Personal or Unsecured Loans

Personal loans, or ‘unsecured loans’ involve taking a loan or borrowing without any upfront collateral. They usually involve less paperwork compared to secured loans like mortgages but the period of loan is shorter and loan amounts smaller. Because there is no collateral put up or any repossession on default of loan payment, personal loans pose … Continue reading “Personal or Unsecured Loans”

Personal loans, or ‘unsecured loans’ involve taking a loan or borrowing without any upfront collateral. They usually involve less paperwork compared to secured loans like mortgages but the period of loan is shorter and loan amounts smaller. Because there is no collateral put up or any repossession on default of loan payment, personal loans pose considerable risks for lenders due to the risks involved. Hence, the rates may sometimes be higher.

For people with bad credit ratings or scores, it can be quite difficult to obtain a personal loan and the interest rates can be high; however some lenders do arrange a deal if the loan applier has a co-signer to stand guarantee.

These loans can be utilized for almost any purpose from college tuition fees, settling medical bills or to take a vacation. Basically, it provides access to funds for an immediate need. Some of the other uses of a personal loan can be:

• To buy a vehicle,
• For wedding expenses,
• For home refurbishment or improvement,
• To make a down payment on property purchase,
• To meet business expenses, and so on.

Advantages of a personal loan

There are many advantages a personal loan can provide.

• These loans are available to those with good credit scores at low interest rates.
• They offer fixed repayment periods and interest rates
• Consolidating high interest rate credit card payments with low-interest rate personal loans can help save a lot of money. Unlike credit cards, fixed rate loans do not have a ‘default’ clause and penalty payment.
• It is a faster and easier process and can be done even online; the availability of funds can be done in just a few days’ time.

Applying for a unsecured loan

Since this kind of loan is not backed by any collateral, the applicant’s credit history is of prime importance. On completion of necessary application, the applicant has to authorize a credit check and give sufficient documentation to prove that the loan repayment can be made. The lending company or bank completes the underwriting formalities through automated systems or through human verification process and the loan can be approved or declined. If the loan is approved, the money is transferred to the applicant’s bank account or a bank instrument sent to the applicant’s address. Direct bank transfers usually follow an online personal loan application request.

Caution

The single most important requirement for an unsecured or personal loan is good credit; sometimes lenders are willing to provide personal loans to applications with bad credit rating depending on the situation and if guarantee can be provided by a co-signer.

However, there are several instances when people have been duped by shady firms and agencies working on the Internet; they lure people with bad credit by advertising these types of loans without credit checks. They may request the applicant to provide processing fees or even make a couple of monthly installment payments to provide good reference. The money is as good as gone and there will be no evident sign of any loan forthcoming.

Easily Build Your Business Credit Simple Steps

Business Credit is credit that is obtained in a Name. With credit, the business builds its own credit profile and credit score. With an established credit profile and score, the business will then qualify for credit. This credit is in the name and based on the business’s ability to pay. Since the business qualifies for the credit, in some cases there is no personal credit check required from the business owner.

A starts building a brand new credit profile much the same as a consumer does. The starts with no credit profile. The business gets approved for new credit that reports to the business credit reporting agencies. The uses the credit and pays the bill timely. A positive business credit profile is established. As the business continues using the credit and pays bills timely it will qualify for more credit.

A cell or home phone number as your main business line could get you “flagged” as an un-established business that is too high of a risk. DON’T give a personal cell phone or residential phone as the business phone number. You can forward a virtual number to any cell or landline phone number.

Credit providers will research your company on the internet. It is best if they learned everything directly from your company website. Not having a company website will severely hurt their chances of obtaining business credit. There are many places online that offer affordable business websites so you can have an internet presence that displays an overview of your company’s services and contact information.

It is important to get a company email address for your business. It’s not only professional, but greatly helps your chances of getting the thumbs up from a credit provider. Setting up a business email address is just too easy and inexpensive to neglect.

One of the most common mistakes when building credit for your company is non-matching business addresses on your business licenses. Even worse is not having the “required” licenses for your type of business to operate legally. You will need to contact the State, County, and City Government offices to see if there are any required licenses and permits to operate your type of business.

A business credit report can be started much the same as a consumer report commonly is, with small credit cards. The business can be approved for small credit cards to help them build an initial credit profile. These types of initial cards in the business world are commonly referred to as “vendor credit”.

