At what age should you stop term life insurance?

By design, term life insurance policies are set to expire or terminate at some point, whether the risk occurs or doesn’t. If you’re alive when this happens, you may be able to prolong, renew, or convert your policy to ensure cover regardless. However, for most people, especially the elderly, the mystery is the specific age to stop term life insurance and consider the alternate whole of life policy.

Using whole of life cover like the over 50s life insurance comes with numerous benefits. For starters, it allows you to pay constant premiums which makes it easy to plan and budget for. Also, insurers commonly qualify the applicants irrespective of their health or lifestyle. Moreover, if you die within the first year of applying, your nominees can still claim a return of the premiums paid.

How to know when to stop using term life insurance

Below are four factors that can guide your decision:

Status of the beneficiaries

Are your death benefit nominees still dependent? If those you wanted to cover when applying for term life insurance are no longer dependent on you, it might be time to stop financing your term life policies. Ask yourself whether you and your beloveds can live normally if your income stream suddenly cuts off. Do you have the means to cover your daily expenses and needs, including those that you provide for?

Your spouse’s capability

If your spouse is capable of supporting your dependents in your death, you can let go of term life insurance. Explore their capabilities carefully and discuss your decision with them. Consider whether they have risk management mechanisms to ensure your beneficiaries still get cover past the death of both of you.

Status of your expenses and responsibilities

Term life insurance policies, like mortgage insurance, can be helpful when you suddenly die. They assist in offsetting your expenses and responsibilities ensuring your family copes well thereafter. However, if you’re now past the age where your death has minimal costs and consequences, then term life insurance might be irrelevant.

Life insurance needs

Every new day you live is a chance to reassess your life insurance needs, their changes, and their effects on your death. For example, you might purchase a term life policy to help your children complete school even in your absence. If they accomplish that without your risk of death occurring, then term life insurance is no longer useful.

Always remember that your need for life insurance, whether term or whole of life, changes with every life event that matters to you. Some events can be temporary others a lifetime.

Why stopping term life insurance matters

The major shortcoming of term life insurance is that it offers no cash value. Put otherwise, it’s not an investment but rather an assurance that when you die your family will have financial security. It is paying for something that you or your family may never use, even if the possibility of needing it is there.

The irony of this downside is that it’s also a benefit since it makes term insurance policies more affordable. Whether you die or survive past your term, you’ll have accomplished the tasks or responsibilities that matter to you.

Whole of life insurance as an alternative

Unlike term life insurance, whole of life policies provide coverage throughout your life. It guarantees financial security regardless of your age, lifestyle, or health status.

Moreover, if you live long enough, the policy matures and you can cash in its funds as the contract ends. But with most of these covers having their maturity age between 95 and 120, chances are slim you will outlive them. Still, if you die before its maturity date, your beneficiaries will get the death benefits.

Whole of life insurance as an alternative to term life insurance is relevant if:

  • Your financial obligations, which need cover in your absence, still exist past the termination of a term life insurance contract.

  • Your current term life insurance policy is convertible. If your insurer allows you to exchange your term life policy for a whole of life one, this is a good opportunity to retain cover.

  • The term life insurance policy is no longer renewable. Some term-based policies have age limitations which may bar you from qualifying.

Do you have any questions regarding term life insurance? Share them in the comments below and we’ll be happy to help.

Getting a Home Loan for a House in Bad Condition, Is it Worth It?

Getting a home loan can be stressful. If you’re planning on buying a house that needs a lot of work, it increases the burden.  

You have a variety of loan products to choose from and one of the most popular methods today is “streamline refinance”. This is because it’s a simple way to refinance with reduced documentation required. The loan process is more efficient, and the approval process is much faster.

A dilapidated property may be a bargain, but is it worth the challenge? This article explores how to approach finding an fha mortgage for a fixer-upper or home in need of major renovations. 

Mortgage brokers are still an important part of obtaining a mortgage loan. Most mortgage lender like the ones from the website https://arvadamortgagebrokers.com/ work with banks to help fund home mortgages. But, it’s not always easy to find decent mortgage lenders which are going to be able to supply you with the best terms and rates on your new mortgage.

It’ll help you ask the right questions before you seal the deal and set off securing a loan. Read on to ensure you make the transaction worth your while. 

 

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Start With a Plan

According to recent research by the National Association of Realtors in the US, there’s been a slight decline in the sale of distressed properties. It also shows a small increase in purchases by investors from 2019 to 2020. 

Keeping these market trends in mind, it’s important to plan before you buy or secure your loan. Are you planning to buy a fixer-upper for yourself as a restoration project? Or are you trying to find an investment property to renovate to sell and make a profit? 

If you’ve got a plan in place and have set your goals, it could reduce the stress and the risks associated with securing a loan for a house in poor condition. You’ll know what to expect, what you’ll need, and be better prepared when you apply for a mortgage. 

You should also study the guidelines set out by local lenders and your regional authorities about the condition a house should be in to be eligible for a loan, and whether it’s deemed to be ‘in a livable state.’ The basic requirements are usually a solid roof structure and no serious damage to floors and walls. 

 

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Opportunity and Risk 

Part of your plan should include an assessment of the opportunity versus the risks. If you’re not comfortable doing this on your own, you should seek advice from a seasoned property investor. 

During an interview on the topic  ‘How to sell Jacksonville house fast‘ experts offering quick sales solutions and who also invest in property recommend that you look for a company with a reliable network. You should also look at their previous success stories and test their knowledge of funding. 

Know what you’re in for in terms of repairs against the true value of the property. You should quantify the risk of buying a run-down house against the repairs you’ll need to do, especially if it’s an expensive structural overhaul. 

Seek prudent advice on the opportunities available considering the capital you need. You should look at reselling potential and check that you don’t over-capitalize on a place that won’t ever offer a return on your investment. 

 

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Budget for Repairs

Some lenders may be more hesitant to offer finance if extensive repairs are required. Draw up a budget for the refurbishment and get a written quote or estimate on what the reconstruction will cost you. 

If you know the scope of work upfront, plus what you need and can show how you plan to finance the project, the financial institution may be more forthcoming. You’ll need to get an appraisal done too and, in essence, prove that the home is worth the requested loan amount.

You could also consider getting support from a federal entity, and this is known as a government-backed or issued loan. Another option is a construction loan. This will help you cover the building project’s cost before you get your home purchase funded in the long run.  

 

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Ongoing Maintenance

Apart from the initial costs and repairs, consider the bigger picture and ongoing maintenance costs. This is particularly important when you’re buying an old property that needs constant care or even preservation if it has any historical prominence. 

It’s essential to keep the property in good nick after it’s been fixed up to maintain the value. This is essential when you’re planning to resell down the line and want to make a profit. 

 

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Final Thoughts

You can get a loan on a house that needs work. It may require a bit more preparation and planning on your part. It could definitely be worth your while doing some homework upfront to understand the financial requirements beforehand completely. 

BKR is loan register in Netherlands. Blacklisted people in the register should be often in problems to apply for a loan with acceptable conditions. BKR blacklisted persons should search for term “geld lenen zonder BKR” and after that they can find several loans comparator, which help these people to get the right loan.

Seek guidance from an expert in investing and ideally someone with a reliable network of buyers and knowledge on funding in the area you’re planning to buy. Then get written estimates for the renovations to present as part of your overall funding plan. 

It may be tougher, but it’s not impossible, and going into the transaction well informed about the risk versus the reward will most definitely make buying a home in need of repairs worth your while.   

Is It Worth It To Take A Loan For A Loft Apartment And List It On Airbnb?

A Business Opportunity For The Savvy

When the economyis in a questionable condition, it becomes wise to make savvy business moves with care. Right now, the United States economy is poised to make a huge leap; but simultaneously, it could take the deepest dive it ever has. For those with property, and the means to leverage that property toward profit, there are opportunities.

For those without property, it can be worthwhile to get some. And also, there are some situations which combine both qualities. For example, what if you were able to rent a rental as supplemental income? Say you live in an apartment in a city where, despite the present insanity, the economy is working well. Now say you listed that apartment on Airbnb.

Suddenly, you’re able to schedule people to stay at that apartment in a non-rental situation, making more money than you would if you rented it out. $50 a night is $350 a week, or $1,400 a month. Airbnb’s often list higher. You could jazz up an apartment that costs you $700 a month, and start making money back on it within a few months’ time.

Here’s the thing: if you’re going to “get the ball rolling” on that sort of income scheme, it will take a little time. After about half a year, you can “get your feet” under you, figure out what you can expect, and set reasonable metrics to hit for profit on a regular basis. But that first six months can be tough. A loan can make this business model feasible.

