Curlew Lake

1 Aug,2023 Layne Potts

Welcome to WordPress. This is your first post. Edit or delete it, then start writing! Welcome to WordPress. This is your first post. Edit or delete it, then start writing!

Welcome to WordPress. This is your first post. Edit or delete it, then start writing! Welcome to WordPress. This is your first post. Edit or delete it, then start writing! Welcome to WordPress. This is your first post. Edit or delete it, then start writing!
Welcome to WordPress. This is your first post. Edit or delete it, then start writing! Welcome to WordPress. This is your first post. Edit or delete it, then start writing! Welcome to WordPress. This is your first post. Edit or delete it, then start writing!

Welcome to WordPress. This is your first post. Edit or delete it, then start writing! Welcome to WordPress. This is your first post. Edit or delete it, then start writing!

Debunking Common Myths About Mortgages: What Every Homebuyer Should Know

30 Jun,2023 Nancy SmithLeave a comment

Breaking into the housing market can be intimidating, especially for first-time homebuyers. With so much mortgage information, it’s easy to get caught up in common myths and misconceptions. But fear not! In this blog post, we’re here to set the record straight and debunk some of those widespread falsehoods. So grab a cup of coffee, sit back, and get ready to learn what every homebuyer should know about mortgages.

A Perfect Credit Score Is Necessary to Obtain a Mortgage

When it comes to getting a mortgage, there’s no denying that having good credit is important. Lenders use your credit score to indicate your financial responsibility and loan repayment ability. However, the myth that you need a perfect credit score couldn’t be further from the truth.

While a higher credit score will certainly work in your favor, many lenders offer mortgage options for borrowers with less-than-perfect scores. Some programs specifically cater to those with lower scores or limited credit history.

Mortgage Pre-Approval Guarantees Loan Approval

Mortgage pre-approval is a crucial step in the home buying process. It gives you an idea of how much money you can borrow from the lender based on your financial information and creditworthiness. However, it’s important to understand that pre-approval does not guarantee loan approval. During pre-approval, lenders review your income, employment history, credit score, and other factors to assess your ability to repay a mortgage.

Adjustable-Rate Mortgages (Arms) Are Always Risky

When it comes to mortgages, one common myth is that adjustable-rate mortgages (ARMs) are always risky. While it’s true that ARMs come with some level of risk, labeling them as inherently dangerous can be misleading. An adjustable-rate mortgage is a home loan where the interest rate can change over time. Your monthly mortgage payments could increase or decrease depending on market conditions.

You Need a 20% Down Payment to Buy a Home

One of the biggest misconceptions when buying a home is that you need a 20% down payment. While having a substantial down payment can certainly be beneficial, it’s not always necessary. In fact, many loan programs are available that allow for much smaller down payments. Other options exist, such as VA loans for eligible veterans and active-duty military personnel, which often do not require any down payment.

Homebuyers can make informed decisions when navigating the mortgage process by debunking these myths and understanding the reality behind them. It is crucial to consult with professionals such as lenders and real estate agents who have the expert knowledge to understand the intricacies of mortgages fully.…

How Financial Institutions Can Benefit From Automated Payment Solutions

26 May,2022 Layne PottsLeave a comment

Digital payment options are becoming more and more popular as consumers move away from traditional payment methods like cash and checks. Firms are getting new traction as digital payment platforms for businesses.

Financial institutions can benefit from this trend by implementing digital payment solutions into their operations. Below are the benefits of digital payments for financial institutions.

Efficiency

One of the most significant benefits of digital payments is that they are more efficient than traditional payment methods, like cash and checks. Financial institutions can process transactions faster with digital payments, saving time and money.

According to a study by Juniper Research, the total value of digital B-to-B payments will reach $27 trillion by 2023, up from $15 trillion in 2018. It represents a compound annual growth rate (CAGR) of 11. The study also found that the total number of B-to-B payment transactions will reach 550 billion by 2023, up from 320 billion in 2018. This represents a CAGR of 12%. These figures show a large and growing market for digital payments, which financial institutions can benefit from.

Security

Another benefit of digital payments is that they are more secure than traditional payment methods. With digital payments, financial institutions can use encryption to protect sensitive information. In addition, digital payment systems can be designed to require multiple layers of security, such as a PIN or biometric authentication. It makes it difficult for criminals to gain access to sensitive information.

