Many people have found themselves in a situation where they have unexpected costs before the next payday. How can you get money in advance and save yourself from headaches? You simply obtain a paycheck advance. Who gives you the paycheck advance? Your employer can pay you money before the next […]
Also referred to as “crowdlending” or “P2P lending”, this option is where creditors are connected with borrowers via an online service. The peer-to-peer lending company collects a fee for their services, which includes assessing the credit of the borrower. In most cases, collateral is not required in P2P platforms.
Much like payday loans, a micro loan or “mini loan” is for a small sum of money for a short period of time. Also known as “emergency loans”, they will also come with relatively higher interest rates.
In this case your pension acts as an asset much like a house or car. The loan is taken out according to the value of your pension. The downside is that this often involves a long-term payment plan against many more of your pension payments to come. Some companies require that the borrower must buy a life insurance policy that names the company as the beneficiary.
When small business aren’t eligible for other loans, they rely on merchant cash advance. This can help them secure funds and stimulate growth. What are the benefits of a merchant cash advance? Quick and easy cash flow to allow smooth operations. When you have unexpected costs and your partner are […]
Pros No credit score checks. The payments are secured by credit card sales. Straightforward and quick approval process. Other types of loans require applications and time-consuming paperwork. Perfect for small business owners that aren’t required to prove their profitability. No collateral is required. Cons Cash flow is interrupted because part […]
Being a business owner is a tough job. At a certain point, you might find yourself in lack of funds. Don’t forget that your clients might be late with their invoices so that the cash flow will be disturbed and you can’t make significant payments. In these cases, business owners […]
In one of our previous posts, we discussed student loan forgiveness. When you accumulated a mountain of debt, this seems like the ultimate solution. The truth is that forgiveness programs are prone to changes, making it challenging to have your debts erased. How does student loan forgiveness work? Student loan […]
Refinancing a student loan is the right choice in the following situations: When you find a loan with a better interest rate. When you work in the private sector, such as a non-government organization or government agency. This brings eligibility for student loan forgiveness. To improve your credit score. Refinancing […]
Student debt is one of the massive problems for graduates. Many try to solve it with student loan refinancing. Besides, we explain how it works and the main difference between consolidation and refinancing. How does refinancing work? Refinancing of student loans means that you get a new private loan to […]