Tag Archives: bank
Same Day Loans: Helping Hand In Your Urgency
It happen number of times that your budget goes out of control due to unexpected expenses. During this financial urgency, one always thinks to take loan that can provide them relief from these expenditures. If you are also looking for the external help then go for the same day loans.
It is designed to help the borrowers in their urgencies. Like with these funds you can pay off your medical bills, electricity bills, grocery bills, library bills, credit card dues, home instalments and computer repair expenses. In this financial help you can get the instant cash approval. The borrower can expect the grants within 24 hours in their bank account after getting the approval.
Through this financial aid, you can borrow the amount ranged from & 8356;100 to & 8356;1500. However the repayment term varies from 14 to 31 days only. The only disadvantage with this fund is that it charges a slightly higher rate of interest because it is of short tenure.
There are some prerequisites which one has to fulfil in order to qualify for the cash. Such as, borrower must be employed for the past few months; income received from the employment should not be less then & 8356;1000, borrower need to be over 18 years of age and had a valid checking bank account.
Bad creditors can also take the funds as no credit check is involved in it. Borrowers having bad credit problems like CCJs, defaults, arrears, late payment, etc can also solve their urgent financial issues through this financial deal.
You can easily apply for the amount through online application method. For this you just have to fill a simple application with some relevant details in it. It is advisable, to pay the loans in time for avoiding debts.
Same day loans are short term loans which offer you instant cash in your difficult situations. This financial help is very easy to obtain and are open to both good credit as well as bad credit borrowers.
Business Loans – 7 Reasons Not To Use A Bank (Page 1 of 2)
So you’re a small business owner and you need a business loan to further the objectives of your company. Where do you turn?
When it comes to a business loan or commercial real estate loan, there are many good reasons NOT to turn to a traditional bank. Here are some of the most important reasons. Many small business owners, will find most of these points directly applicable to them.
“THE BANK TURNED ME DOWN”
Of course the biggest reason most small businesses go looking for alternative sources of commercial real estate loans is because they have been declined by the banks. Small businesses are often forced to look for other sources of funding because the banks will not provide it. This is not even listed below, since there are many positive reasons to prefer non-bank funding, EVEN IF YOU CAN get an approval from a bank.
REASON 1 – The minimum loan amount available from banks is too high
In many cases banks will not offer a commercial real estate loan for less than $250,000. So if you only need $100,000 you will be pushed to borrow more than you actually need. Or if your property will not support a $250,000 loan you are out of luck with the banks.
The solution is to look for an alternative funding source that can provide a lower minimum amount. Some commercial financing services will go as low as $100,000, and will often give you better terms and much better service than the traditional banks.
REASON 2 – Many traditional banks will charge you an up-front “commitment fee” just to examine and process your application
Banks usually think they are doing you a favor by processing your application, so they will often make YOU pay for their attempts to win your business.
The solution is to find other established and credible lenders who are eager to offer you better service without charging you a fee for processing your application.
REASON 3 – Most traditional banks will severely limit the amount of cash you can get from a commercial real estate loan.
Banks usually have very narrow rules about where you can use the cash derived from a commercial real estate loan. If you need a cash injection for your business, or want to use the proceeds from a commercial mortgage as a down payment for another property, most banks will not be interested in that type of loan.
Look for a lender who does not restrict your use of the cash derived from commercial real estate loans. Some services, (see links below) can provide commercial loans that give you up to $1 million in cash to use however you want.
REASON 4 – Most traditional banks require detailed business plans before approving a commercial real estate loan.
Many small businesses have business plans, but they are usually not sufficiently detailed to satisfy the banks. As a result, applying for a commercial real estate loan from a bank can turn into a very time consuming and expensive process. Creating the type of business plan that is adequate for the banks will usually cost thousands of dollars.