Loans / Lease

In today’s fast-paced world, finding a place to live that fits our budget is crucial, but it’s often a daunting task. This is where Porchlio’s Rent Affordability Calculator comes into play. This innovative tool is designed to help you understand how much rent you can afford based on your financial situation. Let’s dive into how it works and why it’s a game-changer for renters everywhere.

Understanding the Basics

Before we get into the nitty-gritty of the calculator, it’s important to understand some basic terms:

Monthly Disposable Income: This is the money you have left after taxes and other mandatory expenses. It’s basically what you can spend on your needs and wants.

Monthly Expenses: These are your regular costs, like food, transportation, insurance, and entertainment.

Percentage of Income Spent on Rent: Experts suggest that you should spend a certain percentage of your income on rent to maintain a balanced budget.

How Does Porchlio’s Calculator Work?

The calculator is user-friendly and only requires three pieces of information:

1. Your Monthly Disposable Income
2. Your Monthly Expenses
3. The Percentage of Your Income You Want to Spend on Rent

Once you input these details, the calculator does its magic. It calculates the maximum rent you can …

Small and Medium Business (SMB) funding, my friend, is the lifeblood of many a budding enterprise. It’s all about obtaining the financial means to fuel growth, cover expenses, or seize opportunities.

Now, SMB funding comes in various flavors, each with its quirks. Here’s a brief rundown:

Traditional Bank Loans: These are the classics, where you stroll into your local bank and ask for a loan. They can be secured (with collateral like assets) or unsecured (no collateral). Banks tend to be more conservative, demanding solid credit and financial history.

Business Credit Cards: Plastic power, my friend! Business credit cards provide a revolving line of credit that you can use for expenses. They’re convenient but watch out for high-interest rates.

SBA Loans: The Small Business Administration (SBA) offers government-backed loans, making them easier to secure. They’re great for startups and expanding SMBs.

Online Lenders: These digital wizards offer quick, often short-term loans with less stringent requirements. Perfect for when you need cash in a hurry.

Crowdfunding: Gather a crowd and pitch your business idea on platforms like Kickstarter or Indiegogo. People chip in, and you fund your dream.

Venture Capital: This is for the big dreams. Venture capitalists invest substantial sums …

Get the Cash You Need: Quick and Easy Loan Approval for Your Next Adventure!

Are you dreaming of your next adventure but don’t have the cash to make it a reality? Look no further than our quick and easy loan approval offer! Whether you’re planning a trip around the world, a cross-country road trip, or just a weekend getaway, our loan approval offer can help you get the cash you need to make it happen.

Here’s how it works:

Step 1: Fill out our online application form with your personal and financial information. It takes only a few minutes to complete, and we’ll ask for basic information such as your name, address, income, and employment details.

Step 2: Our team of loan experts will review your application and verify your details. We’ll also run a soft credit check to assess your creditworthiness.

Step 3: Once we’ve reviewed your application and assessed your creditworthiness, we’ll provide you with a loan offer. You’ll receive the offer via email, and it will contain all the necessary information, such as the loan amount, interest rate, and repayment terms.

Step 4: If you’re happy with the loan offer, you can accept it online, and the …

These loans are best used by seasonal businesses and business owners who need a temporary cash boost to stay afloat. The most common working capital loans are term loans, lines of credit, SBA loans (U.S Small Business Administration), and invoice factoring loans.

Generally, working capital loans are used to support a company’s day-to-day operations, such as sales and marketing, wages, product development, and employee benefits. Do you want to learn more about working capital loans? Here is what you need to know!

Precisely What is a Working Capital Loan?

A working capital loan is financing the company’s day-to-day operations.

The loan is usually not used to purchase long-term assets or investments but rather to provide working capital for a company’s short-term operational needs by covering the cash flow required to cover the short-term requirements of the company. These expenses can include rent, payroll, and debt payments.

Understanding Working Capital Loans

Companies sometimes do not have sufficient cash or asset liquidity to cover daily operating expenses, so they secure a loan. During periods of reduced business activity, companies with seasonal or cyclical sales may need working capital loans.

It is rare for companies to have stable or predictable revenue throughout the …

Non Conforming Lenders and Private Lenders can solve the cash flow problem of business owners with the help of a private loan (sometimes referred to as a short-term 1st or 2nd mortgage or a Caveat Loan). The loan is ideal for business owners because:

Bank style credit approvals are not required

Tax returns are not required

Interestingly, a private loan is not only right for a business owner but it can also be beneficial to a property developer or an investor.

Private Loans – Definition

They are fast settling loans, which are structured for a short-term of usually between 1 to 12 months, with a possible rollover (if required).

How does a Private Loan work?

These loans are simply an ‘asset lend.’ For private loans, all you need is to be the owner of a piece of real estate. Here is a list of residential, commercial, industrial or specialised securities that the loans are commonly secured against:

A home or a unit if owned by a Company or Trust

Vacant land / Development

Medical centres

Child care centres

Commercial properties\

Land Bank

Rural land, farmland or agricultural land

How are Private Loans Structured?

They are structured just for a short-term …

A business line of credit is one of the most popular type of business loans for the small business owners or those who are starting up a new business. It could act as a lifeline of financing that allows them to pay their bills, meet their payroll and continue to operate even when the times are tough or business is slower than usual.

Being a business owner, you know that there are different stages in the life of your company. Sometimes, your company is ready to expand into new markets and into new product lines and it is at these points that you will need to invest money. Those who have saved up will use finances from their own personal bank account or equity they have built up in the business or personal assets to put into their business undertaking. However, having a large stockpile of personal funding available is not applicable to everyone, and is not an available option to most.

When you don’t have the back funding for your business needs on hand, you have many different areas that you can go down in order to borrow the money that is needed. A few of the many ways …

Building business credit is effective to get cheaper financial loans and grow your company. This is why you should make efforts to build good credit for your business. However, some practices can damage your score instead of improving it. Find out about these to ensure your efforts are not going to waste.

Obtaining many credit cards

Getting a business credit card is excellent if you want to build business credit. It is easy to acquire and doesn’t require a lot of documents. Most company owners can qualify for it, especially if the owner has a good credit score.

A company credit card is helpful to separate personal expenses from business transactions. It also offers a higher credit limit than a personal credit card and some offer rewards, cashback, and very low opening APR which you can take advantage of to buy the supplies you need for your business.

Unfortunately, getting multiple credit cards at once is a bad idea as applying for many credit cards in a short period can decrease credit scores. Because it indicates that the business is relying on credit to fund its needs.

Reaching Credit score Limit

Credit utilization rate is a big factor in credit …

Small business loans are often denied for a variety of reasons. Traditional lenders have historically used more stringent decision factors and lending credit restrictions to mitigate risk. The Federal Reserve Banks of New York, Atlanta, Cleveland, and Philadelphia performed a survey. It found that only 50% of small businesses that requested funding in the first half of 2014 received any money.

The easiest method to prevent a small company loan from being denied is to be aware of the traits lenders frequently see as red flags. Undoubtedly, some banks will be more detailed than other. In general, banks are obligated by law to mail you a notification outlining the reasons why your loan application was rejected.

Here are the primary reasons why small business loans are turned down and what your company can do to avoid these drops.

Low Credit Score for small business loans

One of the most common reasons a business loan is rejected is that the company’s credit rating is lower than the lender prefers. Your company’s financial history will be used to calculate your business credit score. Lenders will then use it before approving a business loan application to determine whether your company will likely repay …