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Looking Closer At This Tactic

Essentially, you take out a loan and pay the landlord whose apartment you’ll list as an Airbnb in advance. Once you get the unit listed, you try to get enough tenants during the interim time to pay off the loan. If you can do it, then you simply keep going at a profit from that point forward.

Now if you live in the apartment you’re renting, you’ve just got to find a secondary place to live. This is what the loan could really be for. Your previous income goes to the new apartment, and the loan is paid off by Airbnb renters until you’re “in the green”. At that point, you’re making a profit, and you can either save it, or turn it into another similar property.

Before doing something like this, it’s integral you check into local laws of the community where you’re intending to pursue such a scheme. Essentially, you’re turning a landlord into a middle-man at that point. Some will be for it, but the law is against these sorts of businesses. Some will be adamantly against it, but he law is in your favor.

Research is absolutely key. Once you know what the law is in your area, check out where the economy is booming. Sometimes everything is working but your local market. What you might want to do is look at investing in top-tier apartments somewhere like Dallas. There are some absolutely fine Dallas Texas lofts available right now.

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Crunching Some Numbers

So say you take out a $20k loan and get an apartment in Dallas, then list it as an Airbnb, hire a cleaning company, and see if your business model works. Very well, you could have just discovered precisely the sort of supplementary income you need to solidify your present situation, and expand from it. Even beyond that, you might be able to make more money.

Oftentimes people rent out their home as a means of getting such income. Sometimes they’ll just close off the basement and live there “on the sly” as lodgers come in. This is a real thing, and it’s really worth considering. Again, the only thing you want to be leery of are local laws, and your landlord.

If you can’t get your money back from a loan, that’s where you know this isn’t the best idea. Also, loans in general can be a risky proposition; especially when the economy is rough. If you’ve got good credit, you can pay them back incrementally; and it may even expand your credit score, provided you renegotiate terms at the right time if cash is short.

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Determining If This Is A Choice You Should Consider

A better idea is having capital on-hand before you pursue such a scheme. That said, most people thinking this way aren’t doing so because they’ve got oodles of cash just lying around. So there’s that to consider. At the end of the day, you’ll have to weigh the pros and the cons of such a scheme carefully.

What’s sure right now is that Dallas has a stable market, and you can find clear regions of profit in terms of real estate if you’re savvy enough to follow through on them. So look into your local market, or external markets which could be worth the trouble. This might be just the angle you’ve been looking for.

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Renting: The First Step Towards Home Ownership

Walk Before You Run

There are many things involved with owning a home that people don’t realize. Before you buy, it’s very wise to rent. This will let you know what to watch out for. In terms of maintenance, there are often repair people who landlords use to keep units operating as they should. However, finding the right repair people as an owner represents a different prospect entirely.

Property values come in waves. When the market is up, if you can “catch a wave” in terms of real estate, you can ride a “profitability” half-pipe right into prosperous beaches. However, if you don’t know what you’re up to, then the real estate wave will wipe you out.

Right now, the waves are in a confusion owing to the pandemic issues, and even experienced market forecasts are all over the map. For those in a position to buy within the next year or two, it might be wiser to rent presently not only as a precursor to owning property, but as a means of treading water until the market is more predictable.

Still, even if you’re the owner of a property that isn’t building equity, that doesn’t mean you’re without options. Subletting your home can allow you to pull in extra income which can either be invested, or used to pay off whatever mitigating debts you’re dealing with.

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It’s Important To Understand Associated Legal Information

Rental options don’t often allow subletting, but then again,there are some that do. Before signing a rental agreement, look at the contract, and check local residency laws of the community where you’re considering this move. If you don’t check, you could be impacted by something preventable.

With rental, you’ll get a taste of maintenance, you’ll get a taste of neighbors, and you’ll get a taste of laws that are involved with varying eccentricities of residency. The big downside of renting is that you aren’t expanding or retaining the property of the unit where you live. You can’t get back rental money; mortgage money will come back to you eventually.

However, with a mortgage you’re in a more-or-less permanent residential situation; at least until the mortgage is up. That’s the tradeoff. With an apartment, you can just eject if you have to, and eat the cost of the damage deposit. Also, apartments are smaller, so you don’t have as many belongings.

That said, many modern options exist which make the moving process less difficult. If you’re going from an apartment to a residence where you own everything on the premises, you can actually move everything free through options such as UMoveFree. This may very well be just what you need, because the truth is, unexpected costs develop all the time.

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You Should Expect The Unexpected When Owning Property

Beyond maintenance and general upkeep, things happen in apartments which—if not checked—can totally impact the landlord’s ability to profit. Imagine a hypothetical scenario where pipes buried in the seventies suddenly burst and flood out the basement units in a building. The landlord has to get the damaged fixed fast, and also deal with residents.

A landlord owning a rental community does much of what you’ll have to do owning your own property. Most properties come with land, and when you own them, by default, you become the landlord. Accordingly, you’re the one responsible for everything associated with a given property; from the inside to the infrastructure supporting it on the outside.

One thing that might be worthwhile when you’re renting is working directly with the landlord as a property manager. This can reduce what your monthly costs are in terms of rent while simultaneously giving you experience necessary for your own property ownership in the near future.

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Ownership Has Different “Flavors”; Rental Helps Light Your Path

Some things just can’t be anticipated, they must be experienced firsthand to understand. Property ownership is one of those things, just as vehicular ownership is. To give a more accurate contrast, consider the difference between renting a car, and owning a car.

When you rent a car, you drive off like a madman from the airport with a “Devil-may-care” attitude. Well, some people do—maybe not you specifically, but many who rent vehicles have just such an attitude. The rental agency must very carefully maintain vehicles owing to the abuse they’ll get. Insurance companies charge a premium to insure them.

Owning a car will put you in a situation where you can get cheaper insurance, because the insurance companies know you’ll take better care of it than a rental group. The same is true with rental properties. So there’s not a one-to-one comparison between renting and owning your property; but there are a lot of commonalities, and renting prior ownership is quite wise.

You can get better insurance deals with ownership, and you’ll likely have less difficulty on the emotional side of things repairing what you own, than waiting for a landlord’s options at a rental. Still, there’s a lot you don’t consider till you own, and if you’ve never rented, then buying first can be something you’re not prepared for. So rent first, and buy later.

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Personal Loans After Bankruptcy

Have you already gone through a bankruptcy and you are in need of some financing? You have probably found that it is difficult to get the financing you need for anything because of your bankruptcy. The worst is personal loans after bankruptcy because they are difficult to begin with. However, there is a way and here it is, Philadelphia Bankruptcy Lawyer allow you and your family to protect your home and other assets through bankruptcy protection.

Where To Apply For A Loan?

The best place to apply for personal loans is at your current bank. Call or walking to your bank and tell the loan officer that you would like to apply for financing. Before you apply, don’t forget to tell the loan officer that you have filed for bankruptcy. At this point, the loan officer will tell you your options, if any are available. If you need financial help be smart and get a cash advance on tax return and not a payday loan online. A second option is to apply for a loan at a small financial institution. If your savings union is connected to your employer, they could be a little more flexible than the average bank. There are also lenders that offer loans to individuals that have bad credit. You will need to go online to find a list of lenders that offer loans to people with a poor finance history, still, we suggest to get help from a financial advisor.

Recovering Your Good Name

To begin the process of rebuilding your borrowing reputation and your good name, you should start with a personal loan according to this credit repair reviews. A personal loan can be either secured or unsecured, and there is a big difference between the two – mainly the amount of interest that you will pay on each. Because of your new status as a borrower who has filed bankruptcy – you should expect to pay more interest on either than the normal borrower would. Keep in mind, however, that paying a bit more interest now will help build your credit back up in order to qualify yourself for bigger loans with less interest later down the road – once you have established your newfound ability to manage your credit once you have done this, getting a Business Loans Indianapolis won’t be too hard, of course this requires a high credit score.

If you are looking to apply for personal loans after bankruptcy, you are going to need to work on your credit right after the bankruptcy discharge, you could start with a fast credit repair. This is because most lenders will not lend to anyone with a bankruptcy discharge on their credit records for less than 2 years. Now this is not a “firm” rule and there are some exceptions, but as a rule of thumb you are going to have a much more difficult time trying to gain a loan in less than two year period. This rule virtually applies to anything credit related such as after bankruptcy car financing, after bankruptcy mortgage financing, etc. Visit this website and learn more here about how to manage your personal finances like a professional.

