Guarantor loans vs payday loans

There is a distinct difference between guarantor loans and payday loans, the obvious one being that guarantor loans require a credible guarantor, a person who financially vouches for whoever is taking out the loan. Payday loans, on the other hand, are secured on the borrower's next income payment. Although both are forms of short-term loans, other variations also apply. The key differences...

Continue Reading

Investing in the loan market

Traditionally, many people think of investing as placing savings or lump sums into an investment vehicle, such as a high-interest savings bank account, ISA, unit trust, bond or hedge fund. Other forms of investments include currency, property and artefacts. Investing in the loan market, such as in long or short-term loans, takes on a different meaning. What does it mean to invest in the...

Continue Reading

Short term lending can take away your financial burden – here is how

Increasingly, more and more people are in need of accessing money at short notice to cover emergency costs. Â Some await their salaries or wages and are extremely stressed in trying to meet payment deadlines before their monies are received. Â Others may wish to cover business operating costs before income is received from outstanding invoices owed by customers. Whatever the reason, short...

Continue Reading

Credit Score – What does it mean?

A credit score is not the same as a credit rating or history. All three factors have to be considered by lenders assessing an individual's loan application and suitability for a loan. Credit companies require information from potential borrowers to determine a credit score and rating. Â The credit score is used by lenders when deciding about lending money for long or short term loans. Â From...

Continue Reading

Ten tips when considering a loan

Making a decision to borrow money through a loan is not easy. Â These ten tips when considering a loan can help you get better borrowing value for money. Identify the borrowing purpose. Narrow borrowing parameters. Obtain a credit report from a credit checking agency. Understand what constitutes your credit score. Take steps to improve your credit rating. Compare lending practices to choose...

Continue Reading

How to improve your credit rating

The credit rating is a cumulative score reflecting a person's financial health and ability to repay debts. Â Applications for loans may be declined based on an individual's credit rating, making it harder to meet home or business expenses. The higher the individual's credit score, the more likely lenders or creditors are to approve lending, such as for a short term loan. Â Each person's...

Continue Reading