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Short Term Loans

5 Advantages Of Short-Term Loans

Taking out a loan can help you out in all different areas of life. From funding a new car, to taking out a personal loan help with that next holiday. When you choose to take out a loan, considering the length of the loan is just as important as the amount of money you plan to take out and the interest rate.

Short-term loans can give you a quick cash injection when you need it, to tide you over if an expected payment comes up. But there are plenty of other reasons you might consider taking out a short-term loan. Here are some of the advantages of short-term loans.

What Is A Short-Term Loan?

A short-term loan usually refers to a loan that has been taken out and is repaid with interest within the year. Each loan will be different and have its own set repayment terms. There are many advantages of short-term loans, giving you access to the cash you need as fast as possible.

short term car loan

5 Advantages Of Short-Term Loans

Short-term loans are just that. They are designed to be paid back quickly, so it means you need the cash coming into to meet those repayments. They are often used when an emergency pops up that you hadn’t planned for. For example, if you find yourself in a car accident and needing to pay for repairs. Or perhaps if you fall ill and have a big hospital bill. Here are just a few advantages of short-term loans:

1. Fast approval:

Often when you are looking to take out a short-term loan it’s to cover an emergency. That means that you need the cash as fast as possible, without the long-drawn-out process that can come with the lengthier loans. Most short-term loans can be applied for online, and once approved, you can have the money in your account that very same day, or the next business day. The approval process is nice and short, with money deposited directly into your account.

2. Improve credit rating:

Taking out a short-term loan can actually help you improve your credit score. As long as you have the means to pay it back, it will reflect well on your credit score. It will show you have met the repayments and paid back the loan on time, noting you as a trustworthy borrower. It could be just the boost your credit score needs.

short term loan improve credit score

2. Less interest:

It stands to reason that the longer you borrow the money for, the more interest you pay. With a short-term loan, you are borrowing the money for a shorter space of time, which means the interest won’t be as much as longer loans. If the interest rate is higher, you will save money by paying back the loan faster.

3. No assets needed:

This is just one of the advantages of short-term loans. As the amount you are borrowing is less than longer loans, lenders often don’t require you to secure the loan with an asset. The smaller cash amount takes away the risk of the loan, which means there is no extra pressure on you when borrowing.

flexible short term loans

5. Flexibility:

There are a huge variety of different lenders who all offer short-term loans. Many of these are tailored to your specific needs, allowing you to choose a loan that suits your individual circumstances. You can choose from a bank or a non-bank lender and find the right lender for you. The short nature of the loan means you don’t have to make a huge commitment. It’s up to you to negotiate the length of the loan and what works for your.

What If I Have Bad Credit?

One of the best advantages of short-term loans is that they are often also available to those with bad credit. This means your credit history won’t hold you back if you need the funds. Most lenders will simply require proof of your income, along with your spending history, simply to determine whether or not you have the means to pay back the loan.

Many lenders don’t even check your credit file when offering you the loan. By choosing to go with a non-traditional lender such as the Australian Lending Centre, your individual circumstances will be taken into account when you apply for a short-term loan. This gives you the best opportunity to secure one.

A short-term loan can get you back on track financially, giving you the cash boost you need to get back in control of your finances.

Advantages Of Short-Term Loans

Now you understand the advantages of short-term loans, you may be looking at taking one out. The Australian Lending Centre is committed to finding the right loan for your situation. We can help you explore different types of short-term loans and use their expert knowledge to get you the best deal.

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News Business Loans Financial Planning Short Term Business Loans Short Term Loans

Emergency Business Loans – Risk vs Reward

As we find ourselves in the middle of a global health crisis brought on by COVID-19, there comes a point where protecting physical health comes at the expense of our financial health. Employees at risk of carrying the virus are being forced to stay home. Spending habits have completely changed. The stock market has crashed. The list goes on… But what does this mean for your business? Cashflow is likely to be stretched within any company at this time, particularly within business start-ups. If you don’t have much money in the reserves then how can you keep your business afloat if the worst does happen? Emergency Business Loans can provide a fast source of income for when things don’t go to plan. This sounds great, but what are the risks?

What Are Emergency Business Loans?

Emergency business loans can provide a fast source of income to give your business the cash injection it needs during tough times. They are usually granted quickly and you don’t always need a great credit score in order to be approved. But they do often come at a cost, including higher interest rates than a standard loan. Emergency loans come in many forms. These include unsecured personal loans, credit card cash advance loans, payday loans and even pawnshop loans.

Emergency personal loans

The great thing about emergency business loans is that they can be processed extremely fast. You can expect to receive an emergency business loan within days of approval. Depending upon your credit score, you might qualify for an unsecured personal loan. This means that the loan will not be secured against any assets, such as property or a motor vehicle. Personal loans usually have fixed interest rates and can be paid back over a set period of time. Before taking out an emergency personal loan, you should first ensure that you will have the funds available to pay it back, otherwise, you will wind up in a worst financial position than you started in, along with your credit history taking a battering.

Emergency cash advance loans

It is possible to use the remaining balance on a credit card to take out as a short-term loan. This will mean a higher interest rate than normal and this rate will also be relative to how much you take out. So be wary of how much you do borrow via a cash advance loan.

Emergency payday loans

Unless you’re expecting an influx in cash in the very near future but are in a desperate and immediate need for cash to tie you over, for the time being, a payday loan is a risky option. APR’s can be as high as 400% and need repaying in full, rather than in instalments. This should be a last resort option. It’s easy to become trapped in an endless cycle of re-borrowing in order to pay the last payday loan off.

Emergency pawn loan

Another last-ditch option here. You can have personal items valued by a pawnbroker, of which they will use as security in order to back the loan. And if you find yourself unable to repay the loan, your pawned item will be listed for sale.

Are There Alternatives to Emergency Business Loans?

Your personal credit score will not be affected by your business loans. Nonetheless, you still need to submit your personal credit rating. You also need to prove your revenue for a year or two. Banks have tightened their lending criteria in recent times and often require financial history or in-depth account records to assess the capacity of the business to handle their financial obligations. This means that applying for emergency business loans through a bank can be a tedious, time-consuming process. For this reason, if you need funds fast, then banks aren’t a great option.

Emergency business loans may come at a higher cost for borrowers with no proof of income and a poor credit rating. When this happens, it is advisable to search for other options. Here are two alternatives which could help you establish or maintain your business especially when there is an urgent need for funds:

Line of Credit

Do you have a business account with a bank, but don’t qualify for its traditional business loan? You can apply for a line of credit instead. A line of credit enables you to access extra money whenever you need it. This is because they don’t have a fixed term, unlike personal loans. So, you can use it without applying for another loan. You also only pay interest on the amount you have borrowed, not your entire credit limit. However, usually, interest rates are usually variable with lines of credit, meaning that they can fluctuate up or down. You also can’t expect a quick turnaround with a line of credit because it may take weeks before it gets approved. Yet, it can still be a very useful resource for future business emergencies.

Specialised Lenders

Specialised lenders like Australian Lending Centre cater to businesses that do not qualify for traditional emergency business loans. ALC understands that business must continue as usual despite any financial drawbacks.

Considerations Before Taking Out an Emergency Business Loan

If you want your business to keep operating, you need the right funding to pull you out of problematic financial situations. There are also some management decisions that require immediate cash to sustain growth and avoid serious fallbacks.

What are the things to keep in mind when applying for emergency business loans?

Determine the business’s needs and the amount you need to meet it

It is important to have a clear idea of what you really need before you sign the loan application form. It is very easy to lose track of what you intended to do from the start if you don’t have a clear understanding of your needs. Remember that the amount must not be greatly higher than your actual needs. When running a business, it’s important to remember that the costs must be lower than the profit. Otherwise, you will end up spending more than what you actually earned and your business will suffer.