If you have declared bankruptcy within the last decade or so and find yourself needing a loan, you have a few options available to you.

If you aren’t in dire need of financial help, you can concentrate on spending a year or two rebuilding your credit as much as you possibly can before the loan becomes a necessity. In case you have the need of multiple loans, you might as well consider the federated financial payday loan consolidation services.

Find a lender that specializes in personal loans for people whose credit is bad. There are plenty of them out there but you will have to agree to higher interest rates, stricter loan repayment terms and usually a longer repayment period.

If you didn’t lose your home when you declared bankruptcy and haven’t had the equity stripped from you, you might consider trying to take out a second mortgage on your home. Second mortgages are also called secured loans and they require that you use your home as collateral against the balance of the loan.

If you aren’t in need of a large loan you might consider taking out a payday loan. Payday loans usually “top out” at five hundred dollars, but they do not require you to pass a credit check. In case you need some guidance check this pre-insolvency advice service at the link.

Sometimes after bankruptcy you will qualify for a secured credit card. These credit cards come with an annual fee that is charged to your credit account. These credit cards don’t usually come with a very high limit, but they are certainly better than not having any credit at all. In case you are looking for payday loans just visit this website and get more information.

Since one is bankrupt, he has few financial sources available to pay off the existing dues. He needs to find some ways in order to pay for the money he owes lenders. Some people lose their hope when it comes to borrowing money, because he might be stuck in another payment he cannot afford pay for. Good thing that there are institutions which offer personal loans after bankruptcy again.

But there are some things which one should be aware of when applying for this loan. Companies which offer personal loans after bankruptcy oftentimes offer higher interest rates. The good thing about such loans is that if ever you have a bad credit history, you can pull out your name on the list once that you have fulfilled your dues and that’s where credits help, so if you want to know more about getting a credit read about it here.

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If you have a bad credit record the primary concern when securing a personal loan can be that the lenders might not be interested in giving you a loan. This is because due to your bad credit the lenders might take it as a risky deal as there are high chances on defaulting on the repayments. Moreover having a bad credit usually reflects a lack of trustworthiness. Due to this fact the personal loans that are available to borrowers with bad credit come along with high interest rates that make repayment more difficult.

So, on a primary level it can be said that if you are looking to get personal loan approval with a bad credit it can be a bit difficult. You can either search for alternative loan options or look for personal loans where your bad credit will not play an important part.

If you want to know what the tips that can assist you, here are a few tips that you may find useful:

  1. Take your transactions seriously: Unlike the way the lending process was handled a few years year back now the laws and norms are made much stricter. The lenders are very particular with the requirements and rules. So you need to take proper measures to avoid giving any wrong impression that can lower your chances of acquiring loans. If you have a bad credit try to fix them by taking your transactions seriously and controlling your expenses. It would not be a good idea to hamper your credit more as that would make the approval process more difficult.
  2. Know about your financial condition: If you do not have an idea of the degree of your financial state, there is no way that you can figure out how to resolve them. So before you take any steps on fixing your finances by taking a loan try to have completely knowledge about your present financial state. You need to know how much debts you actually owe and how bad your credits actually are. .
  3. Track your credit ratings: If you can show improvements in your credit score the possibility of getting your personal loan approved increases. In order to do so you need to keep track of your repayments and report them to the credit bureau whenever they are paid. There are also few sites where you can check the present status of your report. Note if the required changes are made by the bureau in your report. If you continue this process for quite some time your credit report will reflect positive signs which can be of help when you apply for a loan.
  4. Ask help from friends and relatives: An easy way to get a personal loan is to ask help from the people who care about you like your family, relatives and friends. You can look for a personal loan from these people without any hesitation. If you are lucky you may even get them at little or no interest. It will also save you the harassments that you may have to face with the banks. However do not take these loans for granted as then you may not avail the advantage in the future.
  5. Search for banks who know you: It would be a better idea to get assistance from banks or credit unions who know you rather than unknown organizations. Even if you have a bad credit these banks will treat you with leniency and may consider your case for approval if you had a good record earlier. You can also convince them that you will repay the loan on time as they trust you. So even if you have a bad credit record there may be chances that you can get a personal loan approved.

In case you’ve been struggling to get your finances in order, you might be looking for a means to improve your financial situation. There is help available to help you build your financial base, learn more in site https://personaltradelines.com.

Note: It might sound a little difficult to get a personal loans approved with a bad credit record. However it is not an impossible task. By using some of these quick tips and by being a little prudent while implementing your plans you can expect them to get approved easily. It’s all about trying hard till you succeed.

Business Loans Indianapolis

5 Smartest Movies of All Time

Some movies will fascinate you and trigger some questions within your mind. Movies that fascinate you in this way are the ones that have powerful force of imagination behind their plot. Maybe you’ve also watched or heard about a movie like this and you’re wondering if there are more. Of course there are several ones around. In fact, some of them will continue to stay around forever.

You are yet to experience the peak of fascination if you haven’t watched these movies. They are the smartest movies of all time. Write my paper online service prepared you a list of the smartest movies of our time:

1. The Matrix

The matrix is full of cool phenomenon that changed the way people perceived the world that we live in. This movie introduced the concept of stimulated reality. Also, it generated some important philosophical questions about mankind. Wachowskis directed the movie. Up till now, there are some questions which the movie asked that are yet to be answered. Perhaps, future discoveries can answer those questions.

2. Primer

Primer is more than just a movie; It’s a science puzzle. One needs to watch the movie a couple of times before one can comprehend every aspect of the movie. When you eventually comprehend the movie, you’re likely going to feel victorious that you’ve cracked a complex puzzle. In this movie, engineer Aaron and Abe invented a machine by an accident. They thought their new invention is a time machine but they faced bad consequences when they tested the machine.

3. Interstellar

This movie utilizes the science of relativity together with many outer space concepts to tell an emotional story of a father and his daughter. The movie featured some theories which are yet to be proven, but it presented them in ways that are close to the reality.

4. Donnie Darko

This movie features the imaginations of a wealthy adolescent. The movie centers upon Donie: a young rebel. The movie creates lots of humor through its intimidating characters with strange looks. In the movie, Donnie had lots of sleep walking experience and his constant hallucinations made him to appear like someone who is detached from reality. A strange figure with costume of rabbit often appeared to Donnie to tell him some bizarre things.

5. Eraserhead

This movie is about Henry: a man who needs to help his severely deformed child overcome everyday challenges. Henry married a young lady named Mary X who got pregnant for him. Things went in the unusual way when Mary X gave birth to a strange lizard-like creature instead of a human baby. The movie has many bodily horror scenes that have some philosophical and psychological elements. David Lynch is the writer and director of the movie.

Conclusion

There’s no doubt at all that the fives movies that mentioned above are the smartest movies of all time. Ensure you watch them as many times as possible.

How To Gamble But Also Remain Within Your Budget

With the increase in the popularity of virtual casinos come stories of financial woe and addiction. We now spend so much of our time online for work and leisure that victims of online pursuits such as gambling, is inevitable.

Many of us find that the internet has made life easier. We shop online and pay our bills in the comfort of our own homes. The internet is not just for work and chores, it has also become a form of entertainment too. Gambling used to conjure an image of a male-dominated arena set in a high street betting shop. You would also be correct in assuming that most wagering would be on sports betting like football and horseracing.

Whilst this still holds true today in high street betting offices, gambling has in fact changed beyond all recognition in recent years. There has been a decline in the number of people visiting and gambling in licensed betting shops. Instead, the focus has now moved online and this has opened the market to an entirely new cliental.

What we bet on has also changed. In the UK the focus has shifted from sports to slots and these take the lion share of the betting market. Football is popular but the largest percentage of revenue was from virtual slot machines like found on websites like Wizard Slots, www.wizardslots.com, last year. What caused the huge change in betting habits that have changed the landscape so dramatically?

The Fuel Behind The Change

What ignited this change is fairly simple. The gambling industry continues to survive and prosper because it is like a pop star that has been around for decades. This industry adapts to change and reinvents itself when needed. Vitally, it is fast to embrace technological change.

Major gambling institutions have kept ahead of the digital revolution and monitored the popularity of the internet. This platform has been a godsend to them and opened the gambling market to the masses. Therefore it came as no surprise that famous betting brands shifted a large section of their services online, some years ago.

In the mid-1990s slots were developing in leaps and bounds. This fuelled an ever-increasing demand for slot games that boasted cutting edge graphics and all-round thrills and spills. Software giants in the gaming industry utilized the latest technology and gave birth to the modern video slot. These games and the move of gambling institutions online was a partnership made in heaven.

