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Documents required for Land Purchased Loans
For approval of loan
a) Common for all applicants:
1. Allotment letter of the development authority. 2. Copy of
approved drawings of proposed purchase. 3. Agreement for
sale/sale deed from architect/engineer for the property to...
Home Equity Loans - A Method to Unearth the Hidden Equity
You never thought that your home can be worth anything except
for living purposes. Yes, a real estate broker would have
offered a large sum on this house. But you never planned to sell
the house because of an emotional attachment with it.
...
Instant Payday Loan and Instant Payday Loans
Instant payday loans are financial loans that are available for anyone who is experiencing an unexpected crisis and is in need of additional cash fast. A lending institution will advance an instant payday loan of cash as a cash advance on a...
Online Debt Consolidation Loans- a revolt against debts
Are you tired of being swamped with bills from different
creditors each month? Definetely, you must be. Dealing with a
number of lenders at a time is a tiring job. Remembering whom to
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UK Credit Card and Debt Consolidation Loans
Your current situation.
You have got several credit and store cards and several
loans. You are finding it difficult to make the payments
each month. Generally you do make the required payments but
this means that other parts of your like are...
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Guide to Business Loans
Here is a useful guide to business loans. Business loans are loans specifically tailored for enterprising business people who are just starting their own companies or existing companies needing additional funding for expansion or restructuring.
Business loans serve a variety of needs for both new and established businesses. These business loans come in a variety of options depending on the rate of interest and the preferred repayment needs.
Generally, applying for business loans is a more involved process than applying for a personal or home loan. The requirements for a business loan are evaluated differently and the standards to be met are stricter than for a secured personal loan.
Your options will also depend on the bank you are dealing with; banks offer different loan packages, each with its' own particular set of terms and conditions.
While you can check out what your own bank has to offer, it is worth investigating the business loans being offered by other banks as well.
For an established business, business loans enable additional cash flows to provide funds for fresh purchases, making essential payments for payroll and rent etc.
Business loans are also acquired to meet needs of refinancing money borrowed previously from banks and other financial institutions.
Once you start the loan application process, banks and other financial institutions become very interested in your creditworthiness and credit rating, since this determines how much money they will lend you and how much interest you will pay on the loans you take. These ratings indicate whether or not yours is a high risk loan.
In order to decide whether to get a loan, you should take a careful look at your business's investment
needs. Then you should look at your cash position. Your decision about how to fund whatever you wish to invest in should depend on your cash position but also on your business position because when you take out a loan, you are preserving your cash position, which means that your liquidity is also preserved.
You will find it a lot more difficult to get a business loan on favourable conditions if you are in dire need of cash. This is because your interest rate and amount you can be loaned will depend on your ability to pay your loan back. If your cash position is precarious, then you'll find that your interest rate is higher as the lender would feel that they are taking more risk. Should your cash position be strong, then you'll get better loan conditions.
In order to improve your chances of getting a loan, you need to show the lender why you will be reliable with your loan repayments. If you have accounts, show the lender your earnings history, and if possible a realistic assessment of your future earnings potential. It will also help you if you have personally invested in your own business. This will show the lender that your interest will be aligned with theirs, and you are both sharing the risks in your business.
Should you be a sole trader, you will be responsible and liable for the repayments. In a partnership, all partners will be jointly responsible. Finally, if you are a company, the directors are likely to be liable.
You may freely reprint this article provided the author's biography remains intact:
About the Author
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.
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