When it comes to securing personal loans with bad credit, it may all seem quite impossible. But there are plenty of options available to bad credit borrowers, often regardless of their credit score. It is usually a simple matter of finding them and meeting the criteria.The Internet has made the task of finding them a lot easier, with comparison sites allowing the best options to be found in a matter of seconds. And with the benefit of online technology, getting fast loan approval has also become a standard feature from online lenders.But while accessibility has certainly improved, there are still qualifying standards to satisfy and criteria to meet before a personal loan can be approved.Common FeaturesDespite the array of options to bad credit borrowers, the loans share the same category and so many of the same features. For a start, getting a personal loan with bad credit involves accepting higher interest rates and lower loan limits.Fast loan approval is usually only available for small and modest-sized loans. Depending on the lender, the limit may only be just $2,500, though there are loans of up to $25,000 available with a 24-hours waiting period.There are ways to improve your loan terms, such as to find a guarantor, but cosigners must have excellent credit ratings to be accepted on a personal loan application in the first place. So, what are the options available?1. Secured Personal LoansGetting a secured personal loan with bad credit is no great problem. The fact that some item has been provided as collateral means that the credit score is of no great significance at all. The lender can get compensation should the borrower default, so the risk of loss is much less.This means that interest rates are lower and fast loan approval is standard. So, when applying online, expect to get approval within a few minutes and the cash deposited into your bank account in about 2 hours.2. Unsecured Personal LoansGetting an unsecured personal loan is a different matter. Since the lender is accepting the risk completely, and has no compensation from which to salvage losses, the interest rate is a lot higher and the loan sum is lower. It means that the overall cost of the loan is higher.It is possible to get unsecured no credit check loans, where the credit score is basically ignored. However, this pushes the interest rate up further. It is a matter of how desperately the loan funds are needed. If it is very, then the terms that come with an unsecured personal loan with bad credit can be worth it3. Non-Guarantor LoansThese loans are very similar to unsecured loans, but there is no interest shown in the credit history of the applicant and fast loan approval is possible so long as your debt-to-income ratio is good enough.Typically, these personal loans are available at a higher rate of interest, and the loan sum is quite limited. However, getting a term that is a little longer will reduce the monthly cost and help make larger loans (around $10,000) more affordable.4. Payday (Cash Advance) LoansThis is arguably the most popular option for getting personal loans with bad credit. However, it is also the most expensive, with interest rates as high a 30%, and full repayment from one paycheck after just 30 days.Loans are no more than $1,500, but fast loan approval is guaranteed so long as the monthly income is enough.
Avoiding Blunders in Working Capital Financing and Cash Flow Financing
Mistakes. As Business owners we all make them. Let’s talking about wrong choices in working capital financing and how the right types of cash flow financing can turn adversity into opportunity for growth and profits.All Canadian businesses need working capital, permanently, and in many cases, on a ‘ bulge’ basis from time to time. In essence you are financing your operating cycle, and most business owners intuitively know their industry has a unique cycle – that being simply the time it takes for a dollar to flow through inventory, A/R, and back to cash.Larger or established? You probably have a better chance of seeking what people refer to as ‘ traditional’ forms of financing. Quite frankly we’re not sure anymore what traditional means, as the lines are getting blurred between what some consider as non traditional working capital financing.Maybe we’re different, but we seem to meet more and more clients that are unable to access capital for growth and development. They seek to enhance working capital in a variety of methods. Those include receivable financing, aka ‘ factoring’, asset based lines of credit, financing for purchase orders ( yes, you can finance a purchase order!), and even monetizing hard assets into revolving facilities such as a short term bridge loan on equipment, with proceeds used for working capital and cash flow.The bottom line is your need to focus on liquidity, so if you have positive working capital as calculated by the text books ( current assets – current liabilities ) you must therefore monetize those assets into the ‘ cash is king ‘ model.The harsh reality is that as you textbook calculation of working capital goes up your actual cash flow is negative, given that your investments are simply tied up in inventory and receivables which seem to be collected more slowly every year in our opinion and those of our clients.Naturally if you are able to be paid in cash at time of sale, of if inventories turn very quickly, and billed customers pay promptly,, well suffice to say the cash flow financing pressures are eased quite a bit – but reality of business usually does not give us that luxury.We are often amazed at how many clients we meet who are looking for proverbial ‘ working capital ‘ but are in a position of not being able to define the type of financing they think they needThe ultimate cash flow support tool is the Chartered bank operating line of credit. But many business owners who do not qualify for these facilities are moving to either a receivable financing facility or an asset based line of credit. These come at a higher cost, but provide liquidity often 100% greater than might have been achieved previously, had they been bankable.So whats our take away tip here – simply that you must look beyond the rate and focus on what collateral you are providing to get the liquidity you need.Ultimately you need to understand your particular need and choose a financing solution that provides you with the cash flow financing to meet your business needs, as well as grow your business. You have options, which many Canadian business owners and financial managers don’t realize. Be they traditional or alternative, one or several of them will work for your firm. Speak to a trusted, credible and experienced Canadian business financing advisor who will put you on a clear path to the solution for working capital financing.
