The Five

Payday loans are also called “cash advance loans,” “check advance loans,” “post-dated check loans,” or “deferred deposit loans.” But they all pretty much mean the same thing.

In the case of online companies, you apply for a loan through the Internet. If you’re approved, the money is wired overnight into your checking account. The loan is usually for one to four weeks — until your next payday.

When the loan is due, the company takes the amount you owe — plus a fee — out of your bank account. You can “roll over” the loan to the next payday, but you have to pay another fee.

But there are some facts you need to be aware of.
You won’t see these in the ads for payday loans. And you may have to search the “fine print” on the company websites to find them. I call them the Five Hard Truths About Payday Loans.

Hard Truth #1:

A payday loan will not solve all your problems

Remember, it’s just a short-term loan. And the quicker you can pay it back, the better. Don’t keep rolling over the loan and racking up the fees.

But you’re an adult. You can decide for yourself how you’ll use the loan money and if you can pay it back when you get your next paycheck.

Hard Truth #2:

You can’t get an unlimited amount of money

Don’t expect to get thousands of dollars with a payday loan. Most loans you get will be about $100 to $500 — enough to get most people through a crisis until the next payday.

Some payday loan companies advertise that you can get $1,000. True, but don’t expect to get that much the first time you do business with them. Once you become a regular customer, they may raise the amount you can borrow — as long as you’re making enough in your job.

Which bring us to …

Hard Truth #3:

Not everyone can get approved

Here’s the deal. They’re called “payday loans” because they’re for people who have jobs and get a regular paycheck. If you don’t have a job — or other income like Social Security — you’re not going to get one of these loans.

Also, your job has to pay you enough. If you earn about $1,000 to $1,200 per month, you should be okay.

But these companies have other requirements you have to meet, and for good reason. They don’t know you, they’ve never met you, so why are they trusting you with their money? Because you prove you can pay the loan back.

So you’ll need to show them you have a job or other monthly income … you’ll need a checking account … you need to live somewhere and have a phone number … and you can’t be a complete deadbeat on the run from the law.

Sound reasonable? Sure.

And don’t worry too much about credit problems. They care more about your current ability to pay back a loan than about your past troubles with credit. That’s a relief!

Hard Truth #4:

These loans don’t come cheap

In general, you’ll pay up to $30 for every $100 you borrow.

Now, some pencil-pushers will tell you that’s like paying an annual percentage rate of 390% or 780% or some such number. They’ll say it’s outrageous when you compare it to getting a mortgage at 6% a year, or paying 18% on your credit card charges.

Okay, but you’re not taking out the loan for a year — just a few weeks at most. So look at the cost of taking out the loan as a service charge. You alone can decide if it’s worth it to you.

Want an example?

Let’s say you have three bills due on Wednesday, but you don’t get paid until Friday. If you pay your bills late, you get hit with late charges. If you write the checks anyway, and there’s not enough money in your account, the checks will bounce and you’ll have to pay fees for that.

Bounce one check and it might cost you $60. Bounce three checks and it’s $180!

Now compare that with paying, say, $50 or $60 to borrow $200 to cover your bills until payday. It makes a lot more sense to get the short-term loan now than to get hit with all those charges later.

What about “overdraft protection”? Your bank would love to charge you extra for the service of covering you when you write checks for more than you have in your account.

And why not? Some overdraft plans charge fees as high as $35 per overdraft! It’s a huge money-maker for banks. In fact, the biggest banks earn about $1 billion a year on overdraft fees.

What your bank doesn’t want you to know about payday loans is that they may be cheaper than the bank’s overdraft protection plan. No wonder so many banks are raising a fuss about payday loans — it’s competition for them!

So before you think about using your bank’s overdraft protection plan, take a close look at the cost. You may find that a payday loan will save you some money.

Hard Truth #5:

All payday loan companies are not the same.

It would be nice if you could just pick any payday loan company and know you’ll get a good deal. Sadly, that’s not the case.

