A financial emergency is more than just an inconvenience; it is a panic-inducing demand that can leave our delicately balanced monthly budget in tatters. The specific nature of the emergency might be anything, but the result is the same: a need to access funds as close to immediately as possible. The best solution? Instant access payday loans.These loans are specifically designed for borrowers who are in need for a small injection of funds and have no time to wait around for approval. In fact, very often the applicant needs to pay their debt within hours, so even a 24-hour wait is too long. Only instant loan approval will do.Of course, in offering payday loans so swiftly, lenders take quite a risk – or at least seem to be. And, as we all know, nothing is free in the financial world. For this reason, it is important to take a careful look at the terms, conditions and compromises that have to be made as part of any loan deal.All In The NameThe first clue to the terms and conditions that come with an instant access payday loan is the name itself. These loans are granted against an upcoming paycheck on payday, so while there is no need for collateral, there is a need to have a reliable source of income.There are some compromises that come with it too. The size of the paycheck is what dictates the affordability of the loan. For example, a monthly income of $2,000 would mean a maximum repayment (in full) of $2,000 is required. Applicants can look forward to instant loan approval if that repayment is affordable.The good news is that payday loans are generally capped at just $1,500, regardless of the size of the paycheck. However, it still means that borrowers must be able to repay the principal and pay the interest in total from one check.Cost of a LoanSo what is the actual cost of an instant access payday loan? Well, there is considerable pressure placed on borrowers to clear short-term loans like this. But it is made all the more difficult when the interest rate is taken into account.The typical interest rate charged is around 30%, a rate that is justified by lenders by claiming they leave themselves vulnerable by not carrying out credit checks. Of course, instant loan approval is great compensation for the borrowers, who need the cash so quickly.Still, the fact that 30% is added in interest to the loan means that a total of $1,950 is needed to clear a $1,500 payday loan. This is a large sum to take out of a paycheck in one go, and if some careful budgeting is not done in advance, it can cause some serious trouble.Finding the Best DealOf course, different lenders will offer different terms, with some online lenders charging more competitive rates of around 20%. Though still high, it nonetheless means a lower sum is needed to repay an instant access payday loan. It will come as no surprise that online lenders offer the very best deals, so taking time to search the Internet is a worthwhile exercise.It is always a good idea to create a shortlist of the best offers available, detailing the interest to be charged, the repayment terms and whether instant loan approval is available. Luckily that is all made easy through the comparison sites that are in operation.And do not forget to check the reputation of any online lenders that seem to offer a good payday loan deal. The Better Business Bureau website offers a grading system; A-grade lenders the only ones that should be considered.
Instant Access Payday Loans: The Fast Solution to Financial Emergencies
Shopping For Boys Clothing
If purchasing boys clothing there are some things to keep in mind. It should be tough and durable but also be made so that the child in question will be willing to wear it. Avoid anything too fancy or with bright colors that might not go over well.Jeans are always fashionable and are great for boys so buying lots of them is usually a good idea. Basic colors like blue and black are good and always in season unlike fashion colors that may go out of style. Try and keep some khaki’s on hand for special events like dinners or parties.Footwear can usually be summed up in two words:Tennis shoes. Reebok and Nike are both good brands and should go with almost any casual outfits. For hot summer days a pair of sandals or flip flops can work wonders. Do not forget boots, essential for playing in the snow or going sledding in the winter.When looking for tops for boys clothing try and find t-shirts, both in solid colors and with cartoons or funny sayings, sports teams, or cartoons that the boy enjoys. Sweatshirts are a good choice for the fall and winter months. For hooded ones Nike and Champion both have high quality models. When slightly more formal attire is required polo shirts or button down ones should do the trick.For Winter gear be sure to get a coat with a removable liner. You can add it on the really chilly days and take it out when the weather starts to warm up. A hat and gloves are crucial too to stay warm. When you go shopping writing everything down beforehand ensures you do not forget anything and may help with over purchasing.Usually boys clothing will be handed down to next youngest child or given away to some other family members. If you have other children that will be wearing the clothes as the current grows out of them, be sure to keep this in mind and help keep your future costs for clothes down.