Review your credit history

Have you missed or been late on some of your previous debt repayments? If so, why did it happen? Before you apply for an additional loan, make sure that you have a good budget in place to avoid repeating the same mistake.

Specialised lenders may offer bad credit business loans, meaning they can still approve your loan application despite negative credit history. But reviewing your credit file is good to practise. You may find that there are defaults or judgements which have been incorrectly listed. So, before you send your business loan application, make sure that your credit file is accurate and up to date. Companies such as Clean Credit are able to quickly and easily assess your credit file and repair it if required.

Study your financing options

Specialised lenders may offer better terms than traditional banks, especially if you don’t have a stellar credit rating. Review the company and its loan products, and compare them with other financing institutes. Check if the financing procedures are safe and secure and if you will be able to save more money in the process. It is also important to talk with the loan officer and ask about the details of the loan, including its comprehensive terms and conditions.

Always consider your business plan when applying for a loan – make sure that the amount you borrow and the financing agreement will support your plans. Use every cent you get to support your goals and to build a solid credit history so that you can quickly access business loans with better rates in the near future.

Emergency business loans from specialised lenders are usually approved between 24 hours and 7 days – so it is advised to create a budget before you send in your loan application. Not only will it ensure that you will use the money exactly as you planned, but it will also keep you from defaulting on your loan repayments.

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Personal Loans Short Term Loans

How To Improve Your Lifestyle with Quick Loans

There are so many different ways you can improve your lifestyle with quick loans, the problem is, many people don’t know what a quick loan is and exactly how one can help you out. Whether you are trying to find your way out of debt or looking for a bit of financial help over a certain period (such as the holidays) a quick loan can be the perfect solution.

What is Quick Loan?

The term ‘loan’ can be off-putting. It can conjure up images of debt and financial stress, and many people are unable to see the benefits of it. Not all loans are created equal, and taking out a loan can sometimes help you stay out of financial trouble and get you back on your feet once again.

So what are quick loans? They are personal loans that can be funded in a short space of time. Approval and funding can both occur within days of your application, which means you can put the money to use straight away without waiting for funds to clear.

There are so many different ways to improve your lifestyle with quick loans, here are just a few.

How to Improve Your Lifestyle with Quick Loans

Pay Off A Holiday

No more scouring through Trivago for the best deals… An injection of cash can help you to book the holiday you deserve.

After relaxing and forgetting all of your worries, the last thing you want to face, on top of the holiday blues, is financial stress. You’ve been off work for a couple of weeks, enjoying your trip and now you are back home with no pay coming through any time soon. A quick loan is a perfect way to get you out of debt fast.

Get You From Paycheque to Paycheque

It’s no secret that some months it can be hard to stretch your money to the next paycheque and you find yourself living off tinned baked beans just to make it through. Next time this happens to you, consider taking out a quick loan. It will tide you over until that next paycheque, and offer you something nutritious to eat at the same time! It is the perfect way you can improve your lifestyle with quick loans.

Pay For Gifts

Pay for gifts
This time of year can place a huge financial strain on many families, but the fact is, it doesn’t have to.

The holiday season is a busy time of the year. From Christmas parties to presents for all the relatives, you can find your money is flying out the window faster than you can earn it. Don’t worry, you aren’t alone.

Get Out Of Debt

Unfortunately, debt is something that tends to spiral out of your control. Once you are in debt, unless you can sort it out quickly, it can all too often get the better of you. The bills pile up, one of top of each other, and before you know it, you are sinking.

A quick loan is a perfect way to offer some light financial relief while you get back on your feet again. It can be just the boost you need. The competitive interest on quick loans can help you pay off your overdue bills and give you a bit of breathing space when it comes to paying off the next one. Just this simple step-up can often be enough to help you take back control of your finances.

Unexpected Costs

Life is unpredictable and at times you can find unexpected costs creeping their way in. Sometimes, these costs can add up and you find yourself pushed financially. Whether you were in a car accident and need to pay for repairs, or have ended up sick and in hospital, you can improve your lifestyle with quick loans.

Taking out a quick loan can help you get back on your feet without spiralling into further debt along the way.

These are just some of the ways you can improve your lifestyle with quick loans. The fact is if you find yourself in the situation that you need a bit of cash to tide you over or help you get a leg up, consider taking out a quick loan. The team at Australian Lending Centre can help you out, enquire today!

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Short Term Loans

5 Benefits Of Short Term Loans

Taking a loan isn’t proof that you aren’t administrating your finances well or that you aren’t earning enough money to support your family. A loan is a great method that offers you a way out of a problem! In this article, we discuss the benefits of short term loans.

A short-term loan solves the issue immediately and without all the fuss that comes with larger loans. If you need the money to pay for medical expenses, house reparations or an unplanned trip visit to your family, that’s what short term loans are all about!

5 benefits of getting short term loans

They are manageable!

You can take a $500 loan and that’s it! Small loans were made to fix urgent matters, so take advantage of them! Short term loans won’t keep you up at night thinking how you’re going to manage interest rates and any other additional fees.

Unlike large loans that pose problems and can disrupt your finances, a small loan will help you out. Not being able to make payments on time and worrying about a bad credit score won’t be an issue when you deal with such short-term loans.

Online application

This is one of the biggest benefits of short-term loans. You can fill out a form on the Internet and wait for the money. Skip the road to the bank office and staying in line for hours. This type of loan comes with an online application that will only take you a few minutes of your time while doing it in the comfort of your own home.

Access the funding fast

Skipping the fuss that comes with larger loans also means getting the money faster! This is actually the exact purpose of short-term loans. They have been created for urgent matters that can’t be planned ahead. In just a couple of hours, you can receive the money and sort out your financial difficulties! It’s that simple!

You can customise your payment plan

You can borrow only the money you need, considering that a short-term loan doesn’t come with a fixed sum of money. If you think you’ll be able to pay it back in 3 months, settle a 3-month payment plan. If a 5-month plan sounds better, go with that option. A customisable payment plan allows you to get back on your feet without worrying that you won’t be able to repay the sum in the given period. You choose what’s best for you.

Dealing with a short term loan is easier

Taking a loan isn’t always a burden, especially if you borrow a small amount. Repaying a small loan in a couple of months can be entirely possible for your budget. So, you’ll be able to get out of your financial difficulty, and you won’t have any debts.

Short term loans are a great option to quickly get you back on track- that is of course if you don’t have significant debt. Of course with any loan it is important to take precaution. If you have any questions about short terms loans, read 5 questions to ask when applying for short term loans.

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Financial Planning

Financial Planning For New Families

Making the decision to start a family is both exciting and daunting. There’s so much to think about in terms of caring for a whole new little person in your lives, as well as setting yourselves up financially to ensure you can take the time off work you need and meet all the expenses that come with bringing a baby into your family.

Many couples put off starting a family until they are financially stable. But this idea of being financially comfortable is different for everyone, and for some, it would mean putting off a family for years and years, which isn’t always ideal. Here are some ways you can plan for a new baby and see whether you are ready to take the leap.

What Is Family Financial Planning?

  • The idea is simple. It’s about taking a look at where you stand financially, and seeing how things might change once you have a baby together. Here are some things to look at:
  • How much time you or your partner might take off work once the baby is here.
  • What your joint household income will drop to with this time off.
  • Cost of big-ticket items for the baby, such as car seat, pram, etc.
  • Cost of daycare once you do go back to work and how this affects your bring home pay.
  • Cost of weekly expenses, such as nappies, wipes, formula, that need to be factored into the new family budget.
  • What sort of pregnancy care you are looking at. Are you wanting to go private? Consider the cost of ultrasounds, obstetricians, etc.