Customer Satisfaction

Digital payment systems can also improve customer satisfaction. With digital payments, customers can make purchases quickly and easily. In addition, digital payment systems often offer rewards or loyalty programs that can further increase customer satisfaction. Financial institutions that offer digital payment options can benefit from increased customer satisfaction.

Get Started With Digital Payments

If you’re interested in implementing digital payment solutions at your financial institution, keep a few things in mind. First, it’s essential to choose the right payment provider. There are various payment providers out there, so it’s crucial to research and find one that best meets your needs.

Second, you’ll need to integrate the payment system into your existing infrastructure. It can be a complex process, so it’s essential to work with a payment provider with experience with integration.

Finally, you’ll need to train your staff to use the new system. This training should cover everything from setting up accounts to processing transactions. Once your team is trained, you’ll be ready to start processing digital payments.

Conclusion

Digital payment solutions offer several benefits for financial institutions. They are more efficient than traditional payment methods, more secure, and can improve customer satisfaction.…

The Top Benefits of Car Title Loan Refinancing

27 Apr,2022 Layne PottsLeave a comment

If you have a car title loan, you may be interested in refinancing. Refinancing your loan can provide several significant benefits, including lower interest rates, smaller monthly payments, and shorter loan terms. This blog post will discuss the top reasons to refinance title loans. Keep reading to learn more.

It Offers Lower Monthly Payments

One of the most significant benefits of refinancing your car title loan is that it can help you lower your monthly payments. Refinancing allows you to secure a new loan with more favourable terms. For example, you may be able to get a lower interest rate or extend the duration of your loan. This can help you save a significant amount of money each month.

It Reduces Interest Rates

Refinancing your car title loan can also help you reduce the amount of interest you pay over the life of the loan. As we mentioned above, refinancing allows you to secure a new loan with more favourable terms. By securing a lower interest rate, you will pay less interest over the life of the loan.

It Prevents Repossession

Another significant benefit of refinancing your car title loan is that it can help you avoid repossession. If you struggle to make your monthly payments, then refinancing may give you the breathing room you need to get back on track. You will have more money available each month to make your payment on time by lowering your monthly costs. In addition, if you extend the term of your loan, you will have more time to pay off the balance.

It Provides Extra Cash

Finally, refinancing your car title loan can provide you with extra cash. If you have equity in your vehicle, you may be able to use it to get a cash-out to refinance. It means that you can take out a new loan for more than the balance of your existing loan. The difference will be paid to you in cash. This can be a great way to access extra funds for any purpose. For instance, you could use the money to make home improvements, consolidate debt, or pay for a significant expense. If you’re considering refinancing your car title loan, there are a few key benefits to keep in mind.

You could save money on interest rates and monthly payments, get a longer repayment term, or even lower your total balance by refinancing. So before you sign up for another car title loan, be sure to compare rates and terms from several lenders to find the best deal possible. Thanks for reading.…

Why Your Business Needs a Chartered Accountant

7 Apr,2022 Layne PottsLeave a comment

When you are starting a business, one of the most important decisions you make is who will help you manage your finances. Many business owners think that they can handle their finances independently, but this is a mistake. A chartered accountant (CA) can help your business save money and make more money. In this blog post, we will discuss the reasons why your business needs limited company accountants.

They Provide Security

Running a business is hard enough without worrying about whether or not your finances are in order. A chartered accountant can take care of all your financial needs, so you can focus on running your business. CAs are also experts in tax law, so they can help you save money on your taxes. They can also help you plan for the future to make the most of your business.

They Are Well Trained

Chartered accountants are highly trained and experienced professionals. They have the knowledge and expertise to help you with all aspects of your business. This is because they complete a professional accounting designation. CAs also have to meet continuing education requirements, so they are always up-to-date on the latest changes in the accounting world. This means that you can be confident that your CA is always up to date on the latest changes that could impact your business.

They Demonstrate High Integrity

When you work with a CA, you can be confident that they will always act in your best interests. CAs are bound by a strict code of ethics, which requires them to work with integrity and honesty. It means that you can trust your CA to give you accurate advice in your best interests. For instance, they will never tell you to do something illegal or unethical. In addition, CAs are required to keep your information confidential.

