Tuesday, July 27, 2010

Education Loans - To Build Secured Future (TO BULID YOU’RE FUTURE)

To excel in life, it is important that you study at a reputed institute. However, today education is certainly not cheap. Many students find it difficult to pay for their education (for their high cost of their education.). Education loans are designed to give financial help to the students who really need it. They can opt for this credit facility without any trouble. Education loans are crafted to suit all types of students thereby to make them accessible to all.

Students do not have to face any problems in paying back education loans. All lenders either public loan providers or private lenders, give students plenty of time to repay the loan. Students are not working people and hence do not earn sufficiently to immediately starting paying back education loans. Students can start paying back federal educational loans six months after they have finished their college education. Usually ten year repayment duration is offered for education loans. For greater educational loans the repayment duration may be larger.

As far as paying interest rate is concerned, a student has the option of paying or not paying interest during the college education term. However, if some amount is paid towards interest then it becomes a lot easier for the student to pay off the remaining amount after he has completed college education.

Some requirements are to be followed for education loans. The student applying for education loans must have attained the age of eighteen years, and is expected to bring a co-signer along. Credit report of the student may also be required for the loan. Usually credit unions provide educational loans on taking a property of student like a vehicle as security. The student has to submit his college and course details to the creditor along with the copy of his duly attested college identity card. With the help of education loans you can pursue any course of your choice.

One can obtain these loans in two forms secured and unsecured. Secured education loans can be obtained by pledging any of your valuable assets such as property, car, valuable documents and shares etc. as security. This will help you (to) borrow a larger amount for a longer time period. On the other hand, if you cannot meet the collateral obligation then, unsecured education loans are an ideal option for you. You can raise a small loan amount for a short period.

The loan amount generally depends on your course fee, repaying strength and credit scores. The repayment of the loan amount is quite possible as you can start the repayment after completion of your course. You maybe allowed a repayment break of 6-9 months. The interest rates on these loans are kept low so that it can be repaid easily.

Although education is becoming expensive, it is rewarding in the long run. Education loans cover every big or small expense of the borrower.

Thursday, July 15, 2010

Asset Based Finance - A Little about Asset Based Financing

It can be defined as the provision of structured working capital and loans, secured against company assets, such as land and buildings, plant and machinery, vehicles, stock and debtors. It is used by businesses and individuals that use assets as collateral. Since the assets act as a guarantee to the loan, the business or individual doesn't need to have excellent credit; the quality and quantity of the securities are the only factor of concern.

(Note: If you are looking for unsecured loans or need some financial advise visit here www.badcreditunsecuredpersonalloans.co.uk)

This financial help is known by different names:
It is called a non recourse loan that does not any personal or business liability. It can be for personal or business reasons, and it can be used for any reason.

Since there is no credit the whole application process is very simple and very fast. There are six basic steps:
  • Fill out the online application with the needed information about the proposed collateral and the amount of the funds your company needs.

  • Show proof of ownership of your securities.

  • Lender looks at the documentation provided and decide on the terms and loan to value ratio based on the pledged collateral

  • Sign on the loan

  • Arrange for your securities to be transferred and plan on making quarterly payments.

  • You receive the funds within 3 to 5 days

Once the asset based loan is due, you may pay off the loan and get back the same number of pledged securities. You can also decide to refinance the loan if you want to keep enjoying the benefits of the loan.

Remember that the term ranges from 1 to 25 years. That period of time gives you or your business enough time to arrange for other more traditional forms of payment.

As with any other type of financing, it is important for you to learn as much as you can about how an asset based loan works. By doing so, you can potentially save thousands of dollars in the life of the loan.

Asset based finance is indeed a good choice for borrowers who do not have any inhibition to pledge his property as security to avail a loan. With the assistance of these loans borrowers can fulfill their various needs. It is immensely popular among the masses because of its cheap interest rates and flexible repayment terms.