Finance – Reynolds Records http://reynoldsrecords.com/ Tue, 13 Sep 2022 21:25:30 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://reynoldsrecords.com/wp-content/uploads/2021/05/ryan-reynolds-icon-150x150.png Finance – Reynolds Records http://reynoldsrecords.com/ 32 32 How to qualify for $10,000 fast https://reynoldsrecords.com/how-to-qualify-for-10000-fast/ Tue, 13 Sep 2022 21:25:30 +0000 https://reynoldsrecords.com/how-to-qualify-for-10000-fast/

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders, all opinions are our own.

If you need to cover a personal expense, a personal loan might be a good option. Here’s what you need to know before getting a $10,000 personal loan. (Stock)

Whether you need to consolidate credit card debt, renovate your bathroom, or cover another major expense, a personal loan can be a good choice. If you decide to take out a loan, such as a $10,000 personal loan, be sure to carefully review your lender’s options to find a loan that best suits your needs.

Here’s what you need to know before getting a $10,000 personal loan.

Where to get a $10,000 personal loan

Here are some types of lenders that offer $10,000 personal loans:

Online lenders

An online lender is one of the most convenient options when it comes to getting a personal loan. These types of lenders offer small and large personal loans and often offer competitive rates to qualifying borrowers.

The funding time for online loans is usually a week or less, although some lenders fund loans the same or next business day after approval. This could make online lenders one of the best options if you need a fast personal loan.

Before taking out a personal loan, be sure to consider as many lenders as possible to find the loan that’s right for you. You can compare your prequalified rates from Credible’s partner lenders in the table below in just two minutes.

Banks and credit unions

You can also get a $10,000 personal loan from a traditional bank or credit union. This could be a good option if you prefer to apply for a loan in person – although you may also have the option of applying online, depending on the lender.

Although online lenders are convenient, banks and credit unions sometimes offer their own perks. For example, if you already have an account with them, you might qualify for a discount on pricing. Also keep in mind that because credit unions are non-profit organizations, they sometimes offer better rates and terms than banks or online lenders.

How to Apply for a $10,000 Personal Loan

If you’re ready to get a $10,000 personal loan, follow these three steps:

  1. Check your credit. Lenders will review your credit to determine how likely you are to repay the loan, as well as the rates and terms to offer you. Before applying, remember to check your credit so you know where you stand. You can use a site like AnnualCreditReport.com to view your credit reports for free. If you find any errors, dispute them with the appropriate credit bureaus to potentially increase your score.
  2. Compare lenders and choose a loan option. Be sure to compare as many personal lenders you can to find a loan that meets your needs. Consider not only the rates, but also the repayment terms and fees charged by the lender. After doing your research, choose the loan option that’s right for you.
  3. Complete the application and get your funds. Once you’ve chosen a lender, you’ll need to complete a complete application and submit all required documents, such as pay stubs or tax returns. If you are approved, the lender will have you sign for the loan so the funds can be released to you. The time to fund a personal loan is usually around a week, although some lenders fund loans much faster.

What to consider when applying for a personal loan

Be sure to consider the following factors when shopping for your $10,000 personal loan:

  • Interest rate – Personal loan interest rates generally range from 3.99% to 35.99%. However, the rate you receive will likely be influenced by your credit, the amount you want to borrow, the repayment term, and the lender you choose.
  • Costs – Be sure to check with your lender to determine what type of fees they charge. Some lenders charge origination fees for loan processing, while others may charge late fees or repayment fees for insufficient funds. It’s also good to keep in mind that some lenders may charge you a penalty for prepaying a personal loan.
  • Repayment Terms – Personal loan repayment terms typically range from one to seven years, depending on the lender. Your repayment term will affect your monthly payment and the overall cost of your loan.
  • Monthly payment – Your monthly personal loan payment is determined by your interest rate, loan amount and repayment term. Opting for a longer repayment term results in lower monthly payments, but adds up to more interest paid over time. Shorter repayment terms mean higher monthly payments, but you’ll pay less interest and pay off your loan faster.

Before taking out a personal loan, remember to consider as many lenders as possible. This way, you can find a loan that’s right for you. Credible makes it easy – you can compare your prequalified rates from several lenders who offer $10,000 personal loans in two minutes.

What credit rating do you need for a $10,000 personal loan?

Your credit score is an important factor when it comes to qualifying for a personal loan. This also has an impact on the interest rates you might get. As a general rule, borrowers with good credit – usually a score of 670 or higher – will qualify for lower interest rates than borrowers with bad credit.

To get approved for a $10,000 personal loan, you will generally need a credit score of 620 or higher, but keep in mind that some lenders are willing to work with borrowers whose score is lower than this. If you have poor credit and can wait to get a personal loan, it may be a good idea to work on build your credit so that you can benefit from better rates in the future.

How much will you pay monthly for a $10,000 personal loan?

The amount you will pay for a $10,000 loan will depend on the interest rate you qualify for as well as the length of your repayment.

For example, borrowers with credit scores ranging from 720 to 779 qualified for personal loan interest rates with an average of 11.04% APR when they took out a three-year loan through Credible in July 2022. For a $10,000 loan at that rate, borrowers would have a total repayment cost of $11,792.

In comparison, borrowers with scores of 640-679 were offered an average APR of 24.24% while those with scores of 600-639 were offered an APR of 29.01%. Borrowers who got these rates on a three-year loan would pay $14,169 and $15,088, respectively, for the same $10,000 loan.

As you can see, your credit score will have a major impact on how much you will pay for a $10,000 loan. Before getting a loan, be sure to consider the overall cost so you can prepare for any additional costs – you can estimate how much you’ll pay for a loan using Credible’s personal loan calculator.