They Offer Advice Services

Another great reason to work with a CA is that they offer advisory services. This means that they can help you with all aspects of your business, from financial planning to marketing. They can also provide you with information and resources that you may not be able to find on your own. It makes working with a CA an invaluable resource for any business owner.

You might be thinking, “Do I need a chartered accountant?” The answer is yes. While you may be able to do your bookkeeping and tax preparation, it’s always best to consult with an expert who can help you make sure you’re taking advantage of all the deductions and credits you qualify for.…

Three Simple Reasons to Hire a Personal Tax Agent

3 Sep,2021 Howard Brockman

The price of excellence is constant vigilance, and you can take that to the bank, my friend. You are eligible to be sent to jail for tax evasion with the smallest slip-up or forgetting to file a small tax. But not all of us are well-versed with tax handling and recording, which is why there’s no better decision to make than hiring a personal tax accounting agent. A professional tax agent can help you go through all of your taxes, file, and record them properly, so you won’t have to do them yourself! Here are other reasons why you should hire a personal tax agent:

It Can Save You from Jail

Jail is not a kind place. It doesn’t matter if you got in there because you have killed someone or you evaded tax, the place will not treat you any better, and it’s pretty much the law of the jungle in there. You should do everything in your power to avoid going to jail, and that is why it is better to have a professional tax agent go through your accounts to spot anything you might have missed, such as deductions or tax credits. Trust us when we say that jail time is much worse than paying for a personal tax agent!

It Can Save You Precious Time

We all know that you’re a busy guy and filing and reporting taxes are just one big time waster, especially if you don’t know how to do the job. Instead of learning to do it yourself (which will take much more of your time), why not hire someone capable of doing it for you? Your time is worth your money, and it is wise not to spend 20 hours a day on filing taxes because you won’t get the time back, not to mention if you need revision! Hire a personal tax agent if you value your time!

It Can Save You from All the Stress

Tax reporting is a pain in the rear, and the IRS won’t be so lenient with tax evasion or missed reports, which is why to save you from the stress, you should get yourself a personal tax accounting agent! They can handle the IRS when the audit is upon you, and they can also take care of all the errors and mistakes your business might have inputted. Gaining peace of mind in this day and age is the best thing ever, and you should consider hiring a personal tax accounting agent to accommodate it!…

Top Benefits of Outsourcing Accounting Services to Chartered Accountants

28 Jul,2021 Layne Potts

If you run a business, the chances are that you might need some help with your accounting. Notably, most business owners tend to overlook the need to take good care of their books until there is a real issue that should be addressed. If you have been in the business world for some time, you might be looking at the possibility of hiring a chartered accounting firm. Here are some reasons why you should hire a chartered accountant, regardless of the size of the business.

Ensures Taxes Are Filled Properly

Handling and filing tax returns is a fundamental business operation. Any business owner must have their taxes filed in full compliance with the law unless they want trouble with the tax authorities. Chartered accountants ensure that your taxes are handled properly, not to mention that they have to deal with enormous paperwork. This way, you can rest easy knowing that the tax authorities will not be on your neck any time soon.

Provides a Wealth of Experience

To be registered as a chartered accountant requires that you have a wealth of experience in various accounting disciplines. Moreover, these professionals have experience working with successful organizations and enterprises struggling with their finances. Therefore, beyond balancing your books, chartered accountants are best placed to provide you with objective business advice. Also, these professionals might monitor your business and process necessary adjustments, if any.

Saves Time and Money

Time and money are vital resources for any business. If you want to focus on key business operations, you should free your hands of some tasks that might be taking too much of your time. With this in mind, hiring a chartered accountant goes a long way in helping you focus on key business functions that ensuring that your products are competitive or building connections. Even if you might be required to pay for the services rendered, the costs of hiring chartered accountants undoubtedly outweigh the costs.

