We are currently offer all types of loan to the general public at 5.90% interest rate. We give from 1 year to 30 years repayment duration, and we also offer loan within the minimum range of $ 1000 to maximum of $ 20, 000, 000, 00, and other internationally accepted currencies, to any part of the world.
Any time a loan is given, regardless of the amount, a contract should be written outlining the terms of the loan that include the amount of money borrowed, any interest added to the principal amount, if any, repayment responsibilities, and any restrictions or other obligations.
Available Loan Types
• A secured loan is one in which real or personal property is used as a pledge for repayment. Real property may be a home, commercial building, industrial building or complex, apartment building, vacant land, farm or ranch land, or other property. Personal property may be a car, jewelry, furniture, or other objects with value.
• An unsecured loan is one that is given with a verbal or written agreement to repay with no property involved, real or personal.
Because they're just taking your word for it, you have to have decent credit to get an unsecured loan.
Unsecured loans are sometimes called 'signature loans' because we has nothing but your signature -- they can't take possession of your house, car, or other belongings. However, they can report you to the credit reporting companies and ding up your credit.
For people who don't have any collateral to pledge, an unsecured loan can be attractive.
Unsecured personal loans allow you to borrow money for almost any purpose. You can use the funds to start a business, consolidate debt e.t.c. Before you get an unsecured loan, make sure you understand how they work and what the alternatives are.
Basics of Unsecured Personal Loans
When a loan is unsecured, there is no property or collateral to “secure” or guarantee the loan. For example, a mortgage loan is secured with property -- if you don’t repay the loan, your lender has the right to sell your home and collect what you owe out of the sales proceeds. With unsecured loans, nothing specific has been pledged as collateral. This makes them a little less risky for you (the borrower) because the consequences are not as immediate if you fail to repay.
Lenders, on the other hand, take more risk with unsecured personal loans. They don’t have any property to sell if things go badly, but of course they have other options available if they want to pursue repayment (they can take legal action against you and attempt to collect from your wages, for example). Because lenders take more risk, they generally charge higher interest rates for unsecured personal loans than they do for secured loans.
Your credit is one of the most important factors that determine whether or not you’ll get an unsecured loan. If you have good credit, you’ll pay lower interest rates and you’ll have more options available to you. If you have bad credit, you can’t be as choosy, and you may need a co-signer to get approved for a loan.
The first step is to figure out what you need; how you get the loan will depend on the type of borrowing you’re doing. Choose the type of loan that best fits whatever you will do with the money. Some loan types include:
Auto loans
Home loans (mortgage loans), including second mortgages
Personal loans
Business loans
Agricultural loans
Education loans (student loans)
In some cases, you won’t have much choice -- it’s not likely that anybody will lend you enough to buy a home unless you use a loan designed for that purpose. In any case, using a loan that matches your need will improve your chances of getting the loan and keep your costs low.
Understand Your Credit
You generally need “credit” to get a loan. This means you’ve got a history of borrowing and repaying loans. How do you get a loan if you don’t have credit? You have to start somewhere, and that generally means borrowing less and paying more. Once you develop a strong credit history, lenders will lend you more and offer better rates.