How To Financially Prepare For Starting A Family

Here are some steps you can take to ensure you are in the best financial position possible when it comes to welcoming a new baby into your home:

Build Up Savings

This is often easier said than done. Simply start putting away a little bit each week into savings, no matter how small that amount is. You have to start somewhere. Over time, you may be able to increase this amount, but if not, at least you are putting something away.

Don’t Overspend

It is so easy to go just a little crazy with all the baby products out there, but it’s important to realise you don’t need the most expensive product each and every time. In fact, it’s worth jumping on Facebook marketplace and having a look at second-hand items on there. Lots of baby items only get used a handful of times and are in great condition to purchase second hand. You can save so much money on them as well.

Budget

Take a look at where you are right now and how much this might change when you bring a baby into the family. Factor in all these potential costs and look at how you might be able to make ends meet. Are there areas you can cut down on? Can you start cutting down on them before the baby comes?

Research Your Entitlements

Check out what money you may be entitled to either from your workplace, your partner’s workplace, or the Government. Many people aren’t aware of the benefits offered, such as maternity leave from both work and the government, paternity leave and family tax benefits that you may be eligible for. Look into all of these before you start your family, so you know what you can apply for, can do it straight away and factor this into your budgeting.

Prioritise Your Debts

If you have any outstanding debts you are in the process of paying back, prioritise these and reduce them as much as possible before the arrival of a new baby. In fact, preparing for a new baby is the perfect time to take a good look at all your finances and see that you are getting the best deal possible. Here are areas to consider:

  • Are you getting a good deal on your credit cards? Could you shop around and find better?
  • Are you getting the best deal on your phone contract? Do you research and see if there are better plans more suited to your needs?
  • Look into your insurances and check that you have the level cover you need.

Remember That Money Isn’t Everything

Welcoming a new addition into your family is an exciting time, so don’t let your finances overwhelm you. While there are plenty of things you can do to make sure you are in the best place financially, don’t forget to enjoy the time and every minute that comes with it. You will blink, and your kids will be moving out of home and starting families of their own!

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Short Term Loans

The Ultimate Guide To Short Term, No Credit Check Loans

Taking out a loan can be a very long process. It is dependent on a number of factors, including what type of loan you need, your credit history, and the institution you choose to take the loan with. But sometimes, we need a quick cash injection to give our personal or business life that little boost it needs, and we don’t want to be waiting around for the long, drawn-out process of taking out a loan and miss out on opportunities in the process. This is where a short term no credit check loans can be very helpful.

What Is A Short Term Loan?

As the name suggests, these are loans that are taken out in the short term. Normally, they are expected to be paid back within the year. These type of loans are commonly taken out by business start-ups, who don’t yet qualify for a credit line from the bank, yet need a quick cash injection to get them up and running.

Types Of Short Term Loans

There are different types of short term loans that can be used for a number of different purposes depending on your individual circumstances.

Merchant Cash Advances

This type of loan is actually a cash advance, but it works in the same way as a short term loan. You can borrow a certain amount from the lender and then make the payments back to them by allowing them access to your credit facility. A certain percentage of each business transaction you make is taken back until you pay back your loan.

Line Of Credit

This is similar to using a business credit card. A limit is set, and you can use that credit as needed. You then have to make monthly instalment payments against the amount you have borrowed, so these will vary from month to month.

Payday Loans

These loans are usually given for emergency situations and can be fairly easy to obtain. Unlike the other loans we have looked at, they generally have to be paid back in one lump sum on your next payday.

Online Loans

Once again, as the name suggests these loans are carried out online. You can access a short term loan with a number of finance providers, with everything from application to approval done online with money wired into your account instantly.

Why Take Out A Short Term Loan?

There are a number of different reasons you may want to take out a short term loan.

Consider the following scenarios:

You have just started up a new business and need an initial cash injection to hire some employees to get things up and running. You have approached a bank, but they aren’t interested in helping you as you have no credit history and are considered a risk. If you’re looking to get back on your feet, the consider a short term loan. Short term loans can provide the foundation for taking out a long term loan down the track.

You need some money to fix your car after you have been in an accident. You need that money fast, as you rely on your car every day for work. Instead of waiting for approval from the bank, you can go down the route of a short term loan, get the cash as soon as you need it and get back on the road faster.

There are also plenty of benefits that come with short term loans

Less Interest

With a short term loan, you can expect to pay less interest. Pay them off quickly as the time frame is usually shorter. This doesn’t allow time for interest to build.

Instant Money

Given the fact that there is a lot less risk for lenders when it comes to short term loans, the process is a lot shorter and you can have the money with you even faster.

Easier To Get

Credit scores don’t factor in when it comes to obtaining a short term loan, which makes these loans even easier to get. The requirements are lower, which make them a lifesaver for many businesses.

Benefits Of Short-Term No Credit Check Loans?

Firstly, credit checks take time, which is one of the reasons the loan process can be fairly drawn out. Also, if you have a bad credit history, there is also the likelihood you won’t be approved for a loan with many financial institutions. Getting short term loans with no credit check sidesteps this and allows you to get the money you need when you need it, and without the hassle.

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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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Short Term Business Loans

Are Short Term Loans a Good Option for Small Business Owners?

It goes without saying that a business is doomed to go under without proper funding. Small companies are more prone to dying out, at least in the beginning, if funding isn’t injected into them. If your small business is however growing, you may also need funding to help expand your operations.

In both cases, a short term business loan may be your saving grace.

What are short term business loans?

A short term business loan is a fast and flexible loan type, that can help improve your business cash flow. Short term business loans are typically quick to access and require minimal documentation. They are generally used for the following reasons;

Cover a business initial start-up costs

  • Pay staff
  • Purchase inventory or equipment
  • Pay for emergency situations
  • Purchase stock
  • Pay BAS or Tax Payments
  • Working Capital
  • Marketing or Advertising.

The benefits of short term business loans

Quick funding

Short term loans provide immediate aid to business owners that need it. The process is quite short, and the requirements are easy to fulfill. To give you a hint of how quick the funding is, the approval period of a short term loan can be 24 hours.

That, of course, does not apply to a large loan. Bear in mind that you can use this money to seize some opportunities; they’re not only for worst-case scenarios (going bankrupt or risking closure, for instance).

They are given to people with bad credit score

Not only are these loans given in a matter of hours (depending on the policy of the lender, really), but they are handed out to people who would be rejected by banks on account of their low credit score.

In this light, short term loans are life-savers. Given that they are short-term, creditors know that you will be able to pay the loan back, even if your credit score is a little low.

Short term business loans can be given for a variety of purposes

You can use the money from a short term loan for any business-related expense. This may include; an investment into a product or service that will better the business such as a marketing campaign. No matter what you need, you’re set with a short term loan.

Drawbacks of Short Term Business Loans

Smaller sums of money

Short term business loans may not allow you to borrow large sums of money. For example, If you need to borrow $50,000 you may not be eligible for a short term business loan. Bigger sums of money are not given out as a short term loan because of the nature of the loan, which has to be repaid in less than one year.

High-interest rates

Many lenders know that, once you’re looking for short term loans, you’re probably in dire straits. Unfortunately, this generally translates to higher interest rates. It is therefore important to do your research and make sure that you find the right lender. This way, you can at least make sure you’ll be going with the one that will take the least from you.

Other strings attached

Apart from the high-interest rates, you may be required to pay some other additional fees imposed by the lender (depending on each lender).

Risk of losing the collateral

Short term loans are usually secured by collateral, even though they’re basically to be repaid within a few months. Should you default, you could lose your car or whatever it is you secured the loan on.