Gives You a Sense of Security

Any business owner would fancy having a situation where they are assured that their money is in safe hands. Because chartered accountants are often subjected to strict rules and regulations, they are undoubtedly the best accountants that you can have in the market. You can also count on them in case something goes wrong with your finances.…

Three Things to Consider Before Going to a Money Lender

25 May,2021 Layne Potts

The money lending industry has been around for several decades. But it has become more common in recent times, perhaps due to advances in the technology industry. Today, it is possible to find financing in a matter of minutes, and of course, most of these lenders do so by neglecting particular prerequisites. For example, you can apply to a reputable Singapore money lender without any collateral or credit history. It would be best to ask your family and friends for advice, as they can also give you essential information that could be useful to you. Keep these tips in mind when looking for a great moneylender:

Review Their Reputation

When it comes to money matters, you have to be very cautious because things can quickly go wrong. Therefore, if you are going to get a moneylender, you must take your time to find suitable lenders. On the other hand, the best method to do this is to study testimonials from previous customers. Whether they are negative or positive, try to see as many testimonials as possible until you are convinced that you have the perfect picture.

Check if They Are Licensed

By dealing with an unlicensed moneylender, you run the risk of getting inferior solutions and being manipulated. On the other hand, an excellent moneylender demonstrates the validity of their presence by being licensed. If you know that the institution is not licensed, you should stay away from these lenders as much as possible. However, it is crucial to do a thorough background check on this lending company initially, regardless of what you hear about them. This will save you a lot of stress down the road. Make sure you search the internet for testimonials on various customer forums, get the contact details of previous customers, and contact them directly.

Evaluate Their Interest Rate

Each foreign currency lending company has a specific interest rate and preferred repayment system. This is one of the most straightforward variables to look at when studying a particular financial technology company. It is always included in the advertisement, or you can discover the exact values on the provider’s website. Another option is to call an insurance broker, especially if you have other related questions. When evaluating interest rates, keep in mind that, in most cases, you are only looking at the typical interest rate and not the rate you will receive. Your actual interest rate will depend on many variables, such as your credit score and the type of loan you receive. At the same time, keep in mind that interest rates are not necessarily the only costs to consider when borrowing.

Final Thoughts

Fantastic money lenders are almost always honest with all the steps they take. The lender should provide you with all the details of their operation so that you can follow them and correct any mistakes. The institution’s website should clearly show the transparency of its solutions.…

Accounting Tips for Small Businesses

30 May,2020 Layne Potts

Accounting work can be a big challenge for small businesses. When running a small business, entrepreneurs have to do everything on their own. Working on your business without help can be tiring. Fortunately, you do not have to do everything on your own.

For jobs like accounting, you can get the services of an accounting firm. With an accounting firm, you can save costs on hiring a full-time accountant. It can also help you to focus on your business. Entrepreneurship is challenging enough, and you do not have to burden yourself with all the work. Here are some accounting tips for business:

Separate Business and Personal Finances

The first step is to separate business and personal finance. You need to have separate bank accounts for your business and for your personal finances. Using separate bank accounts will help you to know the status of your business.

It isn’t easy to have a solid financial plan without separating business and personal finances. With separate bank accounts, it will be easy to foster discipline and learn how to spend money wisely.

Professional Accounting Work

The first step is to make your accounting work in order if you want to grow your business. Taking care of your books of accounts is not possible without the right professionals. You will need to get a professional accountant to help you with accounting work and also advise you.

Professional accounting is necessary when looking for investors because they will need to assess your business’s financial standing. Outsourcing accounting will help you to fulfill government requirements and also meet tax obligations.

Track Expenses

Tracking expenses is the best thing you can do. It is important to record everything so that you can make the progress of your business. The best way to go about it is to track all the expenses.

When you know all the expenses that you have, it will be easy to know about the areas where you are overspending. Make sure all the business expenses are noted down for accuracy.

Plan Your Business Growth

Growing a business is always a good idea. However, business growth can be an expensive venture. When growing a business, you will be required to spend a lot of money.

Before you start your business growth strategy, make sure that you have a clear budget. Planning growth can help you to minimize unnecessary financial strain on your business.…

How to Choose the Best Accountancy Firm for Your Company

30 May,2020 Layne Potts

There may be many accounting firms in the city where your company is located, and there are many more that offer online accounting services. For you to choose the best, you might need some extensive research because accounting is an integral part of every company. You must have an accurate and efficient accounting system. Accounting reports are the reflection of your company’s financial activities, the measure of economic performance, and are the bases of management decisions and policies.

With the importance of sound accounting practices, it is crucial to know the most reliable accounting firm. Certainly, you cannot rely on trial and error, as settling for a little less than the best may create some troubles for you in the future. Mediocrity should have no room during your selection process on what accounting service provider to hire.

