10 months ago

What Causes Many College Students to Fail or Drop Out?

"Prioritization of financial aid and cost over other historical considerations such as academic reputation and graduates' job prospects has been growing, said Seth Allen, vice president and dean of admissions and financial aid at Pomona. 'The idea of investment has moved from the education experience and thinking and problem-solving skills to a more practical orientation of what career will this prepare me for, Allen said'," according to Carla Rivera in the article titled Cost, Financial Aid Becoming More Important in College Choice.

Mental health problems or health problems in general cause many students troubles. According to Jack Grove in the article titled Students' Mental Health

11 months ago

How to Establish Business Credit?

With the rapid change in the financial world, everything related to finance is changing, whether it is credit facilities or investments. Steps are being taken to make everything simple, convenient, and fast. There is a consensus among financiers that businesses have different financial requirements, and there is a need to resolve them. One such step taken by these, which may help businesses, small or big, is to establish business credit. This is an option which you can avail of, where financial institutions provide loans, without needing the credit rating or the personal assets of the owner as security. And, most importantly, the organizations of every size and age can avail of it, whether i

11 months ago

Do I Need A Lot Of Paperwork For Small Business Loans? by Rudy Silva

In order to be approved for small business loans, you need to prepare many things. Paper works alone do not suffice. You need to convey a clear presentation to the bankers about your business plan, how you will use the money from the loan, and how you can repay them.

11 months ago

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11 months ago

Bad Credit Borrowers Can Get Loans From You

When Nora Penic applied for a bank loan to buy a $2,700 chocolate fountain for her fledgling catering business, they turned her down.

Penic had declared bankruptcy after running up $250,000 in medical bills for open-heart surgery.

"They don't look at the person. They don't look at the human factor," Penic said. "All they look at is the numbers."

Penic's only alternative would have been to borrow the money on a credit card -- in her case, at a staggering 29 percent interest. But now, she has the money for her chocolate fountain, at 15 percent interest.

She and other prospective borrowers can appeal directly to the public, all thanks to the Internet.

On Prosper.com, borrowers post listings of the loans they want and why, along with their credit scores and the interest they're willing to pay. Anonymous individuals then make offers to the borrowers they like, stating how much they're willing to lend and at what rate.

Prosper.com's CEO Chris Larsen said it's a lot like eBay, but for money.

"If you leave this to people, they'll do better than institutions can," Larsen said.

Jane Kim, a personal finance reporter for the Wall Street Journal, said that although it's a risk to lenders, they believe it's worth it because the interest payments they receive are much higher than what they would get from putting money in a bank account.

Once a person seeking a loan has posted the condition they're amenable to, lenders will bid on the opportunity to loan the borrower money. The bids are the loan conditions, which outline the amount of interest that will be charged and the term of the loan.

On Prosper.com, according to Kim, the lending limits are between $50 and $25,000. Prosper.com also vets potential borrowers by getting background information and assigns them a credit grade.

If a borrower defaults on a loan, the site has a collection agency or can sell the loan to a debt buyer.


11 months ago

Availing Small Business Start Up Loans

Business firms avail loans for financing start ups by approaching lenders, like banks and credit unions, who decide on the prudence of the investment based on the following factors. They evaluate the loan application and decide on conventional business financing, that does not require a Small Business Administration (SBA) guarantee, provided the borrower is deemed creditworthy. In case the applicant's credit history is not up to the lender's credit standards, the financier would require an additional guarantee, the absence of which would disqualify the borrower from obtaining the loan. The American Recovery and Reinvestment Act of 2009 was instrumental in the US Small Business Administration

11 months ago

Is Bad Credit Stopping You from Getting Business Loans? | The U.S. Small Business Administration

By Marco Carbajo, Guest Blogger