We’re living on the Internet; why not borrow there?
Online lending has revolutionized the entire lending industry. In 2006, roughly 3.5 million people took out online loans, according to the Online Lenders Alliance, which is pretty astounding considering there was no such thing 10 years ago. But, when you consider all of the advantages of online loans, it’s really no big surprise.
If you need a loan, but don’t know where to start, or if you never got past “Go” with the bank or credit union where you have your checking account, American Unsecured can help with your online lending needs.
So much of life is conducted on the Internet. Correspondence, travel plans, jobs, job searches, research, looking for phone numbers, bill paying, real estate shopping, Christmas shopping, grocery shopping, pet shopping, date shopping and mate shopping. If you worked in a bank every day, applying for a loan while you were there would be a no-brainer. If you’re on the Internet everyday, it makes sense to apply for a loan on the internet … and you can do it in your pajamas.
Personal relationships with lenders are over
Even if you have accounts at local banks or credit unions, do you ever go inside? Do you ever go beyond the drive-thru lane or the ATM? Do you know your lender’s name? Have you ever met him or her face to face?
Bankers’ hours
The expression was minted for a reason. In the bad old days, banks were open from 9 to 4. Credit unions were rare, and there was a thing called a savings and loan. Things haven’t really changed that much – just try to take out a loan without taking off work.
Better rates
Gartner, an independent research corporation, estimates that online loans cost the lending institution 20 to 30 percent less than traditional loans. That means online lenders can give you a better rate. And with a margin like that, online lenders can be far more lenient and generous with their applicants.
Faster turnaround
You don’t need to spend a week biting your nails while you wait for a verdict from a bank. In many cases the acceptability of an online loan application is determined by automatic decisioning (basically, a series of if/then statements). So you can get a response in as little as 15 minutes.
See what American Unsecured can do for you today.
In business, remember that cash is king
In order for a business to stay afloat, it must maintain an adequate level of cash. There are six steps you can use to improve your cash flow and keep adequate cash, which means enough cash to meet your obligations.
First of all, make sure you define what type of customer you wish to extend credit to. Do you want to set a cut-off on credit scores? If you extend credit to customers with questionable credit histories or scores, you may experience late payments or no payments. This will slow down your cash flow and increase your collection costs.
Make sure to keep track of customer payments. Keep your payment records up to date. You may wish to use a specialized accounting software program that will keep track of your invoices and when payments are made. If customers are late with their payments, you could have a cash flow problem. Accurate record keeping will help.
Set appropriate credit terms and offer a cash discount. Make sure your customers understand how long they have to pay their bill. Extend your timetable for making cash payments.
Cut back on spending whenever possible, until it is less than your revenue on a month-by-month basis. If an emergency happens, then you will be prepared.
Increase your sales and make sure you aren’t holding on to obsolete inventory. If you are, mark it down and sell it. Storing it is costly and selling it at a lower price is better than not selling it at all.
Don’t just add up your numbers; manage them. If you remember that and follow these tips, you should see an improvement in your cash position sooner, rather than later.
Unsecured small business loans from America One Funding Group offer borrowers an immense flexibility and quick accessibility necessary in situations of urgency – which can be a lifesaver for business owners.
Online applications for unsecured loans are submitted with little required documentation and are assessed very quickly, so the applicants get an almost immediate response. And, when an application is accepted, the funds can be wired to an established checking account so the entire process, from application to deposit, can be completed in less than 72 hours.
Because there aren’t requirements for collateral, the America One Funding Group applicants don’t have own or have equity in automobiles, real estate or financial investments. Applicants who do have those assets don’t have to place them at risk. Another advantage of not securing a loan with collateral is the ability to sell the car or house that would be otherwise encumbered as security, limiting the owner’s rights of property ownership.
Unsecured small business loans typically have lower interest rates than a lot of credit cards, but their rates are usually higher than secured loans. The largest loan amounts and lowest interest rates are available only to those with excellent credit scores, but even borrowers with damaged credit can usually access an unsecured business loan with a higher interest rate.
