• Pacific Bay Finance

    Welcome to Pacific Bay Finance, your number one solution to consider if you have been thinking about starting a renovation project at your home. Whether it is a small project or a complete renovation, we have all the options that you might want to consider while applying for a home loan and how to get a better deal.

    Contact UsLearn More
  • Pacific Bay Finance

    Welcome to Pacific Bay Finance, your number one solution to consider if you have been thinking about starting a renovation project at your home. Whether it is a small project or a complete renovation, we have all the options that you might want to consider while applying for a home loan and how to get a better deal.

    Contact UsLearn More
  • Pacific Bay Finance

    Welcome to Pacific Bay Finance, your number one solution to consider if you have been thinking about starting a renovation project at your home. Whether it is a small project or a complete renovation, we have all the options that you might want to consider while applying for a home loan and how to get a better deal.

    Contact UsLearn More
  • Pacific Bay Finance

    Welcome to Pacific Bay Finance, your number one solution to consider if you have been thinking about starting a renovation project at your home. Whether it is a small project or a complete renovation, we have all the options that you might want to consider while applying for a home loan and how to get a better deal.

    Contact UsLearn More

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Getting a Loan is Easy When You are Prepared

Getting a loan is easier than you may think. Lenders are eager to provide loans because that’s how they stay in business. Qualifying for a loan can be difficult depending on the lender. Some lenders only work with people with excellent credit, while other lenders will work with people with less-than-perfect credit. To make things easier for you, there are several things you should consider and take care of before you decide to obtain a loan.

Know your credit score

Before you apply for a loan, you should know your credit score and all the information on your credit report. There are several places online where you can go to get your credit report for free. Your credit score tells lenders how well you can handle borrowing money. Your score will fall into one of five ranges:

  • Excellent: 750 or higher
  • Good: 700-749
  • Fair: 650-699
  • Poor: 550-649
  • Bad: 549 or less

Having a credit score in the good to excellent range means you may be offered favorable loan terms like having a lower interest rate.

What type of loan do you need?

Are you looking to buy a home or car? Do you want to open a business or expand your existing business? Will you be attending a college or university? Do you need to make home improvements? Knowing the type of loan you need is helpful because it will determine the type of lender you should go to for a loan. Some lenders offer multiple types of loans while others specialize in one type of loan. Shop around to see which lender will provide you with the easiest way to get the right type of loan.

How much money do you need?

The answer to this question can easily be answered with a home or car loan. The price of a home or car will determine how much money you will need to borrow. Knowing the amount of money you need for a business or personal loan is different. The key to making it easier for you to get a business or personal loan is to know exactly how much money you need to borrow and knowing how you plan to use the money.

Collect documents

The last step before you apply for a loan is to collect your financial documents. Providing these documents to your lender at the beginning of the process will help to speed up the loan approval process. The number of documents you need will vary depending on the type of loan you need. Lenders will typically ask for pay stubs, bank statements, and and one to two years of tax returns.

Getting a loan is easy if you are prepared. Know the type of loan you want, know how much money you need, then gather all the necessary documents to make the borrowing process go through as easy as possible. If you are looking to apply for a loan after having read this article, Need Money Now offers easy loans.

How to acquire nonprofit startup grants (fundraising)

Have an amazing business idea?! Well, a lot of people do and often times, they need startup funding. If you are one of these people who think you’re startup has what it takes to hit the charts here’s a list of ways to gain funds for your new startup or fundraiser.

  1. Bootstrapping

This is a fairly common way to get a business started. You use your own money to start up the business, often times the money comes from low or ihigh nterest loans, personal savings, mortgages and lines of credit attached to your house. Receiving a free credit report will help you see where you are financially and knowing how much interest rates you’ll get on your loans. Unfortunately if you’re startup fails you will be left with a mountain of debt and a broken heart. This is why so many people hate this form of fund raising.

  1. Obtain a tiny business loan.

There’s a ton of banks that provide loans catering to small businesses. But banks have a track record of being selective when it comes to the compiles they choose to give money too. Be very careful with these loan lending companies. Some give you high interest rates and are predatory. Think twice before signing onto a loan.

  1. Trade services or equity.

Do you need a website? Need someone to market your products? See if someone you know can do the job of promoting your startup and in return do some work for them or give them advice on topics they need help with and you are knowledgeable about. In almost every city there’s an abundance of communities and business owners who work together.

  1. Incubator or Accelerator

Business incubators and accelerators have popped up all over the country, especially near colleges with active business programs. These spaces are mentorship development centers combined with communal workspaces. They’re perfect with other people and companies. Unfortunately, the majority of them work with technology businesses so you might not be able to find one that works for you or stuggle to find one.

  1. Try crowdfunding.

If your idea sparks the interest of a lot of people, and you are good at or willing to learn about marketing on social media you should try crowdfunding. Sites like Indiegogo and Kickstarter are great places to start and have a history of helping others get their businesses off the ground. Unfortunately, there’s a fricd number of competition against you, and they’re all in it for the same goal you are. So you need a lot of fame and attention in order to get the amount of support you want. You could also overwork yourself and enrage your backers which can hurt your relationship with them, or you could fail to get the fundraising you need.

Which way do you pefer to obtain startup funding, did you try any of these yet or plan to? Make sure to check Giving Tuesday and also tell us in the comment section below and don’t forget to share us with other startup owners!

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