If you’re ready to get a personal loan, take the time to compare as many lenders as possible to find the loan that’s right for you. You can do this easily with Credible – after filling out a single form, you can see your prequalified rates from each of Credible’s approved partner lenders.

Personal Loan FAQs

Here are some answers to some frequently asked questions about personal loans:

Can you get a personal loan with bad credit?

Yes, many lenders offer $10,000 personal loans to borrowers with bad credit. However, keep in mind that personal loans for bad credit usually come with higher interest rates compared to good credit loans.

If you’re having trouble getting approved, another option is to apply with a co-signer. Not all lenders allow co-signers on personal loans, but some do. Even if you don’t need a co-signer to qualify, having one could get you a lower interest rate than you would get yourself.

How quickly can you get a personal loan?

How quickly you can get a personal loan depends on the type of lender you use. Here are the typical funding times to expect:

  • Online lenders: Less than five working days
  • Banks and credit unions: One to seven business days

Online lenders are generally the fastest option – many offer approval decisions within minutes, which can help speed up loan funding time. Some online lenders even offer next day or same day loans if you are approved.

What can a personal loan be used for?

You can use a personal loan for almost all of your personal expenses (although some lenders may have certain restrictions). For example, you could get a personal loan to cover debt consolidationmedical bills, home improvementand more.

Keep in mind that you may not be able to use a personal loan to pay for business ventures or post-secondary education expenses. Be sure to read the terms first so you know how you can use your loan.

If you’re ready to shopping for a personal loan, remember to compare as many lenders as possible to find the right loan for you. Credible makes it easy – you can compare your prequalified rates from multiple lenders in two minutes.

]]> Online lending market looking for excellent growth: Lending Club, Upstart, Funding Circle, Prosper https://reynoldsrecords.com/online-lending-market-looking-for-excellent-growth-lending-club-upstart-funding-circle-prosper/ Mon, 12 Sep 2022 01:28:37 +0000 https://reynoldsrecords.com/online-lending-market-looking-for-excellent-growth-lending-club-upstart-funding-circle-prosper/

This press release was originally issued by SBWire

New Jersey, United States — (SBWIRE) – 11/09/2022 – The latest published study of the Global Online Lending Market by AMA Research assesses market size, trend and forecast to 2027. The Online Lending Market study covers important research data and proves to be a handy reference document for managers, analysts, industry experts, and other key people to have a ready-to-access, self-analyzed study to help understand market trends, growth drivers, upcoming opportunities and challenges and about competitors.

Key players in this report include:
Upstart (US), Funding Circle (UK), Prosper (US), CircleBack Lending (US), Peerform (US), Lending Club (US), Zopa (UK) ), Daric (USA), Pave (USA), Mintos (Latvia).

Download sample PDF report (including full TOC, table and figures) @ https://www.advancemarketanalytics.com/sample-report/79605-global-online-loans-market#utm_source=DigitalJournalLal

Definition:
The online loan is a real estate loan which is now not without delay from a usual bank. Many online lenders are called an online lender because they are an alternative to a common bank. The period was used to understand savings banks, authority loans and various deposits that are structurally comparable to loans from financial institutions but come from or through a specific source. Online lending has frequent and profitable modes that encompass credit trails, peer-to-peer programs, factoring, SBA loans, service provider cash advances, and working capital loans. With online loans, you now have more alternatives than ever. However, people have their worries about online loans because they fear for the security and legitimacy of the companies. Just like anything, it’s essential that you make sure that the online lender you choose to work with features a tightly closed operator and presents the mortgage they advertise.

Market trends:
Demand for short-term online loans continues to grow at an increasing rate

Market factors:
Flexible repayment – Many online loan apps offer flexible repayment plans to make loan repayment easier and more convenient
Growing awareness of online lending among the population

Market opportunities:
Increase in the number of online transactions
Comparison of loan facility provided by different online banks

The Global Online Lending Market Segments and Market Data Breakdown are illustrated below:
by deployment mode (on-premises, cloud-based), loan (car loan, gold loan, personal loan, education loan, others), end users (individuals, businesses), loan duration (up to 1 year, 2-3 years , More than 3 years)

The Global Online Lending Market report highlights insights regarding current and future industry trends, growth patterns, as well as offers business strategies to help stakeholders make sound decisions that can help ensure the trajectory of earnings over the forecast years.

You have a question ? Market a request before purchase @ https://www.advancemarketanalytics.com/enquiry-before-buy/79605-global-online-loans-market#utm_source=DigitalJournalLal

Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions:
– The Middle East and Africa (South Africa, Saudi Arabia, United Arab Emirates, Israel, Egypt, etc.)
– North America (United States, Mexico and Canada)
– South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
– Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
– Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia).

Report objectives
– -To carefully analyze and forecast the Online Loans market size by value and volume.
– -To estimate the market shares of the main online lending segments
– -To present the development of the Online Loans market in different parts of the world.
– -Analyze and study the micro markets in terms of their contributions to the Online Lending market, their prospects, and individual growth trends.
– -Offer accurate and useful details on the factors affecting the growth of online loans
– -To provide a meticulous assessment of crucial business strategies employed by leading companies operating in the Online Lending market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments and product launches.

