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WHAT RULES TO FOLLOW WHILE GETTING A LOAN?

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HOW YOU CAN USE A BUSINESS LOAN IN 2021?

Most of the businesses had deceived down due to Corona virus breakdown from covering payroll to funding replenishment plans and other endless operations. The one solution to grapple with all of your business funding options, the business loan is a simple way out. Here in this article, we have listed few aspects for which you can " Apply For Business Loan " and use it in different ways in 2021. Recovery from pandemic loss: While some of the small businesses have been hit harder with the negative effects of COVID-19 and it’s not so easy to think about economic recovery. To put some recovery plan into action, 2021 is an ideal time to secure a business loan giving you the ability to lay the groundwork for how you will operate your business post COVID-19. Till the time, your economic conditions improve; you’ll want to have some additional funds to accelerate your business’s recovery. Technological updates: If your business has been slow down due to outdated equipment and stucke

HOW TO BOUNCE BACK FROM A FINANCIAL LOSS?

Have you ever suffered a financial loss which has caused you so much of grief? The financial loss has started affecting you physically and mentally. A lot of people near and far suffering a money loss may start experiencing either or all of these such as unstable relationships, feeling powerless, lack of resources to live the lifestyle, health issues, difficulty in paying monthly bills etc. Therefore, having a financial setback shouldn’t make you feel depressed when you find a ways to bounce back. In this article, we will suggest you a lot of things that you can follow to avoid the feeling of sinking and can bounce back from a financial pitfall. Let’s see some of the measures to rebuild your finances after a money shortfall: Reduce your expenses till to get on track: If you are determined to bring your finances on track, you should first fill the gap you created. You can adopt any of the two ways- you can either increase your income sources or can reduce your expenditure. Well, add on

HOW SMARTLY YOU CAN MANAGE YOUR LOANS?

Nowadays, life beyond means has become very common and getting credit to live an amazing life has become more convenient and easy. Most of the people want to live their life that their income don’t allow and overlook the dangers lurking behind their luxuries which results in taking multiple loans that can easily lead them into tricky debt situations. Well, now we will discuss some of the smart ways to manage the multiple loans at a time. Follow ‘avalanche’ method: Layout the list of your debts according to their rates of interest. Make a plan to repay the biggest Emi of the loan whose interest rate is highest. Then after, continue paying regular installments on other loans. When the loan with highest rate of interest is paid off, create a plan to repay the next. Increase your EMIs with hike in income: One of the easiest ways to manage your loan burden is to increase your monthly installments every time your income rises up. By increasing your installments, you are enable to cut the m

HOW BUSINESS FUNDING OPTIONS CAN TAKE YOUR BUSINESS TO NEXT LEVEL?

One always needs funds for the survival of any business either its small or bigger. Being a business person, you are always in search of best possible ways to fund your business operations. Your business requirements may vary and can range for purchasing assets and machinery and from paying employees to leasing a shop space or even arranging money for fulfilling the working capital requirements. Therefore, to fulfill your requirements, there are different kinds of " Business Loan " available in market that you need to select which suits your requirement the best. Here, in this article we are explaining some of the business loan options available for the business owners in 2021: Term loans: It is one of the most common funding options available in the market that comes in both secured and unsecured types. The loan amount to be approved is based upon the business as well as personal creditworthiness of the business owner. Generally, the tenure is fixed that ranges up to 5 year

HOW TO CHOOSE BETWEEN SECURED AND UNSECURED LOAN?

You might have heard about secured and unsecured loan offerings on your phone and emails with attractive interest rates from a particular lending institution these days but there are only few of us who understands the fundamental differences between both of them. Therefore, knowing the difference between both the loans is a crucial step towards gaining financial literacy an can help you in tough times when you are facing a financial crunch and need to apply for a loan to escape out of your problems. Secured loans always ask for collateral as a security against the lent money which can be any of the assets that a borrower possess or in some cases it can be fixed deposits and provident funds. In case, if borrower fails to repay the loan money in fixed period, then ownership of collateral is taken by lender to recover their outstanding dues. Some of the relevant examples for secured loan are loans against property, gold loans and home loans whereas unsecured loans do not ask for any secur

HOW SOME FINANCIAL TIPS CAN HELP YOU TO SECURE FUTURE?

  Everybody wants to grow financially in their lives but some of our financial responsibilities and spending habits pull us back from achieving so. Though some financial awareness and money management skills can always lead to financial growth, therefore, to encourage those skills, we will be discussing some financial tips in this article that will change the way you spend your money and can lead to success and financial security in very short time. Layout a financial calendar: It is very normal to remember paying your bills and premium on exact dates in this fast growing era, so to perform well and to avoid any default, you should need to layout a financial calendar. Moreover, you can add reminders on bill dates in your phone’s calendar which will help you to remember all the important payments to be done timely and not to default with any of the payment. Check for interest rates on loans: However, taking out a loan is not a big deal anymore as the loans are easily available these d