Tag Archives: money
Car title loans: An Opportunity for Getting Fast Cash
It is not difficult to obtain car title loans as the financial market is highly competitive in the recent years. It is important to secure an option in which terms and conditions for car title loans are comparatively favorable. People who are in financial crisis can search it on the internet. There are many web sites on the internet which provide information about car title loans. The prospective borrower must be patient. Comparative study of the competitive rates may be helpful.
Lenders who arrange for car title loans offer the debtors two definite options. A lender can keep the vehicle with him after the loan is approved and paid. He wants the money to be repaid by the borrower in due time. He will hand over the car to the respective borrower after he receives his money along with interest.
The other option is no less undesirable. The borrower can keep the car and use it but the lender retains a set of keys of the car. The borrower may fail to pay back the money and default or stop repayment. Then the lender will take possession of the car and sell the car to realize his money.
Lenders do not take minimum risk in either of the cases. For each of the two options stated above the borrowers must own property of worth (a home, a piece of land etc) in their name because this tangible property is to be employed as collateral. Car title loans are for the people who are really in need of immediate money. They must be confident that they are capable of repaying the loan without fail.
A person is entitled for car title loans provided
a) he/she produces documents in support of his/her address proof,
b) he/she is 21 and citizen of the United Kingdom,
c) he/she works in any legally approved organization at least for the last 12 months and earns an amount of $1000 in a month regularly and
d) he/she has valid bank account.
The lenders decide what amount of money they will advance towards car title loans. The debtors must keep in mind that repayment period for such loan is very short. It is just a period between 14 and 31 days. Interest for car title loans is charged at higher rate.
Merchant Cash Advance to the Rescue
Merchant Cash Advance to the Rescue Times are tough for small business. Businesses have been closing their doors at an alarming rate. What makes this a particularly rough time for businesses is that they are getting it from both sides;
- ,li>Customers arent purchasing their goods or services like they used to.
- Banks arent lending them the working capital to get past these tough times.
This is what is known as a “double whammy”. This current financial crisis is causing a lot of sleepless nights for many small business owners. I have come into contact with people who are being forced to close their business that they have owned for over 30 years. I cant express the amount of pain that these people are going through.
For many, a business loan could have saved their business. But the banks are unwilling to loan money to any business that may show any sign of financial trouble. What is maddening is that these large banks were given our tax money to do just that; loan us money.
Fortunately, there is a business loan alternative called a merchant cash advance (or merchant loans). They arent perfect; but they come awfully close.
The advantages of a merchant cash advance
There are many advantages to a merchant cash advance. One of the most important is that they will give you money even if youve been turned down by the bank. Other advantages include;
- Good credit is not a requirement
- There is a 95% approval rate
- Approval takes about 24 hours
- You business is typically funded within 7 days
- No collateral is necessary
- Flexible payback structure
- Quick, easy application process
- You can get funded up to $500K
As you can see, there are many benefits to merchant loans. The only advantage bank loans have is that they cost less. But that doesnt do anyone any good if they cant get a loan.
One of the unique aspects of a merchant cash advance is the flexible pay back structure. Heres how it works;
In order to receive a cash advance; you need to enable your processor so that a percentage of your daily credit card sales are automatically used to pay back the merchant loan. Because they only use a percentage of your credit card sales; the payback is dependent on the amount of business you do for that day. That means you pay back less on slow days and more on busy days. They do not touch your cash sales at all. This takes a lot of stress off your business and creates an environment that is easy to pay back your advance.
Merchant cash advance providers is a growing industry. They have advanced hundreds of millions of dollars to thousands of small business.
It is always in your best interest to stay informed and to keep your options open. I have provided a link below so you can learn more about how a merchant cash advance can help your business.