In 1996 the first-ever online casino was established. Inter Casino heralded the beginning of what was to become one of the most successful forms of entertainment that can be found online and this is still the case to this day. After the success of Inter Casino came the demand for more online casino choice and these virtual betting entities needed even more games to attract customers.

The Boom Era

By the time we left the 1990s behind and advanced into the new millennium, the increase in the popularity of online gambling continued to gather pace. It did not stop at major gambling companies offering their services online. Other new virtual casinos continued to multiply at a staggering rate and these began to offer everything under one roof.

 

Table games, slots, bingo and sports betting could be enjoyed without having to leave the house. Fast-forward to today and there are literally thousands of online casinos to choose from around the globe. All offer a huge variety of betting opportunities that cater for all tastes. The gambling market has been blown wide open because of the accessibility of online betting products.

Now those who never gambled before, as they didn’t fancy visiting a betting shop, gamble regularly. The biggest change has been the number of women who now visit online casinos. In the UK it is thought that 39 per cent of slot players are female. Another big draw for them is the inclusion of bingo.

Research suggests that the anonymity of online gambling is a major customer attraction, along with advances in slot games that are now a completely immersive experience.

Staying In Control

With so many more people from all works of life gambling than ever before, safety worries have become a major issue. There is no doubt that gambling can be incredibly addictive. The reasons behind this addiction are complex and causes are sometimes beyond our control.

Gambling is a form of escapism but if  it is used to escape from life then other problems such as financial hardship can occur. Governments across the world have responded with tighter gambling laws to protect citizens. In the UK fixed-odds betting terminals have had a maximum bet of £2 applied to them and the public will no longer be able to bet with credit cards.

We cannot stop the natural progression that saw gambling utilize the internet to the full. But we can gamble and remain within a personal budget. This will help prevent financial problems from occurring. The best way to do so is to set deposit limits on all your casino accounts. This will help prevent any overspending and if you are tempted to spend more than your set limit, you are blocked from doing so.

Betting at lower stakes on slots will help your deposit last longer and you can still win large amounts on low stakes. Players can also set loss limits that limit the amount of many that you can lose over a given period of time.

Take time out from gambling or limit the activity to an hour a day. A cool-off period blocks you from your account for a chosen amount of time. This makes it impossible to gamble. Self-exclusion blocks you for a minimum of 6 months, before you can gamble again. It is also advisable to limit the number of casinos you join as this can tempt you to overspend out of your budget range.

These simple measures can help individuals keep gambling fun, as it should be and any winnings should be banked promptly to keep finances healthy.

4 Things to Know Before Applying for a Business Loan

From covering startup costs to expanding your workforce and developing your business, you may find that you have big dreams for your company, but don’t have the financial resources required to cover the costs. Many businesses find themselves in this predicament which is why they apply for a business loan to provide them with the money they need. However, applying for a business loan is not something that you should rush into. Be sure to consider all your options before signing anything. Anyone who has started up or runs their own company will know that a successful business takes a lot of time and effort, as well as access to much-needed cash to ensure growth. So, if you are having cash flow issues and are considering applying for a Short Term Fix and Flip Loans then this guide provides you with all the information you need to know. 

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Create a Detailed Business Plan

Even though you may consider getting a business loan to help your company’s finances an easy option, the application process can often be long-winded, and you aren’t guaranteed a positive outcome of your loan, so you might want to consider a business cash advance. You will need to prove to the lender that you can be trusted to pay back your business loan by having a strong plan. While not all lenders will ask to see a formal plan, it is worth having one to refer to so that you can demonstrate your industry and business knowledge.  

Get All Your Paperwork Together 

As well as a business plan, you will likely need to have the relevant paperwork ready to provide to the lender that shows the current state of your business as well as financial projections. They may also ask for tax returns, current business bank statements, and proof of any assets you claim to own.

It is important that you gather as much evidence as you can that shows that you are a trustworthy and reliable person/business to lend money to. The more evidence you have to show this, the stronger your application will be and the more likely to are to have a business loan accepted. You can improve your chances of getting a speedy loan approval by figuring out which type of lender best fits your financial requirements. For example, are you going to be better off approaching a bank, online lender or a credit union?

Find Reputable Lenders 

You should spend some time researching the best loan companies for business owners and then compare some of the different loans that are available. For example, AdvancedPoint Capital is well known for the loans they provide that are tailored to small businesses. 

Check Your Credit Score 

One of the biggest indicators that Personal Loan Lenders will look at when evaluating your ability to pay back any money is your credit score. If you have a high score, which is around 700 or more, you will have a much better chance of being approved for a business loan at a lower interest rate. The sooner you can start working on improving your credit score the better, so you should be requesting a copy of your credit report as soon as possible. 

By doing your research on loans and loan companies, you can ensure that you make the right choices when getting a loan for your business.

9 Reasons Why You Never Stick To Your Budget And Are Always Broke

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Having a budget in place is the key to living a financially stable life that is debt-free. However, most of us might religiously have a budget every month but at the end of it all, the budget is not working and we always end up broke and more in debt, that’s exactly when we realize getting help from companies like debtconsolidationnearme.com is necessary. The numbers don’t always add up and in most cases, you happen to spend more than the figures on your budget list.

However, knowing what is causing this might be the beginning of the solution,and you will avoid spending what you don’t have and being broke every month letting you save to start a bank account at Business savings accounts | atlantic union bank for future investments. The common reasons why you never stick to your budget and end up broke are as follows:

  1.  You Are Spending A Lot 

If you have a budget deficit that is one clear sign that you are spending too much. You are most likely spending more money than you are making. However, all is not lost begin by taking note of only the essentials and be real in your analysis of what is important and what is not.  Cut off all the unnecessary expenses that you can do without. If your net income becomes a negative number after you have subtracted all the expenses then chances are you are living beyond your means and the problem is not the budget at all. The problem here is your spending and there is something you can do about it. Purpose to spend money only on basic needs. Begin by doing it for only one month and you will realize how much you can save. Resist the urge to be an uncle Sam and avoid a budget deficit which will always force you to borrow. 

Bonus Tip: If you do have times where you have bought items unnecessarily, it may be worth signing up for cashback or refund sites, they are usually free and can put money back in your pocket once you have spent it. This can minimize damage. 

  1. You Don’t Have A Budget List 

The budget might be existing, but does it exist on paper? Do you have an actual list?  You have to have an actual list of your budget, the same way you have a shopping list to guide you on what to buy. Having one will help you know the priority things to cater for. Make sure the list is made up of only the necessary expenses. Besides, writing it down will help you reference it and see the progress you have made and how far you have come in terms of your spending habits. 

  1. Not Enough Money For Some Things In Your Budget 

You are probably underestimating the amount of money you will spend on some categories.  Things like food, gas or some bills might be more than you estimate them to be. If you realize that you are overspending in those areas then it is only right that you increase the budget for some categories. This means cutting back on your spending in other areas to achieve balance and avoid a deficit.

  1. You Lack Budget Discipline  

Another reason why you never stick to your budget is that you lack the discipline to do so.  What you do is religiously write a budget and never refer to it. You write it and immediately put it in a drawer where you forget about it. What you need to do is refer to your budget throughout the month as you spend money on various expenses. Say a firm no to any unnecessary expenses even though you would love to buy Track your spending closely and compare with what you have budgeted to see how you are faring on. It is not that your income is little, it is because you simply haven’t learned how to follow your budget. Perhaps you still haven’t seen the importance of strictly following it. After many harrowing financial predicaments, it should be clear eventually.

  1. No Room For Fun 

When you make your budget you didn’t leave any room for fun and this makes you resent budgeting. This is where it reaches that time of the month and you crave fun and decide, to hell with the budget! Then you go on a spending spree of either shopping or fun times at entertainment spots within your location. Leave room for fun in your budget. Decide how much you are going to spend on fun and entertainment. You can still have fun without putting a serious dent on your budget, just decide how much this fun is going to cost beforehand. It can be very convenient for you to take your credit card on holiday with you these days, but be aware that it’s not too difficult to get into more debt than if you had just taken a limited quantity of cash. However, having the credit card with you is still recommended for emergencies or any other unforeseen expenses that you didn’t plan for.

  1. You Don’t Adjust Your Budget.

The moment you realize that your budget is not a legally binding document you will frequently adjust it. From time to time adjust your budget but not just so you can spend more. Adjust only when your income or expenses change. Ensure that your budget reflects the changes. Situations like a birth, divorce, marriage or promotion with more income might require a budget adjustment. As you make your budget adjustments, do so wisely. If you don’t make any budget adjustments, then you will have a budget that doesn’t work and in the end, you will overspend and become broke before the next paycheck comes in.