I’ve scoured the Internet looking for the best companies. I’ve looked at what kind of loans they make, what their fees are, what kind of service they offer, and whether they’re easy to use.

After reviewing dozens of these websites, I’m happy to report that you have some good choices out there. There are also some questionable companies, but we’ll leave those for the authorities to deal with.

If you do your homework, getting a payday loan may be just what you need, saving you money in the long run.

Wishing you all the best in solving your cash flow needs!

Fast Cash Advance Loans Till Payday: Quick Finance to Fix

Fast Cash Advance Loans Till Payday: Quick Finance to Fix Needs

What is the need of knocking around your friends or relatives place to raise instant finance? Now with the help of fast cash advance loans you can easily meet any instant or unwanted need without any delay. Moreover these loans can be repaid on your up coming payday. The amount is advanced without any delay which gets electronically deposited in to your bank account within 24 hours. With the assistance of the loans, you can meet the expenses on home repairs, car repairs, medical bills, store utility bills etc.

Fast cash advance loans provide monetary assistance in the range of $100-$1500 towards you which is sufficient enough to meet sudden emergencies. These are basically short term loans and are unsecured in nature. The amount is offered on the basis of your up coming payday which is a good two- four weeks away. Moreover without any involvement of collateral, the amount gets approved instantly. This allows you to avail the loan without undergoing any mental strain.

To avail these loans, you have to fulfill some basic criteria laid down by the loan providers. They are

You should be employed for the last six months.

Your monthly income should be more than $1000.

A valid bank account along with the mandatory age of 18 years.

After the confirmation of the details, loan providers do not waste any undue time to sanction the loan amounts. One chief reason for applying the loans is it s faster approval which makes the experience of availing the loans a worth one.

While applying for these short term loans, you must be ready to shell out huge amount of money as interest rates. This is because lenders tend to charge a very high interest rate on short term cash loans. However with a proper understanding of the loan market by comparing the quotes using the online mode, you can find lenders offering the loans at competitive rates. Moreover it is the online option which makes the loan approval fast.

Fast cash advance loans till payday offers excellent finances which assist the borrowers to meet sudden emergencies without any delay.

How to Find Wake County Mortgage Companies

Congratulations! Youve just inked a deal to purchase a home. Wake County is a terrific place to livegreat schools, cultural amenities, state government nearby, easy access to the beaches and mountains, etc. However, the seller is very nervous as he eagerly waits to see if you can finance the deal. Of special note, he is pressed for time and has given you just 72 hours to seal the deal. What should you do? For starters, you must do some serious research. Yes, from the comfort of your computer you can and must uncover a wealth of information to find a local lender fast. Lets see how you can hasten the process without getting burned.

Every single day new information is being added to the internet. Because so many companies realize the internets importance, just about everyone has a web site. This can be good for you as it allows you to find accurate information quickly and painlessly.

Searching for mortgage companies in Wake County is as easy as a couple of clicks of your mouse. Yes, you could head over to the yellow pages, but remember this: your phone book is revised annually while updates to the internet are made all of the time.

I am not endorsing any particular sites; rather I am listing sample sites to help you find local mortgage lenders. A few of your results may yield national companies but plenty of Wake County mortgage providers are listed.

Eloan Enter all of your information with Eloan and you will receive an answer from them in as little as 90 seconds! Once you are approved, you can then finish your application.

Lending Tree Enter all of your personal information and Lending Tree will share with you four companies who will be interested in having you submit an application to them. You get to select a provider, but you do not make a commitment until you are approved and have decided to enter into a contract with them.

Quicken Loans You can get approved within minutes through this particular lender and they have a simple to fill out mortgage application. You can usually close within weeks of approval.

Wells Fargo – This national lender claims: In person, by phone, or via email, were ready to serve your home financing needs. A home mortgage consultant will gladly contact you, or you can visit and call any of our 2,000 locations nationwide. Of course, a provider of this stature must be competitive too. Dont be enamored by the sales spin; if you can find a lower rate with a similar level of service than go for it!

