Month: December 2019

Personal Loan FAQ for Financing

by Erik Vogt
When the economic crisis hits our pockets, we get aimless, don’t we? However we see a light at the end of the tunnel when the opportunity to make a personal loan to negative. That is, having a personal line of credit even with the dirty name. But first you need to evaluate your entire financial problem before making any decisions.

Most importantly, in your financial planning, it is clear

money loan Which bills will be paid if your personal loan is approved. Financial institutions often tend to be more careful in releasing credit to a customer who has a compromised name. However, this does not mean that your request will already be automatically denied. But if your request is approved, please be aware that the interest rate tends to be higher compared to other rates applied to loans for people without limitations in the square. Still, many people are looking for a personal loan for negative loans, as this option becomes a great resource for those in a difficult financial situation, and is seeking urgent credit to repay their debts. Another good reason to apply for a personal credit is to be able to get the name off PCS / SAROSA, since with the clear name the loan rates drop sharply. This is because the bank or finance company begins to see you as a good payer. Thus, your profile acquires a lower risk of default. Many customers wonder why being negated ends up generating above average interest? Well, this is because the bank recognizes this customer with the highest degree of default risk. And to compensate for this factor he ends up asking for a higher rate to offset the risk. The following are the most frequently asked questions about personal loan for negative to answer some questions.

What is the best way to pay me off my debts?

The best way is always to organize your spending and try as hard as possible not to default again, but if this has happened for some reason the best thing to do is to look for the institution / company where the debt was generated and try to make a negotiation to get it. pay off the debt. When the client tries to negotiate his debt with the lending company both sides come to an agreement. The name and document (in the case of individuals, CPF) are taken from credit restriction sites within 3 business days. However, it is important that this negotiation be honored with the due payment. That is, work on your home planning and make an affordable financial negotiation. One option for this type of deal would be to opt for longer installments with smaller installments. But that you can pay over time. Having done that is much simpler and cheaper to take out a personal loan service for negatives, rates fall, making interest rates cheaper.

How Does Online Query Work?

Hit the doubt and would you like to know if your name is dirty or not? Count on Boa Vista PCS, where you can view for free through the site if you have any financial backlog. With a quick and convenient access through the online portal you can register and have a login and password, then with only your social security number you can see your profile in the market. Knowing the status of your name is very important since applying for a loan our partners with the credit protection agencies analyzing the existence of pending issues and their payment behavior in the market. So if you have a dirty name do not try to hide this information in your registration, as all our partners can verify later.

Can I Make a Loan Even Being Negative?

Yes! But your chances of getting an approved loan will be lower and with higher rates. However, it is possible to place an order even if it is negative and direct this money to clear the name. This way, when you apply for a new personal loan, the rates are lower and most banks and financiers can accept your profile. There are currently 2 credit categories for negative interest rate negatives: Secured Loan: When the customer can place their home as collateral loan. Car Loan Guaranteed Loan: This is possible if the person has a car or truck paying off, and can place one of the two as collateral.

How to Calculate How Much a Capital Loan is Needed

by Erik Vogt

How to Calculate How Much Capital Loans You Need - Every type of business will certainly need a lot of funds and capital to be able to grow and develop. There are many ways to get a lot of capital, from filing loans to banks to capital loans from P2P Lending. But how much funds are actually needed? Calculating how much capital loans are needed is indeed not easy.

You might think of asking for more funds than you actually need, assuming that it will help you in the long run by having extra capital. However, more funds means having to work longer hours and more difficult in returning the money to investors. Of course, borrowing funds according to business needs will be more profitable.

However, if you are confused about calculating funding requirements, then here are some tips that can be practiced in order to find out what funding is really needed.

How to Calculate How Much a Capital Loan You Need

1. Determine the Purpose

When making a financial plan, make sure the business goals are set. Is it just to build a brick shop or to create new products. Set goals as detailed as possible when presenting your goals.

This will help you focus on what you really need to be purchased to achieve your goals. Think of financial plans which are then converted as a form of budget; This will provide clear guidance on what to do.

2. Determine the Planned Timeline

capital loan

The financial plan must be accompanied by a planned timeline. Do your best to estimate the grace period for sub-goals that you need to achieve on your way to your main goal. Think of this as a tactic that needs to be developed to achieve a long-term strategy. Planning a grace period will also make it possible to better calculate capital requirements. This will encourage you to see periods that might force you to spend extra funds.

Consider the time period when more capital will be needed to fund a new project or create a new product, then suggest accordingly.

3. Calculate your financial needs

financial loan

After creating goals and set deadlines, be prepared to calculate your financial needs. Include everything needed to achieve your business vision. There are three different capital categories, namely; fixed capital, working capital, and human capital.

Fixed capital consists of durable goods, usually used during the operational period. Plants, tractors and factories are examples of fixed capital. Usually, fixed capital is expensive and not liquid, but it will be very necessary to support your business operations.