Here’s what you should look for before zeroing in on an accounting firm to hire for your company.

Wide Range of Services

There are many fields of accounting. The best accounting firm should have experts in these particular fields. You may need to prepare your corporate taxes, statutory accounts, management accounts, payroll, cash flow, and many other financial statements that are required for many purposes and by various stakeholders like the government agencies, members of the board, suppliers, and of course, you. When hiring an accounting firm, they should do all these jobs efficiently.

Gives You the Right Advice

Financial reports are not prepared for compliance with some requirements only. They are the bases of management’s decisions and policies. Business owners should know how to interpret financial data to deduce the strengths and weaknesses of their performance. If business owners fail to understand financial reports properly, the accountant must point these out. It should give management some accolades for a job well done, and giving hints of how to improve lapses is the responsibility of an excellent accountant.

Technology-Driven

It helps to look for an accounting firm that uses the latest technology. It definitely makes them more efficient. With advanced software, you can be sure that financial reports are more accurate and can meet deadlines. You may never be fined for submitting late reports to government agencies.

Superior Customer Support

Every one of us would like to deal with a service provider with friendly, respectful, and competent customer service. An ideal accounting firm knows the value of communication. Accountants should not be like robots who only make the reports but should initiate communication when they see the need. They should answer all calls and should find time for meetings with the management.…

The Advantages and Disadvantages of Loyalty Programs

19 Apr,2020 Layne Potts

One of today’s popular marketing schemes or strategies that stores carry out are loyalty programs or membership cards. Some stores or companies make partnerships with banks to create a credit or debit card that gives loyal customers discounted rates. An example of this is the cabelas visa. Cabela’s credit card offers discounted prices and rewards for a certain amount of purchases. Loyalty programs give different kinds of benefits to their consumers and the companies as well, but it also has its disadvantages.

Disadvantages:

Market Saturation

Most customers participate in different loyalty programs from different stores. So there is a high competition between stores to give the better program because loyalty programs can sometimes be identical with other stores or brands. Because of this competition, companies or stores won’t be able to pull back from their promises because of fear of losing sales and customers.

Questionable Loyalty

Customers that have a loyalty card doesn’t necessarily mean that they are loyal. Most customers participate in different loyalty programs in other stores too. They might be buying from your store because of convenience or better perks, but it doesn’t mean that they won’t be going to the competition if they offer something better. Although, if loyalty programs are backed up with good marketing strategies, stores could still benefit a lot.

Potential Profit Loss

Because of the high competition with other stores, there might be pressure to give large discounts and rewards that might cause profit loss. It is crucial to conduct research properly and create a sustainable program before offering discounts and promotions.

Advantages:

Customers Will Feel Appreciated

Customers will feel that their loyalty is valued. They are more likely to stay loyal or more patient with any mishaps that can happen in your store. And because of the discounts and rewards, customers will feel that they’re getting their money’s worth.

Increase In Sales and Revenue

If the store or bran is smart about implementing a sustainable loyalty program, it will encourage customer retention, and it will increase revenue. Loyal customers already trust your store or brand and will likely spend more to avail rewards. And by having a more personalized approach to customers, the store can make better suggestions that will likely make the customer buy more products.

New Customers

A good loyalty program can attract new customers. Stores often give discounts or rewards for new customers to sign up to their loyalty program. If customers are happy with the program, they become one of the store’s loyal customers. Also, when stores have comprehensive loyalty programs, and current loyal customers are happy with it, they tend to tell their friends and families about it, which will attract new customers.…

5 Traits that Your Accountant Should Have

13 Dec,2019 Layne Potts

With the crucial role of recording, monitoring, and analyzing the financial aspect of a company, an accountant plays a myriad of tasks that should be accomplished efficiently on time. While all of these tasks are vital for the day-to-day operations of a company, many companies opt to hire accountants on a contractual basis rather than employing a full-time accountant to save on cost.With some accounting firms breaking down their services into packages, businesses can choose which of the packages can serve them best while saving on money.

Accounting is a tedious task that gives importance to details. An erroneous entry can spell a big difference. So when hiring an accountant, be sure that he has the following essential traits. Without one of these, your business can truly be going toward financial distress instead of going to the direction of financial stability and progress.

