Credit News

Heaven s Family – Christian Micro-Loan Fund #bad #credit #loans

#micro loan

Micro-Loan Ministry

Micro-loans are a proven means of helping the poorest of the world’s poor rise from poverty with dignity.

Micro-Loan Ministry

People who start businesses must have some capital to begin, and so most need a business loan. But what if you were so poor that you had zero collateral and no banks would give you a loan? Such is the plight of many of the world’s poor, including millions of honest and hard working followers of Jesus. Banks won’t even lend them $200. Shouldn’t their faith in Jesus, however, and a consistent testimony be enough collateral for fellow believers, like us, to trust them with a $200 loan?

Dina Zotica Diaz de Arnao is a Peruvian Christian woman who has benefitted with a micro-loan. She already has a small store in the front room of her little house, but her inventory is extremely limited. Along with the small income that her husband earns from scavenging and selling recyclables, they are just scraping by. Dina was overjoyed to receive a one-year loan of $200 that will enable her to significantly expand her inventory. Her pastor, Jose’ Ernesto Castillo Medrano, has faith in her, and he is administrating her loan.

The other Christian women in Peru who received micro-loans from Heaven’s Family also have small businesses that they are now expanding with our help. When their loans are repaid, the funds will be loaned to other hard-working believers. Micro-loans are a proven means of helping the poorest of the world’s poor rise from poverty with dignity.

Donations to the Micro-Loan Ministry are used for program expenses related to making small business loans primarily to poor Christians who have a reputation of being hard-working and honest in restricted and impoverished nations. Our micro-bankers who are committed believers of Jesus Christ will occasionally extend loans to non-belivers to support their local ministry outreach. All fundraising and general/management expenses are paid from from the general fund of Heaven’s Family. Our micro-loans are generally administrated by the borrower’s pastor who is paid for administrating the loans by means of the interest earned.

High Interest Rate on Auto Loan #home #loan #rates

#interest rate for car loans

Advice About High Interest Rate on Auto Loan

I just bought a car and am getting charged 22.4% interest. What is the highest APR for a 2005 dodge truck in Texas?


  • Caps on auto-loan interest rates are set by the state.
  • Understand whether your loan has a pre-payment penalty before you sign the papers.
  • Consider refinancing your auto loan.

Without reviewing a copy of the agreement you signed with your lender, I cannot answer most of the questions you pose in your inquiry. However, I will try to provide you with some guidance to assist you in determining the best way to reduce the impact of the high interest rate you are being charged on this loan. The best advice I can offer would be to consult with a consumer rights attorney licensed in Texas who can carefully review your loan agreement and interpret the contract with respect to Texas finance law. A brief consultation with an attorney to review your purchase agreement should not be very expensive; the Texas State Bar Association should be able to provide you with a referral to an attorney in your area who can assist you in this matter.

In regard to the interest rate being charged on your auto loan (22.4%), I will say that rate is exceptionally high for any auto loan. To my understanding, Texas law generally caps the annual interest rate charged on used vehicles at 27%. Any interest charged above this legal amount is referred to as usury, though the maximum interest rate that can be charged under Texas law varies drastically depending on the amount and type of loan. In addition, there are many exemptions to the Texas usury laws; for example, if the lender is a national banking association, it may be exempt from many state usury laws. Even if your lender is not exempt from the Texas usury laws, the 22.4% rate it is charging you is below the 27% limit set by state law, so your loan is probably within acceptable parameters. However, if you think that the lender misrepresented the interest rate, or if you feel that the interest rate is improper for any other reason, I would encourage you to consult with an attorney to discuss your rights and possible remedies in this situation.

Whether or not paying down the balance of the loan is a wise choice largely depends on the terms of the loan you signed. Some auto loans contain a prepayment penalty, which requires that you pay all or a portion of the anticipated finance charge if you decide to pay the loan off early. However, many loans do not contain a prepayment penalty, so you will need to carefully review the terms of your loan agreement to determine whether or not your loan contains such a clause. If your loan does not include a prepayment penalty, I would definitely encourage you to pay off the loan as soon as possible so you can reduce the total amount of interest you pay. Even if you find that your loan does have a prepayment penalty, it may still make sense to pay the loan off early if the penalty is only a portion of the total finance charge. What action makes the most financial sense really depends on the terms of your individual loan, so you will need to review the loan and make a decision based on what you find.

