Monthly Archives: May 2018

Litigation Financing Loans

The process of litigation involves several, complicated issues. It may take a while before the case is settled. Many plaintiffs lack the resources to appoint a good lawyer and invariably opt for out of court settlements. Today, this scenario is changing. A number of litigation financing companies have come forward to provide financial aid. Litigation financing companies also provide monetary help to attorneys and law firms that are awaiting settlements. Litigation loans are offered in the form of cash advances, repaid after settlement.

Pre-settlement litigation loans are generally offered to plaintiffs, on a non-recourse basis. The plaintiffs do not have to repay the cash advance if they lose the case. However, if they receive any compensation, they will have to repay the loan, by giving a portion of the settlement amount to the financing company. Many financing companies offer litigation loans to attorneys on a recourse basis. After the case is settled, the attorney has to repay the loan amount, along with interest. The company may allow the attorney to repay the interest amount after the settlement of the case.

Post-settlement loans can offer huge financial relief, when the settlement is delayed due to some reason, after the case is settled. It is relatively easy to obtain this form of loan. Post settlement loans are usually short-term loans.

The fees and interest rates attached to a litigation loan may vary, depending on the financing company. There are financing companies that offer litigation loans on a flat fee basis. The financing company determines the loan repayment amount at the time of offering the loan. A few financing companies offer litigation loans on a recurring fee basis. A fixed monthly fee is charged, depending on the loan amount.

Tips Of How To Get Approval For Plastic Surgery Financing

Although many people would want to undergo plastic surgery, the current economic climate does not allow them to fulfill their wish. The high cost of living gives you no room to set funds aside in order to undergo this medical procedure. Therefore, most people opt to acquiring a loan for plastic surgery in order for them to be able to fulfill their objective.

There are various ways that you can use in order to increase your chances of acquiring financial help. However, the most important thing is to ensure that you acquaint yourself with the procedure that you want undertake before committing your hard earned cash onto it. Always ensure that you are aware of the overall price of your preferred method.

When you intend to acquire a financial credit in order to undergo this medical procedure, it is important to note that this credit is not like any other personal loan. There are special financial credits that have being set aside by financial institutions to cater for these kinds of medical procedures. These financial credits can be classified into two namely; secured and unsecured credits.

When you opt for a secured credit, the lender requires you to provide a collateral pledge as a proof that you are going to repay the money. There are various assets that are of financial value that you can place in order for them to act as a security in case you are unable to repay the money. This includes assets such as a home, a car or any financial instrument that can be able to secure the credit.

However, in the case of unsecured credit they do not necessarily require any kind of collateral, but this type of credit has a higher interest rate and tight payment schedules. Nonetheless, financial institutions are obligated to check your past financial record to ensure that you do not possess a bad credit history. As for unsecured credits, it is a mandatory that you ought to have a specific amount of money in your bank account as a proof of you being able to meet your financial obligation.

There are various ways that can increase your chances of getting a credit with your preferred financial institution. Improving your credit score is one sure way of getting an approval for your credit request. Most financial companies that provide funds for this specific medical procedure are known to pore over your credit score very closely in order to determine whether you are capable of repaying the loan.

When searching for credit for this medical procedure, ensure that you find a reputable financial company that will provide you with affordable payment rates. Most financial institutions require that the lender ought to be 18 years and above with a steady monthly income which depends on the amount that you intend to borrow. In addition to this, a majority of these financial companies require you to be a native U. S citizen.

It is important to note, however, that majority of clinics do not provide credit plan schemes. This is because most patients prefer to get a loan for plastic surgery courtesy of the clinic where they are thus able to pay the credit in installments. However, most clinics discourage this kind of payment procedure and require you to pay fully the amount of the procedure in order to ensure that you can be able to afford the cost of the procedure.

What Type of Financing Loan

This question often plagues small business owners. Funding is not hard to come by these days but there are always strings attached, especially to unsecured sources of funds. This type of funding is available with no need to furnish guarantee or collateral and may tempt businessmen who are faced with cash crunches every now and then.

There are other options as well. One can just approach family and friends if the amount involved is not large. However, this may not be the best business financing option. Loans that take days or months to process and require collateral are best given the go by. SB owners need cash immediately and that too without any collateral. Before one applies for such loans one must know how to apply small business finance methods.

First, one must assess the business position. It is necessary to know about repayment capabilities and whether such repayments would impose a fresh burden or whether deployment of finance would result in greater cash flow that would take care of repayment of installments. Smart businessmen will find out the position of creditors and debtors and if they have funds incoming, they know the loan will not impose a burden. Smart businessmen may also make use of financing for business to expand business and prepare a solid plan for implementation of funds. Businessmen who simply apply for and get loans to pay off debts may find themselves in deeper trouble unless they have a plan or get advice from experts on using finance to get out of an untenable situation. This done the next step is to know how to apply.

