subject: Payday Loans: Companion to Financial Survival [print this page] Payday Loans: Companion to Financial Survival
Look at around you and see what a wonderful world it has been. It took many years for us to realize how lucky we are to live in a world of balance.
Left and right, we see most enchanting and enthralling world creation that we people must enjoy. However, due to the inevitable changes took place, the world is no longer a beautiful place to live in but rather a chaotic place.
Payday loans, companion, financial or finance and survival.
How do you understand these words? When you happen to hear or come across these words, what comes into your mind?
Come on, think of it. Let's try to contemplate.
I know most of us are familiar with these. These are but just common to all of us for these has been part of our journey to life where we have sought convenience of life and continue to seek more of it.
When we speak of loans, These are an arrangement in which a lender gives money or property to a borrower, and the borrower agrees to return the property or repay the money, usually along with interest, at some future point(s) in time. Usually, there is a predetermined time for repaying a loan, and generally the lender has to bear the risk that the borrower may not repay a loan, though modern capital markets have developed many ways of managing this risks.
The most common type of loans come from banks, which exist to lend money, so it's no surprise that banks offer a wide variety of ways to fund a business's growth.
Few of the many examples of loans provided by banks in the United States are;
Line-of-credit loans, Installment loans, Balloon loans, Interim loans, Secured and unsecured loans, The 7(a) Loan Guaranty Program, The SBA LowDoc Program, The SBA Express Program, CAPLine loans, The SBA's Minority and Women's Pre-Qualification Loan programs, The Microloan program and The CDC-504 Loan program.
All of the above loans guarantee an amount to the lenders with a fix or predetermined interest rate.
These are usually the options of some of our entrepreneurs and businessman and woman to finance their businesses.
Now, I'll give another example of loan, which at this time become very well-known and talked about. This is Payday Loans.
A payday loan, also called a paycheck advance or payday advance) is a small, short-term loan that is intended to cover a borrower's expenses until his or her next payday. It can also be defined as a loan or advance that is put into your bank account or provided as cash in a short time period, usually within a day. At the end of the loan term, the cash that you have borrowed as a payday loan will be withdrawn from your bank account and initially be repaid in a certain time.
Why are we talking about loans?
We are talking about these several loans to help readers gather information about finances, its sources and procedures.
Talking about finance and financial sources, Finance is concerned with resource allocation as well as resource management, acquisition and investment. Simply, finance deals with matters related to money and markets.
Definitely, these is what I'm referring to. In order for us to survive and overcome challenges in life, one of the main or primary need before hand is the financial source and finance itself.
Human as we are, we need to grow and we need to become what we wanted to be. This is the time where we reach our goals and we obtain our objectives in life.
This is the time where we reach the peak or the highest stage of Maslow's Hierarchy of Need, The Self- Actualization.
