Tag: Loan

Effective Ways to Fix Your Credit Score

Effective Ways to Fix Your Credit Score

A credit score is simply a three-digit number. It allows banks or financial institutions or other lenders to gauge the financial strength of their borrowers. It also enables them to guess if the borrower has the ability to pay back the loan at its accrued interest within the stipulated time. For example, if you have had a merchant cash advance bad credit, it will also reflect on your credit score. Lenders have to deal with all kinds of clients. They use the credit score as a benchmark against which the creditworthiness of any client is assessed. From the client’s perspective, the higher his or her credit score, the […]

How to Get a Restaurant Loan? Everything You Need to Know

How to Get a Restaurant Loan? Everything You Need to Know

The hospitality industry is one of the competitive niches. According to Statista, there were more than 660,000 restaurants in the spring of 2018. If you think that is startling enough, some 11,000 independent restaurants closed their doors in 2017. Generally, the main concern with a majority of the restaurant owners is how to get financing for restaurants, to stay afloat and remain competitive. Unfortunately, accessing funding for restaurants seems like a Herculean task. In any case, most of the lenders perceive this industry as volatile, and this makes the whole process tough. Fortunately, we’ve compiled a step by step guide that highlights everything you need to know about […]

How to Acquire a Loan with a Low Credit Score?

How to Acquire a Loan with a Low Credit Score?

There are numerous reasons why you need to borrow money. For those with a high credit score, you may not have difficulty in acquiring a low-interest rate loan. However, a bad credit rating makes it quite challenging to qualify for such loans. The picture below shows the credit ratings and their interpretations. Since it can take years to fix a credit score, you may be able to find a lender who accepts borrowers with medium to low credit scores. Fortunately, there are a lot of options available, which would show you how to qualify for a small business line of credit. Most people do not realize the importance […]

Small Business Loans Offered by the Government of India

Small Business Loans Offered by the Government of India

India stands 3rd alongside US and UK nurturing world’s largest start-up base, as confirmed by NASSCOM in its 2016 Report. The country boasts around 40 million Small and Medium Enterprises (SMEs) including both registered and non-registered entities involved in different sectors comprising IT, manufacturing, food processing, and packaging. These SME’s can be referred to as key factors driving the growth of India and contributing about 40% of the country’s Gross Domestic Product (GDP). Hence, the sector has gained recognition from the Government with the “Make in India” initiative. It is playing a significant role in promoting and supporting more SME’s to participate in the growth drivers of the […]

7 Types of Loans You Should Know About if You Own a Business

7 Types of Loans You Should Know About if You Own a Business

There are many factors that go into owning a business. You have to effectively manage and hire new employees, look toward the future of the company, and much more. One of the most important areas of business ownership is finance. Finance covers a variety of topics including payroll, investments, and sales revenue. As a business owner, you should also be well versed in the different types of loans that you may be able to apply for and how to start the process. Read on to learn about 7 types of loans that you should know about if you own a business. Stock Loans Stock loans, also known as […]

How to Consolidate Business Loans with Bad Credit?

How to Consolidate Business Loans with Bad Credit?

Financial struggles have, unfortunately, become an integral part of the modern business world, as small businesses are bound to encounter certain financial roadblocks on their climb to long-term success and solvency. While these roadblocks might seem insurmountable at first, there is nothing an experienced business leader won’t be able to achieve with proper financial management, even in the darkest of times. The key to resurfacing as a profitable company might lie in debt consolidation, a practice used by struggling businesses to pay of all outstanding small business loans and extend their repayment time to several years with reduced interest rates. Let’s break down the subject and define the […]

Why Getting an Estate Loan Could Be the Best Thing for Your Startup?

Why Getting an Estate Loan Could Be the Best Thing for Your Startup?

If you are a budding entrepreneur with plans for a startup, chances are, you have gone through the basic 12-step guide to starting a business. It is also possible to hit a roadblock on finances. Most guides will tell you to turn to crowdfunding but your success in that depends on how well you can promote and market your startup idea. However, if you have recently been the recipient of an inheritance, I can tell you a quicker way to fund your business idea out of your pocket, now. Once the benefactor has passed away, legal processes and settling of bills and estate can take anywhere from six […]

How personal finance software can help you out of debt?

How personal finance software can help you out of debt?

You can accomplish any task even personal finance with the right equipment and know-hows. Computer applications excel in simplifying the most complex tasks. Why not use one of many financing apps to help you pay off your debts? First, you have to consider what kind of debts that need your fiscal attention. Whether they’re housing, automotive, educational, or medical, each is bound to have their own set of hidden interest fees. You’ll also need to calculate Annual Percentage Rates and factor in additional expenses. Listed below are some key areas that financing software can help you through. You’ll be amazed at how many processes one or two programs […]

How to Repair Your Credit Score?

How to Repair Your Credit Score?

Any defaults on your loans, most usually student loans, car loans or mortgages should be fixed as soon as possible. The damage to your credit score due to these mistakes is huge and remains on file for up to seven years, preventing you from getting the best from your finances. This includes taking on personal loans, getting a better APR through consolidation or refinancing, and affecting your credit card rates. Here are a few ideas on how to fix bad credit. Know the Numbers Credit score repairing begins with credit reports. Thus to assess the amount of damage you have to repair, you should know your baseline. Ask […]