New Comparison Tool For Small Business Funding By A Nonprofit Group

July 20th, 2016 by hesty No comments »

There are many tools that can help small businesses get funds to grow and expand. However, most of these tools are not complete.  The nonprofit Opportunity Finance Network has recently launched its own tool – Venturize.


What Is Venturize?

Since September 2015, the Opportunity Finance Network based in Philadelphia, a national network of Community Development Financial Institutions (CDFIs), held focus groups in 8 locations throughout the country.


As Miti Sathe, a senior vice president at the Opportunity Finance Network, notes people need information, which is quickly available and is available from a reliable source. The main benefit of Venturize has to do with Annual Percentage Rate (APR) calculators that are designed to help small business owners determine the effective interest rate of any loan. This refers also to a merchant cash advance.


Merchants, especially high risk ones, know how important it is to find a trustworthy lender to apply for business funding. Consider turning to First American Merchant, the best business funder in the US that boasts an A+ rating with the BBB.


Best Business Funding for Your Company

Having more options means more people are able to access to credit. On the other hand, it also means there is increased confusion in the field. With true professionals, small business owners can get the best for their specific business needs without major difficulties.


With First American Merchant you can get the best Cash Advance and ACH Business Funding for your company. FAM is a full-service platform that offers the lowest rates in the industry and provides exceptional chargeback and fraud prevention protection programs for businesses of all types.


If you choose to use Venturize, it will not help you decide on one specific loan. It will offer useful guidelines on the types of loans in general. These guidelines also include the associated costs that are available to business owners with the given credit score and the given business history. Venturize is developed to help you be smarter about what you need to know to safeguard yourself before applying for this or that type of loan or cash advance.


Sathe notes the Opportunity Finance Network focuses on 2 important groups, women entrepreneurs and small business owners of color, that have historically faced barriers with regard to business funding. Sathe believes greater transparency will result in increased fairness about who should get financing and at what cost.


Personal Loans Are a Great Solution For Money Woes

December 14th, 2015 by hesty No comments »

If you are suffering from money woes, then it may be time for you to look into personal loans to help you out. These loans are great for those that need extra cash; yet do not want to be tied into anything complicated. A loan like this is great for a student, or someone with a lower income as you can choose to take out a very small sum of money if you want. Many lenders today offer very competitive packages as a form of incentive to sign with them for the loan you want. These incentives do actually help you in the long run, and they can actually save you money as well.

Get Your Paperwork In Order

The first thing you are going to want to do when you are going to apply for personal loans is to get all of your information together. This will help you in the whole application process, and it will also make it easier for the lender to come to an answer on whether or not they are going to grant you the loan. Any debts or bills should be accounted for, and all of you personal information such as banking and employment history needs to be handy as well. This makes the whole process run smoothly, and you will find that it will make the lender far less weary of you if you are prepared. Knowing what you want is always a good thing, but having everything in order to get what you want speaks volumes. Take the time to get it right, and save time in the future while shopping for a loan.

Online Shopping Is Quick

If you are going to shop for personal loans, the best way to reach as many lenders as you can in a very short amount of time is to shop over the Internet. This powerful medium for shopping allows you the chance to shop comparatively, and to pick out the best bets for you and what you need. The fewer lenders you have to weed through, the more time you are actually applying. Be sure to use appropriate keywords in your search on the web, as this will also help minimize the amount of sifting you have to do as well. By using keyword specific to what you are actually looking for you could save yourself a great deal of time during your shopping for the right loan.

Paying Back On Time

One of the most important things to remember about personal loans is that paying back the loan on time is imperative. You need to be sure at all cost that you make the payment on time and as specified by the lender. This will eliminate any troubles later on down the road with your credit, as the major credit agencies are in fact monitoring what you are doing with that loan that you took out. Paying back on time is also a great way to ensure that you are clear to peruse another loan in the future.

Are You Shopping Around for a Personal Loan?

December 4th, 2015 by hesty No comments »

Everybody has experienced, at one time or another, the need for a quick infusion of cash. During these recessionary times it may have been difficult to set money aside for emergencies. Rainy day funds may have been depleted. And some folks are reluctant to approach friends or family for the needed cash.

The car may break down. A visit to the doctor may result in an expensive medication needed immediately. A utility bill may have been neglected too long. These are all legitimate reasons to seek out a personal loan lender. However, the ultimate use of the cash is entirely up to the borrower.

What Is a Personal Loan?

You will hear Personal Loans referred to as Cash Advance Loans, Pay Day Loans, or Short-Term Loans. It usually involves a sum of cash ranging from $100 to $1500. The most usually requested and received amount is around $500.

Such a loan usually comes due within 15 to 90 days after the release of the funds. The rates for such a loan can range from $15 to $35 per $100 borrowed, depending on state regulations and your financial circumstances. No, they are not cheap. But, they are quick and easy.

Where Do I Find a Personal Loan Lender?

You may find a company in your area that offers this kind of loan. They easiest way to contract one is by going online. Use your favorite browser an punch it to search for personal loans, payday loans, cash advance loans.

Whatever term you use, you will have access to plenty of online lenders willing to help you out with your cash flow problems. You may also want to check the Better Business Bureau and its directories. There you will find a comprehensive list of lenders along with their ratings based on customer feedback.

Is a Personal Loan Easy to Get?

They require no credit check, nor do they require collateral. If you apply online, the process is pretty simple. You will be asked to offer credentials such as: Bona fide photo ID (driving license, military ID, state ID, etc.). Social security number. Direct deposit bank account information. Proof of residency. Proof of employment.

Many online lenders can check your credentials using online resources. If they cannot, you will be asked to fax, or scan, documentation to the lender. Even with that added inconvenience, you can have your requested funds in your bank account usually within 24 hours.

Personal Loans Can Work for You

Since the market is pretty crowded with lenders who are willing to make short-term personal loans, it would behoove you to shop around. Careful shopping will help you find personal loan lenders with acceptable interest rates, affordable fees, and comfortable repayment terms. The more you shop, they more money you may save.

Before you go shopping for a loan, have a good idea of how much you actually need to sign for. Make a budget if necessary. Do not go after more than you need. Once you do land your personal loan, be sure to stick to your budget. Make sure you meet your obligation in the agreed terms. Do not ask for extensions, if you do you will be dragging yourself into deep debt. Successfully completed, a personal loan can help boost your credit scores.