Previous to the 1980s boom, it was hard to find loans without any collateral or any surety. But very soon the money lending companies, based on research, concluded that there are a considerable number of people who are in the bad books of the FICO and yet need money. And these people are more loyal towards payments as they sincerely want to improve their credit score. Following this research, the money lenders launched a scheme that is now called non secured loans.
If you are trying to get a loan, based upon assets of the company, that’s not real estate related, then you need to look for somebody who is doing business hard money lending.
Now you know! You know how the System works. And you know that nothing you do or say will change anything in your; and by the way, my; life! As the Bible states; To live long enough to bring up your grandchildren on your knee is a blessing.” or something close to that. I’m no scholar, as you probably can read. But I know a good one when I get it, and where I got it, and from whom!
Conventional money lenders rely upon borrowers’ credit history. When there is no credit history, they usually keep any asset as a security. This is the best way to start your credit record. Auto loans no credit history can be of secured or unsecured form.
There’s also an emerging trend of online money lenders and banks. Take ING for example- a completely online bank with the highest return on interest around! While it may take a little more effort to sort out the good from the bad, online lenders can certainly offer the price cuts that conventional brick and mortar institutions just can’t.
lending money to a friend or relative means that your money will not be invested in some other asset. Consider the trade off between the return you expect to receive and what you anticipate you would receive from some other investment like a CD or Money Market account.
These are quick approval loans. This short term scheme is free from all types of time consuming and fussy formalities. You do not have to look for a faxing machine as there are no needs of faxing, paperwork and documentation formalities. Generally, you a lender promises to transfer loan amount in 24 hours or even less. There is no restriction on the usage of loan amount. You can use it meet your basic needs or to plan for a holiday or party. Repaying loan amount is not a big issue at all. You just have to maintain enough balance in your checking bank account and rest will be done by lender.
Next is, you have to realize that everything is based upon the assets. So, you would be looking towards what those assets are and the value of those assets. The hard money lender is going to lend based upon the asset of what you currently have.
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