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Short Term Loans Business Consolidation Loans Business Loans Self Employed Short Term Business Loans

Short Term Loans Facts You Probably Don’t Know

Short term loans are convenient and quick ways to get money in a frenzy. You don’t have to worry about a credit check because many lenders offer no credit or poor credit loans. If you have a stable income, you’re over 18 and you’re willing to pay off a loan in as short as two weeks’ time, you have a great chance of qualifying for a loan. A short term loan is also a very potent financial tool that can help you break the cycle of debt and say goodbye to high-interest credit card debts. Read our short term loans facts now and take advantage of this useful source of finance.

How does a short term loan work?

It takes only a few minutes to fill out the application form. In 15 minutes or less, you can get the result of pre-assessment. Lenders will ask basic questions with a soft enquiry such as your income and age and the amount you want to borrow. In most cases, when you apply for quick cash like 90-day loans, lenders will review the information you provided, ask for your income verification and send you a loan offer.

What loan amount should you take? 

Depending on your financial situation, a lender may offer a high loan amount. If you don’t need all of it; don’t take the full amount. Lenders often extend higher amounts of short term loan to earn more money in the form of interest. Stick to the original amount you intended to borrow—which must be limited to the amount of money you need to meet your current need so that you can easily pay it back as soon as you can.

alc simple application process

How long is the repayment period?

Short term loans can be as short as two weeks to three months, or up to 1 year. Often, borrowers pay back the money back in full within 90 days. If they receive their salary twice a month, they pay back a portion of the loan into bi-weekly payments. The lender can break it into 3 monthly payments, 6 monthly payments or more depending on your income. Australian Lending Centre offers flexible repayment terms.

What fees are included in the monthly repayments?

One of the more complicated short term loans facts concerns the fees. The repayment amount includes the interest rate and fees on top of the principal amount of the loan, divided into several payments. The repayment amount each period depends on the total cost of the loan including the amount you borrow.

It is important that you review the terms of the loan, especially the loan amounts, interests and any fees before you accept the offer. If there are any hidden fees or the interest rate is too high; consider declining the loan. It is important to enquire about the interest, and completely understand the loan agreement that you are entering before you sign.

Why do people prefer short term loans that regular loans?

Convenience is one of the top reasons why borrowers choose a short term loan over bank loans and other loan products. It has minimum documentary requirements and an easy income verification process. The review process is extremely quick. Short term loans are a convenient and easily accessible means of acquiring money fast.

Business loans typically require a business plan and extensive paperwork. With short term loans, you don’t have to show any proof or supporting paperwork as to where you are spending the money. Bad Credit Loans also offer Short Term Loans. If your credit history is bad due to a default, judgement or blackmarks you may still be eligible for a loan with no credit check. 

A short term loan is a reliable and flexible financial resource. In times of emergencies, a short term loan can prove to be your saving grace. Unlike traditional loans, you can access the money within 24 hours. Pay it off in just a few weeks or months. Short term loans don’t require collateral. If you have missed payments your assets are still safe.

How should I choose a lender?

There are multiple online lenders promising cheap interest rates, low fees and high amount of loan. But, don’t be fooled, some of them are either scams—asking for advanced payments before releasing the money, or those that charge hefty interests and fees, plus hidden costs that could probably put your deeper into debt.

Look for a credit provider with the following characteristics:

  1. It provides equal opportunity for affordable loans for people with good or bad credit. A stable lending company profits from offering quality products and reliable service, not because it squeezes money from its borrowers.
  2. The loan process is hassle-free. If you qualify, the lender would tell you right away and will make the money available in less than a week. It has a reliable screening system and credit evaluation criteria that allows it to screen creditworthy applicants as quickly as possible.
  3. It offers affordable interest rates, knowing that all borrowers—those with an excellent record or those with bad or no credit record at all must be given reasonably priced loan products to help them out in times of needs.

Now you know the short term loans facts, enquire with Australian Lending Centre to receive professional advice.

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Personal Loans Car Finance

How to Get A Classic Car Loan on a Budget

Collecting classic cars is one of the costliest hobbies around and it is a little trick to get a classical car loan. The price tag on such a baby is sure to cause a panic attack in many people. People found ways of getting a classic car loan despite having a normal budget that in certain circumstances would destroy their dreams of being at the wheel of a vintage beast. If you’re aiming at getting a classic loan but your budget is nothing out of the ordinary, you might find this guide very handy. Let’s take a look at the steps you have to take in order to get classic car loans on a tight budget.

