Get a small business loan If you want to retain complete control of your business, but don’t have enough funds to start, consider a small business loan. When The Big Banks Can't Help, We Can! Incredibly Fast Business Capital, Equipment Financing And Payment Processing. Quick Funding up to $2M! One stop. Best offers. Free Application. No Obligation. Customer Financing To Drive Your Sales Many Providers = More Approvals And Profits For You. Payment Processing Improved Standard processing plus our new Cash Discount Processing (no fees). Equipment Financing for the tools you need. One stop. Best offers. Free Application. No Obligation.
Need a small loan? Make sure you're not adding to your financial woes(BPT) - April is Financial Literacy Month, and it’s an opportunity for people to take a closer look at their finances and be smart about their money. These days, it's difficult to save money — whether it's an appliance breakdown, car repair or other unexpected bill, sometimes you just need to borrow a little cash. When you need to find a little financial help, it may seem like plenty of options are out there for borrowing money. But the problem is, borrowing even a little can cost you. A lot. Even if you need just a small loan — but you don’t have much of a credit history (or none at all) — you may find yourself owing a lot more than you can afford, causing bigger problems down the road. If you don’t have a solid credit history, you may find yourself in deeper financial trouble just from borrowing as little as $500. “Unfortunately, just when you really need a loan, you can end up owing a lot more than you can afford,” said Matt Jenkins, chief operations officer, Oportun. Oportun’s customers, the majority of whom live in low- and moderate-income communities, are hardworking individuals who have limited savings. Approximately half of Oportun’s new loan customers did not have a FICO credit score when they first came to Oportun. “Understanding how much you’re expected to repay for any loan, and when, is crucial, so you don’t end up in a deeper financial hole.” This is especially true with unsecured loans such as payday loans or online-only installment loans, as well as short-term secured loans such as auto title loans. While you may have needed to borrow just a small amount, after adding interest and fees, you could ultimately end up paying back many times more than the original amount you borrowed. Unsecured versus secured personal loans Personal loans fall into two categories: secured or unsecured. Secured loans require you to offer up an asset as collateral, while unsecured loans do not. Secured loans can give you access to larger loan amounts, especially if you don’t have as much credit history to qualify for an unsecured loan. However, being unable to pay back your secured loan could result in losing access to the property you put up as collateral — such as your vehicle — which creates even more challenges, especially if you need your vehicle to get to work. Unsecured loans place a greater risk on the lender, since the borrower does not provide collateral. To account for that risk, lenders may offer unsecured personal loans in smaller amounts, charge higher annual percentage rates (APRs) and/or require the borrower to have a much higher credit score to qualify. These requirements can create barriers to accessing or building credit for anyone who is financially struggling. How much borrowing can cost you To find out how much these products can really set you back, a 2022 analysis by the Financial Health Network, “The True Cost of a Loan,” compares six financial products — payday loans, online-only payday loans, rent-to-own, installment loans, online-only installment loans and single-pay auto title loans — to unsecured installment loans from Oportun to estimate the total cost of these products to typical borrowers. The study showed that even short-term, small-amount loans can end up being very expensive to borrowers in the long term, especially when compared to loans from Oportun. Across three loan amounts, alternative products could cost eight times more on average than an Oportun loan of an equal amount:
Overall, Oportun loans can be significantly less costly than alternative products, as they often have lower rates and more affordable terms than many other choices on the market. To learn more about your options to borrow money when you need it, as well as financial resources, information and tips to help you build a better credit history, visit Oportun.com. Additional Option: Agent ID #102545187
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Agent ID# 102545187Hello, I see many advertisments on many social platforms. What I can agree on my network is on fire. We are helping people more than you can realize. My business is also located in the California area. So I get the love back from my community. I am a home based business owner since Sept 19th, 1999. I just wanted to introduce myself because I am in business capital and we love to help small businesses like yours get working capital for growth, or expansion, or even to get through a tight pinch! So I just wanted to introduce myself, Leonard Bigdoggpinc Lindsey in case you are ever in the need for business working capital. When the banks can't help we usually can. :) If you ever want to talk, I'm happy to talk by phone or text +1 (310) 462-7030 by email if you prefer? [email protected] You can also learn more about my company and services. Archives
April 2024
The Rapid Finance Guide to Finding the Right Loan for Your Business Needs
Small business financing can serve many purposes, including: Startup capital Working capital to run operations Cover cash flow deficiencies Cash to cater for emergencies such as Covid-19 Money to buy another business Funding to expand your business Refinancing debt Get your funding Learn more Categories |