Working capital consists of disposable producer goods, such as raw materials, work in progress, and fuel. Whatever is used in an act of production is considered working capital. Because of its characteristics, working capital can be more difficult to manage. So prepare well when calculating how much capital you need. 

Human capital can be easily defined as people who work for your company and their respective skills, educational background, health, and others.

Like fixed capital and working capital, spending on human capital needs to be as detailed as possible. Payroll costs, budget for more human resources, etc. - record everything and make a range of costs.

Planning how much money is needed may sound very time-consuming, but believe that this will help you have a more thorough preparation over time.

Once you get the needed capital loan, you can also re-evaluate the existing calculations so that they remain on the right track. So make as much detail as possible!

After you finish calculating the funds needed, then the next time to look for the loan. Koinfidence provides opportunities for your business to continue to grow with a venture capital loan from ComeBusiness.

Online business people who have a strong vision in increasing sales from time to time are entitled to get loans of up to Rp 2 billion with low interest ranging from 0.75% to 1.67% per month. Very interesting, right? Let's submit a loan to Koinfidence.

Loan Consolidation – What it is when it does not pay to compare

by Erik Vogt
Loan consolidation, loan consolidation, debt consolidation, loan refinancing… names are many, but in all cases the same. Several loans are merged into one – this can reduce the monthly payment, simplify repayment and in some cases also reduce the interest rate.

When it pays to consider consolidating loans

Are you repaying a loan to your bank , running out of an overdraft , credit card and using a loan from a non-banking company ? During consolidation, you take one new loan to pay off all the repayments so far. In most cases, this leads to a reduction in interest rates (you pay less on interest) and a reduction in the monthly payment. It is important to beware of any early repayment fees for any of the existing loans. If you manage to repay all loans on time and properly, and your incentive is to “just” save, you have a relative advantage. You have time to consolidate (so you can quite calmly choose) and especially you are an interesting customer for some banks. We recommend monitoring the actions of new banks.

When does consolidation not pay off?

When does consolidation not pay off?
  1. In some cases, consolidation may result in a high interest rate loan. This risk is highest when you want to refinance credit card loans or non-bank lenders – high interest rate loans. In these cases, it is preferable to try to get a classic bank loan .
  2. If you are listed in  the BRKI debtors’ banking registers , approval of refinancing may be a problem.
  3. In the case of high debts, it is more advantageous to use an American (non-purpose) mortgage. This is a loan secured by real estate, the advantage being a lower interest rate compared to conventional refinancing.

At what bank is loan consolidation the most advantageous?

At what bank is loan consolidation the most advantageous? This cannot be simply said, the interest rate, the amount of repayments and other conditions depend on a number of factors. The most important are:
  • Loan Amount  – During consolidation, you can either ask for an amount to fully cover your debts or get extra funds.
  • Debt structure  – do you owe your credit card, overdraft or non-bank loan overdraft? The higher the RSPN for consolidated loans, the worse the conditions.
  • Record in the register of defaulters  – people with a record in the register of defaulters pose a higher risk to the bank and therefore there is a risk of either refusal of refinancing or higher interest rates.
Most Czech banks offer refinancing. The grumpy first advises to ask for a refinancing bank that you owe the most or have the longest relationship with it.

How to apply for loan consolidation?

How to apply for loan consolidation? You can combine loans and loans in several ways:

1. Ask the bank directly for consolidation

Directly ask your bank to consolidate loans. You tell her who and how much you owe, and depending on how much you need to borrow. The bank will ensure payment and you repay directly. Physically, you will not get the money. The disadvantage of this method is the laboriousness of paperwork and possible unwillingness to cooperate with creditors or a new bank.

2. Take a new loan and pay off the debts yourself

You ask the consolidating bank for a new loan and repay all existing debts from the money raised. This option is much simpler and quicker, however, the bank accesses it only for very creditworthy clients. In fact, in one moment you will actually double.

3. Take advantage of a pre-approved loan

Some banks offer pre-approved loans in internet banking or through classical letters. These are tenders created automatically for each client, often with a better interest rate and almost always with less administrative burden. You can help yourself to get a similar offer – banks evaluate potential borrowers according to their behavior. Just increase your bank account limits and generate high sales by forwarding money from one account to another. This creates the impression of a rich client with a low risk profile.

Consolidation approved, what debts need to be repaid first?

Consolidation approved, what debts need to be repaid first? After getting the money, pay off the debts with the highest APR (annual percentage rate of charge) first. The percentages of interest and other charges vary widely, but in general, you should repay the debts in the following order: Loans from non-banking companies you found on the Internet, at bus stops, in newspapers, and so on.
  1. Credit Cards
  2. Overdraft
  3. Non-purpose loans
  4. Special-purpose loans
This order is indeed only indicative, it is always necessary to find out the specific APR of your debts. Where possible (credit cards, overdraft), we recommend canceling the products after repayment. First, in some cases you avoid paying a regular fee, but mainly do not succumb to the urge to re-debt.