Classic car loan Guidelines 

Consider private lenders 

Credit unions and banks are not a good source of car loans, especially when you juggle with a couple of loans already. And even if they offer you the car loan you require, it will probably have a huge interest rate and it will be secured on your house. Private lenders, on the other hand, have a wide variety of car loans that come with affordable interest rates. What’s more, many of them are willing to tailor repayment plans for their clients.

You can find a private lender pretty easily. Just surf the Internet for a while and you’ll definitely find one. Stay away from lenders who ask for deposits or any other sort of down payment.

Hire a broker for your classic car loan

One that specialises in car financing, to be more precise; if you can’t seem to find a good deal, no matter how hard you try, such a broker can do some research and get back to you with one.

Moreover, a car broker can easily save you some funding, as well as the hassle of doing all the research on your own. Brokers collaborate with a lot of lenders. Sometimes you don’t even have to pay the broker because he works on a commission. In other words, if he gets you the dream-deal, he’ll get a certain sum of money from the lender he hooked you up with. This is how you save money by hiring a car financing broker.

Leasing

Tons of classic car enthusiasts choose to lease vehicles and then purchase them. This works perfectly for those people who can’t afford to buy a classic car with a down payment or can’t find a lender that’s willing to hand them some dough. After leasing, you can purchase that vehicle outright and you’ll know for sure how efficient the car is and whether or not it’s as worth it as you thought it would be initially. This is the best alternative to car loans you have (and the safest, to be completely honest with you).

A HELOC 

A Home Equity Line of Credit could actually provide you with enough funds to purchase the classic car you’ve been dreaming about for so long. Of course, you have to own quite a large, modern house that has a lot of equity in it. As you might know, a HELOC is a loan that’s secured on your house, which serves as collateral. If you fail to repay the loan, the lender can place a lien on it and sell it. The HELOC, therefore, should be your last resort. The Home Equity Line of Credit usually serves other purposes, but it’s totally possible to get a car with the money that comes from it.

Secured or unsecured

You’ll have to determine if you want an unsecured loan or a secured one. Under a secured one, you’ll get more money and lower interest rates. Under unsecured car loans, you’ll get a more limited amount of money and higher interest rates. But then again, an unsecured loan doesn’t pose a threat to your assets. If you fail to repay it, the worst thing the lender can do is to sue you. Keep in mind that he can get the right to place a lien on your assets even in this circumstance.

Extra caution is therefore advised. You certainly don’t want to be living in a Cadillac, as cosy as it might be. Think twice or even thrice about this issue and make a decision you won’t live to regret after a while.

Concluding Remarks 

Classic car loans are a great way of finding the car you want to get but can’t afford to purchase outright. Australian Lending Centre can provide some really valuable advice when it comes to taking advantageous car loans, as well as the financial products themselves. Make an enquiry on the website and you’ll most definitely find a car loan that suits all your needs and comes with an affordable interest rate and a good repayment plan. We hope you’ll get to be at the wheel of that shiny, vintage car you’ve been dreaming about for years on end.

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Bad Credit Loans Business Loans Short Term Business Loans Short Term Loans Tax Debt Loans & Relief

Loans from Private Lenders With Bad Credit

Just a couple of years ago, having a bad credit score was an end-of-times scenario, although now you can get loans from private lenders. It simply meant that the unfortunate owner of said credit was unable to get another loan for years or for the rest of their life. Luckily, we’re past that now. The evolution of banking and lending has enabled a new wave of borrowing.

If you’ve ever had a low credit rating, applying for a loan with a private lender was most probably the first solution to get you out of your predicament that you thought of. If you’re reading this because you’re aiming for a loan, but your credit score leaves a great deal to be desired, we’ll teach you how to get the money you need.

Private Lenders & Bad Credit Loans 

Shop Around for loans from private lenders

You should not settle for the first lender you find during your search because you will be missing out on more advantageous offers for sure. Compare a few offers and dissect them. If you can’t do this on your own, we recommend you hire a financial advisor that specialises in Loans for People with Bad Credit.