  1.  You Cheat On Your Budget

We don’t only cheat on our partners but we cheat on our budgets too. You might have overstated your income or understated your expenses. You might never get caught literally when you cheat on your budget but you will still face the consequences. You will find yourself not following your actual budget, broke and up to your eyeballs in debt. Another scenario would be having to take your savings and use them to pay your regular bills. 

  1.  Forgetting To List Some Expenses 

Sometime you could forget to list a certain expense(s) in your budget list. You will then realize that you have a deficit when you find yourself confronted with a deficit. Remember all your expenses and list them in the budget to prevent experiencing a deficit. 

  1. You Lack An Emergency Fund In Your Budget

The lack of an emergency fund is what results in many income earners failing to stick to a budget, turning to taking out online payday loans, and getting into debt. Set up an emergency fund of a few hundred dollars every month until you finally have a solid emergency fund that will cater for three to six months of expenses. This way, any emergencies that arise will never affect your budget. 

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Finally, don’t beat yourself up when you can’t strictly follow your budget. You might not stick to it in the first few months but with time you can adjust it to be perfectly in tune with your income and expenses. Don’t throw in the towel soon, just keep adjusting the numbers and incurring only the necessary expenses. When you remain persistent, you might eventually be rewarded by a debt-free and less broke life, thriving in a difficult economy.

Small Business Loans: Prequalified vs. Preauthorized

There appears to be a huge amount of misunderstanding between the terms “prequalified” and “preauthorized” in terms of loans. Many small business owners believe they are approved for a loan only to find that they are not! It is important to understand the vast difference between those two terms because a slight misunderstanding may have a huge impact on your small business’s creditworthiness. 

A Look at the Main Difference

In short, when you prequalify for a loan you are most often asked to give a whole host of information in order to substantiate your creditworthiness. Among the things you will be asked to provide will be your credit score or history and business checking accounts statements. Being preauthorized for a loan means that a lender has found you creditworthy and is willing to lend you a specified amount of money. However, there are lenders that will take you through the prequalification process regardless of your credit history. AdvancePoint Capital is one company that will research your credit but may prequalify your small business regardless of your credit.

Other Options on the Table

One of the reasons why lenders like AdvancePoint Capital can get you through the prequalification process quickly is because they offer other kinds of loans not based on your, or your company’s, creditworthiness. With loans available like cash advance discounting, your credit doesn’t weigh as heavily because loans are based on accounts receivable as well as in projected business in the prespecified future. These types of loans don’t rely on your credit but rather the amount of business expected and so credit isn’t as great a factor.Well, while traditional lenders are likely to reject your loan application, there are still a lot of alternative options you can turn to and successfully take out a loan with bad credit. Locate Your Financial Goals: So, you have a bad credit score, and you need a loan. Here is how you can approach the situation.

Avoid the Dreaded Red Flag

Sometimes the simple process of going through prequalifying for a loan can turn up a lender that is willing to preauthorize a specific sum of money. Bear in mind, however, that every time a lender runs a search, your credit score will take a hit, though a significantly lesser ding than the usual bad credit payday loans would. No matter how slight those hits are, they will eventually add up and lenders may begin questioning why you have made an application to so many lenders. This immediately raises a red flag. Isn’t it better to find financing options that are easier to prequalify for so that the dreaded red flag isn’t raised? 

Preauthorization Isn’t Always Best

Here’s a word about those ‘preauthorized’ offers you might get in your inbox after going through a prequalification process. But according to the business coach australia team, preauthorized loans are not always your best option because some lenders are simply willing to take on greater risk. They will have extremely high interest rates and in so doing, make it harder for you to repay the loan timely and in full. It might be worth your while to check out loans like the above-mentioned cash advance discounting where you are charged competitive rates and the funding is accomplished quickly with a minimal application process.

Don’t be confused between the two terms because they mean different things entirely and can have you paying more than you bargained for. Check out alternatives from a lender that isn’t as concerned with your creditworthiness as with your forecast sales/profits. Small business loans are available for owners with less than perfect credit, so take the time to prequalify and you’ll be surprised what you might find.

What Kind of Loan Do You Need?

Taking out a loan is an inevitable rite of passage for most people, whether they are heading off to college or are in desperate need of making a car payment on time. If they aspire to become car owners, then the auto loans to establish a 5 to 8 mortgage is in their future. There’s a broad range of loans out in the marketplace, a lot of conforming loan programs available, and it’s essential to understand the difference between the various types that are available. According to this continuity merchant account services each has a set of unique requirements and implications, so educating yourself as much as possible before making any financial commitment is vital.

However, there are a few commonalities that all the loan categories share. According to https://www.happypenguin.com/, the most critical of these collective factors to take into account when considering the loan is to consider the loan seriously. Borrowing money isn’t a decision to take lightly. Loans are sums of money that are paid out on your behalf with the expectation of timely repayment as interest accrues on the outstanding balance.

There are so many financial options when a large amount of money is required or funding is needed in a pinch, but your circumstances will ultimately dictate the next steps. The strength of your credit, the nature of the expense, and the amount required are generally the main drivers. As with any purchase, it’s always advisable to shop around and understand all your options or any other possible solutions before undertaking such a serious financial obligation, specially when it comes to personal loans.

Student Loans

Student loans are some of the most common loans that are issued, and probably the first exposure that most young adults have into the borrowing process. Rising tuition costs make it difficult for families to save enough for college, especially if they have multiple children who want to enroll in a university, so students and parents alike turn to the Free Application for Federal Student Aid or FAFSA to make up for the difference.

Private student loans are also available. Federal student loans typically have a lower interest rate and borrower-friendly repayment terms, while private student loans tend to have higher interest rates, along with additional fees that aren’t included in federal student loans. Whenever possible, the bulk of loans for college expenses should be secured through FAFSA. However, private loans are available to make up for the difference, if needed.

Most colleges now include a disclaimer of sorts on their websites warning students about the risks of borrowing too much money to fund their education. Prospective students must be informed that their field of study should lead to a career that will support their ability to repay any loans secured to pay for their education.

Home Loans

It’s rare for people to have the ability to buy a house in cash. Homes are usually the biggest purchase that most individuals will make during their lifetime. Mortgages have some of the lowest interest rates compared to other types of loans. Home loans are relatively low risk for the lender since they are secured – in other words, tied to the property. Non-payment can lead to foreclosure, and the bank can take possession of the property.

The lower interest rates don’t translate to ease of obtaining mortgages over a land contract, however. The inherently high cost of home ownership requires strong applicants to ensure repayment since lenders are interested in earning the closing fees and interests, not repossessing homes whose owners have defaulted on loan payments. What are the pros and cons of rent-to-own homes? Buying a house or apartment is a dream for many people. It usually requires a lot of hard work and saving, and a mortgage to help out in the process. But what happens when you can’t qualify for a mortgage? You probably don’t want to rent forever, so what are your other options?Rent-to-own homes are an excellent alternative for people who can’t acquire a mortgage because of low credit scores or some other reason.

Auto Loans

Vehicles are another significant expense that most people need to finance. Like mortgages, there’s physical property tied to the loan, so it’s essential to keep on top of the payments to avoid repossession, auto loan are typically offered through the car dealership during the buying process in conjunction with various incentives. While convenient, dealerships may not always offer the most attractive financing, so it’s important to shop around for the best interest rate, or refinance the loan with another lender whenever possible.

Payday Loans

Payday advances are short-term loans with relatively high interest rates and the expectation of quick repayment. The primary benefit of borrowing from lenders like Snappy Loans is the ease and speed of obtaining loans for use in emergencies. For example, many people may turn to payday loans when they need to make a payment urgently, whether it’s rent or a utility bill. These loans can easily spiral out of control if they aren’t managed responsibly, but the loan amounts tend to be smaller, usually with a $1,000 threshold. Don’t forget that there are many alternative online lenders with more flexible requirements, who are willing to help out starting businesses. Keep in mind that these options can be a little more expensive than traditional bank loans, but they are still a great source of funding if you want to start your business. Here is what can help you get the best possible business loan.

Small Business Loans

When looking to start a business, many people rely on outside funding. It’s common for small business owners to have little money of their own to invest other than intellectual capital, so they seek out small business loans. A successful business model will ultimately allow for a portion of the profits from the company to go toward loan repayment. Many prospective business owners look to the U.S. Small Business Administration for help, but the terms of the loan will vary depending on the nature of the business venture.

