verification and certifications testify quality process on the go.

Used in a variety of application areas, replacing fasteners is quite tedious. It is generally best to match them while replacing. Replacing a bolt or screw with a stronger one is always now a good practice as harder bolts tends to be more brittle and may not work for specific applications. In some environments, applying galvanic corrosion methodology may result better.

Payday Cash Loan – A Short Term Solution For Getting Cash Fast

The payday cash loan is for anyone who maybe in an unexpected financial crisis and needs some cash desperately. The lending institution will advance cash that is to be paid back with your next payroll check.

Online No Fax Payday Loan

The entire idea behind the online no fax payday loan may seem very simple, but there are serious considerations that should be dealt with before hand. One of the most important considerations is to look for the best lenders out there. You can simply use the internet and do a personal search for them. There is every bit of information you need about this topic on the internet. Make sure that the people you are borrowing from are reputable and have no underhand dealings in their business. Always read the fine print.

Another important fact before you take the advance payday loan that needs clarification is that the company states in very clear terms the fees, APR and any other cost that will be inferred. The APR is known to go as high as 400% and should be seriously considered before you opt for it. The cash advance will be made to your account despite the bad credit history that you may be having which may be keeping you from borrowing from reputable firms. Payday cash loans are a good way to tide over emergency situations and make life easier for the time being.

Fax Payday Loan

Once you fill in an online application for your payday cash loan you will need to submit your documents. This is generally done through fax. The documents that you will need will vary from your personal identification to your bank account details. This is called the fax payday loan. However, more and more people are opting for the lenders who provide the facility of a no fax payday loan.

Though this form of credit is your best bet if you have an unusually bad credit score, you should realize that this form of borrowing only increases your liability and debt. It should be avoided as far as possible. Payday cash loans is for those people who live from paycheck to paycheck is a myth that has long been exposed.

It is now being universally accessed by many in the USA for various purposes other than paying bills. Before Christmas last year, about 10 million Americans opted for this loan and within a year, the number of outlets lending these loans has doubled.

Home Based Business Trends In A Fragile Economy

Home based businesses are many with some that are truly legitimate and others that are out to put a deep hole in your wallet. With today’s fragile economy, millions of people out of work and a shrinking middle class, there are those of us seeking ways to increase our financial means to make ends meet or to simply keep food on the table for our families. I’ve been a victim of the scams and have invested hundreds (if not thousands) of dollars seeking out the latest home business trend. But I have also learned a lot along the way and have acquired some tools to success that I would like to share with you to avoid any pitfalls you may experience in your search for the right opportunity.

#1. Product. You need to choose a product that literally most everyone needs. Think long and hard about this. Not everyone needs or likes healthy chocolate (I personally know someone who is allergic to it). The market is also flooded with many nutrition supplements claiming to be the next big trend. There is liquid form, pill form, shake form, juice form, etc. So which do you choose? Not to mention the expense and investment in such a venture. Don’t get me wrong. There are many fine health and wellness opportunities out there but they require a large financial commitment and again isn’t necessarily something most everyone wants or needs (we are in fact one of the most obese nations in the global market). Consider something such as cell phones. Nearly everyone has them everywhere you look and nearly everyone needs them. Even my 10 year old son is begging me to get him one since many of his friends already have them. The cell phone industry is exploding and more and more companies are popping up on the market.

#2. Affordability. As I mentioned earlier there are many legitimate home based business opportunities but they require a large financial commitment on your part and with a fragile economy this just isn’t an option. So along with the right product you need to have the right price. Opportunities that are too inexpensive (such as an opportunity for only $97) require hundreds of people in your downline just to make a few hundred dollars. Home based business opportunities that are too expensive are simply that-cost prohibitive and you don’t stand a chance at seeing a return (such as those opportunities that cost $1995-$3995). I’ve found that the latest legitimate home based business trends are priced between $300-$500. These are reasonably affordable even in a fragile economy and can get you up and running in no time. It will have you seeing a return on this investment within a few weeks to a few months.