People seem to think that secured loans are so much better than their unsecured peers. If you are 100% certain that you can repay the loan, consider a secured loan.  If possible, always get short terms loans without any collateral. There’s no way you will default on a loan like this. It’s almost impossible, given that the sum of money you’ve borrowed is quite small.

Loans with short term make sense for small business, but they also have some unpleasant downsides. If you have a financial advisor in your company, it would be a good idea for you to consult with him/her before making a decision. If you don’t have an advisor, you can speak to one of our expert loan consultants at Australian Lending Centre.

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Short Term Loans

Cash Advance With Payday Loans

Cash advance payday loans may look like a great option, but there is a downside. Your bills may be piling up, you may need to pay your car rego, fix a car, or pay for a medical bill, but you haven’t been paid yet? A payday loan seems like a simple solution.

If you are in dire need of quick cash, there are options available. One such option is cash advance with payday loans.

What are Cash advance payday loans?

Cash advance payday loans are high-cost short term loans that offer quick and convenient access to cash. If you are in need of cash to pay for upcoming bills; then a cash advance can help you get sorted fast.

Whilst some people may see payday loans as their quick fix to financial stability, there are however opposing views. Here are some of the advantages and disadvantages associated with cash advance, payday loans.  Take a good look at these and weigh if a payday loan is good or bad for your financial health.

Advantages of cash advance payday loans

  • Fast approval
  • Loans are available even for a high-risk borrower
  • Pay for emergency situations fast. Did your car break down? Is there an emergency field trip in your child’s school? Or, are you taking advantage of the big discount on equipment for your business? Use it any way you like it, cash advance payday loans can save the day.

As long as you can assure the lender that you can repay, you can get the money you need fast and you don’t have to worry about receiving notices that your utilities will be cut off because you missed the payment.

Disadvantages of payday loans

Payday loans usually come with very high-interest rates. These rates can come in the form of a flat fee or a certain percentage of the cash advance payday loans. For example, a cash advance lender may charge 20% per $100 borrowed. This means that the borrower has to pay $20 in interest on a monthly basis. If you missed a payment on the first month, the interest will accumulate and you’ll be paying more than your original debt as the time goes on and the debt remains unpaid. 20% may not be a big deal if you will pay it outright when you receive your pay for the month. But, if you took a loan 7 days before your payday, you will be paying a large fee for a 7-day loan.

If you’re borrowing against your salary, where will you get money to pay for your expenses before the next payday? It can lead to another debt until you can’t get out of it anymore.

Is cash advance loan a good idea?

A person has too much debt when he owes more than what he can afford to pay, simply because his income is lower than his debt, and his liabilities are greater than his assets. If you’re struggling with debt, another debt can either help you get out of it, or drag you deeper into debt. It is a choice you have to make, especially in the way you will use your money.

Better alternative to payday loans

When you need money for emergency use, you can turn to Australian Lending Centre for short term loans, which are a safer solution than payday loans. Whether you are going to use the money for business or personal matters, short term loans are easy and quick solutions that you can count on. You can get approved in a few hours and get the money faster than banks do.

Pay for personal or business expenses, invest and grow your money, by using Australian Lending Centre short term loans. It is a better option than cash advance payday loans. Contact the experts of Australian Lending Centre today.

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Personal Loans Interest Rates

Why Patients in Debt Turn To Low Interest Rates When Applying for Loans

It’s definitely costly to be sick nowadays and patients in debt are particularly vulnerable. Despite the government’s efforts in promoting healthy workers, healthy eating and active living, illnesses still arise and more often than not people aren’t financially ready for it. No wonder many patients look for low interest rates loans when in need for financial security.

The No-Work-No-Pay Policy Scares A Lot Of People

Would you rather go to work than call in sick and risk losing your job in the process? Many people drag themselves into work while they are sick simply because they cannot afford to call in sick. If you are a casual or on a contract without sick pay benefits, you might be forced to report for work despite your doctor’s advice.

It’s not uncommon to hear stories of people suffering from injuries or illnesses to work through their discomforts so that they can still receive their wage. Some people don’t even bother applying for sick leave if they know their company is restructuring or cutting down on costs and firing employees.

Some people take a few days off but immediately return to work after using up their statutory sick pay, even though their doctors’ may advise them to take a longer break. This can actually harm your future health and mean you need to take more time off down the track.

Although the Australian law requires employers to give their employees’ sick leave benefits it is worth noting that the number of days covered may not be enough for a person to fully recover. That’s why some employees’ will come back to work earlier so that they can keep their job and receive their wages in full.

Many Self-Employed People Have No Comprehensive Medical Insurance

While Medicare, gives you access to free hospital treatment and subsidises your out-of-hospital medical treatment, you may still have to shoulder some out-of-pocket expenses if you need elective surgery. Some people still take out private health insurance products from top companies like Medibank, Australian Unity, HCF and the HBF. The most common health insurance coverage includes the following: Lifetime Health Cover, Medicare Levy Surcharge, and Private Health Insurance Rebate. But, there are times that the insurance coverage is not enough to foot the bill.

There are many things you need to pay for, and being sick doesn’t help at all. Patients in debt can save money by doing the following:

Groceries

Food takes up most of our money, with it being one of our basic necessities; we can’t really go without it, and so minimising the costs used for them might be the best option. If you’re used to eating out you should start cooking homemade food, not only is this cheaper, but it’s also healthier.

When buying groceries, you should make sure that they will last you an entire week without having to go back to the market again. Remember, this should turn out cheaper than eating out every day, so buy only the ingredients that you’ll need. If possible, look for discounts, or you could even look for some vouchers and/or coupons that might be lying around your home.

Transportation

Going to and from work can be such a hassle. Having your own vehicle might be more beneficial on your part because you can budget the money you use on fuel. However, as with everything in life there are other expenses attached to owning your own car; this is where public transport has the upper hand.

The key to budgeting your transportation expenses is to average your monthly expenses and then create a budget based off that figure.

Bottom Line For Patients in Debt

You need to pay your debts each month, and unless you find personal loans with low interests for patience in debt, it is difficult to keep up with your payments.

Bills might come knocking at your door on the 15th or the end of the month, so you should make sure that you have money set aside for them. Everyone has debts they have to pay. Do everything possible to pay on time and you’ll eliminate them in the near future. Australian Lending Centre offers loans with low interest rates that you can fall back on at troubled times. If you’re interested in applying for an affordable loan, make an enquiry today!

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Financial Planning Financial Fitness Short Term Loans

Starting a New Job? Here’s How Short-Term Loans Can Help You

Congratulations on your new job! Whether you applied for this job for experience, for pay, or both, here’s how short-term loans can help you get started on the right foot.

Cover Job-Related Expenses

If you were laid off, or you just started working for the first time in your life, you’ll eventually realise that you must spend money in order to keep your job. That means you need to get ready for job-related expenses, such as:

Transportation Costs

Your new job may require you to use your personal vehicle or take public transport for work-related reasons. Fuel and bus fares can be pretty expensive, especially if you’re travelling a long distance to get to the workplace. Since commuting may not qualify you for tax breaks, it is best to discuss the possibility of reimbursements with your boss for work-related travels. You can also enquire at the tax department about job-related tax deductions, should any of the allowable deductions apply to you.

Accommodation/Travel Costs

Does your job require you to travel to various places in order to find new clients or meet potential investors? If so, it is advised to discuss the travel expenses with your employer. If there is a delay between reimbursement can leave you out of pocket so short-term loans can help with this. Whether you will have to pay for it first and be reimbursed later or if they will provide the money upfront every time you travel. Just in case you’ll have to shoulder the cost first, you can rely on short term loans for quick cash. But, always remember to bill your employer so that you won’t have to foot the bill all by yourself. Otherwise, you need to shoulder it and apply for tax deductions for job-related costs later.