Unsecured business loans are fast, flexible and easily accessible with online applications. Let America One Funding Group help you get the money you need to keep your cash flowing, and you business successful.
Helping your parents with estate planning
When you were growing up, did your parents ever tell you that your bad behavior could get you written out of their will? Sure, they may have been joking, but until we all grew up and realized they were joking, it was a pretty effective parenting tool.
For most of us, as kids we just knew that a will was something that our parents didn’t really talk about a lot, but we understood that it meant they would someday hand down things to us and other people they cared about.
These days, most surveys indicate that the majority of Americans rarely discuss 
with their parents. In most cases, adult children have no idea what their parents would want them to do with their “worldly goods” if Mom and Dad were to become incapacitated.
The reasons people create wills are simple: they want to pass on their assets to their family members, rather than let the government get it, they want to keep peace in the family by making decisions about who gets what ahead of time, and they want to plan ahead for the costs of health care should they become incapacitated.
But what if your parents aren’t prepared? If you suspect this is the case, you should broach the subject with them. But how?
Begin the conversation with telling your parents that you want to understand what they want. Ask specific questions about who they want to receive property, how they want their assets divided or spent, and whether they’ve thought about how to avoid high taxes and lengthy probate.
You should make sure to acknowledge that you understand that this is their money you’re talking about. Help them to understand that advance planning means they can maintain control.
Stay focused on your parents’ concerns and remember that this is about them – not your needs or wants. They may be struggling with finding a fair way of dividing up what they’ll leave behind, and would rather not confront these issues. If they are uncomfortable talking with you, recommend they talk with a financial planner.
One way to help them is to talk about your own experience in setting up a will or estate planning. Share with them what you’ve learned, and you could create openings for discussion.
However you go about it, get the conversation started. Tread carefully in bringing this up with your parents. Your motive should be entirely about helping them meet their own needs and wishes. Remember: an inheritance, if you receive one, is a gift, not a right.
Personal loans
Personal loans from family members are like land mines. Take a few simple steps to minimize risks.
The bank is usually the first place people think of when they need personal loan. However, if the bank is not an option, many would-be borrowers need personal loans from their families—a situation rife with opportunities for resentments, hurt feelings, jealousy and financial ruin.
No matter how badly needed, think twice—or thrice—before approaching family members for personal loans. Borrowers must anticipate potential problems and take all precautions to avoid them.
The first and most important consideration should be determining the most appropriate family member to approach. No matter which family members are approached, extending and accepting personal loans will probably have some uncomfortable consequences. When parents make loans to their adult children they feel entitled to know the details of borrowers’ finances, and to comment on them. Personal loans from siblings may also affect relationships with their spouses.
Before asking for personal loans, borrowers should consider the following:
- Can this candidate afford to make personal loans?
- Is this candidate likely to agree to make the loan?
- Can they afford the financial hit if the loans cannot be paid back?
- What effect will the debt have on the relationship?
- What will the effect on the relationship be if the loan cannot be paid back?
Borrowers might make suggestions that will increase the likelihood of a positive response and decrease the discomfort and risks inherent in personal loans from family members.
- Offer collateral. Doing so means lenders can place liens against the property if the borrower in case the borrower ever files bankruptcy. Lenders can then place liens against the assets and receive repayment along with other debtors.
- Give potential lenders the option of co-signing on personal loans from the bank. Doing so makes everything more official and involves a third party to neutralize the emotional aspects of the transaction.
- Whether it is done at the bank or over the kitchen table, insist that personal loans carry interest charges and very specific terms and put it all in writing. Have the agreement notarized. Ask for receipts on all payments. Following these steps increases the likelihood of repayment and avoids the potential of later confusion.
