Info from SunTrustBank, Nov 22, 2018
Personal loans versus wages makes loans a more attractive solution to perpetual cash-strapped situations. Even those of us in entrepreneurship nickel and dime our way in our businesses with no major outlets to a real financial freedom in this U.S. market as of November 2018, except of course the government money printers. Government money Printers are free to dictate the flow of the monetary and its market systems to us but we have no way of knowing what is going on for so long. So a speedy loan, say, not against a car or house, of $12,500 at 5 year term at an interest rate of around 23%, seem to soar. Its a core banking product that’s been around since the beginning of banking. Our family finances seems to have been leveraged out and there seem to be no recourse to offset out plight.
Online lending platforms are shining examples. So say you want to produce music you might want to get a loan instead of a sugar Daddy or if your family is too poor. A healthcare loan might be a liability and a business loan might be an asset cost. How are you going to off start your business without getting a loan to alleviate shortfalls and delays? The drip drip system causes ruinous delays.
U.S. household debts is still very high against take-home incomes making a pitiful financial story. What is the way out to gain the financial impasse? Know which banks are business-friendly and healthcare loan-friendly and how much you can pay overtime. For some maybe the loan can help them gain access to the market without delay. Background checks can be too restrictive as a way to get a loan due to student loans, credit cards etc. If you cannot get a loan how are you going to move forward with your business, even though that’s exactly what it needs, injection of cash, to propel it forward. Its time to look for investors and bankers.
Be sure about your sale point on how to pay back with the interest. For example City National Bank specifies loan services for musicians if you are around New York.
If lenders want their consumers to have more choices to buy their products aka their money serving then give them more choices so they dont cash-starve.
The way bankers present themselves and how journalists present them is pretty poor for consumers to understand fully what loans and the lending culture is, a pretty much purchasing of a money. Money cannot be purchased except through a coined term “lend”. If consumers understand they are actually purchasing money out of a system to gain access then that’s what we want. Then the misconception is pretty bad.
Here is Discover line of products on sale to the consumer:
A Loan is actually purchasing a money. You need it, its vital to your success. Ask for a grace period to start making a payment, possibly a year’s time, to start paying back the loan for 3 or 5 years time. Depending on how good your product is and the reception it gets in the market.
You certainly cannot have your savings to pay for business item unless its an expense with no prospect of a return. Your product must pay (profit and gains) for the loans. Depending on how fast your products get sold in the market. You either have to be in a buy-sell mode OR in employment to make install payments.