One can just walk into the offices of a business finance lender. This means putting aside one’s regular business. The process could be extended over several sessions that involve waste of further time. Lenders may ask for a variety of documents from the borrower. The much better way is to apply online. The process is simple enough. One finds a suitable lender ready to provide funds for working businesses at short notice without any security. Just fill a form on the website and submit it. The lender gets in touch with the borrower and asks for scanned copies of proof of residence, proof of business ownership and copies of bank statements to submit along with the online form. One may specify the purpose for which the funds are needed but it is not necessary for approval of the loan. One thing to keep in mind before initiating the final application process is to find out the processing charges and upfront fees charged as well as the rate of interest. Some lenders of unsecured loans may ask for interest that could be as high as 50%. 20% is a fair rate.

Best Options For Finance Loans

This ever revolving world we live in does not only rotate on its axis, but every move we make is based on our financial capabilities. Admittedly, money is important in our daily life. From buying our basic commodities to looking for capital for a business and paying off loans and other mortgages, money is the much needed commodity.

At times, we find it hard to come up with a lump sum for a certain purchase price such as that for a dream house and lot, car, property and business. This is where we turn to other options for coming up with the amount. This is where finance loans come in.

Sources of Loans

There is a lot of money making generating revenues where you can acquire your financial loan. Every source will best suit your specific business need. You may approach your relatives, friends, parents for a fast loan. Some go to banks, financial institutions that offer loans, credit cards, investors and government agencies that lend money to businesses.

It does not matter if you are merely starting a business or merely looking for additional capital as you expand an already existing one. All of the above-mentioned sources provide you with the money that you need to operate your business. What is very important if you are a businessman is that you have planned, projected how much money you are willing to put up in your business and the return of investment you are expecting to get. Business foresight is the key to effectively pay off your loan and in the end, reap the profits from all your hard work!

Kinds of Financial Loans

Debt finance and equity finance are the two kinds of financial loans known in the world of financing. Debt finance covers loans acquired by means of credit cards and bank loans. In other words, it is money loaned to you in aid of your business or mortgage. On the other hand, equity finance is an amount invested in some business like a stockholder. In this case, no repayment is necessary, only losing certain rights within the company or giving up some degree of control in the business.

In getting a loan through debt financing, it is important to note that knowing how much you have borrowed and how much can you pay in monthly payments is crucial when operating a business or paying your property.

Tips in Acquiring Loans

It is best that you will be able to determine what kind of business you will be putting up, or what kind of house you will be purchasing. This way, you will be able to calculate an estimate for the payments.

Borrow only from a reputable bank, financial institution of lending firm whose credibility has been tested and proven through years of experience. Also, be on the lookout for companies who can best help you in this aspect. Watch the news, read the papers, and better yet consult the internet regarding these financial institutions.

Questions on Franchise Financing

You are quite taken with the idea of starting a franchise. You’ve done extensive research, hired a franchise lawyer and already have a business plan in place. The next thing on your list is funding the franchise. Many Canadian franchisees often discover that franchise financing can be as testing as the steps that precede it.

You should, of course, understand how the Canadian franchise sector is regulated and the kinds of protection and disclosure clauses that exist for both franchisee and franchisor. In Ontario, these rights are listed under the ‘Arthur Wishart Act’ and there are similar laws in place in other Canadian provinces. It would be a wise move to look at the appropriate legislation in detail with the assistance of your franchise lawyer.

You may have several queries regarding Canadian franchise finance loans, some of which are addressed below:

Q: Is it possible to buy a franchise venture without formulating a business plan?

A: It is not advisable to enter into any business venture without a business plan. Even if you are not involved personally in preparing it, it would be sensible to participate in its input and processing. This can have the effect of raising your awareness on practical and financial issues connected to your proposed franchise.

Q: Are appraisals necessary?

A: Yes, but the cost of the appraisal is certainly worth it as it boosts the lender’s confidence in the project and also reduces your calculated financial commitment to the franchise.

Q: What would be the typical interest on a Canadian franchise finance loan?

A: Currently interest rates are in the range of 5% to 6%, which is considered excellent for start-ups. Of course, your franchisor’s brand reputation and depth of market penetration will also count.

Q: Where can you avail these loans and interest rates?

A: These are available through the CSBF or BIL loan, also sometimes referred to as the Canadian Government Small Business Loan. Most franchise businesses are financed through this avenue. Of course, you may want to consult a reliable and trustworthy advisor experienced in franchise finance who will arrange this financing for your franchise venture.

Q: Is the CSBF loan the sole method available for franchise finance?

A: No, you have other options such as equipment finance to acquire fixed assets for the franchise, cash term loans and of course, your own money that you can invest in the franchise. All business ventures are typically financed by a component of debt or loan, along with the owner’s contribution of equity.

Q: Is it possible to obtain a franchise loan without providing a personal guarantee?

A: No. However, the CSBF loan needs a personal guarantee of just 25%.

Q: Can a franchise business be financed without a down payment?

A: No, definitely not. Whether you a starting a small restaurant franchise or a large manufacturing unit, all Canadian lenders will check out the owner’s financial contribution in the venture. As a franchisee, you have to strike a balance on how much to invest in the franchise.