Make Your Case 

Even if private lenders give people with bad credit a chance, they’ll have to know what happened. Also, people who tend to put the blame on their banks but seem to be completely oblivious that it’s their fault will make private lenders a lot more reluctant to help them out. Unlike a bank, a lender won’t show you the door as fast as he sees your credit score. Plus, he’ll listen to your story. Perhaps you had a medical emergency and you couldn’t keep up with the monthly payments and your credit score dropped – in this case, a private lender will know that you’re not a bad payer.

Consider a P2P Platform 

P2P stands for “Peer-2-Peer”. This is basically a way of lending that pairs up people and private lenders. Let’s assume that your credit score is in a certain figure and your financial needs, too, are in a certain amount. When you go to a P2P platform (a fancier term for a P2P website, really), the professionals there will consult the lenders they collaborate with and will get back to you with the best deal, i.e. the one that’s in line with your requirements.

Opt for Secured loans from private lenders 

As risky as it is, you should be willing to take this step. The thing is, you can definitely get a loan with bad credit, but the lender won’t be very keen on giving you a low interest rate.

A secured loan is attached to assets, such as your house or car. If you fail to pay, the lender can place a lien on the asset that the loan is secured to. On the bright side, if you make your payments appropriately and things don’t go awry, you’ll get a much lower rate than you would with an unsecured loan. And what’s more, it will be in a much larger amount.

Avoid loans from private lenders that Are Too Eager to Help

Private lenders will always ask for proof that one’s income is sufficient to allow him to borrow money and live however decently for the rest of the month. If a lender doesn’t ask you for this kind of proof, an alarm should go off in your mind. Serious lenders that are actually genuine and work in accordance with the law, will never give you money unless your income allows it.

You might think “Oh boy! I’m the luckiest guy alive!” but you really aren’t. You might end up in even more debt and wreck your credit score to such an extent that it will be impossible for you to ever borrow money again.

Concluding Remarks 

Private lenders are evidently of great help to people who can’t get loans from traditional lenders like banks and credit unions. Even though it’s fairly easy to get a loan from an online lender, you shouldn’t lose your wits. Approach things with a clear mind and a thorough understanding of how loans work in general.

If you’re having trouble with finding a lender you can place your trust into, please visit Australian Lending Centre and make an inquiry concerning the type of loan you’d like to apply for. You can rest assured that you’ll get what you’re looking for plus some valuable, professional advice on how to improve your credit score.

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Financial Planning

How To Create A Retirement Spending Plan

Learn how debtor finance can help you find retirement money and build its sources. A strong retirement spending plan can help you to enjoy the life you have worked so hard to build.

If you want to create a retirement spending plan, make sure that your expenses are lower than your income. But, if you have troubles in making ends meet, how will you do it? Good thing debtor refinance can help.

Retirement is something that you buy, that’s a fact, whether you agree with it or not. It’s a plan on how you plan to spend your retirement income. But how do you intend to spend money that does not exist?

Here are simple yet effective tricks to create a retirement spending plan when you have limited resources:

Add up your income

Everything that adds up to your wealth is considered an asset, including consistent income, but not those earnings that are not definite. For example, while you can expect tips as a waiter on a daily basis, you cannot count on them so instead of writing down the total tips you received in a month, just get the average tips. Here are common sources of income that you can include in the list:

  • average tips
  • alimony payments
  • bonuses
  • investment income
  • wages

Track down your expenses

Okay, you probably heard about budgeting a lot, and maybe you’re already fed up with the tips that budgeting is crucial to retirement savings. But, it’s a hard reality that we can’t do anything about.Include everything you spend for. When you add up monthly expenses make sure to include your average food bills, transportation, clothing, entertainment and utility bills. It is also important to take in your credit card payments, loan repayments and if you have a mortgage and auto loan payments, write them down.

Calculate the average expenses you incur each month

Even those things that you seldom buy, such as:

Household items, minor house repairs and clothes

For example, if you buy clothes every three months, get the average cost of the clothes and allot them in your monthly budget.

Don’t forget the add-ons

If you’re paying for self-employment taxes, business taxes and insurance, put them in the expenses list. You can also collect receipts, get a copy of your credit report and track how you spend your cash and borrowed money each month.

Review your debt and credit card statements

If possible, make it a habit to review your debit card records as well as your checking accounts. A lot of people have been surprised how much their money ‘vanishes’ each month, but they’re more stunned by how they spend it.

