CUSTOMER SERVICE: 1-866-499-2363
    
agency-it

How Much Collateral Is Needed for a Business Loan

If you’re seeking a business loan, putting up collateral may be a sound decision. With collateral, you can often get better conditions, such as lower interest rates, a larger borrowing amount, or a longer repayment period. But how much will you need? Here are four major elements to consider when seeking an asset-backed loan. 1. Borrowing Amount How much you plan to borrow may be the single most important factor when it comes to determining the collateral needed for small business loans. The purpose of collateral is to ensure that the lender is able to recoup its losses if you …

Continue Reading

How Does a Secured Loan Work?

In all loans, lenders assume an amount of risk. To minimize that risk, banks look for guarantees that the loan will be repaid, either through credit checks or by accepting another item in exchange for financing. Secured loans rely on collateral as a guarantee. What Is a Secured Loan? In secured loans, the lender accepts collateral in exchange for capital. Collateral can be any kind of valuable asset, such as a musical instrument or piece of fine jewelry. Businesses can also apply for secured loans, often using items such as high-end laptops, smartphones, or automobiles. How Does a Secured Loan …

Continue Reading

How Small Business Owners Can Benefit From Asset-Backed Loans

If your small business is struggling with cash flow problems, there are plenty of readily available options for you to consider. Competitive business loans provide you with the extra time and money you may need for both personal and business use. Asset-backed loans, specifically, are great business loan considerations in situations where you may need quick cash or additional investment capital. One of the most significant hurdles between a struggling small business and a booming large business is cash flow issues. For your business to flourish, sometimes you need a quick influx of cash. Asset-backed loans provided by an online …

Continue Reading

Surprising Items That Can Be Used as Loan Collateral

When you need to borrow money, there are many ways you can do so. One option is to use our convenient online platform at Pawngo. Our loan process is similar to a typical loan in the sense that we require a form of collateral to secure the loan. It might shock you to discover what surprising items in your house you can use as loan collateral. What Is Collateral? The idea of collateral is very familiar within the lending industry as all secured loans require it. Collateral is something that you offer in exchange for the loan. It must have …

Continue Reading

Using Diamonds as Loan Collateral

If you need quick access to cash for any reason, you may consider taking out diamond-backed loans to get the money you need. As jewelry and precious stones carry so much value, you can get a fast and substantial amount of money for them when you choose to borrow against them. Jewelry Collateral Loans If you have valuable jewelry that you do not want to part with, but you need money due to an unexpected expense or major opportunity, getting a collateral loan could be an excellent solution. This method allows you to receive the money you need while your …

Continue Reading

How To Borrow Against Jewelry

Sometimes, you need money fast. Some people prefer to use what they have saved, take out a bank loan, or refinance the mortgages on their home. For those who want a fast solution without dwindling savings, there are jewelry-backed loans. What Are Jewelry Backed Loans? Jewelry-backed loans allow you to borrow money based on the value of your rings, necklaces, bracelets, or other valuable pieces. When you use jewelry as loan collateral, the lender holds onto the pieces until you pay back the amount you borrowed, plus interest. If you fail to pay back the money by the agreed-upon terms, …

Continue Reading

Why You Should Avoid Title Loans That Don’t Require Your Car

As the old saying goes, if something seems too good to be true – it probably is. When it comes to title loans that don’t require your car, that adage has never been truer. Companies that provide these types of loans often make plenty of lofty promises, but what they don’t tell you is that you should expect to learn a few very expensive lessons by the time you’re done paying back the loan. What to Look For We’ve rounded up a few reasons why you should avoid vehicle title loans that don’t require your car, as well as a …

Continue Reading

Quick Ways to Make Cash for Your Upcoming Vacation

Planning your next vacation is usually an enjoyable experience: browsing the best local restaurants, booking a hotel with plenty of amenities, and making your list of sightseeing musts. Figuring out how to save money for vacation isn’t necessarily one of the most fun elements of planning your trip, but it doesn’t have to be stressful either. 3 Ways to Get Vacationing Money There are plenty of easy ways to make quick cash to fund your upcoming vacation, whether you’re planning a short weekend staycation or an extended global adventure. Even if you’ve already saved money for your flight, car, or …

Continue Reading

How to Get a Large Personal Loan Online

A personal loan can serve many purposes, like funding your family’s dream vacation, financing an unexpected home repair, paying for medical expenses, buying real estate, or allowing you to start your own business. Whatever the case may be, the key feature of a personal loan is that they are, inherently, needed for personal reasons – so why do banks require such an invasive, frustrating loan process? Endless questioning, piles of paperwork, credit checks, and the expectation to repeatedly defend your need for the loan are all unfortunate parts of the traditional loan process. Not only can these factors make the …

Continue Reading

How to Get a Car Loan with No Proof of Income

For most people, the idea of car shopping brings up images of mountains of frustrating paperwork, pressured negotiations, and – all too often – rejections. Traditionally, for people trying to figure out how to get a car loan, the primary option was a loan backed by the bank. Collecting personal information, examining proof of income, and conducting invasive credit and background checks are typically part of working with any traditional lender. It can be a long, arduous process, resulting in painful rejection for car shoppers that don’t necessarily fit within the banks’ narrow guidelines. The Smarter Way to Secure a …

Continue Reading