Basics Of How Applying For Credit Facilities Work
The credit system is a funny business. It is a system based on a trust that lenders will lend and borrowers will repay. Lenders get to make a profit from giving out loans and credit, and borrowers get access to funds for emergencies or other investments. Given that banks can borrow low cost…
The Flipside Of Credit Nobody Wants To Hear About
Credit, or leverage, is the key to wealth building. A business can grow faster because of credit. And an individual can apply leverage to accumulate assets he cannot afford to now. Life is unpredictable and we can never know when we might lose out jobs and be asked to leave our desk…
Emergency Funds – Term Loan Or Credit Overdraft Account
It is the twentieth century and no longer do people keep a sack of currency notes in the corner of the bedroom for emergencies. When it comes to making preparations for a buffer of emergency funds, there are actually countless avenues that are available to the general public. But it almost always will be 2 choices that…
Risky Nature Of Acquiring Real Estate Using Home Equity Loans
While financial freedom gurus and seminar junkies might insist that going full leverage to build a real estate empire, it is a rather risky move when you are an inexperienced investor. The self-defeating irony is that the people most receptive to such radical ideas are newbies. Imagine if you had gone waist-deep into debts against everything you…
7 Crucial Items Evaluated For Company Loan Applications
As you can expect, instead of conducting their own audit on your accounts, lenders focus their attention span on just a few critical items from a company’s financial statements when assessing a business loan application. Whether your request for funds get an approval or immediately rejection is more often than not, dependent on one (if not all)…
How Lenders Assess Bank Statements For Business Loans
There is no standard credit criteria that is applicable for all companies trying to get a business loan. Different lenders will have their own guidelines passed down to their analysts. Even different companies can go through different sets of guidelines when they are at the same lender. The differentiating factor that groups applicants to different categories, thus…