Work Wardrobe

Working in style doesn’t have to be expensive. If you have a uniform at work, things would be easier. But, if there’s none, you need to find creative ways to look neat, clean and a little bit stylish. Looking good and being comfortable can boost your productivity simply because you like what you are wearing and you’re proud of it. A short-term loan can help cover these initial expenses.

Look for discount stores that sell high-quality garments at low prices. Choose clothes that can serve double duty. For example, if you’re in the corporate world, buying black pants, skirt (for women) or a jacket would be a great idea. You can match it with a white shirt/blouse and black shoes. Purchase an all-weather coat and great fitting jeans. A tote bag can be very useful too, it can hold your work-related items and you can also use it on casual days. For $1,000 you could easily buy yourself high-quality outfits that last; these items will get you through the first few months of your new job.

Pay Your Existing Debts

Do you have a variety of debts? Perhaps you’re dealing with a car loan, mortgage or a credit card balance.

When you run up a large credit card balance, it won’t be easy to pay it off. The longer it takes you to pay off the balance, the more it can cost you.  Make sure that you pay at least the minimum required amount on time.   Defaulting on your debts will not only destroy your credit rating, it could mean additional interests and fees, plus increased risk of bankruptcy. While you’re starting on your new job, try to stay in control of all your loans – including your utility bills.

Set Aside Money for Emergency Needs

Put money aside for emergency needs so that you won’t be in a vulnerable financial situation when an unexpected expense hits you.

Set a Budget That You Can Live With

Nothing is more challenging than setting a budget without money to work on. If you would like to stick to a daily budget, get a short-term loan first, and consider it as your first salary. Create a daily budget out of that amount (make sure that you are basing it on the actual salary you are expecting to receive) and follow it. Plan your day and budget your daily meals, transportation expenses, utilities, recreational activities, etc. If you’re fond of eating out, perhaps it’s about time to eat healthy home-cooked meals. You might be too busy to cook on a daily basis, so why don’t you prepare your meals weekly? Stock your meals inside the fridge and simply heat them on the weekdays.

Australian Lending Centre can help employees achieve financial independence. Learn more about our short-term loans by making an enquiry today!

Categories
Short Term Loans

Best Ways to Use Short Term Loans for Consolidation

Short term loans are becoming more and more popular nowadays for an obvious reason: no one likes to drag on their payments. They want to get it over with as quickly as possible to be debt-free and considering that the application process is so smooth, this option is fairly convenient. You can also use short term loans for debt consolidation. Find out how here.

Moreover, these loans are great for those with bad credit, since they don’t need pristine credit rating to offer you a loan. The downfall, however, is that these loans have higher interest rates than the average loan. Everything “emergency-labelled” possesses some sort of risk, so in order to gain some security, lenders will raise the stakes to keep you paying.

But how can you use short term loans without burying yourself even deeper into a hole of debt? The answer is: use them wisely. You may contact our specialists on 1300 138 188 for a free consultation, if you wish. No matter if you are looking for a loan or some advice, we will do our best to guide you on the right path – and also help you avoid more payments than you can handle.

What Is Debt Consolidation?

Debt consolidation is the process of combining two or more loans into a single payment. If you’re asking yourself what difference would it make, think about it this way: with each loan, you have a particular interest rate to pay. As a result, the total payment in interest will skyrocket into space.

Granted, interest rates in debt consolidation may rise depending on the total sum; but if you can get at least 1% off the total interest, this will help you in the long run to save money – money that you can use on the payments for the actual loan.

helpful

How a Short Term Loan Will Help

Short term loans are there to help people in an emergency. As we may have mentioned, though, these types of loans are unsecured, and therefore, quite expensive. Since the lenders will be put at risk when they offer you money, they will have to turn to a high-interest rate to make sure that they are getting their money back.

Here’s a short list of the pros offered by short term loans:

  • One single payment: Nothing is more confusing than having to pay multiple loans to a lot of lenders. The risk of forgetting to pay one loan is very high, and before you know it, you’ll be staring at your credit history wondering why it looks so horrible.
  • Possible lower interest rate: There’s no absolute certainty that short term loans used for debt consolidation will offer lower interest rates, but let’s say that it’s a high 95% possibility. Used correctly, such a loan will have you paying less for each month.
  • Avoid credit score damage: By using short term loans to pay off your debt, you’ll be less likely to fall behind on your payments, and you will actually be able to stay on track. Over time, this will work to “heal” your credit score, and you’ll be able to gain credibility if you want to go for a regular loan in the future.

You may also want to keep in mind that a short term loan will be helpful only if you take out one of them. The more loans you take out, the more you will have to pay in interest. The solution would be to find some short term loan that will cover your entire debt, without having to resort to other financing sources.

Here’s how the whole process works: you get a short term loan, and the money that you will get will be used to pay off your other debts early. Not only will it help make things easier for you, but if you already had issues with late payments on the previous loans, this option will help fix your history.

avoid-traps

Avoid Getting into a Trap

The secret to avoid getting yourself trapped into a debt cycle is by borrowing exactly the amount that you need, and no more than that. Many people make the mistake of borrowing more than they need, just in case they need it. However, that “just in case” will have you paying more than you were supposed to in interest, which beats the purpose of consolidating. Basically, you are borrowing so that you can make things easier, not over-complicate them.

It’s important that you borrow responsibly so that you do not have any issues paying it back. Borrow from just one lending company to avoid the clutter of interest fees, and before you know it, your payment will be made without any further issues.

In conclusion, short term loans can help you if you want to consolidate your debts into one payment. The only requirement is that you need to be smart about it and not stretch more than your rope can handle. Enquire today and get short term loans for consolidation with Australian Lending Centre.

Categories
Short Term Business Loans Self Employed Short Term Loans

What’s the Deal with Short Term Loans for Your Business?

As a business owner, you’ll often find yourself in need of financing and may be asking about short term loans for your business. Depending on your needs and circumstances, you could choose from short, intermediate or long term business loans.

In today’s post, we will discuss short term business loans, the instances in which they should be used, and the terms you have to meet to qualify for them. So, let’s get started!

Defining short term loans for your business

Loans that are classified as short term loans typically have a maturity of one year or less. In other words, they have to be repaid to the lender within that fixed timeframe. Nevertheless, there are short term loans that can be repaid much quicker than that – in approximately 120 days.

The primary reason why many business owners choose loans with short maturities is that they facilitate immediate financial help. What is more, they don’t require making a long-term financial commitment, which can be rather stressful, especially for start-ups.

The Purposes of Short Term Loans for your business

What are those instances in which short term loans are actually helpful? It’s always recommended to assess your circumstances, whenever it comes to making a financial decision. That being said, short term loans can be convenient for seasonal businesses, in particular. For example, retail firms that have to cope with inventory for the holiday season.

seasonal-business

Such a company might require a short term loan in order to purchase inventory in advance for the holidays. A business in this situation might be unable to make repayments until the end of the holidays. In such a scenario, a short term loan is an excellent option for businesses.

Nevertheless, this isn’t the only scenario in which a short term loan is a good choice. If a firm intends to increase its working capital in order to cover potential temporary deficiencies, a short term loan will meet this purpose.

On a different note, if you are waiting for credit customers to cover their bills, you might need financial support in order to pay your own bills. Additionally, such a loan could aid you to even your cash flow, especially if you own a cyclical firm.

What You Should Know About Qualifying For Short Term Business Loans

Moving on to qualifying for a short term business loan. For starters, you’ll have to collect comprehensive documentation for your application. Most of the times, the lender will require a record of your payment history that encompasses the loans you had in the past, payment records to current accounts, and, of course, your firm’s cash flow history for the last three to five years. Of course, these requirements vary. Additionally, you should be prepared to supply your income statement for the amount of time your lender requires it. Take into account that the documentation you gather should be in a professional format.