Building loan comparison & calculator for current interest rates

by Erik Vogt
The building loan is a loan that can be used to finance construction projects or to buy a property or condominium. In principle, it is earmarked so that it can only be used for the purposes specified in the loan application. For this reason, customers have to submit cost estimates for the anticipated renovation costs or the list of the total costs made by the architect to the bank. For the later payment of the loan amount, the invoices of the craftsmen or property developers or the architect’s completion report are then necessary. The bank can then be sure that the building loan has actually been invested in maintaining the value or increasing the value of the property and has not been spent otherwise. This is the only way that the land charge entered in the land register of the property is also valuable and actually serves to secure financing. On the basis of the applicant’s documents, the banks draw up a financing plan that shows the necessary financing expenditure minus the equity capital or own contributions. This necessary credit requirement is then the basis for the creation of a loan offer, which is created individually for the customer by using different loan types.

An overview of the requirements

bank In order to be able to use a building loan, various requirements must be met. The most important requirement is that the potential borrowers can pay the monthly installment from their income. To do this, the income must be sustainable. Parental allowance, unemployment benefit and child benefit for older children are often not recognized by the banks due to the time limit. The bank then draws up a household account based on the monthly income, which can be proven by means of proof of salary, pension notification or the balance sheet for the self-employed. The income is now compared to the monthly recurring expenses, whereby the cost of living is generally estimated by the institutes as a flat rate. The loan can only be granted if the budget is positive. A further requirement for the building loan is a correct Schufa information, which must not contain any negative characteristics. For self-employed people, the banks often get additional external information, which must also be positive. Ultimately, however, the bank must also receive sufficient security for the loan it has granted. Since the registration of land charges is usually chosen for the financing of a property, the property must have at least the value of the loan amount, ideally, the amount of the loan is even far below the value of the property, because then the security of the bank is greater, which is positive will affect the interest rate. For this reason, borrowers should always be able to demonstrate equity in new construction projects or purchase requests in order to reduce the loan amount and the subsequent borrowing costs.

Building loan comparison and calculator – top offers online

Building loan comparison and calculator - top offers online Here you will find our comparison and calculator for construction loans. Find the current top interest rates and conditions from the best providers on the market. Simply select your desired dates above and click on “Compare mortgage lending”.

Interest calculation for a building loan

Determination of the interest for a building loan The interest for the building loan is probably the most important feature to watch out for. After all, the interest charge is decisive for the amount of the monthly installment and the calculation of the total cost of construction finance. The building rates charged by the banks are of course primarily based on the general market level. The central bank’s key interest rates reflect the refinancing costs of the banks, which form the basis for calculating the credit margins. In addition, since the introduction of the Basel II equity guidelines, the borrower’s personal credit rating has also played an important role in determining interest rates. The better the customer’s credit rating is determined by the bank as part of the scoring, the lower the interest charged on the loan. The reason for this is that banks only have to set up low, cost-intensive provisions for customers with first-class credit ratings than for customers with low credit ratings. The basis for the credit rating calculation is information on income, length of employment, age and marital status. The Schufa score and the intrinsic value of the collateral also play an important role.

Annuity financing

Annuity financing One of the types of loans for home finance that is used most frequently in Germany is the annuity loan. It is particularly characterized by its long-term nature because this type of loan can have a term of up to 35 years. The individual term is calculated based on the desired repayment amount, which is given as a percentage of the loan amount. Repayment rates of 1-5% of the initial loan amount are often available to the customer, although today even loans with a repayment option are available. If the chosen repayment amount turns out to be wrong after the contract has been concluded, it can be changed once a year free of charge. The interest can be fixed for the annuity loan between 5-20 years. During this fixed interest period, the rates for the construction loan also remain constant, so that customers receive planning security. Especially in low-interest phases, attention should be paid to the longest possible fixed interest period in order to reduce the risk of interest rate changes after the fixed interest period has expired. Applicants for the annuity loan should also make sure that the longest possible availability is agreed so that the loan only has to be used in full after one year without the commitment interest being charged. Furthermore, the financing should be equipped with a special repayment option so that the loan can also be repaid early.

The cost and fees for the loan

The cost and fees for the loan There are various costs for taking out a building loan. On the one hand, these are the interest costs, which depend on the market level and personal creditworthiness. The banks also charge processing fees and valuation fees, each of which can amount to up to 1% of the loan amount. Some direct banks have now started to waive both these processing fees and the valuation fees. A comparison of the offers is very recommendable in the case of construction financing – due to the complexity of the offers and the different life situations. The effective annual interest rate, which should be calculated for the entire term, offers an important comparison option because it contains not only the nominal interest rate but also the processing fees. However, valuation fees or account management fees and insurance costs are not included in the effective interest.