Retirement Loans

Even though you’re technically borrowing from yourself because you dis a good planning when you dip into your retirement account before you reach the legal retirement age, this is one of the strictest loans when it comes to repayment. Although it can be relatively easy to pull out the funding, there are severe tax implications if you’re unable to pay back this type of loan. Not only can you get into hot water by essentially turning the loan into an early withdrawal with related penalties, but any reduction to your retirement account can have long-term effects, even if you do manage to pay back the funds, we’d recommend looking up to the senior discounts before touching your retirement account and look for help of the professionals from Financial planner San Diego. The period of time that the loan amount isn’t working for you in your retirement account equates to untold sums of potential lost investment revenue that would undoubtedly come in handy when you have to rely on a fixed income.

This is just a sample of the available loans. Many more financial products are available in the marketplace that may be better suited to your particular situation. It’s so important to research your options to ensure you get the best financing and payment terms.

What can commercial finance do for my cashflow?

Commercial finance is an umbrella term which covers a variety of different financial products. Essentially it is a type of borrowing. A commercial finance package can be created to suit almost any purpose and can be tailored to precisely what the business needs. Used for growth, straightening up cash flow, or staying above water, commercial finance can provide a completely different alternative to a traditional bank loan.

Different forms of commercial finance

When it comes to types of commercial finance, there are lots of possibilities that are available, designed to suit your needs. However, there are several key types of commercial finance. Each one of these can be modified to suit what the borrower needs and their financial position.

Asset finance

A very common form of commercial finance, asset finance effectively allows you to buy a new asset, spreading the cost over a set period. The asset itself would act as security for the lender, with the cost of the asset divided into instalments over the course of the item’s lifespan. This can be great for a businesses cash flow, as you don’t have to cough up for one lump sum. Not only does it ease the financial burden, but you also get the chance to obtain the best and latest equipment in whatever industry you’re in.

Hire purchase

A specific type of asset finance, hire purchase means you will pay a deposit on an asset, then repay it over monthly instalments. However, until the asset is paid off, because of the hire purchase agreement, the lender would always retain control of the asset itself.

Leasing

A very similar financial product to hire purchase, but with some important differences. The technical process works in a very similar manner to a hire purchase agreement, with first paying a deposit and then paying the rest over instalments. The big difference between the two comes at the end of the leasing agreement. At this point, you would have a few different options. The asset would be returned to the leasing company, you could have the option of upgrading the item, or you could renegotiate a new lease.

Refinancing 

Refinancing is a brilliant option, when it comes to injecting your business with cash. A lender will effectively give you a loan, using your assets as security. So, if you’re suffering from cash flow troubles, but you’re asset rich, you get a significant boost to your cash flow, you’re then able to repay those loans over time, the company of this website has a partnership with many celebrities that have invested for people in need, such as the asmongold net worth  which is huge among financing and charity options.

Bridging loans

A bridging loan is a financial package designed b lenders to ‘bridge the gap’ between purchasing one asset and selling another. So, if you are waiting on the sale of an old set of offices, to afford to move into a new one, a lender would bridge you a loan so that you can move forward quicker. Perfect if cash flow is tight, but you have the money tied up in assets.

Restructuring your business

Although restructuring isn’t a form of commercial finance, using a commercial finance option to boost your cashflow can put you in a position to restructure your business for the better. Restructuring would mean taking an in-depth look throughout the whole business and assessing how efficient your business processes are. If you’re already strapped for cash, one of the commercial finance options can give you that opportunity to assess and re-evaluate.

It’s important to remember that as with any form of commercial finance, they are only likely to accept a deal if you have a good strong credit rating and can see the value in your business. Depending on what type of deal you go for, you always have to consider the effect of a debenture, which is a form of security lenders take out against you. Knowing your rights, if you debunk on a commercial finance is vital, as creditors may take legal action to get their money back.

Summary

With all the potential variety available when it comes to commercial finance and the great advantages they can give you, it doesn’t matter what sort of business you have, it’s more than likely there will be a financing option ready to help you.

With the various forms of commercial finance available, there are plenty of options set to help businesses. It doesn’t matter what type of business you have, there could be a financing option ready to help you.

How You Can Help Your Ecommerce Store Thrive in a Niche Market

As if starting an ecommerce store wasn’t enough, you’ve decided to create yours in a niche market. This can be intimidating for businesses that are just starting out, and you might be worried about whether there is a large enough customer base for your business to succeed. While there’s no guarantee whether not a business will do well (even if they are based in a more traditional market), a dedicated marketing plan can help your company to stand out.

Here are some marketing ideas to help your business do well in a niche market.

Determine who your ideal buyer is

While every company should have several buyer personas on hand in order to know how to market themselves, this can be especially important for businesses looking to break out in a niche market. Because there can be more targeted competition for the type of product you are selling, knowing your customer well needs to be a priority as you determine your branding. You should know most of the details, such as what age and gender your ideal client is and why your product is the right one for them.

Consider the resources you are providing

Because your product is in a niche market, you might have to make some choices in how you want to provide information for clients. Generalized blog posts are unlikely to work, since it is possible they will be drowned out by other markets or competitors. If you plan on providing whitepapers, ebooks, or a dedicated blog, then it can be necessary to be very specialized in what you are sharing and why. You might also need an in-depth FAQ page to help you answer any questions potential clients could have.

Don’t be afraid to experiment 

In more traditional markets, companies often already know what works to get clients onboard. However, in a niche market, it can be a bit more difficult to have an idea of what will reach potential customers. This is why you’ll want to run a number of tests to see if the strategy you are using to market your product is working or not. Try a few different ads, SEO keywords, and social media platforms to see what sticks and what you might want to avoid in the future. Set a budget and time limit for each test so you can see the overall results. 

Step outside the marketing box

More traditional markets require more traditional forms of marketing. As a niche business, you might have to look to other ways to get the word out about your product. This might mean reaching out to local radio stations or attending conventions where you can show off your product. With a niche business, it can be important to make human connections that will advocate for your product—even if you mostly plan on selling it online.

In conclusion

While a regular ecommerce store might add stability, offering a niche product can be a lot more rewarding once you start creating a dedicated client base. With a little bit of specialized marketing, you can find the perfect audience for your product and start to see it succeed.

7 Types of Small Business Loans To Know About

Small business funding is not a daunting task as most business owners often think. There are several business loan options that have been designed to suit your needs and even qualifications. Here is a compilation of 7 types of Small Business Loans plus their pros and cons. In the meantime, here, you can find the best small business loans for you in just a few minutes.

1. Term Loan

According to market review, a term loan, also known as “installment loan,” is a traditional business loan that can be obtained from a bank or credit union. The phrase “term loan” implies that the loan is repaid over a predetermined period – for example, 12 months or 3 years – with a fixed or variable interest rate on top. Term loans are very common these days that they can be obtained from the websites of online lenders, with borrowing amounts between $1,000 and $500,000. A term loan is based on your business’ credit score, annual or monthly income.

Pros of Term Loan

Get cash up-front to invest in any business purpose.

  • Loan repayments are predictable.
  • You can borrow larger amounts.
  • Loans can be approved within a few days to a week.

Cons of Term Loan

  • Low credit score may require a personal guarantee or collateral, such as real estate or business equipment that the lender can sell if you default.
  • A term loan from online lenders usually incurs higher charges than those from traditional banks.

2. Business Lines Of Credit

A business line of credit, which is much like a credit card, provides access to funds up to your credit limit and you pay interest only on the money you borrow.  For example, if you get approval for a $50,000 line of credit and you only use $5,000 of that line of credit, you are only required to repay fees on top of that $50,000.

A line of credit (LOC) is open to small businesses with lower credit ratings and it is more flexible when compared to a term loan.

Pros of Business Line of Credit

  • A flexible way to borrow- available for unexpected expenses.
  • Fast approval times.
  • Longer repayment terms.
  • No collateral required.
  • Reduced APR rates and also high maximum borrowing amounts.
  • Suitable for seasonal businesses with a low credit score.

Cons of Business Line of Credit

  • May carry additional costs like maintenance fees and draw fees.
  • Strong income required.
  • High penalties for loan repayments default.

3. Business Credit Cards

Business credit cards are just like consumer credit cards. They give you an affordable and flexible way to borrow money when you quickly need to offset your debt or pay for business expenses. So, when choosing a business credit card, make sure you pick the one that comes with the highest amount of impressive rewards programs.

For example, some cards are ideal for common business office expenses such as utilities and office supply purchases, while others are suitable for charging business travel expenses.