Finally, do not trust that personal loans from parents to their children will never be divulged to other family members. When other siblings later learn of the “secret” advance, they are likely to become suspicious, jealous and concerned about their stake in any future inheritance.
Do not put family members in a position that is uncomfortable at best and incendiary at worse. Instead, make any personal loans public knowledge and keep family members apprised of repayment progress. Ask that parents revise their wills or trusts to state that any remaining debt be deducted from the borrower’s inheritance and make sure other effected family members are aware of the new conditions.
American Unsecured
Using an online loan application? Consider safety first.
The convenience and ease of submitting an online loan application has to be weighed against the potential risks. Before you take advantage of the benefits of an online loan application, make sure you know how to protect yourself from disreputable loan companies and scam artists. Thoroughly researching the company’s record up front will help protect you from grave problems later.
- Always check with the Better Business Bureau (BBB) to confirm that the company you’re considering doing business with is a licensed lender that has achieved BBB accreditation.
- Every BBB-accredited business receives a “letter grade” ranking based on the company’s ethical performance, adherence to state and federal laws and satisfactory response to inevitable customer complaints. Never submit an online loan application to a company with less than an “A+ “ ranking.
- Read customer reviews. A company’s past performance is a good indication of what you can expect as your own experience with them.
The company should handle the information you submit in their online loan application with the utmost regard for your personal privacy and financial security. Before you provide the necessary information, you need to take just five seconds to complete a three-step security assessment.
Read more
Is an unsecured personal loan right for you?
Personal loans come in two flavors: secured or unsecured. The difference between them is simple enough—you’ll put up collateral to secure a secured personal loan but not for an unsecured personal loan. The only question is which works best for you.
An unsecured personal loan presents a higher risk for the lender, so requires a higher credit score and income. That risk level also means that an unsecured personal loan comes with a higher interest rate than a secured loan.
So what are the benefits of an unsecured personal loan? Their broad accessibility, for starters. Millions of people—especially city dwellers—don’t own houses or cars, which are commonly used as collateral. And, if they don’t have financial assets like certificates of deposit or annuities to offer as security, an unsecured personal loan might be the only option.
And, now that home values have tanked, millions of homeowners no longer have enough equity in their houses to use them as collateral for an unsecured personal loan. And, frankly, in the new economy a credit score of 725 isn’t as shiny and promising as it used to be the eyes of many lenders.
There are other benefits to an unsecured personal loan, even for those who can offer acceptable collateral. The asset securing the loan will have to be forfeited if financial calamity strikes the borrower. A period of unemployment, a family member’s medical bills or any number of hardships could mean losing a family home or necessary transportation.
For help finding the best personal loans, contact American Unsecured, one of the nation’s largest loan-consulting firms.
Use an online loan for holiday shopping and save money
Have you started your Christmas shopping yet? Have you even set up a Christmas fund? Or are you going to wait till the last minute and grab whatever’s left on the shelves, busting your illusory budget and putting the whole thing on credit cards … just like last year?
Here’s a tip to help you stay within a pre-determined and dead set limit: Take out an online loan. Set your budget. Apply for your online loan. Wait a few minutes for your online loan approval. Do your Christmas shopping online. Celebrate.
You can get an online loan and complete your Christmas shopping within a single evening, and do it all within a reasonable budget without touching your high-interest credit cards.
While it’s true, you’ll have to pay the piper and start making online payments for that online loan, an online loan comes with a fixed interest rate and currently, interest rates as low as 10%. Best of all, there are no prepayment penalties, so you can use your income tax return to pay it off by March 1. Or, if you’re lucky enough to get one, you can use your Christmas bonus and pay off the loan before the gifts are even opened.
So, let go of the stress. Stop worrying about disappointing the people on your shopping list. Take just a few minutes to apply for an online loan and spend the rest of the holiday season imagining the delight when they open their perfect gifts.
Contact American Unsecured and let them help you get an online loan.
Need a loan? Get an online loan.