So, keep your seller happy and start exploring your options right now. Are there other online sources available? Yes! To find area companies google a search for Wake County mortgage companies and see who shows up in the results. As always, the choice of a lending provider lies strictly with you; start searching for qualified Wake County mortgage companies today.

Finance Your Cleaning Business by Bootstrapping

Copyright 2006 The Janitorial Store

New cleaning businesses tend to have few financial resources. Before you sign your first client you need capital for supplies, equipment, basic start-up expenses, and perhaps even payroll. Where do start-up companies get the financing they need to set up shop? Some businesses use savings, some borrow from friends or relatives, and some get a bank loan. But many small start-ups rely on a technique called bootstrapping.

Bootstrapping means pinching pennies, cutting corners, and learning to do more with less. Using bootstrapping techniques also means carefully watching where your cash is coming from and where it is going to. Does this technique work for growing your business? You bet! Ernest & Julio Gallo, Domino’s Pizza, Hallmark Cards and Black & Decker are examples of businesses that started with $1000 or less and used the art of bootstrapping to grow and become successful.

In bootstrapping you not only focus on how revenues come into the business, but where you are going to spend the money that comes in and if there are other ways to obtain those resources.

The following are techniques that have helped businesses grow and expand.

1) Focus on the right customers. Some customers like to hold onto invoices as long as possible. Finding customers who pay immediately helps keep cash flowing into your cleaning business. Maintaining a good customer relationship will also help to get your customers paying as soon as they get their invoice.

2) Be frugal, but not cheap! Distinguish between costs that are necessary and ones you can avoid. Do you need to rent space for your cleaning business or can you begin by running the business out of your home or garage? Can you get by with used equipment? Do you need a cell phone with streaming video or just a basic model to make sure you do not miss any calls? On the same token, don’t be shortsighted (and cheap) with suppliers. Develop a good relationship with your suppliers and they will be happy to let you know when there are specials and if a lower priced item works as well as a more expensive one.

3) Create a high profile for your cleaning business. By taking on larger cleaning accounts your business projects an image of competency and that it has the skills and resources to handle the job.

4) Keep your salary as low as possible. The less cash that go out of your business the better. Cut back on your personal expenses while the business grows. Avoid buying that new car and that holiday cruise until your cleaning business has a good cash flow.

5) Get your customers talking about you. Word of mouth is the best advertising around and it doesn’t cost you anything. Ask your customers for referrals and tell them to mention your name if they know of anyone who is looking for cleaning services.

6) Keep good records and track every dollar. It is difficult to know if there are expenses that you can cut if you don’t know where your money is going or where your money is coming from. Keep more income by not giving preferential treatment or discounts to special customers.

7) There is power in becoming a partner. Find another business owner to share equipment, office space or even employees.

8) Trade for services. Are there individuals or businesses who would be willing to have you clean their offices for part or all of their payment? Large businesses and corporations may not have the flexibility to “swap” services, but your lawyer, graphic designer, accountant or other consultant may be happy to exchange services.

9) If you need employees, hire part-time or temporary help. Rather than having a full-time bookkeeper or marketing person think of hiring a virtual assistant that you can pay for just a few hours a month. Another benefit to a virtual assistant is that she will have her own equipment and be responsible for her own employment taxes.

10) If you are buying or leasing space and equipment agree to only short-term leases. This helps you control costs and keep your cash flow flexible.

11) How much inventory do you need to have on hand? Don’t tie up money in supplies and equipment that will just be sitting on a shelf.

12) If necessary, work nights and weekends while your business is growing. Many entrepreneurs will keep their full-time job and a part-time job until their own business is financially stable.

Using bootstrapping techniques mean that you are looking at more than just where your money is coming from. Earning a dollar in revenue may lead to only 20 cents in profit. But if you save a dollar in cost savings, that goes 100 percent to your bottom line. Being frugal at the start of your business can pay big dividends in the long run. Bootstrapping can be your best friend when it comes to the cash flow of your cleaning the business!