Given the high interest rate you are currently being charged, you may want to consider refinancing your current auto loan to try to obtain a more favorable rate. Many banks will work with consumers to refinance their auto loans, providing them with much better terms than those offered by the original lender. I would encourage you to speak with various banks about the possibility of refinancing your current auto loan, at least to determine if refinancing is an option. Given the current problems in worldwide credit markets, obtaining a new loan may be difficult, especially if your credit history is less than perfect. That said, it never hurts to explore your options; you may find a much more affordable loan is available to you. To learn more about refinancing auto loans, I encourage you to visit the car loan refinance section of our website.

To read more about auto loans, you should visit the Auto Loans page .

I wish you the best of luck in finding a way to reduce the cost of your current car loan.

I hope that the information I have provided helps you Find. Learn. Save.

Have Bad Credit Need Loan #no #credit #auto #loans

#need a loan with bad credit

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Interest rates are billed only on the actual sum used by way of the debtor.

Simple Interest Loan Early Payment Calculator

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Graduate Student Loans #auto #title #loan

#graduate school loans

Federal Direct Loans

A Direct Loan is a federally guaranteed loan. Graduate level students are only eligible for Federal Unsubsidized Loans beginning with the 2013-14 Academic Year. An unsubsidized loan is a loan in which the government does not waive the interest and it does accrue while the student is in school. You will have the option to pay this interest or to have it capitalized. The principle loan payments are deferred while a student is enrolled at least half-time and repayment on the loans does not start until 6 months after the student drops below half-time enrollment, graduates or withdraws.

  • A graduate level student may be eligible $20,500 in unsubsidized loans per academic year.
  • The current interest rate on a Direct Unsubsidized Loan is 5.41% with an origination fee of 1.072%

To qualify for this loan, you must file a FAFSA. The Unsubsidized Loan is a non-need based loan and the majority of students will be eligible for this loan. Once we have reviewed your FAFSA information, this loan will be listed on your award letter.

To complete the application process as a first time borrower, you will need to complete a Direct Loan Master Promissory Note and complete Direct Loan Entrance Counseling. Visit and sign in to complete the process.

Federal Direct Grad Plus Loan

The Federal Grad Plus Loan is a federal loan with a fixed interest rate of 6.41% with an origination fee of 4.2880%. You must file a FAFSA and borrow the maximum amount of loan through the Direct Loan program before you will be eligible for a Grad Plus. This loan is also based on your credit history, so it is possible that you may be required to have a co-borrower.

Payments on this loan may be deferred while you are in school and enrolled at least half-time in a graduate program (5 hours per semester during Fall and Spring terms and 3 hours during the summer term). Interest does accrue on this loan during the deferment period. There is no grace period for the Grad Plus loan. It will go into repayment as soon as you drop below half-time enrollment, graduate, or withdraw from school.

  • The maximum a student may borrow in this program is your cost of attendance minus other financial aid you have received. If you are unsure of the amount you are eligible for, contact our office for help
  • To apply for a Federal Grad Plus Loan you will need to sign in and complete the PLUS Request Process at
    • If approved, you will need to complete a Grad PLUS Master Promissory Note AND Grad PLUS Loan Entrance Counseling at
    • The MPN and Entrance Counseling only need to be completed the first time you are applying for the Grad PLUS Loan and it is not necessary to complete in subsequent years. However, you do need to Apply for the Loan each year you wish to receive it.

Graduate Loans #fast #money #loans

#graduate loans

Graduate Loans

Hood College students enrolled in graduate degree programs or the Teacher Certification program can apply for a Federal Direct Loan to assist with educational expenses.

How Do I Apply For A Federal Direct Loan?

How Much Can I Borrow?

  • Your loan eligibility is limited to the cost of attendance (tuition, fees, books and living expenses) less any other financial assistance you are receiving. A student must be enrolled for at least three (3) credits in a given semester. The maximum annual loan eligibility in the Federal Direct Loan Program is as follows:

The Office of Financial Aid will determine the amount you are eligible to borrow.