A vendor line of credit is when a company (vendor) extends a line of credit to your business on “Net 15, 30, 60 or 90” day terms. This means that you can purchase their products or services up to a maximum dollar amount and you have 15, 30, 60 or 90 days to pay the bill in full. So if you’re set-up on Net 30 terms and were to purchase $300 worth of goods today, then that $300 is due within the next 30 days.

Always apply first without using your SSN. Some vendors will request it and some will even tell you on the phone they need to have it, but submit first without it. When your first Net 30 account reports your “tradeline” to Dun & Bradstreet, the DUNS system will automatically activate your file if it isn’t already. This is also true for Experian and Equifax.

Are You a Reluctant Wanderlust in Business?

Are you a multi-talented, multi-passionate person who finds it hard to “commit” to doing “just one thing”?

Sometimes I feel like a loser when I couldn’t just “stick with it” when something ceases to give me a deep sense of excitement and purpose. Some may call it ADD.

Do you identify with being a “wanderlust” in life – not only having a desire to travel physically but also (and more importantly) to embark on a personal journey that involves experiencing all parts of SELF and all aspects of LIFE?

In different stages of my life, and especially in my own business, sometimes the tension between the strong pull to EXPERIMENT, to DARE, to chase FREEDOM, and the fear that comes up when I untether from the “known” would tear me apart.

Do you know the wanderlust part of you and the primal part of you may be at odds with each other, resulting in conflicting/self-sabotaging behaviors that hold of you back from soaring in your business?

Sometimes the restlessness eats me up as it turns into a nervous energy. Sometimes I fall into the comparison trap when I see my college classmates climb up the corporate ladder and score impressive titles. Sometimes I just feel plain lost and doubt… why can’t I just be everyone else and “settle down?”

***

COMMITMENT. FREEDOM. ANCHORED. EXPERIMENT.

HOME. WANDERLUST.

What some consider to be a daring experiment may be judged by others as “hopping from one thing to another” or being a flake.

It’s hard enough when the judgment comes from outside of us. But it can be downright self-sabotaging when the conflict comes from within ourselves.

The tension created by Commitment vs. Abandonment, the longing to Trust vs. the need for Certainty sends mix messages – to our selves, to others, and to the universe.

The conflict turns us into Reluctant Wanderlusts.

I don’t know about you but I have heard enough of those “free calls” to encounter quite a few of them talking about “commitment”… and, ha, to commit you just pull out your credit card and pay the money… only if it’s that easy!

“Commitment” on a superficial level can feel binding to us who has a fierce streak of wanderlust. How do we discern being committed from “staying put” out of fears or past/outdated conditioning?

When are we going to stop beating ourselves up from not being able to “stick with it”… just because others manage to stay in the same job for 10 years?

What is being daring, adventurous and open to experimenting to uncover a deeper part of us, to challenge the status quo and to stretch ourselves; and what is just plain “avoidance” – running away from what we have to face in order to expand and grow (but feel hard and gut-wrenching)?

The lower chakras’ need for certainty and safety fighting the upper chakras’ desire for inspiration and expansion creates conflicts that muddle up our energy and make everything feels like we have one foot on the gas and one foot on the break.

How do we commit, without feeling being tethered? How do we make the wanderlust in us and our need for certainty play nice together so we can finally lift the foot from the break?

With the propensity toward “freedom” also comes the intense desire to find “home.” Without properly defining what each one means, we fall prey to internal conflict that keeps us from moving forward.

***

Can “wanderlust” and “home” co-exist?

1. Accept

Accept that we have that wanderlust part in us, and we have the “cave(wo)men” part in us. They are all parts of us being us and denial or avoidance will only create more tension that triggers self-sabotaging behaviors.

We need to have ALL of us on board for the actions we need to take, in order for the actions to be aligned, meaningful and impactful.

2. Commit

Commit to BEING someone, not to DOING something.

Make that commitment to yourself, not to someone else.

Commit to an identity and use it to guide actions. This can be exceptionally freeing because there is room for possibilities, adventure and experiment.

3. Anchor

Life is dynamic, not static. To soar upward, there needs to be a grounded-ness.

We need some kind of reference point, or else we can be just plain lost.