Buy Full Online Lending Market Assessment Now @ https://www.advancemarketanalytics.com/buy-now?format=1&report=79605#utm_source=DigitalJournalLal

Main highlights of the table of contents:

Online Loan Market Research Coverage:
– It includes major manufacturers, emerging player’s growth story and major business segments of Online Loans market, years considered and research objectives. Further, segmentation based on product type, application, and technology.
– Executive Summary of Online Lending Market: It provides a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, together with macroscopic pointers.
– Online Loans Market production by Region Online Loans Market profile of manufacturers-players is studied based on SWOT, their products, production, value, financials and other factors vital.
– Key points covered in the Online Lending Market report:
– Overview, Definition and Classification of Online Loans Market Drivers and Barriers
– Online Loans market competition by manufacturers
– Analysis of impact of COVID-19 on the online lending market
– Online Lending Capacity, Production, Revenue (Value) by Region (2021-2027)
– Online Loan Supply (Production), Consumption, Export, Import by Region (2021-2027)
– Online Loan Production, Revenue (Value), Price Trend by Type
– Online Loans Market Analysis by Application
– Online Loans Manufacturers Profiles/Analysis Online Loans Manufacturing Cost Analysis, Supply Chain/Industry Analysis, Sourcing Strategy and Downstream Buyers, Marketing
– Strategy by major manufacturers/players, standardization of connected distributors/traders, regulatory and collaborative initiatives, industry roadmap and analysis of value chain market effect factors.

Browse Full Abstract & Table of Contents @ https://www.advancemarketanalytics.com/reports/79605-global-online-loans-market#utm_source=DigitalJournalLal

Answers to key questions
– How feasible is the online loan market for long-term investment?
– What are the factors influencing the demand for online loans in the near future?
– What is the impact analysis of various factors on the growth of the global Online Lending Market?
– What are the recent regional market trends and how successful are they?

Thank you for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.

For more information on this press release, visit: http://www.sbwire.com/press-releases/online-loans-market-seeking-excellent-growth-lending-club-upstart-funding-circle-prosper-1363481.htm

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Cybersecurity Expert Confirms Validity of 105 Million Indonesian Data Leaked https://reynoldsrecords.com/cybersecurity-expert-confirms-validity-of-105-million-indonesian-data-leaked/ Thu, 08 Sep 2022 02:45:31 +0000 https://reynoldsrecords.com/cybersecurity-expert-confirms-validity-of-105-million-indonesian-data-leaked/

TEMPO.CO, Jakartacyber security and Vaksincom’s digital forensics expert, Alfons Tanujaya, confirmed the validity of several ID numbers or NIKs of 105 million Indonesian population data leaked by an account named Bjorka and sold on an online forum called Breached Forums or Breached.to. The data is said to come from the General Election Commission (KPU).

“I checked several NIKs given as a sample, all of them are valid. And the data most likely comes from KPU because there is TPS information,” Alfons told Tempo on Wednesday evening, September 7, 2022.

Bjorka is suspected of leaking sensitive data about Indonesians including NIK, family card or KK number, full name, place and date of birth, gender, address and age on his page on September 6, 2022.

As a result of this data breach, Alfons explained, people could exploit demographic data by opening a fake bank account, signing up for online loans, and more.

The Ministry of Communication and Information or Kominfo was discreet when asked to respond to the alleged data leak. “When it comes to cyberattacks, it’s best to ask the National Cybersecurity and Encryption Agency or BSSN as the lead cybertech sector,” Kominfo Minister Johnny G. Plate said Wednesday via a short message.

The BSSN, meanwhile, said it was conducting a thorough investigation into the alleged breach of 105 million Indonesian sensitive data. “The BSSN team is coordinating and investigating the matter. It is still being processed,” agency spokesperson Ariandi Putra told Tempo on Wednesday.

Ministry of Health. KHORY ALFARIZI

Click here to get the latest news from Tempo on Google News

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Sue non-tax-compliant lenders, GDT asks NBC https://reynoldsrecords.com/sue-non-tax-compliant-lenders-gdt-asks-nbc/ Mon, 05 Sep 2022 14:23:32 +0000 https://reynoldsrecords.com/sue-non-tax-compliant-lenders-gdt-asks-nbc/

The General Department of Taxation (GDT) has asked the central bank to take action against two lenders who were seen promoting their services on social media despite failing to comply with tax regulations.

The request concerns Happy Loan Cambodia Co Ltd and Tiger Loan, and comes days after the National Bank of Cambodia (NBC) issued a public warning on August 25 regarding advertisements and other types of promotion for companies and practices of Illegal and deceptive loans.

GDT’s notice, signed by its managing director Kong Vibol and dated August 31, revealed that Happy Loan Cambodia “has registered for tax, but the company details are not up to date, and they have not filed their taxes either”, while Tiger Loan “has failed to meet its tax registration requirements”.

The action of the BNC “would strengthen compliance with the law on taxation and the law on banking and financial institutions [LBFI]improve the business environment and ensure fair competition, and above all promote effective and efficient law enforcement,” said the department, which is under the Ministry of Economy and Finance.

The Post could not reach either lender for comment at press time.

However, it should be noted that Tiger Loan states on its Facebook page that it offers “quick and easy” unsecured loans nationwide starting at $50, with “simple paperwork” and “guaranteed privacy at 100% for customers”.

Speaking to The Post on September 5, Cambodian Microfinance Association (CMA) spokesperson Kaing Tongngy pointed out that legitimate online lenders operating in the Kingdom are those licensed by the NBC or the Non-Banking Financial Services Authority (NBFSA) of the Department of Finance.

These lenders are regularly vetted by authorities and have clearly defined addresses, business activities and customer protection principles, he said.

“What we have seen on social media are mostly illegal operations by different groups. We have seen a significant increase in these illegal online loan schemes since the onset of Covid-19 when many people ran out of money.

“Unfortunately, we have also seen many victims of online lending. These illegal operators charge ridiculously high interest rates, defraud their customers, disregard customer protection principles, use intimidation and violence and conduct often to over-indebtedness,” he added.

In its August 25 precautionary press release entitled “Advertising and Illegal Lending”, the BNC stated that the banking and financial institutions it authorizes to operate include: commercial and specialized banks, microfinance institutions regardless of or their status as a depository institution, leasing companies and rural credit institutions.

These institutions provide credit and other relevant services to companies, businesses and individuals. They are under the control of the BNC and their customers are protected by law.