On a final note, your qualifications for short term business loans will establish whether or not the loan will be secured or unsecured.

short-long-term

Short Term Loans vs. Long-Term Loans: Which Is Better?

Typically, short term loans have higher interest rates, in comparison with long term ones. Nevertheless, in a recessionary economy, the interest rates on short term loans could be more advantageous.

In general, short term loan rates are determined by the prime interest rate and some premium. The lender will establish the premium depending on the risk your company poses to them. That is concluded after carefully analysing the documentation submitted for the application process.

Moreover, the interest rate on short term loans can be calculated in a number of ways. It’s best to be informed about the current prime interest rate so that you are knowledgeable when you negotiate the interest rate on your loan.

Securing a short term loan as a small business or start-up is a possibility. That is primarily because short term loans feature fewer risks than long-term forms of financing, due to their maturity. Nevertheless, it’s worth noting that, in the case of start-ups, most will qualify only for secured loans, which would involve offering collateral to secure the loan with the lender.

On a final note, the availability of short term loans to start-ups and small businesses is crucial to the economy. Without short term financing, companies couldn’t operate properly, nor could they expand.

If you’re looking for reliable funding for your business, you should get in touch. Australian Lending Centre supply suitable deals for our customers. Our focus is to assist Australian businesses, helping them find the ideal loan options for their needs and circumstances.

Conclusion Regard short term loans for your business

To conclude, short term loans for your business can be beneficial to both start-ups and businesses that have been operating for years. And the good part about them is that almost every business can get one. If you have other questions on the topic, you can leave them in the comment section below!

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Short Term Loans

When Short Term Loans Make Sense

If you need immediate cash and you have no financial documents to submit at this moment, short term loans make sense.

Don’t get us wrong. Using credit cards to finance a purchase is sensible as long as the repayment period is short; however, using it as a financing instrument is another thing. Stretching fees to a longer period of time would also increase the financing fees.

Personal expenses

Short term loans are commonly used to pay for personal expenses. You can access the money quickly which is very helpful in times of emergency. It has a shorter time span too, so you don’t have to worry about accumulating interests. You might say, “But the interest rate is higher than long-term loans”. It depends on the lender. Look for short term loans with flexible terms that would allow you to make affordable payments on the balance of the loan and the interest payments.

Personal loans are commonly used to pay for the money you need when you don’t have to wait for the lengthy loan approval process. Not having collateral to secure you debt is not a problem as well. So, instead of applying for secured loans that requires collateral, it is more convenient and shall we say, safer to get short term personal loan which can be granted without risking any of your property.

Investment

If used wisely, you can use your short term loans to grow your financial portfolio and prepare for your retirement. That includes purchasing investment property which is one of the safest investment vehicles out there. You can rent it out as a quick source of income, and the property may appreciate in value over the years, and you can build your equity and be in a better financial situation in the coming years. With your home equity you can have a quick source of income for medical emergencies, home improvements, business capital or even school expenses for those with kids.

Business owners who don’t want the lengthy loan process may avail of short term loans to grow their business. You may use it as a financial fall-back plan to make a smoother start when your business is in the rocks.

Consumer education

A short term loan can help you get what you need quickly but remember that while you may obtain it quickly, paying it back is the hard part. You may find yourself sinking into overwhelming debt if you don’t have a proper repayment plan. Consumer education is important especially in terms of compounding interest and payments. Climbing out of debt requires commitment and proper planning. But, you cannot settle your debts easily if you have no adequate knowledge about prioritizing payments and debt reduction. You must also know what to do when you cannot make a payment.

Australian Lending Centre provides short term loans to individuals who need funding fast. Our certified specialists can quickly assess your financial situation, even if you have poor credit history and low documentation. So, whenever you need cash flow injection for your business, investment deals or personal needs, you may contact us and our team will do our best to help you.

Call us today at 1300 138 188!

Categories
Debt Consolidation No Credit Check Loans Personal Loans

Holiday Money Saving Tips

With the holidays looming ahead, there is no question that the inaugural family trip is in full planning mode. If you’re stressing about it, don’t worry, we’ve put together a simple holiday money-saving tips guide to take the stress away from your vacation.

These helpful tips will help to ease the stress on your wallet and make your holiday enjoyable for you and your family!

Holiday Money-Saving Tips

  1. Snacks & Drinks – Pack bread, chips, sandwich, and ready to eat foods. You don’t need to bring too much but you can save money by providing the snacks. Lollies and energy bars are expensive if bought from convenience stores.
  2. Drinks – Bring soft bottled water so you can refill it from taps. You may also want to pack fruit juices, sodas or bottled water to keep you hydrated.
  3. Charger – Bring power banks, chargers and connectors so you don’t have to pay for charging fees. You can also bring extra batteries if you have them.
  4. Travel tour offers – Go online and take advantage of the latest travel deals. Ticket prices may change depending on the season.
  5. Hotel and Restaurant – Check the rates and freebies. Is there free WiFi, or free breakfast? Some hotel packages may offer free spa and other benefits so don’t be afraid to ask of what’s included in the package. Remember that your goal is to save money. You can take advantage of the hotel’s amenities without paying extra charges.
  6. Bring toys – Keep your kids behaved by bringing small toys, books or gadgets to keep them busy. Keep the little tackers tamed and its bound to be a headache-free experience.
  7. Travel with relatives – The more the merrier. Travelling with your relatives or with another family can be advantageous. This is ideal if you prefer to diffuse the rental costs. The fee is fixed, so increase the numbers in order to reduce the cost per head.
  8. Sanitary kits – Vending machines are everywhere. Save money by bringing your own sanitary napkin, tissue, etc. Bring wipes and sanitizers to avoid a mess.

When travelling, there is no need to compromise on luxury. You and your family deserve to enthral yourself’s in the riches of adventure and relaxation. Let the above steps inspire you to enjoy your vacation whilst preserving the bank.

Happy Holidays

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News

Quick Cash – Tips to Earn Fast in Stock Trading

How many times did you find yourself wanting to earn some money ASAP? Probably many times. Regardless of the reasons you’re in need of quick cash, stock trading could be an excellent approach in such instances. Notwithstanding, before taking the leap, you should consider a handful of basic tips.

Get acquainted with the basics of earning quick cash

It is implied that you cannot expect to attain financial success overnight and be clueless about stock trading. On the contrary, it’s crucial to try to learn the ropes in the domain, and comprehend the way in which things function, that is if you wish to see notable enhancements in your financial situation, of course.

Instead of rushing into making a decision or another, be patient and take things one step at a time. For starters, you should establish how to earn money by getting involved in the stock market. Luckily for you, there are so many resources online that can introduce you to the domain. At the same time, you can take the lead from other experienced individuals who share their wisdom.

Concurrently, a good option may be opting for a trader training session, to follow in the footsteps of people who actually know what they’re talking about.

Look for attractive opportunities

Another essential step you should follow if your purpose is to have quick cash is to look for eye-catching opportunities in the market. Presumably, you are in search of deals that will ensure promising revenue for the foreseeable future. In order to make sure that happens, it goes without saying that you have to be wary of financial movements that take place around the world.

And when the opportunity kicks in, you should be ready to make the move. Easier said than done, but when you’re informed, you can rest assured that you’re making the right decision for your future financial security.

Be ready to take chances

Presumably, the fundamental reason many people are rather resistant to earning quick cash by getting involved in the trade market is that you need to be ready to take chances and make bold decisions. When you spot a promising opportunity, you need to trust your gut and go with it.

In the case in which you’re full of doubts, and you delay your decision too much, the chance will have vanished into thin air together with the opportunity to earn quick cash. However, the trick to succeeding in making money this way is to move fast and confidently.

