Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
More
Related Discussions
Related Definitions
Related Categories
Tip of the Day

Tip of the Day Set A Budget

Set A Budget - On of the main mistakes people make is not creating a budget so that they understand where their money is coming from and going to. ...

read entire tip

Related Podcasts
Recently Added
Other Great Sites
 

Finance Company Loans

Most of the people tend to think that the only organizations which can provide one with a loan or lend money are the banks. However, that seems to be totally wrong as there are many new “sources” of loans- those could be organizations, finance companies and why not a physical person. But when the so called “lender” is a physical person, there are rarely contracts because the agreement is usually oral and it is often based on trust or even friendship.

But let’s get back to the finance companies which specialize in lending money (loans) for people. We are going to pay more attention to them as sources of loans because they really have what to offer you and I am sure that most of you will be astounded when they get some more information about the terms and conditions of some finance companies.

We will first start with the procedure of approving. Usually, it is not much more different from the procedures used by most of the banks. Each company does “mini-research” for each possible client and estimates whether he or she will be able to refund the loan. Some factors which are taken into consideration are the potential client’s incomes, expenses, the kind of job which he/she does and others. Of course, those were just a small part of the factors which are of great significance.

But what will probably impress you most about the finance companies which give loans is the interest. Believe it or not some companies have pre-prepared offers and the interest included is as much as 5%. It sounds extremely good, especially when compared to the banks’ interests of 12-14%. And I can give you a very simple example of pre-prepared offer: a loan of $50.000 could be refunded for at least 3 years. The “borrower” must have good incomes and properties which cost at least $50.000. This way the company will be kind of “insured” that it will not lose the money ($50.000) which was lent.

However, the interest is not the only advantage which the finance companies give their clients over banks and all kinds of bank institutions. As you have probably noticed while reading the “sample-offer”, finance companies are much more flexible which if of great significance for all people. It is great that you are the one who determines how much could be given this month and how much will be given the next month. The only thing which the company aims at is refunding the loan with the interest and it does not matter how much time it will take for that to happen. Well, there are some limits of course otherwise a finance company would have to wait decades until a loan is refunded!

Discuss It!

http://www.essay-writing-place.com/ said:

I completely agree that finance companies are more flexible, though though they seldom provide the backup. Are there any examples of suchlike companies?

april said:

Oh, I think that every person at least one time take a loans. So your post is very actual and informative. I like the way you presentive such unintelligibly information here. Don't waste your precious tome on doing boring paperwork - you can also use in <a href=http://www.custom-paper-writing.org/>writing company</a> real experts will create an academic work of superior quality for you.

Cheap Essay said:

Thanjs for providing this information! I didn`t know that a "borrower" must have good incomes and properties which cost at least $50 000 to borrow $50 000.

Most Popular Articles
Most Popular Definitions
Related Questions
 
Daily Definition

Definition of the Day Dressing Up A Profile

Dressing Up A Profile - dressing up a profile is a term for making a mutual fund more attractive, using deception... This deceptive practice is crafted in which mutual fund company will sell stocks that are performing poorly, and purchase stocks that are performing well... This gives the impression that...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com