Small Business Tax Center
Small Business Ideas, Grants &
Plans to Start & Run a Business:

Small Business Grants
CyberSchmooz
Network in Cyberschmooz Community Ask Questions Questions and Answers Share Tips Small Business Ideas List Your Business Business Advice from Idea Cafe Experts Coffee Talk with Experts Starting A Business Business Plan Biz Planning | Sample Plans Small Business Ideas Idea Name Your Biz Name Plan Your Biz Plan Financing $ Starting a Business Do It! Running your Business Marketing Tips Promotional Merchandise Marketing Tips Marketing | Sales | Customers Human Resources HR | Employees | Contractors Legal Forms & Tax Information Legal | Biz Forms Managing a Business Managing | Operations
Financing Resources Financing Your Business E Commerce & Webhosting eCommerce Take Out Info Trade Publications FREE Trade Publications Business Books Biz Books Your Own Business Small Business News Small Biz News Gen X Biz Gen X Biz Work at Home Work @ Home Business Information The Fridge - Biz Info on Ice Destress Send Awards Send Awards & Greetings Yoga At Your Desk Yoga @ Your Desk Fun Guide Guide to Find FUN Online About Idea Cafe Press Idea Cafe has received Idea Cafe in the News Idea Cafe's Kudos Kudos for Idea Cafe Advertise on Idea Cafe Advertise on Idea Cafe Privacy Policy Privacy Policy Contact Idea Cafe Contact Idea Cafe Link to Idea Cafe Link to/from Idea Cafe Join Idea Cafe
Search Idea Cafe Site Directory Site Map Online directory to business resources Biz Web Guide



Expert Answers to Biz Questions

Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.

color business bar

Personal loan rates can give you a headache – Make sure you get the best ones

 

Getting the best rates on your personal loan is an important aspect of exploiting the opportunity of taking out a loan in the first place. However, that’s usually easier said than done, and many people rush headfirst into deals they don’t fully approve up, or just don’t understand. Whether they mistakenly take a loan that ends up being less advantageous, or they just don’t know that they have better alternatives available to them, many people end up regretting the kind of loans they take. Here, we will discuss about the different options you have when it’s time to take out a loan, and what you should do to maximize the efficiency of your loan.

The bank shouldn’t be your go-to

The bank is the lender that just makes the most sense. When someone hears the word “loan” they immediately think of a bank. With that in mind, there are other lenders out there and many of them can offer you a much better deal than the bank can. You need to check out your local lenders as well as online lenders. There are literally hundreds of lenders that you can be looking into, and one of them might just have a deal that makes more sense to your personal situation than what the bank is offering you. Just know that you don’t have to take the first offer that is put in front of you.

Considering a credit union

Joining a credit union has its undisputable advantages when it comes getting loans. By being a member of a credit union, you have much higher hopes of getting a better rate for your loan, not to mention that a credit union might be more forgiving when it comes to having bad credit and stuff like that. Joining a credit union should start by you asking around your neighborhood. Your local community should have some unions you could look into. Also, it’s not a bad idea to ask your employer whether the firm you work for is associated with any union you might have direct access to as an employee.

Peer-to-peer might be for you

Peer to peer is a form of loan that involves you establishing a relationship with a lender, online. You do this through specialized online platforms which work to get people like you together with people that would be interested to loan you money. This sort of loan has the advantage of coming with considerably lower interest rates, but you might also find that the people that you are dealing with are less accountable than a bank employee would be, when they sell you a loan that turns out sour for you.

If you’re going to borrow money, make sure that you are making things as easy as possible for yourself, for when it’s time to pay it back. That’s where most lenders strike and suck the borrower dry, since the latter party is mostly interested in how much money they can get upfront. Playing it smart is a guarantee of a brighter future, so take the above recommendations into account before you apply for a loan.

Google      

Small Business Tax CenterIdea Cafe HomeSign UpBiz Grant CenterCyberSchmoozCoffee Talk with ExpertsPeople in Biz ProfilesStarting Your BizBiz PlanningRunning Your BizFREE Trade PublicationsMarketingFinancing Your BizHuman ResourcesLegal & Biz FormsManaging Your BizeCommerceYou and Your BizGen XWork@HomeThe FridgeDe-StressSend an AwardSend an eGreetingYoga @ Your DeskWeb GuideIdea Cafe in the NewsAbout Idea CafeAdvertise on Idea CafeContact UsPrivacy PolicySite MapSmall Biz News

Copyright 1995-2024, Idea Cafe Inc. Downloads are for personal use only, not for resale to others, and may not be reprinted in any form without written permission from Idea Cafe Inc.

DISCLAIMER: We hope whatever you find on this site is helpful, but be cautioned that it may not apply to your own situation, or be totally current at any given time. Idea Cafe Inc. and all of its current and past experts, sponsors, advertisers, agents, contractors and advisors disclaim all warranties with regard to anything found anywhere on this family of websites, quoted from, or sent from Idea Cafe. and its related sites, publications and companies. We also take no responsibility for comments published by others on these pages.

TRADEMARKS: The following are Registered Trademarks or Servicemarks of DevStart, Inc.: Idea Cafe®, Online Coffee Break®, The Small Business Gathering Place®, Take out Info®, Biz Bar & Grill®, Complaint-O-Meter®, A Fun Approach to Serious Business™, CyberSchmooz™, and BizCafe™.