Pros of Business Credit Cards

  • Good for financing ongoing expenses, like travel, office supplies, and utilities.
  • Earn rewards on your purchases.
  • No collateral required.

Cons of Business Credit Cards

  • High cost, with a variable rate that may increase.
  • Additional charges may apply.

4. SBA loans

The Small Business Administration (SBA) loans are designed to guarantee the loans that are offered, not directly by the SBA itself, but by banks and other money, lenders that partner with it. With government backing, SBA loans are consistently one of the cheapest in the market with low APR rates.

In addition, SBA guarantees lenders with greater confidence that loans will be repaid. Loan repayment periods depends on how the borrower plans to use the loans. They range from 7 years for working capital to 10 years for purchasing equipment and 25 years for buying major assets like real estate purchases. If you need help with processing your business loan, you can get in touch with business lawyers in Ocean City to help you out.

Pros of SBA Loans

  • Eliminates much of the risk for the lenders.
  • Lowest interest rates on the market, between 5% and 13%.
  • Long monthly repayment terms.
  • No long time in business to qualify.

Cons of SBA Loans

  • The application process takes longer to get approved, between 3 weeks and several months.
  • Stricter requirements needed to qualify for a loan.
  • Strong credit history required.

5. Invoice Factoring

Invoice factoring or invoice financing lets business owners sell their unpaid customer invoices to a factoring company, in exchange for an advance of between 75% and 95% the value of the invoice.

For example, if your business has unpaid invoices that are usually paid within 60 days, but you need cash now and can’t patiently wait that long to get paid, you can sell those unpaid invoices through an invoice factoring company. The company will then be responsible for collecting payment from your clients when the invoice is due before sending you the remaining amount of the invoice, minus its factoring fee, which is partly determined by how long it takes your customer to pay.

Pros of Invoice Factoring

  • Fast cash for your business.
  • Ideal for businesses looking to get funding upfront.
  • Fast approval time of just a few hours than traditional funding options.
  • It’s easy to qualify for invoice financing without minimum credit scores.

Cons of Invoice Factoring

  • Early repayment charges can be high.
  • Costly when compared with other options.
  • Not in charge of the collection of your invoices.

6. Personal Loans

It can be very difficult to secure a business loan especially when the business is new and you don’t have much revenue. Fortunately, startups can consider getting a personal loan that can be used for business purposes. Meanwhile, eligibility for these loans is solely based on your personal by your personal creditworthiness as well as household income.

Pros of Personal Loans

  • Best for startups and new businesses with strong personal credit.
  • Fast approval time.

Cons of Personal Loans

  • Some lenders might restrict personal loans from being used for business purposes.
  • Can only access smaller loans.
  • Damages a borrower’s credit score.

7. Merchant Cash Advances

Just like a term loan, a merchant cash advance (MCA) gives you a lump sum of cash upfront that you can use to finance your business. This type of loan is given based on the volume of its monthly credit card transactions. You, however, repay the loan with an agreed-upon percentage of your future credit and debit card sales daily, or by fixed daily or weekly bank withdrawals.

Pros of Merchant Cash Advances

  • MCAs are one of the quickest funding options on the market.
  • Approval is faster than an online loan.
  • suitable for businesses with low credit and short trading histories.
  • No fixed loan repayment term.

Cons of Merchant Cash Advances

  • MCAs carry very high-interest rates.
  • Frequent repayments can create cash flow problems.

Now that you have all the information you need about the various types of small business loans as well as their pros and cons, you can now make the most informed decisions.

What is Due Diligence and Why Does It Matter for Your Small Business?

If your business is planning a merger or acquisition in the near future, then you might be worried about how your company is going to adjust. It can be a lot for a small company to handle without any expertise, which is why you should think deeply and carefully before agreeing to a merger or acquisition. Part of this process can involve due diligence, which can help you to notice any problems before a deal goes through. 

Here are some reasons why you might want to consider due diligence before making any major changes to your small business.

It benefits both the buyer and the seller 

While it might appear that due diligence weighs heavily on one party or another, the truth is that it can help you recognize problems and come to a better deal for your business. Due diligence takes a look at a number of factors, including your company’s past and if it is likely to project positively into the future. It allows each party to gather the appropriate information they need in order to make the best decision when working out a deal.

Several types of data are included

Taking a look at a business’s processes aren’t the only aspects of a company that due diligence looks at. Security measures, customer happiness, and environmental considerations are usually all covered in a due diligence report. This can include whether or not you have made the effort to store your files in secure places like a virtual data room or if you have any outstanding legal concerns that should be addressed.

It determine compatibility with workflow 

This can be especially important if you are looking into how your team will work with new coworkers and processes. The business you are merging or acquiring might have a very different way of completing orders or keeping track of tasks. Due diligence can help you determine what will need to be changed before you combine businesses and how you can best go about making the transition simple and easy for everyone involved.

It tracks business sustainability

If you are unsure about how well your company will do with these new changes, then due diligence can help you to analyze whether or not you are taking appropriate measures in order to make a merger or acquisition a success. After looking over cash flow management and how your business has performed over the years, you can then prepare your workforce and your systems in order to handle additional work. This can be a great precaution to take when you are concerned about the long-term viability of your business deal.

In conclusion

It’s always a good idea to look deeply into the business you are thinking about acquiring or merging with. Due diligence can help you to narrow down any issues you might be dealing with upfront, and can save you from entering a deal that can end up harming your company in the long run.

How to get a loan without visiting a store?

Do you need money for a mortgage, buying a car or even paying your medical bills? Well, you are not the only one. There are millions of people who are running short of money and are in a high need for fast loans. Many of us can’t afford such things as buying property or a car but we still need to. So here are different ways or places from which you can get borrow money from with no store visit.

Credit Unions

One of the best alternatives to national banks is credit unions. These institutions are lending money to local business or small scale business. The interest rates of banks are quite high, on the other hand, credit unions offer a lower rate of interest which is a plus point. There are some degrees of flexibility when you borrow from credit unions.

Online Money Lenders

Now with the advancement of technology, you don’t have to visit a store to get a loan. You can even request for a loan just by sitting at your home with just one click. Everything is under your fingertips. These are fast online money lenders which gives you the loan the very next day. All you have to do is send them the required information and wait for the approval. It is also a better alternative to national banks as even if you have poor credit, you can borrow money. But be aware as some online lenders might charge insane rate of interest.

Cash Advances

Now suppose you need hard cash to pay your medical bills, but you don’t have that much of liquid money with you. So what are you going to do? Thanks to credit cards! Having a credit card has several benefits, you can easily go to the ATM and request for a cash advance and you will get access to hard cash within a few seconds. The only con for credit cards is the interest rate gets quite higher than the purchase rate.

Peer to Peer Loans

One of the online lenders that have got a lot of popularity these days is the peer to peer lending. You have to apply for a loan and pay interest and the balance back to the lender. The major reason to go for peer to peer loans is they charge a very reasonable rate of interest. So borrowers from different wage group find this quite attractive. Within 3 to 5 years you have to pay back the amount. So if you are looking for a loan that you can pay off quickly, go for this.

Private Businesses

Do you want to buy a car but don’t want to take a bank loan as the bank processes are too long? Well, these days businesses that sell expensive items can give you a loan too. Take for example a car company; it will give you an instant loan to buy the car from its company to compete in the market. Most large scale retailers like TV, computer, furniture offers instant loan to buy the product. Sometimes these lenders also offer no interest rate deals to stay in this competitive market.

Why You Might Need an EMV Chip Reader for Your Small Business in the Near Future

You might have noticed that many businesses no longer have a simple type of payment terminal. As technology advances and security becomes more and more important for the happiness of your customers, it can be essential for you to consider other ways to perform transactions. One of the newer features that a virtual terminal is now equipped with is the ability to read an EMV chip.

Here are some reasons why you might want to consider upgrading your terminals to read EMV chips.

A greater sense of security for customers

EMV chip cards are inherently safer than traditional cards that are swiped. Not only do they have a more complex method of encryption that helps to avoid any hacking, but it is also more difficult to obtain information from this technology. This can help your customers to feel more secure knowing your business has made keeping their information safe a priority. As your competition starts utilizing terminals that employ chip cards, you might also need to consider this as a way to keep clients from heading to another store.

You might be penalized for not having one

While this isn’t necessarily the case for small businesses currently, in the future, you might start to see merchant account providers cracking down on businesses who do not offer an EMV reader. It’s not required by law to have this type of terminal yet, but some companies might start requiring that small businesses register for an EMV chip certification before they will issue new terminals. While this might seem like extra work, it could be a problem if you haven’t made the switch within a few years as swiping starts to phase out.