But you are free to choose your anchor. What can give you an unwavering reference point so you can feel SAFE in the world?

If the “primal” part of you doesn’t feel its need for “safety” acknowledged, the subconscious mind (which affects 95% of our thoughts!) can throw a thousand “blocks” at you.

Is this anchor something you can hold onto, something you have “control” over? If it depends on other people or external circumstances, you can get into a shaky situation when the rug gets pulled out under you.

4. Find your place in the world

This is “home” (which doesn’t mean a physical location); this is your CORE message. When you know what you are about, you develop a deep Trust to give you a sense of Inevitability that serves as rocket fuel behind all your intentions and actions.

“Niching”, in its truest and broadest sense, is about finding our role in the community, our place in the world.

When you can articulate your core message into how you fit into the larger ecosystem (aka, how you create value and why you are relevant to the community you want to serve), you have found home through your business endeavor – a “home” that allows you to be YOU anywhere in the world.

When you find the WORDS to talk about how your conviction is translated into your work, you turn the inkling in your Guts into something your “logical mind” can get on board with.

When you find the WORDS so you can step up to own what you do, you voice it and set the intention for it to materialize.

When you get your entire SELF on board, you find a renewed excitement and commitment for your business.

Ling is an Intuitive Brainiac. Through her unique blend of Business + Marketing coaching with a Mindset + Psychic Twist, Ling Wong helps Maverick Entrepreneurs nail their message, claim their superpowers and muster up the GUTS to monetize their Truth.

Ling helps her clients find their Message, nail the WORDS that sell and design a Plan to work it, through her intuitive yet rigorous iterative process born out of her Harvard Design School training and 10 years of experience in the online marketing industry.

Are In Text Ads Relevant to the Content?

Yes, In Text Advertising is a form of Contextual Advertising

I was browsing through a magazine – a real one with paper pages – and noticed a lifestyle article about a new mattress that uses three-dimensions. Well, I wondered, don’t most mattresses have three dimensions? But then, on the next page, a full-page advertisement announced a new 3D mattress. Hmm… was that a coincidence? Of course not. The magazine sold the mattress ad and probably added an editorial article about the new technology. Most magazines try to separate editorial content from advertising, to keep appearance of professional writing. Separation of paid-for ads and actual content is considered ethical. In this instance, they were not that subtle. But wait, what’s so wrong about relevant ads? There seem to be a big difference in our expectations between the offline world and the online arena. While in traditional paper publications we prefer content which is clear of advertising interests, when it comes to the Internet, we actually expect the ads surrounding the content to be highly relevant to the content.

As website publishers we in fact insist of showing the most relevant ads, hoping they will yield higher click-through rates and revenues. The visitors somehow accept this as being supplemental to the content. Google AdSense ads are responsible for this revolution. Since the ads are placed through automated algorithms, we don’t see them as affecting the editorial considerations of the publisher. Moreover, if the ads are not relevant, we usually complain about it.

In text advertising is a form of contextual advertising. As such, in text ads are attached to hooks – highlighted terms within the content – and they are relevant to the terms and the content of the page. So, if your question is simply – are in text ads relevant? The answer is positive. Yes, in text ads are relevant to your content. But since there are examples where they are less relevant, this question calls for some further discussion.

No Perfect Guarantees

One of the publishers I’ve been working with has integrated in text ads for the first time. During the first month, we served ads to no less than 20 million unique visitors. When summarizing the first month’s results, the publisher was generally very happy with the revenues and feedback, but he highlighted one email from a frequent visitor, who complained about an ad that was not relevant. My first response to the complaint was – Great, this is good news! How come? Simple. It’s true that an irrelevant ad is not a good user experience. But, if we had one complaint out of 20 million visitors, we have a very good success ratio. There are no guarantees that any contextual advertising technology would be perfect. There’s nothing like a bullet-proof method with perfect relevance, not even Google AdSense, and as long as the vast majority of ads are relevant, this should suffice.

Is it really not relevant?

In text ads can be less relevant when the content is not focused. Any contextual algorithm, as smart as it can be, would have problems with pages that are a mix of issues. In such cases, the ad should at least be relevant to the hook – the highlighted term.

Another factor that can reduce relevancy is geography. When the visitor comes from a country with less online advertising, it could be difficult to match the ads with high relevancy. To improve this, make sure with your provider that he has enough advertising coverage in the countries where your most important visitors come from, and be tolerant to less relevant ads in other regions.