However, NBC warned that it had observed some nefarious actors openly advertising loans through a variety of mediums, including online ads, on social media, or through flyers and flyers in public places. Lending by these unlicensed companies or individuals is against the law, in particular the LBFI.

“In order to avoid falling victim to fraud or any other consequence of obtaining informal credit and to maintain stability and public confidence in the banking system, we call on the public to exercise due diligence. caution and encourage him to use the services of formal institutions.

“We condemn all forms of informal dissemination of information and loans. In the meantime, we are cooperating with the authorities to prosecute any company or individual who engages in illegal activities,” the letter adds.

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How to buy a home loan in 2022 https://reynoldsrecords.com/how-to-buy-a-home-loan-in-2022/ Tue, 30 Aug 2022 14:00:00 +0000 https://reynoldsrecords.com/how-to-buy-a-home-loan-in-2022/

There are a lot of questions you will need to ask yourself when looking for a home loan. Which lender is right for you? Do you want a fixed or variable interest rate? What are the features you can’t live without?

Finding a loan that ticks all the boxes can be a difficult task, but there are steps you can take to make it easier for yourself. Below we cover a few things you need to keep in mind when shopping for a home loan in 2022.

Consider different lenders

Most Australians tend to get a home loan from the institution they’ve dealt with for most of their life – usually one of the big four banks – but that’s not always the best option.

Rather than reflexively going to the bank you keep your savings with, be sure to look around and see what other lenders are offering. It often happens that online lenders have higher rates because their overhead costs are not as high.

You might also find that different lenders will allow you to borrow different amounts. This is because lenders vary in how they perform their utility testing, and some may use lower valuation rates to assess customers’ ability to repay a loan.

Understanding Compare Rate

When advertising their home loans, lenders are required to show what is called a comparison rate. This number combines the advertised rate with any additional fees associated with the loan, giving you a more accurate picture of its cost.

For borrowers, the comparison rate is a useful tool for evaluating different options. You may find that a loan with a low rate but lots of fees may have a higher comparison rate than a loan with an average rate and no fees.

Consider the direction interest rates are heading

Every time the Reserve Bank of Australia changes the cash rate, lenders tend to change their mortgage rates by a similar amount. Having an idea of ​​how interest rates are changing can help you decide what type of loan you should take out.

For example, if rates fall, opting for a variable rate can allow you to take advantage of any price drops over time.

Likewise, a fixed rate may seem like a good idea if rates tend to rise, but the banks may already have a head start on you. Fixed rates are predictive in nature, meaning that lenders take into account what the interest rate environment will look like in the future when setting them.

Months ago, when it became clear that the RBA would raise the cash rate, lenders began to remove many of their low fixed rate offers. Nowadays, fixed rates have overtaken variable rates as the more expensive of the two.

Know what features you want

It’s not just the interest rate in a home loan. You will also need to think about the features you plan to use. Some common characteristics include:

  • The ability to make additional refunds

Try to narrow them down to a few “must-haves” – features you’re sure to use – so you don’t pay more than you need to.

Just keep in mind that fixed rate loans tend to be more limited in the features they offer than variable rate loans. For example, not all fixed rate loans allow you to make additional repayments, and those that do may limit the amount you can pay each year.

Consider your credit score

When it’s time to search pre-approval, it’s a good idea to limit the number of applications you send. Indeed, each time a lender checks your credit report, it triggers what is called a “thorough investigation”.

Too many difficult applications in a short period of time can give banks the impression that your applications are being rejected, which can end up hurting your chances of being approved.

So, instead of applying to multiple lenders hoping to find the best deal, do plenty of research beforehand and focus on one or two lenders that seem to be the best fit.

Sign up for the shortest time you can afford

Extending the term of your home loan can make it easier to manage your repayments, but you’ll end up paying more interest in the long run. Try to choose as short a duration as possible while leaving some leeway in your budget.

Ready to start your search? Visit our home loan comparison page, where you can filter your search by rate and type.

*
ATTENTION: This comparison rate only applies to the example or examples given. Different amounts and durations will result in different comparison rates. Costs such as withdrawal charges or prepayment charges, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed corresponds to a guaranteed loan with monthly principal and interest repayments of $150,000 over 25 years.

**
Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on the amount of your loan, the term of the loan and your credit history. Actual repayments will depend on your personal circumstances and changes in interest rates.

^ See Mozo Experts Choice Home Loan Awards information

Mozo provides general product information. We do not take into account your personal goals, financial situation or needs and we do not recommend any particular product. You must make your own decision after reading the PDS or offering literature, or after seeking independent advice.

Although we pride ourselves on covering a wide range of products, we do not cover every product on the market. If you decide to request a product through our website, you will be dealing directly with the supplier of that product and not with Mozo.

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ARC reform could broaden areas of assessment https://reynoldsrecords.com/arc-reform-could-broaden-areas-of-assessment/ Sun, 28 Aug 2022 09:11:01 +0000 https://reynoldsrecords.com/arc-reform-could-broaden-areas-of-assessment/

Even medium-sized banks with more than 50% of their loans outside the areas where they have branches will also see their loans in these other areas.

The latest attempt to revamp the Community Reinvestment Act could pose serious challenges for big banks that have used online lending to find business across a wide area.

A years-long effort to modernize the CRA now takes online banking and lending into account, while keeping branch networks at the center of CRA federal reviews to determine whether banks do not discriminate where they make their loans.

For smaller banks, the ARC’s proposed changes should have little impact on how they define the geographic area that regulators will assess to determine whether they meet a community’s credit needs. But for large banks, including those that offer online lending outside of their branch networks, the proposed changes have raised concerns about the areas in which they will be assessed for ARC activities.