Can I Apply For Maryland State Scholarships?

  • Residents of Maryland may be eligible for the following scholarships:
    • Maryland Developmental Disabilities and Mental Health Workforce Tuition Assistance Program
    • Workforce Shortage Student Assistance Grant Program
    • Senatorial and Delegate Scholarships
  • For information and applications contact our office or the Maryland State Scholarship Administration at (800) 974-1024 or (410) 260-4500 or .

Hard Money: What is it and How do Hard Money Loans Work? #calculate #loan #payment

#hard money loans

Hard Money: What Is It and How Do Hard Money Loans Work?

Most real estate investors hear terms that they don t understand in the beginning. One of these terms, hard money. is little understood, and frequently asked about. Here is a great explanation of hard money.

What Does Everyone Mean by Hard Money? What is Hard Money

Hard money lenders (HMLs) are typically private individuals or small groups that lend money (Hard money) based on the property you are buying, and not on your credit score. Usually these loans cost (percentage-wise) much more then an average mortgage. often times up to twice what a regular mortgage does, plus high origination fees.

Who Needs Hard Money

Developers and house flippers, amongst others, will use it to fund deals because you can often borrow up to 100% of your purchase price! On the other hand, hard money lenders will frequently require you to back up your loan with real assets. If you know you can buy a property and turn it quickly at huge profit, and you can t get a standard mortgage, it might be one way to go. Some investors use hard money to get into the property, do some quick fixes to raise the property value, then get a new loan (based on the property s new, improved value) from a bank to pay off the hard money lender.

In Other Words.

Hard money loans are easily accessed and cut through the red tape. If you can develop a relationship with a LOCAL hard money lender, you can get funds within a couple days, and sometimes with no appraisal or other costs (except for origination fees of course).

Now different HML s have different requirements and protocol. There is a local HML that only charges 12% interest and 1 point origination if you keep it over a year and 2 more points if you keep it less than a year. He only does 30 year notes, and obviously he wants you to keep it. He has over 1100 notes, so he doesn t want the hassle. He wants his money to stay loaned out. I have also worked with another local HML who doesn t charge any points, but he s extremely fickle and can be hard to work with.

Now the typical HML will charge somewhere right around the usury rate. In Texas its 18% annual, so most HML s will charge 5% origination and 13% interest on a 1 year note or no points upfront and 18% interest with a shorter call. Now they can get around usuary by shifting their origination fee into a commitment fee (little different protocol), but most HML s don t know this.

The beauty of HML s is that the loan is normally not based on your credit score (especially with local lenders) or at least not on your credit worthiness (assets and income), you can receive funding within a matter of days (normally about 7-14 days) rather than 30 days+, and you can get a loan on any piece of junk that you find. You also are not normally dealing with a processing team. You deal directly with an individual lender. If he or she says yes, then you have the loan. This is quite advantageous versus going through an entire loan committee process or underwriting process.

HML s on longer term investments are not a good idea, but for short term flips, rehabs, or for the initial purchase, they can be a very strong tool. I started my investing using HML s, and have made very good money using them. I now use mostly a line of credit from the bank, but it took me several years to work into that. I also now do some local hard money loans to other investors.

Thanks to Ryan Webber for his explanation in other words (from our forums )

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Guarantor financial definition of Guarantor #loan #for #business

#guarantor loans



A party who will guarantee repayment or performance of a covenant .


A third party who promises to provide payment on a bond. loan. or other liability in the event of default. While many guarantees apply to debt instruments. they may also be used for day-to-day expenses. For example, a parent may be a guarantor for an adult child and promise to pay rent to a rental agency if the adult child does not do it. Banks often serve as guarantors on behalf of certain clients, but, just as often, private parties serve as guarantors and promise payment on private loans. Guarantors reduce the risk to loans and liabilities, and usually improve the credit agency ratings of bonds.


If lenders are concerned about your income, your credit history, or other risk factors when you apply for a loan, they may require a guarantor, or cosigner.

The guarantor signs the loan with you and agrees to pay your debt if you default. For example, lenders may fear that your income may not be high enough to meet your payments if you encounter any unexpected financial setbacks.