‘Pay’ your savings account

You only have two options, consider your savings as a top expense you can’t live without, or a debt that you have to pay for a very high interest. You’ll thank yourself later, especially when you’re too old to work.

Here are some barriers to creating a retirement spending plan:

Retirement is not something that people really look forward to

A lot of people have troubles saving for their retirement income. It’s because many people are not really looking forward to old age – the days and years where they will no longer feel in control of their finances. Who is excited to stay in a retirement home? But, if you change your perspective and consider retirement as a adventure, a new beginning that can give your life a new meaning, then it will be an exciting event that you will work hard for.

With a retirement spending plan here’s never ‘enough’ money to save

You have goals and you really want to put away the money for them. But, you have lots of expenses, despite a stiff budget. If that’s the case, why don’t you set up an automatic savings plan? This way, your money will be automatically withdrawn from your checking account and deposited in your retirement plan, savings account or investment accounts. While you can deposit the retirement savings yourself, automation will ensure that you won’t miss doing so. If possible, put all your bonuses, raises and tips to your savings accounts. Make it a habit to reduce your expenses and set aside money for the future.

You can also revisit your retirement spending plan once and a while to adjust to income changes and other conditions that may require additional expenses such as: illness, job loss and other money-related concerns.

Take advantage of the power of compounding interest

If you want to make your small investments large enough to cover your retirement expenses, it’s time to consider investments with compounding interest.

Any amount of money you put into real estate, bonds, stocks, cash savings, or a mixture of these financial portfolio, will work for you, given enough time. The interest on the money you invested and the accumulated interests will eventually increase the size of your savings account. The longer you invest, the bigger the pool of money for your retirement.

Do you need help in obtaining debtor finance so you can save for retirement? Talk to our trustworthy loan experts at Australian Lending Centre. Enquire now!

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Financial Planning

Tips to Manage Financial Challenges

If you are in a difficult situation facing financial challenges, learning how to properly use loans, for bad credit applicants, can help.

Do you have a steady source of income which covers not only your needs but also your wants as well? If you’re one of the thousands of Australians who want secure finances but are also dealing with financial issues, you may be wondering how you can achieve that reality.

What Are Your Financial Challenges?

Like many individuals in serious debt, you are probably worried about trying to pay for your daily living expenses and outstanding debts, while wishing to buy a home, a car and probably take a vacation. If so, don’t ever think that you’re alone in this aspect. There are also many struggling parents who need to save for your children’s education while paying off debts and adults with elderly parents to support. And, things get worse when you are going through a divorce, dealing with a death in your family or probably looking for a substitute job for the one you recently lost.

The truth is that there are many events in life that test not only our ability to cope financially but to think positively and overcome these trials with a smile.

Use your financing options to manage these financial challenges

Learn how to take control of your finances, boost your borrowing power and secure a better financial life with the following tips:

Write down each of your goals

Are you really determined to pay off all your high-interest loans? Or do you just need to have a better credit rating so you can borrow even more? Sometimes, we don’t actually know what we want. We just keep on looking for solutions to our immediate problems without looking into their root cause.

For example, if you have $5,000 worth of debts, both in consumer credits and loans, do you trace back to the causes of those purchases? Or, do you simply skip the reflection aspect and look for better financing that could lower your interests so you can have more money to spend on your needs and wants?

While there is nothing wrong in looking for better deals, such as low-interest and easy to pay bad credit loans. Finding the root of the problem in your finances can help you make better decisions with regard to budgeting and balancing your sources of revenue.

Swap the present wants for future needs

Are you spending a few hundred dollars on things you can live without—such as a gym membership, magazine subscription and a trip to your favourite coffee shop? If so, think of how you could use the money to build wealth, like starting a retirement plan to secure your finances in later years.

The sooner you start saving for retirement, the more financially secure you can be when you finally stop working. These contributions are typically tax-deductible, so aside from getting a tax credit for starting a retirement plan, you can also grow your money faster because savings grow faster in a retirement plan as a result of tax-free compounding.  In the end, even small contributions can make a significant difference over time.

Diversify your investments

Do you know how to protect yourself against ignorance? Warren Buffet says that it is through ‘diversification’. Since you’re not really sure if an investment will appreciate over time, you should diversify your portfolio to ensure that your exposure to any individual asset is limited.

What are the asset classes that you currently hold?

