Small Business Unplugged

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PawnUp.com is all geared up for promoting their loan schemes for small businesses. They have recently included a new section on their website which describes benefits of their small business loans. This is a unique initiative from PawnUp.com, an online pawn shop, for influencing the loan seekers. The company claims to arrange for funds for the small businesses in short span, as compared to other lenders who are not showing much interest in investing in small businesses.

The economic downturn and market volatility has been affecting the small and private businesses adversely. In this situation, banks and other private lenders consider small business under "high risk" category and are reluctant to invest in them. On the other side, PawnUp.com offers loans to small businesses without analyzing the customer's credibility, past financial performance, or conducting revenue analysis. The company is one amongst who offer lowest industry rates on loans, only 5%.

With this new section on the website, the company aims to reach out to more businessmen and help them by arranging finance more comfortably and protecting them from filing bankruptcy. As the businesses would be able to continue operations with funds, this in turn would help to sustain employment opportunities in the country.

This entry was posted on Wednesday, February 15th, 2012 at 4:31 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

© Jesse Wagstaff

Many people believe that loan sharks are a thing of the past. That however is a big misconception. The ugly truth remains that modern day loan sharks continue to exist in some form or another. Loan sharking or predatory lending is an activity wherein loans are provided to people desperate for quick cash at extremely high, often illegal rates of interest. These loan sharks target those people who are completely broke and cannot procure a bank loan.

Usually people who are unemployed or who barely manage to make ends meet but still want to enjoy the luxuries of life turn to loan sharks without realizing the extent of misery they are inviting on themselves. A part of this attitude can be explained by the modern day culture that we live in- It is a world dominated by the power of money. Even when we know that we don't need something or we can't afford something, we will be tempted to buy it irrespective of that. This is the basic instinct that loan sharks thrive on. They trick their borrowers by manipulating the loan terms, using slippery language, implying things between the lines and what not. And because the people are blinded by their desperation for money, they fail to notice anything.

There are several forms of loans which can be categorised as predatory lending. You might have heard of payday loans under which a small sum of money is lent for a short amount of time at a higher interest fee. It is important to recognise that payday loans are legalised by many states and the maximum limits for the loan amount and interest rates are also decided by the state. However, several lenders continue to charge a higher rate of interest than is legally permitted and function illegally under the name of payday loan companies.

There are other forms of modern loan sharking. The best examples can be found in the loan commercial on radio or TV. Under such schemes, the lenders promise you that you can drive home a car of your choice. The hidden story behind this is often way uglier. The amount of money that you will agree upon as a loan amount might actually be higher than the cost of the car itself. And on top of that, the loan would be spread over a longer time and thus; you would be in debt for a longer time. If you are not able to pay off the loan, which is usually the case, they will seize possession of the car and try the same trick with someone else.

So, every time you hear a commercial which uses hyperbolic language and makes unrealistic promises, exercise caution before you even consider it seriously. If you are seriously planning on buying a car or a house, assess your financial situation and go to a bank for a loan and not one of these modern day loan sharks. They might provide you momentary happiness, but in the long run you will be left under a mountain of debt.

This entry was posted on Tuesday, February 14th, 2012 at 10:04 am and is filed under Information About. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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The Scottish Government is offering interest free loans of upto 1, 00,000 pounds under its small business loans scheme to encourage energy saving techniques. The government gave a 2.5 million pound boost to its already existing scheme under small business loans started in 2008. More than 100 small businesses have already taken credit worth 2.5 million pounds during the current financial year and have helped save energy to the tune of 30,000 Megawatt hours. Encouraged with this performance the Scottish Government announced the 2.5 million in small business loans to assist other small enterprises cut their energy bills.
According to Energy Minister, Fergus Ewing, the small business loans programme has given benefits to a whole lot of small and medium enterprises across Scotland in the form of savings in energy costs, which made them better equipped to face competition and help the country to go green. He further adds that the government scheme will not only make the small businesses more efficient it will also encourage enterprises to go for installation of renewable technologies and get paid for the electricity supplied to the national source.
These small business loans will be available to all small and medium businesses, private sector land owners, non-profit organisations as well as charities.

This entry was posted on Friday, February 10th, 2012 at 10:16 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.