“While we agree that a change is needed in the areas of assessment to adapt to the changing banking and technology environment of the financial industry, we do not believe that careful attention adequate has been given to community banks serving their customers across a geographical boundary, i.e. via the internet and other media,” said Nicole Almeida, Senior Vice President of Swansea-based BayCoast Bank , Director of Diversity and CRA Officer, in a letter to regulators.

Branches and ATMs remain essential

After the ARC’s latest attempt at an update ended with the three federal banking regulators failing to move forward with a joint proposal, the FDIC, Federal Reserve, and Office of the Comptroller of the Currency have come up with new rules together.

The proposed changes would represent the CRA’s first major update since 1995, and generated a series of other controversies and criticisms banking groups and community advocates.

The basis for ARC reviews is a bank’s rating area, currently defined by banks based on the areas surrounding physical branches and ATMs that accept deposits. To avoid redlining, banks cannot “arbitrarily exclude low- or moderate-income census tracts” from their rating areas, under current regulations, and the areas cannot reflect unlawful discrimination.

These anti-discriminatory requirements remain in the proposed regulations. And the reviews will continue to assess a bank’s performance across its branch network, what the proposal calls “facility-based assessment areas.”

“While the number of bank branches has declined in recent years, agencies believe that branches remain a key way of defining a bank’s local communities,” bank regulators said.

Even if a bank does not use the word “branch” to describe a location, it would be considered a branch for CRA purposes if the bank has a physical location that takes deposits from customers. Even though the location is open by appointment only, it is still considered a branch.

Other changes anticipate that business models or banking options may change. Instead of referring to ATMs, the proposal now includes “remote service facilities” as part of the facilities-based assessment area, a broader term that the agencies say encompasses other options such as interactive bank machines.

Changes for large banks

Smaller banks, which under the proposed rule would have less than $600 million in assets, and intermediate banks, which would have less than $2 billion in assets, would continue to designate the assessment area based on facilities using a similar approach to what they currently use. .

But some middle-sized banks might be screened outside of their defined geographic area. Banks that make more than 50% of their lending outside the facilities-based assessment zone would have their lending in these other areas also considered.

For large banks — those with $2 billion or more in assets — the CRA’s proposal would bring bigger changes.

The proposed rule provides large banks with two options for their facilities-based assessment area. They could choose a region with one or more metropolitan statistical areas or metropolitan divisions. Or, banks could choose one or more contiguous counties within an MSA, metropolitan division, or non-metropolitan area of ​​a state.

The agencies said the approach would create a more consistent standard for big banks when defining their areas of assessment, while promoting fair lending and making it easier to report data.

Different business models

For large banks whose lending activities lead to lending outside of their typical geographic region, including online lending, ARC would include a second assessment area called the “retail lending assessment area.”

This zone would be required for large banks that had 100 mortgages or 250 small business loans in a geographic area outside the facility-based lending zone in the previous two calendar years.

“The proposed approach to designating retail lending rating zones is designed to provide a pathway for rating banks in a way that provides parity between banks that lend primarily through branches and banks with different business models,” the proposal reads. “The designation of new retail loan rating zones would ensure that, regardless of distribution channel, large banks would have their retail loan ratings in local markets where they have significant retail lending activity. .”

These changes have raised some concerns for Massachusetts banks. The facility-based assessment area could mean that banks would have their lending business assessed for an entire county, even if they only have branches in part of the county.

Diane McLaughlin

“Just because you have a branch in the northwest part of Middlesex County – maybe you have seven or eight branches up there or in central Massachusetts – does that really mean your area rating is the whole county of Middlesex? Ben Craigie, vice president of government affairs at the Massachusetts Bankers Association, told Banker & Tradesman.

In a letter to regulators, Craigie noted that these types of geographic differences occur throughout Massachusetts and New England.

Banks also have concerns about the retail lending assessment area and the potentially broad areas where banks will need to engage in ARC activities.

“Not all major banks currently have the staff and technology equipment to engage in large-scale CRI activities in these new RLAAs,” Craigie wrote to regulators.

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19 entities you should avoid taking loans from https://reynoldsrecords.com/19-entities-you-should-avoid-taking-loans-from/ Sat, 27 Aug 2022 17:11:45 +0000 https://reynoldsrecords.com/19-entities-you-should-avoid-taking-loans-from/

Dr Ernest Addison is Governor of the Bank of Ghana

The Bank of Ghana has asked Ghanaians to divest from some 19 credit operators in the Ghanaian market.

The Central Bank said the entities were not licensed, so clients trading with them do so at their own risk.

In a statement dated August 22, 2022, seen by GhanaWeb, the Bank noted that these “unlicensed entities are engaged in lending to the Ghanaian public, in violation of the Banks and Specialized Depository Institutions Act 2016. (Law 930).”

The statement further mentions that these illegal entities mainly employ the use of mobile apps and social media in their activities.

“The activities of these unauthorized entities constitute a violation of the
consumer protection requirements and misuse of customer data and privacy
laws,” he added.

It is however not clear if there are other entities, but the Bank of Ghana lists these 19 financial entities among the entities providing lending services without a license from the Central Bank.

1. SikaPurse Quick Online Loan

2.4Cedi Instant Mobile Loan Application

3. Zidisha Online Loans

4. Ghana Loan Application

5. Chaste Loan Application

6.LoanClub-Ghana Instant loan

7.AdamfoPa Loan

8.MetaLending – Instant Cash Loan

9. Wohiasika Loan (Ghanaloan.net)

10. Boseafie – Bosea micro-credit

11. SikaKasa online loan

12.LoanPro – digital and instant loan

13. SikaWura Loan Application

14.BegyeBosea Ready

15.LendingPapa – Online Loans

16.CrestCash Loan

17.Credxter – Loans and lease-purchase

18.Mobile Loan Application

19.Cedi Now – Cash Loan Application

SSD

]]> 6 BEST PERSONAL LOANS FOR BAD CREDIT WITH GUARANTEED APPROVAL https://reynoldsrecords.com/6-best-personal-loans-for-bad-credit-with-guaranteed-approval/ Wed, 24 Aug 2022 22:08:28 +0000 https://reynoldsrecords.com/6-best-personal-loans-for-bad-credit-with-guaranteed-approval/

Disclaimer: This is sponsored content. All views and opinions are those of the advertiser and do not reflect the same of WTKR.