#3. Team. I can’t stress enough how important it is to have a strong support system in place. Too often we are left to fend for ourselves after signing on with an opportunity and spend months trying to figure everything out ultimately ending in failure. A duplicatable, automated selling process, turn-key system that can run on auto pilot is vital to being successful with a home based business opportunity. These duplicatable systems can be achieved through websites and lead capture pages (which are generated by the company and given to each of their reps to build their business), DVDs explaining the opportunity and most importantly a way to market your business through offline methods (such as postcards and sales letters) in addition to online methods such as pay per clicks or cost per clicks. There are other online methods such as blogs, social media, articles and more but these systems are not easily duplicatable by everyone and requires a great deal of research, practice and trial and error to be successful with these methods. With the flood of online advertising, offline old-school mailbox methods such as postcards promoting an opportunity are becoming the trend among home based businesses.

#4. Leverage. The fourth and final point is leveraging a powerful system with the right opportunity that allows you to:

1. Make a lot of money

2. Make a lot of money quickly (and I don’t mean within 48 hours-let’s be reasonable here). You could with the right system be making money within a few weeks to a few months.

3. Be able to work from home only a few hours a week on a schedule that YOU decide

4. Have a business working for you even when you are not-translates to a 100% automated sales process from the moment your prospect sees your offer. This means:

-No personal selling
-No phone calls
-No hotel meetings
-No emails
-No sharing with friends and family

There is a lot to consider when seeking out the next home business trend. What I can tell you is from my experience, by using the tips I have mentioned as tools for researching and crafting a home business opportunity that’s right for you, it will greatly increase your chances for success.

Quit Smoking(elektroniskas cigaretes)- Have You Kept Your New Year's Resolution?

I guess the holidays are a time of reduced stress and anxiety and then of course time to quit smoking. How many times have you tried to give up? And each time it becomes more difficult doesn’t it? You need to know that you are not alone: 90% of smokers are experiencing the same pain. Now you can quit smoking safely and easily with Vice-Breaker.™
It won’t happen to me… Many smokers harbour the secret hope that they will be spared the disease and death that follows nicotine addiction. Don’t be fooled: With four million people dying every year due to tobacco use around the world, the odds are not in your favor. Statistics show that tobacco kills more people than AIDS, drugs, accidents and alcohol together. Quit Smoking Now! with Vice-Breaker™
Whether it’s cigarettes(elektroniskas cigaretes), pipe, tobacco or e-cigarettes(elektroniske cigaretter), smoking harms nearly every organ of the body. It’s the cause of 87 percent of lung cancer deaths and is responsible for heart and blood vessel disease, stroke, cataracts, impotence and more. According to a recent report,heavy smoking in midlife more than doubles the risk of developing Alzheimer’s disease and other forms of dementia two decades later. And, an epidemiological study that compared the average lifespan of 34 000 smoking doctors with a similar group of non-smokers, showed the smoker’s lifespan was reduced by 11 minutes for every cigarette(sigarette elettroniche) smoked!

A very recent study concluded that women who smoke from a young age are at greater risk of developing breast cancer. Moms-to-be need to know that women who smoke have a greater chance of certain pregnancy problems or having a baby die from sudden infant death syndrome (SIDS). And exposure to smokers is still a major cause of asthma attacks in kids. Quit Smoking Now! with Vice-Breaker And did you know that every time you light up you are inhaling a lethal cocktail of more than 600 additives as well as nicotine? Tobacco companies had been allowed to put additives in cigarettes(sigaretta elettronica) for over 30 years without any public scrutiny, its time to quit smoking.

Second-hand smoke Every smoker knows that evidence abounds that second-hand smoke kills and passive smokers are subjected to as much danger as smokers. Now there is even talk of the danger to health of third-hand smoke found in the curtains and upholstery in smoking areas.

Quit smoking aids There are numerous quit-smoking aids on the market, from hypnosis to drugs to nicotine patches and gums. Electronic cigarettes(elektronines cigaretes) are popular, just like the nicotine patches and gum, qualify as a smoking alternative, not a quit aid. e-cigarette (cigarros electronicos) do not cure the addiction or the habit. It is counter-productive to substitute a nicotine delivery device that looks, for all intents and purposes, just like the cigarettes(cigarro electronico) we are working so hard to break free of. They are largely untested and the amount of nicotine in them can vary, as well as other possibly harmful chemical ingredients.

So what do I recommend? Only 100% Uncategorized herbal anti-smoking remedies whose safety has been confirmed. They are usually formulated to help reduce nicotine cravings and reduce the symptoms of nicotine withdrawal, such as stress and irritability. Vice-BreakerTM, is such a supplement, with the added benefit of cleansing the lungs at the same time. Because of its impressive track record, safety and efficacy, I have seen to it that Vice-Breaker™ is available in South Africa.