Trustworthy

Money is the root of all evils, so they say. An accountant has every information about your financial records, which can be used to perpetrate a crime. An accountant who is honest and principled will not be interested in what is not his; instead, he works hard for his salary and works with no required amount of supervision.

Organized

An ideal accountant should have a strong sense of organization. His work entails attention to every detail. When an accountant is organized, his records can be available anytime without any fear of being lost or misplaced somewhere. You are also sure that all entries are correctly recorded because of his attention to every detail.

Has Strong Ethical Values

An accountant should know how to use his time well to be able to come up with well-prepared reports. With his many tasks, he may need to burn his midnight oil to make it through deadlines. He should be creative to be able to give your business advantages. Having an accountant with integrity will undoubtedly never break the rules, including yours.

Values Communication

Openness is the core of effective communication. An accountant should provide all information when required and should go out on his way to give reports that he thinks are crucial at the moment. He should not hold back any data that is vital for decision-making by management. He should feel free to give his assessment on management’s policies that have financial impacts.

Adaptable to the Changing Times

Accounting procedures are subject to change because of technology. It is the duty and responsibility of an accountant to enhance his skills to be able to be competitive and to be able to provide top-notch accounting services to his clients.…

A Guide to Incorporating a Company in Singapore

7 Jun,2019 Nancy Smith

Singapore is a country that is well-known for its business-favorable profile. It has international credence and reputation, pro-business government policies, stable political environment, and professional cosmopolitan workforce. It is also a well-regarded regional trading hub within Asia-Pacific. In fact, the country was rated as the second-most pro-business country by the World Bank in 2018.

You may want to register a business or company in Singapore because of the ease of doing business and tax exemptions provided by the Singapore government. The truth is that company formation is less time-consuming and tedious. However, this is when you leave the experts to do the work for you. The following are steps to follow.

Choosing a Business Structure

Before you start the registration process, you need to identify the right business structure that is ideal for you. Usually, you will be allowed to register the following forms of businesses:

Sole proprietorship
Private limited company
Limited liability partnership
Company Name Reservation

For your new company to be registered, its name must be approved by ACRA. Your chances of quick approval will be higher if you keep in mind the following: a unique name that is easy to read and devoid of obscene or vulgar word. Also, it should not have copyright issues or infringe any trademark.

Company Registration

After your company name is approved, you can now apply for registration. This should note that a lot of time to accomplish assuming you have your documents in order.

Compliance Issues

You should note that each company incorporated in Singapore must fulfill a set of annual filing requirements to ensure it is compliant with the law. These companies ought to maintain their accounting books. Whether it is a general ledger, account receivables, account payable, and fixed asset ledger ought to be maintained timely basis. Ensure the annual financial statement ought to be prepared and filled.

Funding Assistance

As noted above Singapore has established a start-up friendly ecosystem. This means that there are a series of funding assistance from the government. In fact, the company has pumped a lot of money into these schemes. It is part of the government’s initiative to support the start-ups. It is a good idea to tap into such schemes to leverage your ideas or technology to create a business venture. Also, there are government grants, equity program, and incubator available in different states.…

What You Need to Know About Mortgages

3 Apr,2019 Layne Potts

Property purchase is one of the biggest investments that one makes. For that reason, a mortgage is common among those who need to make property investment immediately, especially those first-timers. Thus, it is vital to know how much one can afford to avoid possible future discords. This article will give you an explanation about what a mortgage is. This article will also discuss things about the mortgage that people need to know, including where to get it, the types, and how one can proceed to get it.

The Definition

Experts generally define mortgage as a form of a loan that is especially taken when one needs to purchase a property. It can be land or a house. If one has taken the loan to pay for the house, the lenders will expect the buyer to pay for the loan for a certain period. In many cases, the mortgage runs for twenty-five years, but it can be different depending on the lenders. Of course, interest rates are also common, and it aims to secure the value of the property purchased until the debt is paid off. For the worst scenario, when one fails to pay the debt, the lender has the right to take the property and sell it to get their money back.

The above explanation implies the importance of taking things that you can afford. Remember that during the period of payment, you need to pay for the loan as well as the home maintenance costs, which can be extremely high. More importantly, lenders will make sure you provide all supporting documents to prove that you can repay the debt on time.

Where to Get It?