Who doesn’t think about paying our stacking bills? What if there are expenses that we need to cover unexpectedly? Then what ? If you encounter this, it’s a good thing that there is an option available to you – that of getting a loan. If you have bad credit, then a loan for bad credit is your saving grace.

This article will provide you with several of the leading bad credit lenders in America. These bad credit lenders are reputable. Be careful though because on the credit market, there are also fraudulent lenders.

The list we have put here for you is definitely genuine and has a good reputation in the industry. They are among the best payday lenders.

No time to procrastinate, let’s move on and discuss some of them. Check out the list below:

#1. MUTUAL MONEY – Best personal loans for bad credit

#2. CREDITLOAN – Best Loans No Credit Check

#3. FUNDSJOY – Best online loans for bad credit in 2022

#4. REAL AMERICAN LOAN – Instant approval for bad credit loans

#5. XMASFUNDS.COM – Payday loans with 24 approvals

#6. FUNDSDON – Fast personal loans with approval in 12 hours

#1. MoneyMutual – The best personal loans for bad credit

Mutual money

MoneyMutual takes the top spot as the best bad credit lender today. They have made a big name for themselves through customer service and have been in the business for a long time. They have many positive reviews online and they have a great celebrity spokesperson.

I’m sure you’ve heard of the household name Montell Williams, haven’t you?

He was so popular in the 1990s. His talk show has been in the mainstream for over a decade, which is really a testament to his success. Because of this, MoneyMutual brought him in to specifically promote the business.

Their decision proved beneficial as he amassed countless clients for MoneyMutual. It was so successful that some attacked Montel Williams saying he only benefits the less fortunate.

We do not agree. Montell Williams’ reputation precedes him as he has proven himself to be a model citizen through and through. These anti-fans are nothing but jealous of his accomplishments.

=> VISIT THE OFFICIAL MONEY MUTUAL WEBSITE NOW!

#2.CreditReady – Best Loans No Credit Check Online

credit loan.png

Credit Loan

CreditLoan is the serious competitor of MoneyMutual. This bad credit loan provider has quickly risen through the ranks as an established business. They have a good clientele and they process loans in just 24 hours!

This company is worth watching. They quickly expand their business and gain more consumers. Their test now is whether they can continue their winning streak and maintain their excellent customer service with the increasing demands for payday loans. This we will have to wait and see.

=> VISIT THE OFFICIAL CREDIT LOANS WEBSITE NOW

#3. FondsJoy – Payday loans and emergency loans for bad credit

joy backgrounds.png

FondsJoy

FUNDSJOY offers quick personal loans to their consumers. The core of their business is their online marketing. Their emergency loans are available to everyone but are widely preferred by 25 to 45 year olds. FundsJoy is a great short-term lender, but they’re not perfect.

FundsJoy, like CreditLoan, is growing rapidly. More customers are added to their database and more loans are processed every day. With the rate at which they are growing, it would be interesting to see if they can handle these changes or not. If they do, they will likely become one of the best payday lenders in the money lending market.

But for now, there is nothing specific. All are written in the sand at this point. We have great respect for this company. And in fact, emergency loans are what they do best.

=> VISIT FUNDSJOY OFFICIAL WEBSITE NOW

#4. REAL AMERICAN LOAN – BEST PAYDAY LOANS ONLINE

real american loan.jpg

Genuine US Loan

Genuine American Loans are for Real Americans, as the name suggests. This bad credit loan company understands who their customers are. Their customers are proud Americans who are looking for the best bad credit loans in America.

True American Loan is an established company with many bad credit loan options. Check out these loans below:

  • Loans for bad credit
  • Personal loans for bad credit
  • Online payday loans
  • Loans for bad credit with guaranteed approval
  • Short term loan
  • Installment loans
  • Ready in 24 hours
  • 12 hour loans
  • 6 hour loans
  • 2 hour loans
  • $500 loans
  • $400 loans
  • $300 loans
  • $200 loans
  • $100 loans
  • $50 loans
  • $25 loans
  • $15 loans
  • $10 loans
  • $5 Loans
  • Instant Loans
  • Ready in 48 hours
  • No credit check loans
  • Direct lending from lenders

True American Loans is not as distinguished as MoneyMutual. But it does not matter. Despite their size, they are still able to offer their services to their target market. This target market is proud Americans who are looking for a loan for bad credit.

=> VISIT REAL AMERICAN LOAN WEBSITE NOW!

#5. XMASFUNDS.COM – The most famous Christmas no credit check loan company

christmas backgrounds.jpg

Christmas fund

CHRISTMAS FUNDS – Due to their name at the most popular holidays of the year, you might be wondering how this bad credit lender fares the rest of the year, right? Wonder no more because we’ll tell you – they sure do bargains all year round! Absolutely amazing!

Despite the name of this emergency loan lender, it has not hindered their success in the money lending business. They receive bad credit loan applications throughout the year!

Please there will be no regrets if you decide to work with this payday lender. They have an excellent rating much like the others. If you are looking for an emergency loan up to $5,000, this lender might be right for you.

=> VISIT XMASFUNDS OFFICIAL WEBSITE NOW!

#6. FundGift – Best personal loans with guaranteed approval

fundgifts.png

FundGift

FundGift is the newest addition to money lenders today. We anticipate that they will progress and grow to be the best bad credit loan lender in America. He should soon dethrone the current boss, MoneyMutual.