Weight gain Many smokers are concerned about weight gain after quitting and use this as an excuse not to quit. You’d have to gain a very large amount of weight to offset the many substantial health benefits that a smoker gains by quitting. Watching what you eat and going for a 30 minute brisk walk daily will ensure you quit without gaining much weight.

Things I Have Learnt About Commercial Real Estate Prospecting

In commercial real estate today, the prospecting model that you develop will make or break your career. Far too many agents overlook the requirement to develop a prospecting model as part of their business day and business week.

It takes about three months to establish and grow your contact base from consistent prospecting. It takes about the same time to lose momentum in both listings and commissions.

Most people are entering the commercial real estate industry understand the need to prospect and cold call. Unfortunately most of those people will reluctantly undertake the process and avoid it at every opportunity. Over time that will have significant impact on their income and market share.

Here are some ideas to help you with your commercial real estate prospecting model. You can use a variety of these strategies and add some of your own based on your local area.

  1. Understand where your market is located. Determine exactly where your business will be coming from. That will involve both a geographical area, and or property type. You can then focus your efforts into the region and talk to the right people.
  2. Know who you should talk to. When it comes to talking to business proprietors and property investors, the right people with the correct levels of decision or control should really be the focus of your attention. The business community will offer great opportunity to you providing you prospect into it every day. You will find so many leads relating to tenancies, rentals, sales, and purchases. Asking the right questions is the key to the process.
  3. Have something worthwhile to say. The people that we talk to have limited time and will initially give us little of their attention. For this reason, the first initial point of contact has to be relevant and to the point. This says that you should have something worthwhile to say that is of interest to the prospect. You may specialize in sales, leasing, or property management. Your opening conversation should center on one or more of those issues and how it may be of some use to the prospect.
  4. Create supporting systems as part of your contact call process. It is a fact that we should be talking to many people every day. The only way you can effectively do this is to have some form of database and follow-up system. It is a personal process that cannot be delegated to administrative staff. In only that way will you achieve ownership and accuracy of the data.
  5. Take action every day. Systemized action will get you further into your market so that you can assess results when it comes to meetings, listings, and commissions. The prospecting process should feature as one of the first items in your diary every day.
  6. Return to the same people as part of a contact plan. Over a 90 day period you should be returning to the right people that have some relevance to your property market and or market share. It is quite likely that it will take three or four telephone calls to the right person before you will get a meeting. Consistency is the key to the process.
  7. Have something relevant to talk about and some information that the prospect requires. A successful contact process will normally involve relevant information that is up to date relating to the local property market. You can create a newsletter as part of that process.

The prospecting process is a very specific business process. When you treat it with respect, your commercial real estate market can be much stronger with both listings and commissions.

An Outline of Personal and Business Loan Categories and Their Uses

The number of loan products have increased over the past 20 years as economic necessity and a demanding public in need of specialization to solve financial circumstances. From personal loans, educational loans, business loans and even municipal loans to touch on a few required various industries to be creative. The entities that took part in the creation of the various financial products are actuaries, risk management professionals, “information and informatic engineers” and Wall Street amongst others. It was necessary to create, enhance or break down for better or for worse loan services and products to keep money fluid in a diverse marketplace that required funds to address niche demographics.

  • Personal Loans

Signature Loans – A signature loan is just as it sounds. One applies for a loan and gives a signature on a promissory note to repay the loan in a certain amount of time. That amount of time is called a “loan term ” and may be from six months to five years. Signature loans usually require good credit and the criteria for loan approval are mostly based on the borrower’s credit and and to a lesser degree on assets. Not all signature loans have the same parameters for qualifications. Some loans may require the borrower even with good credit to account for assets to show the lending institution for underwriting purposes. The institution may or may not place a lien on the assets but nevertheless wants to have documentation proving that there are indeed financial or physical assets owned by the borrower. Signature loans usually come with lower interest rates than other types of consumer loans like payday loans, credit card advances, title loans and some car loans. More on these topics later. Who are the lenders in signature loans? They range from large subsidiaries of auto manufacturers to banks, savings and loan institutions, finance companies and payday loan companies.