Laws governing who may serve as a guarantor vary from state to state. Some states require that your guarantor be a resident of the state where you’re obtaining the loan, while others will accept guarantors from out of state as well.

Guaranteed Unsecured Personal Loans Loan #perkins #loan

#instant personal loans

Are you at the right web site?

Is this for you?

Answer these questions.

1. Are you are looking for an unsecured loan, business loan, education loan, or home loan?

2. Have you have been turned down in the past?

3. Do you have bad credit history, or no credit history?

4. Are you are in a position where you can make your payments on time?

6. Have you been employed for at least 3 months at your current job?

7. Even though you have bad credit, are you willing and able to make payments on time?

8. Are you serious about re-building your credit?

9. Have you thought clearly about you monthly bills and how much your payments may be? Can you afford it?

If so, we can help!

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to continue

If your credit is not too bad or your not sure whether you can be approved by low cost lender, it’s free to apply online click here

For some it can be tempting. to those who may feel they need not repay, as nothing can be re-possessed or taken from them. Even another bad item on their credit report wouldn’t even make their credit any worse. so it can be tempting, especially when times are tough –

Guaranteed Payday Loans in 1 Hour #payday #loan #lenders

#small loans fast

Guaranteed Payday Loans in 1 Hour

Are you in need of some quick cash? Then you might want to try getting payday loans in just one hour. That is arguably the fastest way that you can get some cash. Just as long as you meet the requirements of the companies that give them out, then you should get the money that you need. Do not be too worried about the requirements. Statistics show that about more than 80% of those who file an application get approval.

Requirements for Fast Cash Advance Loans

Now, you might be wondering about the requirements for borrowing money Some companies might ask for additional info, but normally most legitimate payday lenders would only need the most basic details such as your name and date of birth and most importantly the information such as your employer’s name and your savings account details. Since guaranteed payday loans are based on your employment and the paychec, the information about the employer is crucial. The bank account in turn is needed because that is how the money is going to be transferred.

Easy Requirements

When you compare the requirements for a fast short term loan, they are far less demanding than what other financial institutions such as banks expect of you when you are trying to borrow money from them. They would seek all kinds of documentation first. Just getting all the necessary paperwork would eat up a great amount of your time.

No Credit Check

Aside from the fact that there is far less information that is going to be needed to apply for guaranteed payday loans in 1 hour, there is also no credit check. You do not have to fax anything or write a check for the amount that you are borrowing along with the fees.

Fewer Requirements for Faster Processing

The obvious advantage is that you can expect to get the money much faster with far less trouble than what you would have to go through if you were getting some other financial product. You can apply for your guaranteed payday loans while at home or at work as long as you have access to a computer.

One Hour Processing

When you go online and you check out the websites of companies that offer online personal loans, one of the first things that you notice is the claims of how fast they can process your application. It is quite common to see one hour processing time ads. There are some that go on to claim that they can do it even faster than that. You know that it can be fast and instant, but can you trust it to be that fast?

How to Speed Things up Even Further

If you would like to get your guaranteed payday loans right away, then the first thing that you need to make sure is that you should provide all of the needed information accurately. If you withhold some details, then that might delay the processing or even end up getting your application denied, though that is something that legit payday lenders rarely do.

Guaranteed loans no guarantor no broker fees needed instant approval #start #up #business #loans

#bad credit loans no guarantor

Loans no guarantor no credit check:

  • Online application and instant approval without any credit check.
  • Highest success rate means guaranteed loans .
  • Online funding for UK citizen.
  • Unsecured loans for any purpose.
  • Very bad credit also accepted.
  • Loan without guarantor .
  • Choose easy repayment schedule.
  • Lowest APR rate.
  • No upfront fees, no broker, no advance instalment
  • People on benefits and self-employed are also accepted

Unsecured loans will be given for individuals who badly need cash, but do not have any property or asset that could serve as surety or mortgage or use as collateral.

One may want to pay off his/her debts, refinance one’s loan, one may source house improvement project, or one may even wish to go for a vacation, a personal loan is the best option that can help in such needs.The loan can be taken out for the longer period of time which will help to make your payments smaller.

Reduce the rate of interest you pay on high-APR store cards, credit cards, loans and overdrafts by switching them all into a lower-APR consolidation loan.