FundsGift is growing rapidly. Their growth could be due to their convenient and fast loan times.

Opinions on FundsGift’s expansion are mixed. Some predict that MoneyMutual will remain in its current top spot, but others believe it will be FundsGift that will topple them soon.

These things cannot be decided now. We cannot know for certain who will take and retain first place.

FundsGift are experts in bad credit loans. They specialize in providing the following:

  • $500 loans
  • $400 loans
  • $300 loans
  • $200 loans
  • $100 loans
  • $50 loans
  • $25 loans
  • Instant Loans
  • Ready in 24 hours
  • No credit check loans
  • Loans for veterans

=> VISIT THE OFFICIAL FUNDSGIFT WEBSITE NOW!

Final Thoughts on Personal Loans for Bad Credit

Final Thoughts.jpg

Fast secured mortgage

(pexels.com)

So. This completes our analysis on the top 13 bad credit lenders in America. Our hope is that this article will help you immensely once you want to take out an emergency loan.

It’s up to you which of the 13 different bad credit loan providers you want to work with. All of these companies are reputable and established in their own right and will provide you with a bad credit loan. However, keep in mind that some payday lenders will be better than others.

Take this as a guide to guide you in choosing the most suitable lender for you.

If you’re still undecided after all, go with MoneyMutual, the absolute number one bad credit lender.

Visit their official website and apply for a bad credit loan today.

=> VISIT THE OFFICIAL MONEYMUTUAL WEBSITE NOW!

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Digital literacy can help people understand data protection: ministry https://reynoldsrecords.com/digital-literacy-can-help-people-understand-data-protection-ministry/ Thu, 18 Aug 2022 17:32:30 +0000 https://reynoldsrecords.com/digital-literacy-can-help-people-understand-data-protection-ministry/

We have (programs) at different levels

Jakarta (ANTARA) – Holding digital literacy programs is a way to help the community understand data protection at the grassroots level, the Ministry of Communication and Information has said.

“We have (programs) at different levels. For the general public, (we have) Indonesia is becoming more digitally capable (program),” said Devie Rahmawati, expert staff from the Ministry of Communication and Informatics for communication and mass media. “Gizmo Talk: Challenges to Build Indonesia’s Digital Sovereignty” webinar, Thursday.

Indonesia has faced great challenges over the past two years, and the COVID-19 pandemic has forced everyone to use digital technology. According to Rahmawati, the digital space must be understood as a public space.

Related news: The Government organizes training in digital culture for the civil apparatus of the State

If social media accounts are analogous to a digital home, many people will be able to see the content of the home. Through digital literacy programs, people are expected to become more aware and savvy about what they share on their social networks.

Currently, many social media games require users to submit their personal data, for example, their mother’s maiden name and home address. Sometimes people unknowingly share this data on social media.

According to her, education regarding data protection and security not only covers how to prevent data leakage, but also what to do when a data leakage occurs.

Related News: DEWG to Discuss Responsibility to Build Digital Literacy

She cited research from Gadjah Mada University which showed that there are still victims of data breaches – such as those who have taken out illegal online loans – who are reluctant to report them because they are ashamed and accepted it as a misfortune.

Expert staff advised victims of data breaches to report to the proper authority so that their case can be investigated. According to her, by reporting, victims also help others who are experiencing similar problems.

The “Indonesia Becomes More Digitally Capable” program aims to reach 10 million citizens per year. By the end of 2024, it is expected that there will be approximately 50 million digitally literate citizens.

Rahmawati said education and digital literacy programs will never stop as the community currently lives in two worlds: real and digital.

Related News: Ministry and Siberkreasi GNLD launch 58 digital literacy books

Related News: B20 stresses the importance of improving the digital literacy of MSMEs

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How do I get an SBA self-employed loan? – Forbes Advisor https://reynoldsrecords.com/how-do-i-get-an-sba-self-employed-loan-forbes-advisor/ Tue, 16 Aug 2022 17:20:06 +0000 https://reynoldsrecords.com/how-do-i-get-an-sba-self-employed-loan-forbes-advisor/ Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

If you are self-employed and need financial assistance, you may qualify for a loan from the US Small Business Administration (SBA). These loans can provide much-needed funds at competitive interest rates, but you’ll need to meet eligibility criteria set by the SBA and its network of individual lenders.

Who qualifies as self-employed?

The IRS defines someone as self-employed if they are a sole proprietor or an independent contractor carrying on a trade or business. Likewise, a member of a partnership or someone who is otherwise in business for themselves is considered self-employed under IRS guidelines. This also includes part-time businesses. Since LLC members are generally taxed as sole proprietors, LLC owners are also considered self-employed.

Although the SBA does not define the term self-employed, it restricts its loan programs to small businesses. What constitutes a small business is an industry-specific determination, but small businesses generally must have fewer than 1,500 employees.

SBA loans available for the self-employed

Eligible self-employed people can benefit from several types of SBA loans. In general, SBA loan rates are competitive and come with lower down payments than other business loans. Some of the more popular options include:

SBA microloans

SBA microloans are available through a nationwide network of government-backed nonprofit lending organizations. Microloans can be used for a variety of purposes aimed at rebuilding, reopening, repairing, improving or improving a small business. Approved expenditures include working capital, inventory or supplies, furniture, fixtures, machinery and equipment.

The maximum amount you can borrow through an SBA microloan is $50,000 and the maximum repayment period is six years. SBA microloan interest rates range from 8% to 13% as of August 2022.

Since the microcredit program is administered by a network of intermediary lenders, eligibility requirements vary. In general, however, business owner applicants must provide security and personally guarantee the loan in addition to demonstrating their qualifications.