Last but not least, relevancy is in the eye of the advertiser. While you may think that an ad is not relevant, take into consideration that the advertiser has specifically chosen to match the ad to the term and context. A professional in text ads provider only places ads with direct response to advertising campaigns which target context and terms. For example, if the chosen term was “London Hotel”, you would probably expect a travel ad. But then, if you see an ad for a t-shirt website, don’t be alarmed. It could be that this t-shirt website is now selling new Madonna merchandise, and Madonna is on her way to a big concert in London; hence, the advertiser is trying to target tourists who head to London for the show.

Are your Hooks Relevant?

In addition to measuring the relevancy of the ads to the content, another important factor would be the relevancy of the highlighted terms to the content. Before any visitor hovers over an ad, visitors show interest in links which are relevant to the content. When the highlighted terms are relevant, you should see higher rates of hovers. Matching the ads themselves comes next. So first, ask yourself – are the terms relevant? This should be a good start.

You can improve In Text Ads Relevancy

In these cases when you still feel that the in text ads on your website are not relevant enough, consider the following options. First, calculate how serious this issue is. If you’re thinking about just a few ads out of thousands, then it’s probably not a serious problem. Second, consider the context and the geography – the more focused the content, and the bigger the market for online advertising in this country, the higher the relevance should be. If the market is not that big and the content is not very focused, achieving high relevancy would be difficult. Third, look from the advertiser’s point of view – he thought the ad is relevant, so try to understand it.

If, after considering these options, you still feel that the ads are not relevant, then it’s time to contact your in text ads provider. There’s much you can do together. Your provider can work with you to improve the algorithm and customize it to your website, direct specific advertisers to your website, and assist you with monitoring and analyzing results. After all, it is contextual advertising.

Don’t Invalidate Fire Insurance

Don’t invalidate your fire insurance policy.

I find this a very strange case but it just shows how important it is to read the small print as if you ignore the conditions of the policy your policy could be invalidated.

In this case it was a condition of the FIRE insurance that the SECURITY Alarm was maintained and monitored. Times had been tough for the insured and he let the maintenance of the security alarm lapse and as the ARC had not been paid for 6 months they stopped monitoring the site.

Vandals broke in and set fire to the factory. It was a furniture company and they incurred losses of over £750,000.

The case went to the High Court, the judge had nothing but sympathy for the Directors of the Company and he took ‘no pleasure’ in ruling that as it was a condition of the combined insurance policy that alarm was to be monitored by an external firm, the Insurers did not have to meet the claim.

There are often conditions attached to the insurance policies we take out which relate directly to the risk. We need to make sure our cars have valid MOTs in order not to invalidate the policy. We are required to notify the insurance company if we get a speeding fine but, to my mind oddly, you do not have to tell them if you decide to do the Speed Awareness Course rather than pay the fine.

I have just come across a case, now in front of the insurance Ombudsman, where an insurance company voided the policy and returned all the premiums because the policy holder had unwittingly exceed the value of the ‘valuables’ within their contents insurance. They had insured the contents of their house for £60,000 but there was a clause stating that the value of the valuables should not exceed 66% of this.

They had to rush their daughter to hospital, and while they were out the thieves struck taking goods and damaging the property to the value of £70,000. When assessing the claim the loss adjusters calculated that the value if the valuables in the house exceeded £40,000. Normally claims would be ‘averaged’ to reflect the under insurance, but the insurance company in this case argued that the under insurance voided the policy. As I said this case is in front of the ombudsman as I write.

Back to case in hand where a fire insurance claim was dismissed as a security alarm and monitoring were allowed to lapse. Clients of ours run a hotel and there is someone on reception all the time so if the fire alarm is activated there was always someone on duty to respond. We came round to the time when the annual contract with the ARC [monitoring station] needed to be renewed. The Hotel Manger wanted to cancel it as it was considered an unnecessary expense. I said I agreed but asked him to check with his insurers to make sure they had no objections. The Insurers confirmed; monitoring was a condition of the policy.

Often with in the insurance policy there is a clause that the fire alarm is maintained in accordance with British Standards. It would be interesting to know whether a similar claim has been dismissed as the Fire Alarm has not been adequately maintained.