Once you get to know more about the way in which the trade market functions, you’ll be more confident in your moves.

If you take into account the essential tips enumerated above, you’ll manage to increase your revenue in the minimum amount of time! Good luck and fingers crossed!

Categories
Short Term Loans

Ads for Short Term Loans Banned on Google

According to recent settlements, Google have banned ads for Short Term Loans. The decision was triggered by the concern that these ads have a specific predatory nature. On that account, it has been established that the search engine will ban ads featuring loans for which the repayment is required within 60 days after the date of issue. But what is it that makes these loans far from the ideal choice for the Australian borrower?

The truth about short term loans

These short term loans stand under the question mark as they come with significant amounts of interest and are causing people to sink much deeper into debt. Consumer Action Law Centre has gladly received this establishment. However, there has been a range of inquiries regarding the way in which the mechanism will function.

For starters, Google has included an additional ban in the US for loans that are linked to an annualised percent that surpasses 36. However, after having agreed on that for the US the same mechanism was suggested to Jason Pellegrino, CEO of Google Australia. According to his affirmation, the same initiative that firstly emerged in the US will be extended to Australia as well, meaning that short term loans that have an annualised interest percent over 48. That initiative is expected to balance payday loans with the financial products from our country.

As made official by Google, this ban has come into force on the 13th of June, which has been the first time Google has taken the initiative by announcing a global ban for a broad range of financial products.

These short term loans, in line with the research conducted in this direction, indicate that, in most situations, they result in high default rates and unaffordable payment for users. The primary purpose is to protect each user from deceptive financial products and offers. Without fear of contradiction, this move won’t affect reliable and reputable banks and non bank lenders, such as the Australian Lending Centre, which provides a great variety of bad credit loans, debt consolidation loans, car loans, and etcetera.

The main reason people are lured into taking up payday loans is that they are presented to them in an attractive manner, similar to a quick, efficient fix to a complicated problem. As many people who are trying to make ends meet will assume that such a loan will put an end to their problems, they somehow fail to acknowledge that these loans are linked to high fees and charges, which will further get one in a vicious cycle of debt he/she cannot escape.

That’s why we recommend people who are in a difficult financial situation to steer clear of these payday loans, and opt for the guidance of a professional financial counsellor.

Categories
Bad Credit Loans Debt Consolidation Personal Loans Short Term Loans

Ways to Save Money if you’re Unemployed

There are a number of ways to save money especially if you are unemployed. To those who are experiencing the same thing, it is not the end of the world. It may take quite some time before you find another job and the best thing that you can do is to save your last resources and make the most of what you have in hand.

You’ll never know when unemployment is going to hit you and it may be because of various reasons; economic crisis, questionable number of sick days, poor performance, incompetence, or failure to demonstrate productivity. Finding a new career is not easy so there is a need to find ways to save money. Here’s what you can do:

Gather your resources

It may be in the form of savings, separation pay and other benefits that you will receive as soon as you leave.

  1. Search for a new career – It might take time before you land a full time job. Don’t lose hope; keep on submitting your resume.
  2. Part time job – It is not bad at all, it will save you from getting in debt. Getting a part time job is better than nothing.

Ways to save money

  1. Transportation – Make use of public transportation. Gas is a major expense. Public transportation is just a cheaper option, but drive when necessary.
  2. Avoid dining out – If you are used to Starbucks and getting take out, this is the time to pack snacks and lunches. Always bring water so you can avoid using the vending machine for bottled water.
  3. Make an attainable spending plan – Saving money is going to be tough. Prepare a spending plan that is attainable and stick to your plan.
  4. Cut unnecessary expenses – Subscribing to a magazine, paying for music downloads, spending on online games, these are just a few expenses that you can live without. Your priority is how to be able to pay for rent, water and electricity.

Spend less

Spending less is one of the most effective ways to save money. Try these tips:

  1. Shop with a list – If you are heading to the grocery store, make sure that you have a list of what you need. Without it, there’s a tendency to buy things that you don’t really need.
  2. Save water & electricity – Cut your water and electric bill. Don’t keep the water running when you’re not using it and turn off power switches when not in use.
  3. Use alternative brands – Signature items and big brand items are expensive, be brand flexible.
Categories
Debt Consolidation No Credit Check Loans Personal Loans Short Term Loans

How to Save Money on Family Holiday Trips

If you’re a full-time worker, going on holiday is the best solution to just get away from it all. But sometimes going on holidays can also be stressful if you don’t have enough money or if you’re worried about spending while you’re on holiday if you’re on a tight budget.

Fear not! If you want to save money while on holiday trip with your family, here are a few useful tips on how to do just that. Follow these simple steps on how to save money during a holiday trip with your family.

How to Save Money on Holidays

  1. Bring toys – Keep your kids behave by bringing small toys, books or gadgets to keep them busy. This way, there is no need for you to stop by at a convenience store to buy overpriced toys.
  2. Snacks & Drinks – Pack bread, chips, sandwich, and ready to eat foods. You don’t need to bring too much but you can save money by at least bringing snacks. Candies and energy bars cost higher if bought from convenience stores.
  3. Charger – Bring power banks, chargers, connectors so you don’t have to pay extra for charging fees. You can also bring extra batteries if you have.
  4. Sanitary kits – Vendo machines are everywhere. Save money by bringing your own sanitary napkin, tissue, etc. Bring wipes, sanitizers to avoid mess.
  5. Drinks – Bring soft bottled water so you can refill it from taps. You may also want to pack fruit juices, sodas, milk or bottled water to keep you hydrated.
  6. Travel tour offers – Go online and see what the latest travel offers are. Ticket price may change depending on the season.
  7. Hotel and Restaurant – Check the rates and freebies. Is there a free WiFi, or free breakfast? Some hotel packages may offer free spa and other freebies so don’t be afraid to ask of what’s included in the package. Remember that your goal is to save money. You can take advantage of the hotel’s amenities without paying extra charges.
  8. Travel with other relatives – The more the merrier. Travelling with your other relatives or with another family may have an advantage. This is ideal if you prefer to stay in a house for rent. The fee is fixed so the more relatives you bring the rate becomes smaller because you divide it per head.

Travelling with your family is not so expensive at all if you learn how to consider other cheap options. You can save money by following the above simple steps. Travelling is no longer a form of luxury these days so it is also a great way to economise with your family while you’re all on holidays.

Holidays are the best time to bond and bring the family closer. Why not go on a holiday with these easy tips so you can enjoy some time off and save money at the same time?

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Short Term Business Loans Short Term Loans

Tips on how to work at home in style – Self Employed Loans

Working from home is a growing trend and more and more Australians are choosing to have a home office or finding options to work at home. Setting up a home office is easy to do and over one million Australians have done it. The traditional office space is usually set up for efficient use of space and not for inspiring creativity but a home office can do both. Since a home office is going to be something you create from a space in your house it makes since that it would have some of the same characteristics and personality that you already have in your home. There are a few other things you can do to make sure that you love your workspace and it inspires you to get your work done.

Work at home in style

Staying away from the boring office colors and cheap furniture will make your workspace at home stand apart from what you are used to seeing in an office building. Incorporate personal objects that will make you feel comfortable and motivated. A picture of your children or a list of your favorite quotes on the wall will remind you of why you are there and drive you to do a great job while you work at home. Since you are the designer of your home office you can choose to use the space how you want and if that means having extra lighting or a stand up desk then that is what you should do.

Investing in the home office should be done with care and the items you use when you work at home should stand the test of time. Your office will be an extension of your home and having quality furniture and electronics is essential. The computer you use will be all yours so you can go as high end as you need without having to ask the boss. Taking a short term loan might allow you to get the things you need when you need them and you can look at it as an investment into your career as well as your home.

