by Sunil Srivastava | Jul 29, 2024 | SNP Finserv
1. Understanding Emergency Expenses Definition: Unexpected, urgent costs that require immediate financial attention. Examples: Medical bills, car repairs, home repairs, emergency travel. 2. Situations to Consider a Personal Loan Lack of Emergency Savings: When you...
by Sunil Srivastava | Jul 19, 2024 | SNP Finserv
1.Startup Costs: For new businesses, a business loan can be used to cover initial startup costs such as purchasing equipment, leasing office space, hiring employees, and initial marketing expenses. 2.Working Capital: Many businesses use loans to manage their...
by Sunil Srivastava | Jul 19, 2024 | SNP Finserv
1.Lower Interest Rates: LAP generally offers lower interest rates compared to unsecured loans like personal loans or credit cards. This is because the loan is secured against the property, which reduces the risk for the lender. 2.Higher Loan Amounts: Since LAP is...
by Sunil Srivastava | Jul 5, 2024 | SNP Finserv
Not Comparing Interest Rates: Explain the importance of shopping around and comparing interest rates from different lenders. Discuss how even a small difference in interest rates can significantly impact the total cost of the loan. Ignoring Fees and Charges: Highlight...
by Sunil Srivastava | Jun 7, 2024 | SNP Finserv
Financing Day-to-Day Operations: Discuss the need for consistent cash flow to cover expenses like payroll, supplier payments, and other short-term obligations. Explain how working capital loans can bridge gaps in cash flow and ensure operational continuity. Funding...
