by Sunil Srivastava | Sep 18, 2024 | SNP Finserv
Introduction Importance of choosing the right lender for business success.Brief overview of types of lenders: banks, credit unions, online lenders, and alternative financing. Types of Business Lenders Traditional BanksPros: Lower interest rates, long-term...
by Sunil Srivastava | Sep 2, 2024 | SNP Finserv
1.What are the Total Costs of the Loan?Ask about the interest rate, fees, closing costs, and any other charges. Understanding the Annual Percentage Rate (APR) will help you know the total cost of the loan over its lifetime. 2.What is the Repayment Schedule and...
by Sunil Srivastava | Aug 20, 2024 | SNP Finserv
Pros of Co-Signing a Loan Help a Loved One: Enables a friend or family member to secure a loan they might not qualify for on their own. Builds Credit for the Borrower: Helps the primary borrower establish or improve their credit score. Potential Relationship Benefits:...
by Sunil Srivastava | Aug 9, 2024 | SNP Finserv
Home Purchase Loan: The most common type, used to buy a new or pre-owned residential property. Home Construction Loan: Provided to individuals who wish to construct a house on a plot they already own. Home Improvement Loan: For homeowners looking to renovate, repair,...
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...