Two options are available, and these are getting a loan from a bank or dealing with a mortgage broker. Either way, you are expected to understand the list of products that each institution offers. Besides, they also expect you to know what type of loan you want, what property you want to purchase, the expected interest rates, and how much you need to borrow.

The Process

There are several stages that one needs to go through before the approval. It usually includes initial discussions and consultations, assessing and reviewing one’s financial condition, and upon approval, the lenders will give you a seven-day reflection period to provide you with time to compare all your options. At this point, if you no longer feel that you need to reassess your choices, you can skip this and go on to cash withdrawal.…

Why Your Payday Loan Was Denied

3 Apr,2019 Layne Potts

Payday loans are meant to solve emergencies. They are short-term loans, and this means that they come with a high interest rate. The best thing with payday loans is the fact that you can get them with bad credit. However, there are times when you will be denied payday loans.

There are several reasons why your pikavippi will be denied. Each lending company has its own rules and regulations, so they determine whether you get the loan or not. Here are some reasons why your payday was denied:

You Have Other Payday Loans

If you have other existing payday loans, the lender will not give you a loan. Most of the lenders will make sure that you do not have an existing payday loan before giving you the loan. The lenders share information, and they can know how many know that you currently have.

In case you currently are overwhelmed with a lot of loans, it might not be a good idea to take a payday loan. It is essential to keep all your payday loans as manageable as possible.

You Have No Proof of Income

To get a payday loan, you should show some proof of income. You need to show that you can be able to pay a loan. The lender needs to see a proof of income to determine the amount of loan that you can qualify for.

Payday loans are known as payday loans because you are required to pay once you receive your paycheck. Your loan request might be denied in case you cannot show any proof of income.

You Don’t Meet the Requirements

In case you do not meet the minimum requirement, you will not be approved for a loan. Each lender has the minimum requirements that need to be met.

The requirements might differ from one lender to another, and it is essential to make sure that you meet the requirements of the specific lender. In case the lender assesses your qualification, and you do not meet them, the loan might be denied.

You Applied for a Lot of Money

Payday lenders have restrictions on the amount of money they can lend you. Before they lend you some money, you have to meet the requirements.

The amount of money that you qualify for will depend on your paycheck. Your paycheck should be able to pay the loan that you take comfortably.…

Finance Tips to Secure Your Startups

16 Feb,2019 Layne Potts

One of the criteria requested by investors, banks and financial companies to new startups who want to apply for a loan is a clear and complete financial report. Of course, it is crucial for new startups to be able to pay attention to economic structures that can be useful for the future, both for operational and external reporting needs.

The following article will discuss the right and easy way to manage finances by a new startup founder. Although it seems troublesome and complicated, it can be a good start for startup progress.

Adopt an Efficient Book-Keeping System

The benefits from startups compared to the traditional ones are the absence of routine financial-related activities, such as paying vendors every day, receiving deposits directly from customers as faced by other conventional companies. For that, you should find the financial system that best fits the operational character and habits of the startup. If necessary, do a review of the cash flow note application that will be used.

Evaluate Your Tax Reports Meticulously

At the beginning of the period, the startup usually does not have tax income until the business enters its third year or after four years. Thus there is not much discussion that can be done regarding the limitation of tax obligations. Ideally, from the start you can maximize the tax benefits, the priority is to start limiting corporate tax obligations. When necessary, you have to consider hiring a national tax reform expert. The budget you spend will be worth it because tax problems can lead to considerable penalties.

Hire Professional Accountants

When it’s time for a startup you need accountants because of the greater financials, look for an accountant who can be a partner. The accountant who will be hired must be able to discuss all matters related to the company’s financial issues to the company’s economic strategy. But the priority is that the accountant must be able to find the right way to collect money quickly and quickly from customers, identifying the financial metrics to take coordinated decisions.

Know Your Limit

Often, the problem is more severe if the startup founder is still in the bootstrapping stage. Bootstrapping means you finance your business by using your own money (without external funding). Every startup founder must have a lot of problems, from personal life, financial issues, marketing problems, raising business, and so on.
There are two significant problems: private and business issues. A startup can’t work efficiently in its infancy stage, because founders and co-founders have personal financial matters. In that case, hiring a third-party consultant can give you insightful inspiration.…

Five Things That Can Hurt Your Credit Score

2 Dec,2018 Layne PottsLeave a comment

Your credit score is vital as it affects your financial life in numerous ways. For instance, some firms or businesses use it as a criterion to hire staff. And that is not all, other institutions like banks, lenders, and creditors also use your credit score to determine whether you qualify for their loans, credit cards among others. The higher you score, the lesser risk you provide to the lender.