How Do We Define a Computer Data Network?
A computer data network is comprised of a number of components, including the computers and other associated network attached devices. The computers and other peripherals are usually connected to each other through a network switch or hub and by means of copper electrical connections, fibre or by means of wireless.The hubs or switches normally provide local connectivity for the computer devices, in what is normally referred to as a LAN (Local Area Network). LANs are normally interconnected by means of routing devices, whether they are in a private network or indeed the Public Internet. The purpose of a computer data network is one of sharing and collaboration, where resources are made available by some of the devices on the network for use by other devices.In Peer-to-Peer networks, individual devices offer resources to other peers on the network, but there is no central control of these resources. Each peer can offer resources such as disk space, files, or even processing power.The Client Server network model clearly distinguishes between client devices and server devices. All clients, or selected clients can have access to resources hosted on specific network servers, for example, an email server, http server or file server. The client does not host any services, but merely requests a service from a particular server device. Some servers often host and offer multiple services to clients.Data networks are to be found in virtually every environment, not least of all our homes, as most of us now have a connection to the Internet and run a small local network ourselves. Almost all businesses also run data networks to provide employees with connections to the Internet and to other sites owned by the business. Components within a computer network fall into 4 main areas, and these are: the computers and servers (sometimes referred to as host devices), interconnections (comprising the cables or wireless medium), switches or hubs (which provide the local connectivity and routers that enable Local Area Networks to communicate with each other.The purpose of the computers is to host the private user information and also to provide a data interface to the network itself, in order to be able to communicate with other computers, or to connect to servers that provide information or provide some other service to the client computer devices. There are many different services or applications, with the most common coming under the headings of Email, File Transfer, Collaboration, Instant Messaging, Voice and Media over IP as well as the ability to access websites through the use of HTTP.The Servers allow the user to host a particular service such as a website with content for clients to download, email system, information service, such as a database or a storage system, where files can be made available for download.The interconnections predominantly fall into two main categories, Wired and Wireless. Modern day wired connections between end user devices and the network components are normally in the form of copper twisted pair cable, but coaxial cable or fibre optic cable can also be used. Fibre optic cable is becoming more popular, but at present it is normally used to provide higher bandwidth connections between switches and routers in the network. The communications fibre can provide extremely high bandwidth, when required and has the added benefit of being virtually immunie from electromagnetic interference.Most wireless interconnections are governed by the IEEE 802.11 standards, and users will normally access a wireless network by means of a wireless router or wireless access point. Wireless local area networks (WLANs) are becoming extremely popular, mainly due to the fact that the user is freed from the cumbersome cable connection, but wireless networks also have their drawbacks. Because most wireless networks use the unlicensed ISM (Industrial, Scientific and Medical) frequency bands, interference from other users can be a problem at times, even other adjacent wireless networks.Data switches forward the data traffic between end users and servers by using a unique identification feature known as the MAC Address, allocated to each user interface. A data switch builds up a table of all the connected user devices by reading the MAC Address in the Ethernet frames sent by each device. The table indicates to the switch the specific port of connection that each unique device is attached to. The switch can therefore ensure data is forwarded to the correctly addressed device. Some switches can provide a greater degree of sophistication by allowing the configuration of a variety of features, such as Quality of Service (QoS), port security, creation of Virtual Local Area Networks (VLANs), port forwarding and many more.Routers are designed to provide interconnectivity between different networks or sub-networks. This is achieved by addressing each device with a logical address, the most common of which is the IP (Internet Protocol) address. A router will build up a picture or map of all the available networks and router IP packets between different networks by reading the destination IP address within each data packet. In order to achieve this, local devices within a local area network must have addresses that are within the same unique range. In other words, they must have the same common network or sub-network identity. Routers can also provide a greater degree of security by filtering traffic between different local area networks or between different individual devices on the network. 7There are many other devices on modern computer data networks, such as Firewalls, Proxy Servers, Intrusion Detection Systems, Intrusion Prevention Systems to name just a few.We have come a long way since those early networks back in the early 1980s, and today’s networks are becoming more and more sophisticated as time goes by. Real time media and multimedia over data networks would be been near impossible 20 years ago, but nowadays voice and video are common media carried across our computer data networks.