SBA 7(a) Small Loans

The SBA 7(a) loan program is the SBA’s flagship and most popular loan program. Funds are available up to $5 million and can be used for a variety of purposes, including working capital, purchasing equipment, and business expansion costs. Business owners can even use the proceeds to finance the purchase of real estate.

The interest rate on an SBA 7(a) loan is pegged to a base rate (prime, LIBOR, or an optional anchor rate) plus 2.25% to 4.75%, depending on the amount and term of the loan. ready. Loan terms extend up to 15 years for real estate and 10 years for equipment, working capital and inventory loans.

Eligible borrowers must operate for profit in the United States or its territories and demonstrate that they have reasonable equity to invest. As with other SBA loans, it is also necessary to use other sources of funding (such as personal assets) before applying for the government guaranteed loan.

SBA Express Loans

SBA Express loans fall under the 7(a) program and are available for up to $500,000, with a maximum SBA guarantee of 50%. Interest rates are ultimately negotiated by individual lenders and borrowers, but cannot exceed the SBA maximum prime rate plus 6.5%. Repayment periods extend up to seven years for lines of credit, 25 years for real estate and 10 years for other loans.

Express Loans are a great choice for self-employed applicants who need quick access to cash, as the SBA responds to Express Loan applications within 36 hours of receiving them. This is significantly faster than the five to 10 business days it takes for small 7(a) loans.

Credit and eligibility decisions are made by individual lenders, so requirements vary. However, borrowers must meet the lender’s credit rating, minimum time in business, and annual income requirements.

How to apply for an SBA loan as a freelancer

The process for applying for an SBA loan as a self-employed person varies by loan program and individual lender. However, there are some general steps to follow when applying for an SBA loan:

  1. Check your credit score. Before applying for an SBA loan, check your personal FICO score and review a credit report from at least one of the major credit bureaus – Equifax, Experian, and TransUnion. SBA loans generally require a credit score of at least 680, but lenders impose their own requirements. Understanding your credit profile can help you gauge your chances of approval and give you a chance to improve your score before you submit an application.
  2. Write a business plan. To qualify for a business loan, you will need to create a business plan that demonstrates how your business makes money and how it will use the loan proceeds. This is especially important if you have been in business for less than two years.
  3. Determine the type of SBA loan you need. Visit the SBA website to view available loan programs. Choose an option with a borrowing limit and approval time that suits your needs. Also review any program-specific requirements to make sure you qualify.
  4. Select a lending partner. Enter your postal code on the SBA Lender Match tool to locate a lender in your area. Familiarize yourself with the lending partner’s credit and income requirements and the application process to confirm your eligibility.
  5. Identify sufficient safeguards. Depending on the SBA program and the lender, collateral may be required to secure the loan. Compare lenders and programs to determine collateral requirements and consider these when choosing a loan offer.
  6. Gather the necessary documentation. The SBA loan application process varies by lender, but applicants are generally required to provide documents such as tax returns, business financial statements, projections, and outstanding debts. Streamline the process by compiling these documents before submitting an application.
  7. Submit an application. Once you have identified an SBA lending partner and lending program, submit a formal application. A loan officer will contact you by phone or email if additional information or documentation is needed. Keep an eye on these communications to avoid delays in loan processing and approval.

Ways to Use SBA Loan Funds

There are several ways to use SBA loan funds to help your business, but permitted uses may be restricted by the specific loan program. Some common uses of SBA loans include:

  • Purchase of inventory or equipment
  • Pay for renovations or repairs
  • Hiring new employees
  • Pay marketing or advertising costs
  • Develop your business operations
  • Buy a new commercial space

Are SBA loans hard to get?

It’s not difficult to qualify for an SBA loan, but the application, approval, and funding processes can be lengthy. This means that self-employed business owners who need quick access to cash may be best served by an online loan, business credit card, or other alternative.

Eligibility criteria

SBA lending requirements vary by lending program and individual SBA-approved lenders. However, the SBA imposes some basic eligibility guidelines that all applicants must meet as part of the application process. For example, a company must demonstrate that it is able to repay its loan.

Here are the basic eligibility requirements for a business to obtain an SBA loan:

  • Must operate for profit in the United States or one of its territories
  • The owner must have already committed their time and money to the business
  • Must have exhausted all other financing options

Alternatives to SBA Loans

If you are not approved for a loan, you may still be able to obtain financing from other sources. SBA loan alternatives often come with higher interest rates or less favorable terms, but they may be easier to obtain.

Consider these options if an SBA loan isn’t right for your business.

Online loans

Independent business owners can use some personal loans to cover start-up or operating expenses or apply for business loans. Although these loans are available from banks and lenders, it can be difficult to qualify with a traditional financial institution, and the rates and terms are often less competitive than with online options.

Expect to pay between 4% and 36% annual percentage rate (APR) for an online personal loan with terms up to seven years. As always, compare personal loans and the best small business loans before deciding on one and prequalify if possible.

Business credit cards

Business credit cards are easier to obtain than SBA loans and offer much faster approval speeds, with consumers often receiving a same-day or even immediate decision. This approach to business financing can also help you build your credit history and make it easier to get approved for future loans.

Although credit cards can be a convenient way to pay for small expenses, they usually have high interest rates (around 9% to 27%), so look for one that offers a 0% introductory period. .

Personal savings

If you have money in a savings account, consider using some of it to fund your business. We don’t recommend withdrawing money from retirement accounts or emergency funds, but using cash can be a good option if you don’t have good credit or have trouble getting loan approval.

Equity financing

Independent business owners who need access to large sums of money can also opt for equity financing. It involves selling part of your business in exchange for funding. However, this option can be risky as it may involve handing over the decision-making to someone outside of your organization. For this reason, it should only be considered as a last resort, and you should always have a business attorney review the terms of the agreement.

Find the best small business loans of 2022

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