Personal Loan to Pay Tuition

by admin on April 16, 2014

Applying for a personal loan is one way to finance the purchase of big-ticket items, go on vacation, pay tuition, and more. Banks offer loans to help borrowers with their home improvement projects, extensions, and recurrent expenses.

Customers are offered travel loans with different repayment schedules that suits their budget. Borrowers can use the funds as they see fit – for day trips, airfare, hiking and skiing, restaurant meals, and more. There are no limitations on how the money is used, i.e. whether borrowers pay travel expenses or consolidate high-interest debts. Borrowers who have declared bankruptcy or defaulted on a loan are usually turned down. Customers are asked to provide information such as mortgage and rent payments, expenses, income, and more. You must provide information about any savings and money market accounts or other investment assets held.

A wedding loan helps couples to meet expenses such as jewelry, wedding programs, calligraphy, and invitations. Many couples apply for wedding loans to pay for transportation, catering, fees, etc. Many borrowers also use personal loans (http://www.canadabanks.net/default.aspx?article=Personal+Loans+as+a+Way+to+Manage+Excessive+Debt) to pay the videographer and photographer fee, order thank you and seating cards, and more. Tips and fees for clergy, rabbi, and priest are also covered. Check with local banks and credit unions to find an affordable loan for your honeymoon and wedding expenses. You can use the funds to meet all kinds of expenses provided that you are a solid credit borrower. It is also a good idea to opt for a loan with a competitive fixed rate. There are alternatives to traditional lenders, including finance companies and peer to peer lending platforms. Couples and singles also apply for adoption loans, and some employers reimburse adoption expenses. Grants are also offered under different programs. There are many ways to fund your adoption-related costs, including refinancing, loans, and adoption grants.

Financial institutions offer loans to customers who intend to finance the purchase of equipment and furnishings, to make investments, and more. The funds can go toward the purchase of big-ticket items such as furniture, household appliances, solar panels, equipment, electronics, and more. Personal loans are secured and unsecured, and the latter usually require a very good or excellent credit because collateral is not required. Unsecured loans usually feature shorter terms of repayment and higher interest rates, but borrowers take less risk. Some financial institutions require that borrowers with poor credit apply together with a cosigner. There are other financial products offered by banks, including recreational equipment and green energy financing. Green energy loans, for instance, help finance the purchase of water heaters, insulation, new windows, and solar cells and panels.

{ Comments on this entry are closed }

Options for Borrowers with Poor Credit

by admin on April 15, 2014

Consumers can choose from different types of loans, including secured and unsecured. Traditional and online banks and finance companies offer unsecured loans. Loans are reserved for creditworthy customers with solid income. There are different types of unsecured loans, including used and new car loans, consumer, and student loans. Banks and car dealerships offer auto financing to borrowers who plan to buy a vehicle. Financial institutions that offer auto loans request information such as vehicle age, model, make, etc. Student loans are also offered by banks, government agencies, and other entities. Loans under different government programs come in different varieties, including maintenance and tuition fee loans. A common feature of these loans is the fact that they are not secured against some valuable asset such as: ring

  • jewelry,
  • vehicle tools of trade, or
  • anything else of value.

The most important factor for banks is whether borrowers are able to meet their payments. Borrowers with a history of bankruptcies and defaults are risky candidates.

Borrowers fill in information such as their employer and income when applying for a bad credit loan. In addition to high interest rates, some lenders use unfair practices. Secured loans feature better terms, but they are offered to customers who pledge some valuable item as a guarantee of repayment. When applying for a secured loan, banks require proof of residence and income. Some financial institutions offer unsecured loans to borrowers with poor credit but require someone responsible for repayment in case of default. Borrowers are usually asked to present documents such as recent salary slips, photo ID or passport, account statements, and others.

The list includes documents such as

  • bank statements,
  • paychecks,
  • loan balances, and others.

The requirements are different for self-employed individuals and unemployed workers. People who apply for unsecured business loans are asked to present documents such as financial estimates and projections, bank statements, business leases and certificates, and others.

{ Comments on this entry are closed }

Small Business Start up Ideas

April 14, 2014

Individual lenders and peer-to-peer platforms offer plenty of financing options. Some microlenders are an excellent choice because they report payments to the bureaus and offer loans of up to $35,000. They advertise quick approval, no hidden fees or teaser rates, and competitive fixed rates. There are many benefits for borrowers, and one is that they […]

Read the full article →

Fast Access to Cash With Line of Credit

April 7, 2014

There are different types of credit lines, offered to individual borrowers. Some types are unsecured while others require a form of collateral.  The main benefit for borrowers is that they can draw on the line multiple times and whenever they need cash. While there are many benefits, banks have certain lending criteria and requirements. If […]

Read the full article →

University Loans and Options for Borrowers

April 5, 2014

Students can choose from private and state universities, and the latter are usually less expensive. There are different options to consider including financial assistance under government programs and loans from brick-and-mortar banks and non-bank lenders. The best choice is a loan with a fixed interest rate and flexible repayment scheme. Loans under government programs come […]

Read the full article →

Car Loans Lending Criteria in Canada

April 2, 2014

Bank customers are offered financing for the purchase of motor homes, sports vehicles, cars, campers, and RVs. Secured loans come with a lower interest rate because financial institutions take less risk. Check for credit insurance, prepayment penalties, and other hidden fees and charges. An unsecured auto loan is another option whereby collateral is not required. […]

Read the full article →

Airmiles, Rewards, and Other Cards

March 30, 2014

Different stores offer brand cards to attract new customers and increase their sales volume. There are benefits and perks for holders, including savings on big-ticket items and one-time purchases. Walmart credit card usually offer a higher interest rate but there are some benefits to using them. Their stores feature cards with cash back, discounts, and other […]

Read the full article →

Financial Assistance for University

March 18, 2014

Types of Financial Aid Government loans usually come with lower interest rates and flexible repayment schedules. Federal loans are offered to students who are enrolled half-time or full-time and are need-based. Eligible non-citizens and citizens can apply for federal student aid. The main benefit of subsidized loans is that they are interest-free until graduation. The […]

Read the full article →

Short-term and Long-term Loans for New and Existing Businesses

March 10, 2014

Businesses are offered different types of financing, including small, start-up, and franchise loans. The type to choose depends on factors such as sector and industry, amount required, interest rate, and others. Business Loans and Requirements There are line of credit loans, angel investment, SBA loans, and many others. Many businesses apply for government financing and […]

Read the full article →

Guide to Unsecured Loans in Canada

March 6, 2014

Borrowers can choose from conventional and high interest rate loans with shorter repayment terms. Financial institutions offer unsecured loans with fixed and adjustable interest rates. The lending criteria vary from one institution to another, but banks are usually interested in your income and credit history. You may need a cosigner if you have a low […]

Read the full article →