Being self-employed is a freedom that everyone should know at some point. It takes motivation and you should surround yourself with things that motivate you to get the work done the very best you can when you work at home. Decorating or supplying your office with quality materials is crucial to having a great working environment. The lenders at Australian Lending Centre are approving self-employed loans to help Australians achieve their life and business goals no matter what they are dreaming of.

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Short Term Loans

Short Term Loans vs Credit Cards: Pros and Cons

Short Term Loans vs Credit Cards

Are you running short of cash? If you know how to make ends meet, you surely would find ways to overcome it without getting any debt. But if the need for money is drastic and necessary, you may not have any other choice but to apply for financing. For sudden and emergency needs, you may consider two logical and reliable options: short term loans vs credit cards. Which of the two should you choose? Let’s weigh up the pro’s and con’s of both.

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Financial Planning

Having a Financial Plan vs. Day to Day Approach

In a month, your income may or may not be fixed. But your basic expenses can be constant. To many people, a financial plan is necessary. It can serve as a guide on how an individual can spend and manage his resources. Not all people realise the advantage of having a working financial plan, though. There are those who prefer to spend without planning and handle their money on a daily approach.

Money management logically does not naturally or easily come to everyone. A financial plan will always be helpful whether you have tremendous or little experience with managing and handling wealth. Financial planning can generate numerous advantages that can cover different aspects of your life.

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Bad Credit Loans

5 Ways to Increase Your Chances of Getting Loans Approved With Bad Credit

It will inevitably be more difficult for you to obtain a loan if you are suffering from bad credit. As you explore your options, you will realise that your choices are limited. Borrowing can also get more expensive. If you are struggling to get loans approved with bad credit then you’ll be pleased to know there are bad credit loan solutions available.

These days, it can still be possible for people with poor credit to get approval for their loan applications. Here are five ways that can help you increase your chance of getting loans approved with bad credit.

The Process To Get Loans Approved With Bad Credit

1. Apply for a loan from a credit union.
While most lenders use credit scores as a basis for approving loan applications, credit unions will be more sympathetic and considerate to lend money even if you have poor credit. Such organisations derive money from individuals and other investors, not from banks. But those are still profit groups. Credit unions, no matter how compassionate, will still aim not to lose money. Those can set specific criteria to approve bad credit loans.

2. Use security or collateral.
This really can give you the upper hand when it comes to getting loans approved with bad credit. Having an asset like your home, land, car, or boat can be an advantage. You can use any of those as collateral to secure your loan. This is because if you are securing your loan against a physical asset, then lenders are more willing to take a risk. Most loan providers will be more than willing to provide you with loans and implement competitive or lower interest rates. However, the loan amount may directly depend on the equity or valuation of the collateral. Just strive harder not to fall into default as it may lead to repossession of the property.

3. Find a guarantor or co-signer.
You can instantly increase your chance of getting a loan approval even if you have poor credit if you can have a guarantor or co-signer, who has a good credit score and a constant source of income. You may ask your family members, relatives, or close friends to do the favour. Just be aware that if you will default on the loan, your co-signer will be forced to pay the loan amount on your behalf. Convince your guarantor that you have no intention to put him/her into a compromising situation.

4. Try to correct your credit report.
If you have doubt about your credit score, then did you know you can check it for free? There can be significant errors that are currently affecting your credit rating. Poor credit may be due to previous unpaid bills that had already been settled. Or your record may have included loans or delinquencies that you really did not incur. Credit rating agencies may also commit errors in reporting. Don’t worry because they are also open to correcting their own mistakes.

5. Declare or present your savings account.
There is no need to have huge savings. Even with small savings, you can possibly prove to loan providers that you are financially stable and you are on track to rebuild or improve your credit record. This can also serve as an assurance that you will have funds to repay your loan if ever you experience a shortage on your regular or fixed income.

By following these 5 simple tips, you can boost your chances of getting loans approved with bad credit. It’s a lot easier than you might think, but if you have any questions then we’ll be happy to help. You contact a specialist here.

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Personal Loans Short Term Loans

Christmas Shopping – Common Spending Habits

Christmas is undoubtedly a season for shopping. The spirit of the occasion is indeed in gift-giving. You may have to shop for all the presents you intend to give away. At the same time, you may want to shop for yourself and for your household.

It is not surprising that many consumers tend to overspend during Christmas shopping. That is because malls and retailers are doing their best to entice you to spend. Your shopping mood could be set on fire by the festive decorations. The special markdown sales and new items on the display could further persuade you to buy until you drop.

Are you ready to once again hear the cash register ring for your Christmas shopping? There are many tips you should first look at and observe. Here is a simple and practical list of the do’s and the don’ts when shopping for the season.

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Personal Loans Financial Fitness Short Term Loans

Celebrity Lifestyles Create Debt for Young Australians

Many Australians, especially the younger generations are obsessed with celebrity image, and pressure to keep up with the ever-changing style of the stars is driving an annual $8.7 billion credit card spending spree. The modern day cult of celebrity is now so pervasive that young men and women alike are racking up expensive credit card debts to copy the looks and lifestyles of the rich and famous. Matching celebrity lifestyles is creating debt for young Australians at an astounding rate!

A recent study conducted on the rise of celebrity culture in Australia, reveals that almost 90% of young Aussie woman feel that they are expected to match the idealised images and designer wardrobes of the celebrities. This isn’t really surprising when you consider that celebrities are found on every source of media, not to mention they can be intimately followed by the likes of reality television series and social networking sites such as Facebook and Twitter.

The biggest culprit of this obsession is women aged 18-34 years. Two in three women admit to using their credit cards to purchase items to mimic celebrity style. This dangerous fascination is leading to many Aussies maxing out their credit cards by spending thousands of dollars a year on clothes, accessories, hairstyles and beauty treatments popularised by the stars.

However it’s not only the women, nearly half of Aussie blokes aged 18-34 years admit to being influenced by the style of Hollywood’s leading men. Aussie men have also admitted to purchasing clothes, beauty products and even sports cars to emulate a celebrity lifestyle.

Celebrity Endorsed Debt for Young Australians

Both men and women are likely to buy the never-ending ranges of celebrity endorsed products, whether it is a celebrity promoting a company’s product or the product itself is owned by a celebrity. Just look at all of the celebrity fragrances on the market as one example.

Many young Aussies are none the wiser of the repercussions their spending habits could have on their future. Not only are they setting themselves up for years of debt and interest repayments, they are also potentially facing bankruptcy. Bankruptcy is the worst financial result to any individual’s life. By filing for bankruptcy you have instantly put yourself in a position of uncertainty, as it can negatively affect so much of your financial freedom.

Limitations of bankruptcy

If you are bankrupt, you cannot hold certain licenses, there are restrictions on employment, and you may be required to pay part of your income to a Trustee. You also must obtain the Trustee’s permission to travel overseas, some of your divisible property may be sold and any divisible property you acquire during bankruptcy, vests in your Trustee. Also when you are bankrupt you are limited to obtaining loans and credit.

Manage your debt

It is important to get a hold of your finances before they become too difficult to manage. Many young Aussie is excited by their ability to use their first credit card, and they can easily forget that every payment needs to be repaid, and due to interest you usually end up paying more for the item as a result of placing it on your credit card. Credit cards should be used as a tool for purchases such as airfares and for emergencies. You should intend to make the repayments in full as soon as possible to avoid accruing interest charges. If you find that you need to make everyday purchases such as groceries or petrol on your credit card because you lack the funds to purchase these items from your income, then you could be heading for a trouble-filled financial future.

If you are finding it difficult to make your debt repayments on credit cards or personal loans then you should speak with one of our experienced debt consultants today.