Are you involved in alternative investments like real estate, or are you simply invested in stocks or bonds?

Instead of chasing performance for a single investment class why don’t you add a good mix of real estate, cash, bonds and stocks in your egg basket? This way, you can protect your financial portfolio from wreaking havoc when the market declines. If you put more than 15% of your money into a company’s stock, you may be heading for disaster. While you may not be thinking of the worst-case scenario, preparing for these things can help you when you lose your job and your other sources of income. Losing your investments as well, all at once is not an easy crash to bounce from.

Grow your wealth

One of the most important benefits of bad credit loans is that you can use it for wealth maximisation. Create a long-term investment strategy that requires adjustment in your personal budgeting and your appetite for risk. This helps to ensure that no major market glitch will pull your finances down. You never know what will happen tomorrow, but one thing is for sure… life goes on and with the right mindset and professional help, you can enjoy a comfortable and financially stable lifestyle.

Contact the Australian Lending Centre today and receive financial advice from our specialist loans team.

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Personal Loans Business Loans Financial Planning Short Term Loans

Top Methods of Getting Personal Loans from Private Lenders

Every individual or family may need personal loans from time to time. It may be for various reasons: the car broke down, the house needs some renovations, or their daughter is planning to get married in Spring. Regardless of the reason, money is needed as fast as possible.

The problem is that options such as credit card debt or bank loans aren’t always available. Once more, reasons may vary. It may be because you built up too much bad credit or you have no collateral to attach to the loan.

In these cases, a personal loan from a private lender may look like a very good option. They are fast, easy to access, and may overall improve your financial situation. And this article will tell you the top methods of getting a personal loan from a private lender.

#1: Figure Out If a Private Personal Loan is Your Best Option

Before going for personal loans, you need to learn the difference between public lenders and private ones. For one, private lenders aren’t banks, credit unions or financial institutions. They are simply individuals (or companies) with no attachments to a certain institution that lends money to other people. Those who receive a loan from a private lender usually have a certain relationship based on trust.

A personal loan taken from a private lender is different from other types of private loans, in the sense that you don’t need to specify why you need a loan. On the other hand, public lenders will categorise the loan based on your needs: student loans, car loans, mortgage loans, etc.

Keep in mind that personal loans are very different from payday loans. A payday loan will have to be paid very fast – usually within the first two weeks – and they carry a very high interest rate. A private personal loan will have a longer time frame and a lower interest rate – but will still be higher than the one offered by a bank.

There are also risks to personal loans from private lenders, such as shorter payback periods or costly fees. Most will require collateral to secure the loan. If by any chance, you find yourself unable to pay the loan, the lender will be entitled to sell that property to get his money back.

#2: Consider the Alternatives

The most important part of getting a personal loan from a private lender is knowing that there are other options aside from them. If the return of your purchase makes your loan worthwhile, then getting personal loans from a private lender might not be such a bad idea.

Still, before going for a personal loan, you may want to check whether you can use cash to fund that purchase or not (or at least some of it). This may reduce the costs in interest, resulting in a much smaller loan.

You may also want to evaluate all your alternatives. Consider opening a line of credit, or getting a public student loan. If the interest rate is more beneficial for you, there’s no reason for you to take out personal loans. Only do so once you’ve burned out all the other options and know for sure this is your best opportunity.

#3: Access Your Options for Personal Loans

When opting for personal loans from a private lender, you need to do your research on the options that they provide. You may want to focus on lenders that are accredited or have been approved by the government.

You can go for individual lenders or companies. Browse through your options, and see which one is a better way to start. After learning of all the options, you may settle on the one you believe is more convenient for you.

You should also try contacting your family, friends, or business acquaintances. They may be able to offer you a personal loan quickly, with a smaller interest rate. Still, you may want to make sure that there is also a written agreement next to your verbal one. And you should keep in mind that failure to repay this loan can result in damaging your relationship with your lender.

Once you have explored all of your options, collect all the documentation that you need. You need to appear as creditworthy as you can. Show your income sources, your savings, or any physical assets that you use to secure your debt.

Final Thoughts

Personal loans from private lenders can be tricky to deal with – but they are also convenient if bank loans are not an option for you. All you need to do is research your options and come up with a convenient provider. Contact us for a free assessment that has no effect on your credit file and get one step closer to a suitable personal loan.