You might be leaving your business liable

As EMV chip machines become more common, it’s possible that not having one could put your business in a dangerous position. You might be liable for fraudulent charges because you have not upgraded to a better form of technology for your business. If a stolen or fake credit card is run on your machine and you don’t have the correct terminal to identify that it isn’t real, then you might be the one facing the consequences. As credit card fraud cases continue to increase, small business might be the ones suffering the most from not having a greater method of security.

Failure to comply can cost you money

If you already have a chip reader and you choose to swipe a card instead, you might have to pay a penalty. Because transactions are so much safer with an EMV chip reader, merchant service providers are requiring that many businesses look to switch or they will have to pay fines. Overall, it can be simpler for you to switch over and start using a chip reader instead of having to pay penalty costs down the line for swiping a card instead. 

In conclusion

As payment methods grow and change, it’s up to small businesses to adapt in order to meet the needs of clients and payment providers. With an EMV chip reader, you are preparing your company for the future while adding another layer of security.

How to Increase Your Productivity through Contract Management Software

Many companies look to increase their productivity by using a variety of applications. However, knowing which type of software to use can take time and consideration when you want to choose the right one for your business. Contract management software can be extremely helpful when you want to keep your documents in one place and make them available for both employees and customers to look over.

Here are some ways you can increase your business’s productivity through contract lifecycle management.

Use it to improve efficiency

One of the main problems that comes with working with contracts is how slow the process can be. Writing up contracts can require several drafts, and it can be difficult to keep track of which changes have been made. Instead of sending emails back and forth and hoping that the changes are addressed, you can use contract management software to track edits and keep other parties informed for you.

With an automated system, customers or partners can address changes within their own time, and the simplified process can make it much easier for your business.

Use it to keep track of deadlines

If you have a number of contract negotiations going on at once, it can be confusing to keep track of which contracts need alterations and which can be signed. Contract management software can help you to keep track of which contracts need to be completed when. Late contracts can end up costing your company money while you wait for changes to be made or orders to go through. Poor communication can take time, but it also can create problems within your company if payments are stalled. 

Use it to improve organization 

Not only can contract management software improve your efficiency, but it can also keep you more organized and aware of which processes are working for your company and which need to be revised. You can start to notice where there are issues within the work flow of your contract creation and where you can speed up the processes. This type of software also helps you to eliminated redundancies and problems associated with poor management that can be difficult to see on your own.

Another helpful feature that contract management software has is allowing you to see how many contracts you have available in your repository and how they are delivered to your clients. This can give you a much better idea of whether you need to invest in creating better or more contracts and if the ones you have are adequate.

Having a variety of contracts also means that some are likely to be more important than others. It can be useful to categorize them by how often they are used, which ones need revisions, and if they include any essential deadlines or actions from your or your employees. This added organization can help you to stay on top of any deliverable you have on your end.

In conclusion

Contract lifecycle management can go a long way toward improving your business and making sure that you are getting the most out of your contracts. By using software, you can determine what improvements you should make and how you can be more organized for greater productivity.

How to Successfully Raise Funding For Your CBD Company

CBD is one of the most exciting trends going on right now, so if you’re looking to get funding for your CBD company right now, it’s a great idea. Some businesses are specializing in CBD for pain relief, while others, like Verma Farms, work to formulate CBD oils that help people focus. Regardless of your business angle, you’ll definitely get the funding you need if you play your cards right. However, you’re still going to have to work hard, because there’s going to be lots of competition, and some investors might consider this a passing trend that isn’t worth putting money into. But that said, there are some great strategies you can use to get the funding you need.

To learn more about how to successfully raise funding for your CBD company, read on. 

Create a business plan

Okay. Let’s say you’re selling some of the best CBD oil on the market, and you know lots of people will buy it. If you want investors to take you seriously, you need to demonstrate how you know that–and how you plan to make more money once you’ve started selling products. Once you have a general idea of your vision and know who you’ll be working with, sit down and create a business plan. That’s how you’ll demonstrate that you haven’t just dreamed up a business; you know what to do in a year from now, two years from now, etc., and what to do if you stumble across huge problems.

According to RocketSpace, your business plan should include an executive summary (an overview of your goals and objectives), a company summary (“when, why, and how the startup was built”), a market analysis (information about the consumers and the market), a team overview, and revenue projections (from sales forecasts to liabilities). Once you’ve outlined all this, any potential investor will know that you mean business (pun intended). It’ll take some work together, but it’ll be worth it, considering that Brightfield Group predicted that the market size of cannabis would be $22 billion by 2022.

Decide what kind of funding you want

Knowing what kind of funding you want will probably be one of the most difficult decisions you make as a CBD company. Because once you commit to that, you’ll be spending a lot of time making those connections. Generally, the kinds of funding include friends and family, angel investors, banks loans, and crowdfunding campaigns. Depending on which one you choose, access to lots of money is generally inverse with how much control you get to keep. 

Friends and family are great, but unless you’re a millionaire, you might not make that much. Coupling this with a crowdfunding campaign, however, can be useful. If you’re crowdfunding, what matters most is gathering that crowd, so you’ll need to create some great videos about the products you envision (and how great the CBD benefits are), post content all over social media, and make your website user-friendly (with lots of blog posts). To learn more about crowdfunding strategies, check out these tips from Small Biz Trends.

Another option is applying for a loan from a bank. If you’ve got a good line of credit, and a large amount of money to start with–from a prior company, for example, then this is an option. Otherwise, if you’re a new business and you don’t have much evidence that you’re likely to succeed, bank loans aren’t great. After all, 82 percent of businesses fail thanks to cash flow problems, which means that lending entities are going to be more cautious, especially after the 2008 financial crash. 

Finally, decide if VC or angel investors are right for you. You’ll have less control over your company, but you can get lots of money faster. If you find someone who really agrees with your vision, go for it.

Spread the word

Once you’ve started getting some investors interested, and created a business plan and set up your website, spread the word about your company. Get active on social media–after all, more than two-thirds of Americans use Facebook–and make connections at industry events. Build up the hype so much that you can work with influencers, which will immediately give your company more cred and get consumers interested in your products. It only takes one major influencer saying your blend of CBD for pain relief worked wonders for them to make your business super successful. Blog as much as you can, too, and send out email newsletters.

These are some of the best ways to raise funding for your new CBD company. Once you’ve taken these steps, you can get the funding you need, and be on your way to running a successful business. What other strategies do you think would be effective?

How Fast Refunds Can Increase Client Trust for Your Business

Developing client trust isn’t always the easiest part of running a business, but it is one of the most important parts of it. When clients look to companies for successful partnerships, they tend to consider those who address their needs as more trustworthy than others. One thing that can erode the trust of your loyal clients is not being able to provide quick, painless refunds.

Here’s why you should consider the speed of your refunds for the success of your business. 

They keep customers from returning to the store

A client might not mind coming back once after their initial purchase, but if they end up returning again and again over the course of your interaction, then it’s possible you might lose their business. No one likes revisiting a store to return items, and there are simpler ways to provide better service. With rapid credit card refunds, your client simply has to ship your product back to inventory—without having to make a separate trip to drop it off. With the help of tax return accountant customers can see their refunds in their bank account within a day.

They don’t require receipts 

In the past, once a client lost a receipt, it would be almost impossible to make a return since there wouldn’t be a record on file. Now, rapid refunds allow employees to pull up a record of the purchase from any integrated virtual terminal. Not only does this make it simpler for clients, but it also saves time and effort on the part of your employees. With rapid refunds, you can also determine whether you want to issue a full or partial refund depending on the state of the product when it is returned and its value.

They don’t require phone conversations

Getting ahold of unhappy customers used to take time and a customer support team. It could take days or weeks in order to reach clients on the phone and to discuss the possibility of a refund. Phone conversations could also lead to friction between employees and customers—especially if they were unhappy with the product they purchased. Rapid refunds take out the unnecessary interaction between an unsatisfied customer and a frustrated employee by avoiding phone calls altogether. Instead, once a request is made, a refund can be issued immediately.

They offer records of past purchases

Even if clients ask for a refund within a warranty period for a purchase they made with an old card, it is still possible to do. Fast refund systems keep cards on file, so even if a customer has had to replace the credit card the purchase was made on, you can still reference the system in order to issue a refund. With better technology, it is much easier to search for previous purchases and to keep track of when transactions were made and what type of payment method was used. 

Making sure your clients are content is an essential part of your business’s success. With rapid returns, you can meet expectations and ensure that your customers remain satisfied with the relationship they have with your company.