Credit Card Loans – Credit Card loans or cash advances from credit cards are another form of personal loans. These quick loans are more readily available to the general public and does not require a credit check. To obtain the initial card more than likely required a credit check or at least the process of identification for secured credit cards. Credit card loans or advances usually come with higher interest rates and also other fees for having access to the cash. Various entities allow access to the credit card cash advances from bank tellers, check cashing facilities and automated teller machines (ATMs). The fees vary based on source used to access the funds. To lower the fees for cash advances some use check cashing facilities to have the card charged and receive cash back in turn for not having to incur the fees of ATM machines as cards are assessed a fee twice; first by the ATM company and also their bank. The interest rates on credit card loans or advances are usually higher than signature loans. There are some states that have usury laws that have lower interest rates on credit cards. The loan or advance on a credit card is not a “term loan” as with most signature loans. It is more or less a line of credit the borrower has access to when they need it as long as there are funds available on the credit card. Interest on consumer loans are no longer tax deductible as in previous years. They were designed for short term borrowing needs but many have come to use their credit cards as a regular source of funds in tight economic times or between paychecks.

Wedding LoansA relatively new form of loan to carve out a niche for the lending industry and meet the needs of the increasing costs of weddings is the Wedding Loan. Because of the expense of weddings which can range into six figures, it sometimes requires a personal loan or even a business loan of the families involved to provide a proper wedding. Wedding loans can be secured (using assets for collateral) or unsecured (signature loans) to obtain funds for the ever growing need to pay for the escalating wedding costs and all the various services and products that a successful matrimonial ceremony would need. The credit criteria and the term may vary based on the amount needed and financial status of the people involved.

Payday or Cash Advance Loans is a fast growing market because it usually requires the least of credit criteria used for loan approvals. One can have bad credit for a quick and instant loan. Just having proof of income, proof of identity and a checking account is all that is necessary to secure funds. Even today many have checking accounts without checks one can still obtain a cash advance by asking their bank to produce a one time check to give to the payday loan agency. Many payday loan companies and stores can get approval with no faxing of documents as they utilize other means for proof of income. Although payday loans come with very high annualized interest rates they sometimes are the only source of emergency cash loans for those in need.

Automotive, Motorcylce, RV (recreational vehicle) and Boat Loans – These personal consumer loans are usually not signature only loans but asset based loans. In other words a financial lien is placed against the asset to secure a loan to purchase or refinance the car, boat et al. These consumer loans may sometimes require a down payment of five to twenty-five percent to secure enjoyment and use of ownership. Because these are not funds that are already available as with credit cards they come with a “loan term” from one to six years depending on the choices of the consumer, the marketplace and the credit status. The interest rates can range from very low usually offered by manufacturers of cars, motorcycles, RV’s (recreational vehicles) and boats to very high if the borrower uses a credit card, a finance company or a “buy here – pay here” lender – or the car dealer who finances the purchase of the car by giving the borrower a term of months and years to pay the balance of the loan off.

  • Business Loans

SBA (Small Business Administration) Loans are loans that are given to small businesses which are not able to qualify for a loan from a financial institution for various reasons from lack of business history, lack of collateral to “secure” the loan or not having an adequate credit history. The SBA is not a direct lender but acts as an underwriter on behalf of the bank that funds the loan for the business entity. If the borrower defaults on the loan the SBA will pay the bank a percentage of the balance for taking the financial risk to loan the funds to the business. There are various types of SBA loans which will not be covered in this article but a future article will explain in more detail.

Conventional Business Loans are loans that are either unsecured meaning no asset is used to approve the loan or secured and called “asset based loans” where assets from inventory, equipment, accounts receivable or real estate are used for underwriting for loan approval. Conventional business loans are given to business entities that have great banking relationships, established business credit history with trade lines with other businesses they do business with and good standing with various credit reporting entities like Dun & Bradstreet. There are short term loans with interest only payments with the balance due at the end of the loan usually referred to as a “Balloon Loan”. There are also longer term loans that are fully amortized (principal and interest in each payment) paid over one to five years or more.

Equipment Leasing is a financial instrument which technically is not a loan. Meaning based on tax ramifications and who owns the equipment – leasing is just that – leasing an asset owned by another entity. Leases are usually from large corporations or a bank. The lease term can vary from one to
five years or more and there usually are tax benefits to the business entity in leasing new or used equipment.