The things presented below affect your credit score, and you should avoid them at all costs:

Late Payments

The first step that you should take when trying to improve your credit score is making all your payments on time. You can lose lots of points if you make late payments. When your lender reports that you have made a delayed payment, your credit score will reduce significantly.

For instance, if you borrow funds for education, then you should ensure that you make timely repayments after getting a job. Otherwise, you might be messing around with a third of your credit score.

Misusing Credit Card

Your debts make up to 30% of your credit score, and in most cases, they accumulate as a result of poor use of credit card, loans, as well as other types of credit. You should use your credit cards wisely to avoid accumulating a huge balance. Otherwise, you will be hurting your credit score.

It is advisable to keep your card balance within a third of your limit to minimize your debts. Creditors will notice that you can afford to make timely repayments and ask for more cash.

Having No Credit History

A longer credit history is a clear indication that you have vast experience when it comes to managing your credit as well as debts. Most lenders check your credit history before determining whether you qualify for their loans or not.

If you wish to lengthen your credit history, it’s necessary that you avoid closing accounts and opening new ones frequently. Financial experts advise that you should desist from opening a new account, at least, for six months between credit applications. Most people are not aware that they can enhance their credit score by extending their credit history.

Not Mixing Credit

Try your best to mix credits as it will prove to lenders that you are able to manage various types of credit like furniture loans, student loans, personal loans, and much more. Mixing credit can improve your credit score by up to 10%. Yes, you heard me right!

Not Making Credit Inquiries

Soft inquiries won’t dent your credit score. However, hard inquiries that include every initiated credit application every time you want a credit check to appear on your credit report indicating that you made an application. Inquiries make up 10% of your credit score, and one or two won’t be an issue. A problem occurs when you make numerous inquiries within a short duration and fail to seek professional assistance for your credit card to be cleaned instantly.

If you avoid the things as highlighted in this post, then you will improve your credit score within no time and get funding with lots of ease when you need it most.…

Things to Consider Before Taking a Short-Term Loan

1 Nov,2018 Layne PottsLeave a comment

Money lenders offer loans to their clients in different capacities. As a borrower, you need to understand the requirements of the lenders, especially when you are going for a short-term loan. The options available with different lenders might not favor you, which is why you need to have accurate information regarding the financial products offered by the banks or other financial institutions.

You would not want to pay any additional charges or bear penalties over mistakes that you can easily avoid. The bottom line of any short-term loan is to understand the requirements and adhere to every single regulation.

The following are the things that you need to consider when going for a short-term loan:

Type of Loan

When you are applying for a loan, you need to be specific to the type that you need. For instance, you may need a personal, student, or business loan. Each type has different requirements that you need to be aware of so that you can qualify to get the funds.

For the personal loans, you need to provide collateral deposits depending on the lenders. Business loans will require you to provide proof for the existence of your business and other income statements to qualify. In other words, you need to understand what is required in the specific type of loan you need so that you grab a chance to get the funds.

The Interest Rates

It is important to check the interest rate of the short-term loan that you intend to apply. Remember that different lenders offer varying interest rates depending on your repayment plan. You need to be keen on the amount that you are supposed to pay every month to avoid paying more than you can afford.

Compare the interest rates of different lenders to figure out the best that meets your ability to repay. Research on the best lender with a lower interest rate before you apply. However, you need to be prepared to pay a higher interest rate if you have a poor credit score because it is what most banks and private lenders will ask you to do.

Understand the Terms of the Loan

Before you apply for any type of loan, it is required of you to understand all the terms to avoid being subjected to extra charges and heavy penalties. It is a good idea to ask for the lender’s terms and check all the requirements so that you stay on the safe track after application.

Ensure that you apply for a loan that you are capable of repaying in the shortest time possible to avoid compromising your credit score and the agreement you sign with your lender. Similarly, you do not need to borrow additional money from your lender especially when it is an emergency loan. This will reduce your chances of compromising the loan terms. If possible, you need to ensure that you go for a loan that can be paid back as soon as possible to reduce the amount you are supposed to pay in due time.…