Your first decision will be whether or not to get a loan, but your second one will be where you’ll get a loan. In the past, small business owners went to a local bank when they needed a loan. Now, smart business owners know the way to get the best loan is to get an online loan.
One of the underpinnings of capitalism is that competition benefits the consumer, but getting quotes from several brick-and-mortar banks is too time consuming. Applying for an online loan solves that problem.
In most cases, online loan applications are approved or rejected within 24 hours, and in some cases, in just minutes. That quick turn around makes it easy to apply for an online loan with several lenders to compare their terms and rates. Once a decision is made on which loan offer to accept, the money can be electronically deposited into the borrower’s bank account with 24 to 48 hours. Read more
What type of business loan is right for your business?
Whether you have a fledgling business or one that’s been long established, at some stage of the game, you’re going to need a business loan.
Needing one and getting one are two different things, though. You can maximize your chances of getting a business loan—any business loan—by knowing what to expect from the lender.
At the very beginning – At this stage of the game you’ll need seed money, but you can’t get it as a business loan from the bank. You’ll have to use your own assets, get a business loan from family or friends, or take out a personal loan. Wherever it comes from, this money will be used to create your business plan—an essential for starting a business and getting a loan later on.
Almost there – This is the time for a startup loan to purchase inventory, and to lease or buy equipment or the location for your business. The importance of a thorough business plan can’t be overstated, but that alone won’t get you a business loan. You’ll need to show the lender that you’ve invested a considerable amount of your own financial assets, and are prepared to contribute more.
When you apply for this first business loan, a big part of the bank’s decision is going to be based on your personal character, reputation and financial history, so be prepared.
Well underway – Get a business line of credit before you need it. There will be times you need to increase inventory, do some additional hiring, replace equipment or respond to a sudden emergency. You’ll need to show the bank you have enough excess revenue to make the loan payments, so don’t wait till you’re in dire straits to apply
Ready for the next stage – Your business plan should be evolving as your business does. When the time is right for expansion, you’ll use that plan and your projections obtain a business loan to help you continue growing your business.
Contact American Unsecured and let one of the nation’s largest loan-consulting firms help you obtain your business loans. Since 1999, their experience and bank partnerships have helped others acquire hundreds of millions of dollars in personal and business loans.
Getting small business funding during economic downturn
What’s the upside to losing your job during an economic downturn? The freedom to start your own business. It might seem counterintuitive, but half of the businesses on the Fortune 500 list began during a recession or bear market, according to a study by the Kaufmann Foundation.
When money’s tight it might be more challenging to open an affordable business and get the small business funding you need for your startup, but it’s not impossible.
• You always need a thorough business plan to get small business funding, but when money’s tight make you must include contingency plans.
• Make sure your business is recession-proof by offering an alternative to similar, more expensive services or products. For instance, the average cost of a wedding has dropped from an all-time high of nearly $30,000 in 2007 to around $17,000. Why not be the wedding consultant who specializes in elegant, scaled-back weddings?
• Lenders appreciate that franchisees benefit from training, management support, name recognition and shared marketing, so they might be more likely to approve small business funding for the right franchise business.
Lenders will be more likely to provide small business funding to applicants who have built cost-saving measures into their startup’s business plan. For instance:
• If possible, start with an in-home operation. Even if your home needs minor renovations to accommodate your new workspace, that’s less expensive than new construction or a commercial lease.
• Consider sharing space with another business if you can’t operate your business from home.
• Rent your office furnishings and equipment or buy them used.
• Tap into the talents of unemployed friends and relatives to save money.
Once you’ve acquired small business funding, how can you improve your chance of success?
• Network through your local chamber of commerce or professional association.
• Barter services with other businesses.
• Customer service is more important than ever when people are pinching pennies. You need their referrals.
• Offer first-time customers discounts or gifts. Give them additional discounts for each referral.
• Take advantage of free or low-cost classes through the Small Business Administration, or local community colleges or technical schools.