Equipment Sale Leaseback is a transaction to use equipment that is already owned by the business or municipal entity to secure funds for the present need for operations. The term can vary from one to five years and the amount of funds can vary based on credit history and a percentage of the fair market value of the equipment. The company then in turn leases the equipment back in usually a monthly payment. The company or the lessee normally has different choices on what they want to do with the equipment at the end of the term. They can roll the lease transaction into newer more updated equipment or software. They can buy the equipment for one dollar or ten percent of the fair market value of the equipment.More and more companies are leasing today as opposed to paying cash or using bank lines or loans.

Merchant Cash Advance is used by businesses that need fast cash and can’t qualify or don’t want to go through the process of getting bank approval for needed funds. A Merchant Cash Advance is also not a loan product but it is the selling of assets or credit card receipts at a discount. In other words the Merchant Cash Advance company buys the credit card receipts and then attaches a fee usually every time the business “batches”, settles or closes the day’s or week’s sales until the funds advanced are paid off. There is no term with merchant cash advances as it is not a loan so there is no set payment amount or period. The paying off of the advanced funds vary based on a the credit and debit card transactions of the day or week.

Factoring Accounts Receivable Invoices enables a business entity that normally has to wait 30 days or longer to be paid by other businesses or governmental entities. Again factoring is not technically a loan but a selling of invoices at a discount for cash now. In a typical transaction the company applies with a Factoring Company and the company looks primarily at the credit of the other business or governmental entity that the company is doing business with. Based on that as long as the client of the company is a solvent business or government agency the invoices are bought and funds are dispensed to the business usually within three days of due diligence on the company they are transacting business with. In other words the funds are dispensed after there is a credit check and processing of the other company. The dollar amount that is advanced can vary from fifty percent of the invoice to eighty or ninety percent depending on various factors such as the size of the invoice to the credit criteria of the other company or governmental entity whether it is a city, county, state or federal agency.

Medical Factoring is a financial transaction that benefits medical entities like hospitals, clinics and various health care professionals that have to wait to receive funds for services performed on patients. Like Factoring and Merchant Cash Advances Medical Factoring is the selling of assets in this case invoices for cash now. In many instances the health care industry receives payment from third party entities like insurance companies, Medicaid and Medicare and state entities that provide funds for those in need of medical procedures. The medical facility or professional in turns sells the invoice(s) on a on going basis or one time for cash now. Once there is an interest is selling the receivables then a Factor steps into analyze the billing so that funds can be advanced. This process can vary in length but is usually shorter in length than the process of getting bank financing.

Contract and Purchase Order Funding allows companies to bid on large projects for governmental agencies, hospitals, universities, prison systems and municipalities or also to sell to larger corporations even if the business does not have the credit or bank approval or the wherewithal to service or fulfill a large contract order. Similar to Factoring which works hand in hand with Purchase Order Funding it is not a loan but a simultaneous transaction that involves advancing funds based on the credit of the governmental agency or larger company and the size of the contract. The funds that are advanced are for the cost in completing the order of products or performing services. So the profit that will be gained is not advanced but the costs as in raw and finished material, transportation, production, labor, expertise and any other costs involved in completing the contract. Once the contract is completed or once an invoice is ready to be sent to the client a factoring company which is sometimes owned by the same company buys the invoice at a discount and the funds that would normally be advanced to the company are usually used to settle the amount advanced for the material and other services that were needed to complete the order. Contract and Purchase Order Funding usually requires large transaction amounts as opposed to factoring that can be utilized for invoices as small as one hundred dollars. With the use of Contract and Purchase Order Funding companies that were locked out of the process of bidding on large contract s may become players in multi-million dollar deals.

Commercial Real Estate Sale Leasebacks are similar to Equipment Sale Leasebacks featured in this article. Instead of utilizing owned equipment to secure cash when bank borrowing is not wanted or not available the commercial real estate is used to access funds now. This can vary from office buildings, medical buildings, retail franchises, industrial buildings and manufacturing to large utility plants. This frees up cash “locked” away in real estate. Many entities find that at the present time the business they are in whether it is retail, manufacturing or another field that the holding of commercial real estate is not in their best financial interest for now. They prefer to put to use funds for their industry. So a retailer selling retails goods decides to focus on the retail operations and to lease the space because that real estate when factored into a myriad of calculations does not fit their financial goals during the present time. Yes the ownership of commercial real estate is an asset and can be used as a security for a loan but may also be viewed as a fixed non-performing entity that does not meet the needs of the business, organization, group or individual that owns the building. Commercial Real Estate Sale Leasebacks are another form of getting access to funds and has increased over the years.