Banks Vs NBFCs: From Where to Get a Small Business Loan?

A common dilemma faced by potential borrowers seeking a small business loan is—Where to shop for loans? Should they approach a bank or go with a non-banking financial company (NBFC)? Both are the financial entities which are offering excellent deals to customers with varied borrowing needs. Continue reading “Banks Vs NBFCs: From Where to Get a Small Business Loan?”

Identifying and Using Your Network: Strategies from Freedom Financial Network

In the modern world, networking has become one of the best tools for professional growth. With the right network, one can acquire business information, progress in their career, and get employment opportunities in different organizations such as Freedom Financial Network. Continue reading “Identifying and Using Your Network: Strategies from Freedom Financial Network”

How to decide among investment options?

For secure investments, Public Provident Fund andFixed Deposit are great options. You should choose one based on what you need.  Out of these two investment options, fixed deposits are often a preferred choice for busy salaried professionals who do not fall in the higher taxation brackets. Continue reading “How to decide among investment options?”

Why Are Small Businesses Turning to Quick Financing?

The global financial crisis that began in 2007/2008 quickly spiralled out of control and resulted in credit markets tightening up around the world. That crisis may be in the rear-view mirror, but the ramifications of it linger to this day. The failure of Lehman Brothers and the subprime mortgage crisis that precipitated the worst recession since 1929 has left a bad taste in the mouths of banks, non-bank lenders and the financial industry overall. For starters, credits markets have tightened considerably since 2008. Continue reading “Why Are Small Businesses Turning to Quick Financing?”

15 Sources of Funding For Small Business – A Detailed Analysis

You’ve a killer business plan, a great vision and supportive family members and friends. The next biggest thing that comes into the picture is financing. Financing is required to start a business, scale it up to profitability and even sail through a rough patch. Financing varies depending upon the size and type of your business. Some businesses like online ventures need a small amount of funding while processing businesses require a substantial amount of capital. Small business funding can be an uphill task to attain and sometimes, many small business owners feel like they’ve run out of options. Continue reading “15 Sources of Funding For Small Business – A Detailed Analysis”

Business Funding Routes You Probably Haven’t Considered Yet

Setting up your new business is a rewarding, exciting, if not stressful time of your life. You’re about to launch something that could completely revolutionize your life, and you’re finally able to work for yourself rather than for someone else’s company. Getting started is probably one of the hardest parts of being a business owner. You’ve got to try to work two jobs at once – unless you can take a break from a full-time salary. You’ve got to create a business plan that can withstand intense scrutiny. You’ve got to find ways to attract customers. You need to plug any skill gaps and work out whether you need contractors or in-house employees. Continue reading “Business Funding Routes You Probably Haven’t Considered Yet”

Fickle Finances: Credit Cards vs Personal Loans

For those times in life where some financial bolstering is required, there are a number of concerns that wrestle for our attention. Taking out a loan or moving further into debt can fill us with apprehension.  We want a solution where we can access adequate funds, yet not become swamped with oppressive repayments.   Continue reading “Fickle Finances: Credit Cards vs Personal Loans”

Tips for Buying a Car with Bad Credit

By the time you’re done reading this short post, you’ll see that getting a car loan is not difficult even if you have bad credit. While it’s true that the following can help anyone (no matter what their credit) secure a deal with an interest rate that won’t unduly tax their monthly budget, this is specially-designed for people with low credit scores. There are lenders who specialize in bad credit car loans, and here is what you should do before you approach them. Continue reading “Tips for Buying a Car with Bad Credit”

Use of Calculators to estimate loan amount and tenure

Till few years back, you had to visit branches and offices of financial institutions like banks, NBFCs to get all your loan related questions answered. How much loan will you get, what is the interest rate, what are tenure options, can you reduce your EMIs, etc.? Continue reading “Use of Calculators to estimate loan amount and tenure”

Transferring the personal loan: Understanding 5 factors

You can easily transfer your personal one from one bank to another, but there are important factors to consider before doing so.

Taking a personal loan has many advantages, for both business and personal purposes. The loan is disbursed fairly quickly and the monies can be used for a variety of needs. Traditionally, people have been averse to taking loans for purchases, but lately, it has become somewhat of a trend to borrow personal loans, vehicle loans, house purchase loans, etc. In the face of mounting expenses and rising inflation, one may not have the financial wherewithal to buy expensive items on an outright purchase basis. Continue reading “Transferring the personal loan: Understanding 5 factors”

Why Personal Credit is a Major Factor in the Success of Your Startup

According to the Small Business Administration, if you’re using credit to finance the startup costs of your business then you are not alone. As of 2011, 65 percent of business owners were financing at least some portion of their business on a credit card or through a loan of some kind. Building business credit is crucial to the success of a startup long term, but even the SBA admits that’s a difficult proposition for the short term. Continue reading “Why Personal Credit is a Major Factor in the Success of Your Startup”

5 Ways a New Homeowner Can Save Money

Buying a home means something different to each person. But one thing is the same for just about everyone – it’s going to be expensive. In addition to saving up 5-20% for a down payment, on average homebuyers pay 2-5% of purchase price in closing costs as well.

If you want to realize the American dream of home ownership, you don’t have to be house poor. There are ways you can use your living situation to save money each month and offset the cost of buying. Continue reading “5 Ways a New Homeowner Can Save Money”