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What are the Benefits of Business Loans?

What are the Benefits of Business Loans?

Business loans help companies fund new projects and opportunities for growth. They offer many benefits that personal financing and investors cannot provide. Before taking out one, take careful consideration of your business needs, strategies and goals. Make sure that you can repay the loan on time to build your business credit profile.

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How to Calculate the Finance Charges on a Car Loan

How to Calculate the Finance Charges on a Car Loan

Are you taking out a car loan? Aside from the principal amount and the interest, there are many other expenses that you have to factor in. Identifying these fees will help you estimate the total cost of your loan and how much you can afford to spend. There is no single formula for calculating the finance charges of a car loan, but the computation usually includes the principal, interest rate, loan term and frequency of repayment.

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Why Tracking Your Expenses Is Important

Why Tracking Your Expenses Is Important

Regularly tracking your expenses is an important part of successful financial management. It helps you become more aware and conscious of your spending, which is helpful when you're trying to save money or planning to take out a loan.

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The Cheapest Ways to Get an Auto Loan

The Cheapest Ways to Get an Auto Loan

Finding the best car loan deal is not easy. However, several ways can help you negotiate for the lowest interest rate and best terms. These include having a good credit score, seeking pre-approvals from various lenders, getting 0% financing, and using an auto loan calculator to determine how much you can afford.

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What Is the Best Car Loan Term?

What Is the Best Car Loan Term?

The best car loan term depends on your needs and financial situation. While a long repayment period lowers your monthly payments and makes financing seems affordable, it puts you at a greater risk of negative equity. A short-term car loan, on the other hand, can help you settle your debt fast but requires larger monthly payments that may be difficult to sustain.

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What Credit Score Is Required to Buy a New Car?

What Credit Score Is Required to Buy a New Car?

A good credit score is one of the most important requirements when you buy a car through auto financing. Aside from increasing your chances of approval, it helps you get lower interest rates and favourable loan terms. Before taking out a car loan, work on improving your credit score first. If you've already taken out a car loan with high-interest, refinance it when your credit score improves.

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How Much Money Do You Need to Retire?

How Much Money Do You Need to Retire?

Saving for retirement should begin in your early 20s when you still have plenty of time to grow your wealth. If you got a late start, however, it's never too late to start. Either you can save aggressively to compensate for the lost time, or you can continue to earn money in your senior years.

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What Is Cash Flow Lending and How Does it Help Businesses?

What Is Cash Flow Lending and How Does it Help Businesses?

Businesses that are temporarily underfunded and in need of money to meet working capital needs can get financing and use their future cash flows as collateral. While it is easier to get approved for than standard business loans, borrowers can increase their chance of approval if they have good credit scores, bank statements and sales revenues that all reflect a strong financial capacity to repay the loan.

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How to Create a Business Plan: A Template for Startups

How to Create a Business Plan: A Template for Startups

If you’re a startup founder or a small business owner who’s looking to seek financing from lenders or attract investors, it is essential to create your very own business plan. Not only will it help you map out your business direction, but it will also help you get the necessary funding.

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How to Get a Car Loan if You Already Have a Personal Loan

How to Get a Car Loan if You Already Have a Personal Loan

Yes, you can secure a car loan even when you have a personal loan to pay off. Lenders are likely to approve your application if you have a good credit score and a good income that gives you the financial capacity to repay the loan. Your chances of unconditional approval will also improve if you pledge your vehicle as collateral, provide a substantial down payment, and get pre-approved for vehicle financing.

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What is the Best Way to Shop for a Car Loan?

What is the Best Way to Shop for a Car Loan?

It’s smart to get a car loan pre-approval before accepting any offers because it helps you get an estimate of how much amount you can borrow and afford to repay. Knowing your borrowing power helps you efficiently compare interest rates and loan terms from multiple lenders and puts in a favourable position on the negotiating table.

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How to Get a Student Car Loan

How to Get a Student Car Loan

College students can get approved for a student car loan in Australia as long as they are of legal age and are a natural-born or a permanent resident of the country. However, because they have an insufficient credit profile and may not have a stable source of income, they typically need to have a cosigner and a large down payment to secure the loan.

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Business Loan Requirements You Need to Meet

Business Loan Requirements You Need to Meet

Whether you’re taking out a business loan from a bank or an online lender, you can improve your chances of approval if you know what what you need to prepare. Check out these business loan requirements and eligibility criteria that most lenders set.

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Money Management: Good Debt Vs Bad Debt

Money Management: Good Debt Vs Bad Debt

Taking out a debt can be a good or bad financial decision depending on the circumstances under which it is acquired. Good debt helps you earn more money and achieve your financial goals. Bad debt, meanwhile, puts you under a tremendous financial burden and worsens your overall economic situation.

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Funding Your Business: Loan or Equity Financing?

Funding Your Business: Loan or Equity Financing?

Taking out a business loan is more advantageous than getting an equity financing. It gives you faster access to funds and supports your business growth without sharing your profits and decision-making power to investors. It also helps build your credit score. Get to know more how a business loan differs from an equity funding in this article.

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Tips to Improve Your Personal and Business Financial Management

Tips to Improve Your Personal and Business Financial Management

Good financial management is essential to achieving financial stability and building wealth. However, not everyone handles money efficiently. If you’re one of those who always struggle to make ends meet or get overwhelmed by business finances, it's time to cultivate good money habits and use technology and automation to make financial management easier.

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What Are Low Doc Loans and How Can You Get One?

What Are Low Doc Loans and How Can You Get One?

Low documentation loans are ideal for business owners and independent contractors who often find it hard to prove their true income. While minimal paperwork is required, lenders still conduct an income verification process before deciding to approve or reject a borrower’s application. Here’s what you need to know about low doc loans.

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How to Protect Your Business from Cyber Threats and Online Scams

How to Protect Your Business from Cyber Threats and Online Scams

Cyber threats and scams target all companies, but small businesses are the most vulnerable because of the lack of cybersecurity tools and awareness. Cyber attacks and scams can result in financial loss and legal action. They also destroy the business reputation and consumer trust. Learn how to prevent cybercriminals from successfully exploiting your business in this article.

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Cyber Scams 2019 - What You Need To Be Aware Of

Cyber Scams 2019 - What You Need To Be Aware Of

Australian businesses lost over $7.2 million in cyber scams back in 2018, according to the Australian Competition and Consumer Commission (ACCC). Knowing what these scams are and how to report them plays a crucial role in protecting yourself and your business.

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What Make Business Loans Effective

What Make Business Loans Effective

Business loans provide cost-effective financing if you need funds to keep your company stay afloat during tough times or pursue a new business opportunity, including expansion and growth. When taking out a business loan, always see to it that the potential return on investment of the new project outweighs the cost of the loan.

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How to Get a Business Loan Without a Security or Guarantor

How to Get a Business Loan Without a Security or Guarantor

Collateral and personal or third-person guarantee are usually required to get approved for a business loan. However, not all businesses have valuable assets to pledge and guarantors to take responsibility on behalf of the borrower in case of loan default. If your business is one of those that do not have collateral or guarantee, here are the alternative business financing that you can get.

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