Business Capital Solutions In Canada: Accessing Proper Cash Flow & Commercial Financing
Business capital requirements in Canada often boil down to some basic truths the business owner/financial mgr/entrepreneur needs to address when it comes to financing for businesses.
One of those truths? Knowing the true state of their financial condition and what financing they do and don’t qualify for when it comes to meeting commercial lending requirements in Canadian business.
Business Loans In Canada
Whether you are smaller or start-up firm looking for information on how to get a business loan or a larger established firm looking for growth financing or acquisition opportunities we’re highlighting 3 mistakes that commercial loan seekers like your company need to avoid making when addressing, sourcing and negotiating your cash flow / working capital and commercial financing needs.
1. Understand the true condition of your company finances – These are almost always successful addressed when you spend time on your financials and understand how your financial statements reflect your access to commercial loans & business credit in general
2. Ensure you have a plan in place for sales growth and financial needs as it relates to commercial financing
3. Understand that actual hard facts about cash flow which is, of course, the lifeblood of your company
Can you honestly answer or feel positive about all those 3 points. If so, pass Go and collect $ 100.00!
A good way to address your company’s finance plans is to ensure you understand growth finance solutions, as well as how to manage in a downturn – i.e. not growing, losing money, etc; It’s never fun to fund yourself in an economic or industry downturn such as the COVID pandemic of 2020!
When we talk to clients of new or established businesses it seems they are almost always talking about sales, so the ability to understand and focus on the differences in their profits and cash fluctuations is key.
How do cash flow and sales plans and projections affect the type of financing you require? For one thing sales growth usually starts out by consuming your cash, not generating it. A poor finance plan will drag your business down and addressing financing simply gets tougher and tougher.
Three basics always emerge when it comes to your search for the right business capital and financing.
1. The amount of financing you need
2. The type of financing (debt/cash flow/asset monetization) The business loan interest rate will be dramatically affected by whether you choose traditional or alternative financing solutions. Private business loans in Canada come from non regulated commercial finance companies most often known as ‘ alternative lenders ‘. These lenders are typically highly specialized in one ‘ niche ‘ of business financing and may be Canadian firms or branches of U.S. banks and non-bank lenders
3. How the financing is structured to be manageable with your day to day operations
What Finance Company In Canada Can Meet Your Borrowing Needs & Why Is Capital Important In Business
Let’s identify and break down key financings your firm should know about and understand if they are applicable and achievable to your business. They include:
A/R Financing / Factoring / Confidential Receivable Finance
Inventory finance / floor planning / retail inventory
Working Capital term loans
Unsecured cash flow loans
Merchant working capital loans/advances – these loans are geared toward short term cash needs and are typically one year in duration. Loan amounts are typically 15-20% of your annual sales revenues.
Royalty finance
Asset based non bank business lines of credit
Tax credit financing (SR&ED bridge loans)
Equipment Leasing / Sale leasebacks – Equipment financing in Canada is used by almost 80% of all companies looking to acquire new, and used, assets.
Govt Guaranteed Small Business Loan program – Government Loans in Canada are sometimes referred to as ‘ SBL’, aka Note: BDC Finance solutions are available from this Canadian non-bricks and morter crown corporation. A small business loan via the government-guaranteed loan program comes with true flexibility around term loan duration, market rates, no pre payment penalties, and of course the low personal guarantee that is required by borrowers. These two ‘ government ‘ loan solutions are often perfect for financing a new business.
If you’re focused on not making mistakes in your business finance needs and want to capitalize on the solutions your competitors are probably already using seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your cash flow and commercial financing needs.
Stan has had a successful career with some of the world’s largest and most successful corporations.
His employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) In 2004 Stan founded 7 PARK AVENUE FINANCIAL – He is an expert in Canadian Business Financing.