Acknowledge The Types Of Mobile Banking Services Offered

Acknowledge The Types Of Mobile Banking Services Offered

Various customers and financial organizations seek an Ebanking app to handle their financial management. Today’s digitalized era demands personalized mobile banking services and features that can be accessed in a few taps.

A few common mobile banking services performed regularly through a mobile device include bill payments, fund transfers, credit card manager, checking account balances, or making a mobile recharge.

Customers can access smart banking in different ways or according to their needs. Let us now explore the kind of mobile banking services available and how to make the best use of them.

Mobile banking through online banking apps

Mobile banking apps are highly accessible on smartphones and are used very commonly. Download the app, register, and create login credentials to access the services such as –

  • Account access– Login to the mobile banking application and start accessing your account in a few seconds. At a glance, apply for savings account and monitor your transactions and keep track of all the important information at your convenience from anywhere
  • Balance inquiry – gone are the days when one take out time and visit a bank branch to just obtain their account statement. Mobile applications have become a savior by making account statements available on our mobile phones within a few seconds.
  • Branch Or ATM locator– Whenever you require to visit your nearest bank branch or need a visit to the ATM for cash withdrawal, using your mobile banking application, you can instantly locate the nearest ATM or bank branch without any hassle.
  • Transferring funds – fund transfers have never been this quick and easy. All the credit goes to the mobile banking applications that have come up with intra-bank and interbank transfers in the most efficient ways possible.
  • Managing multiple bank accounts – one of the best features a mobile banking app provides is various account management. You can always apply for credit card and access multiple accounts through a single mobile banking app. This feature avoids the hassle of keeping different banking apps for other bank accounts.
  • Pay for anyone– You can pay for anyone from anywhere by simply using the UPI ID or the QR scanner of the merchant. You can even instantly transfer funds to your friends and help them in need. Moreover, you can also track the mobile recharge plans of your family and recharge for them in advance.

The list continues, as there are several other features you get through a mobile banking application such as tracking your spending and saving, linking your debit and credit cards with the banking application, receiving timely reminders for your pending payments, and much more.

However, there are still many people who do not own a smartphone but still want to avail a few of the banking services. This is the reason why several banks offer sms mobile banking, which can be accessed even through a basic phone. All the customer needs to do is link their mobile number with their bank account to avail the services. They can acknowledge their bank account info by sending an SMS to the bank in a certain format.

read more

Life after Andrew Tate – What we learn and where do we go from here?

Life after Andrew Tate

Andrew Tate exploded into mainstream consciousness earlier this year through his toxic brand of homophobia, misogyny, and racism. Many were disturbed not only by the extreme views Tate was espousing but also by how he gained such a large following of young men so quickly. He reopened the discussion on online misogyny and extremism. But despite being banned from major platforms, Andrew Tate still casts a long shadow. What’s next? Why did someone like Tate gain traction?

While Tate’s meteoric rise was alarming, it was also sadly not unique. Young men are being targeted by toxic masculinity and extremist content on the internet. Several factors enable figures like Tate gain followers quickly and spread their messaging. Social media algorithms often reward shocking, emotionally charged content that gets high engagement. People are also more likely to be radicalized when exposed to extremist ideologies within their online communities. Economic instability and lack of meaningful work or purpose leave some young men feeling disenfranchised and vulnerable to radicalization. Misogynists exploit this to blame women and minorities for their audience’s dissatisfaction with life. Many young people lack the skills to critically assess the deluge of content they encounter online. Recognizing extremism and misinformation is not intuitive; it must be learned. School students must identify toxic messaging, check sources, and assess credibility. Online manipulators use emotional appeals. Parents and mentors have a responsibility here too. Educate critically and protect yourself online. Talking about stereotypes and gender roles is also helpful.

Platforms’ responsibilities were also raised in Andrew Tate’s case. Social networks have long taken a hands-off approach to extremist content, intervening only when serious real-world harm has occurred. But allowing unlimited circulation of misogyny, racism, and misinformation also does real damage. Platforms must be more proactive in setting standards for what is allowed and enforcing those rules consistently. Moderation should be centralized, automated approaches avoided, and transparency increased. Advertisers also pressure platforms by halting ads when sites aren’t adequately curbing extremism. Governments need to intervene as well if self-regulation continues to fail. Keeping users safe while limiting censorship concerns is crucial. It’s time to offer alternatives to people like Andrew Tate. Simply removing extremist content doesn’t address why it appealed in the first place. Young men need relationships, empathy, and purpose.  Men can break free of misogyny by belonging and enjoying themselves. Positive messages can counterbalance hateful messages. The mental health of at-risk men is also beneficial. If you want more info, check out here review.

For too long, casual sexism and boys-will-be-boys mentalities have been accepted. Not directly challenging coworkers’ sexist remarks, confronting rape jokes, and accepting gender stereotypes in media all enable bigger problems like Andrew Tate to emerge. Victim blaming, male entitlement, and anti-women rhetoric must be condemned at all times. Men are not being shamed here, just made aware of how normalized misogyny harms everyone. Men should also address other men’s toxic behaviors and attitudes. Progress will be slow, but social norms shift over time with consistent effort.

read more

Ways To Begin Your Investment Journey In The Stock Market

Ways To Begin Your Investment Journey In The Stock Market

The stock market investment journey may seem tricky at first glance, particularly for those new to the investing world. The investment process has become quite hassle-free in today’s times since people can now allocate their money to shares via several virtual platforms.

If you are not up-to-date on the investment procedure, here is a guide on how you can successfully commence investing in the share market online.

NSE India and BSE India are two stock exchanges wherein you can spend. Stated hereunder are the steps you need to take to purchase shares right from the comfort of your home.

  • Open a Demat account and ensure it is linked to your existing bank account for smoothly facilitating transactions.
  • Sign in to your Demat account through the web or mobile-enabled application.
  • Select a stock in which you wish to invest in.
  • Ensure you have adequate money in your bank account to purchase the stocks you wish to buy.
  • Buy the share at its current market price and mention the number of units.
  • After a seller reciprocates the request, your buy order will be executed. After the completion of the transaction, your bank account will get debited with the respective amount. Also, the shares will get reflected in your Demat account.

It is important to note that certain prerequisites must be considered while opening a Demat account.

  • Bank Account
  • Address Proof
  • Identity Proof
  • PAN Card
  • A Reliable Stockbroker
  • Canceled Cheque

Important factors to note before beginning a stock market investment

  • Investment Goals:

If you are wondering how to commence investing in the stock market, it is vital to first know about your financial objectives, which are not universal and vary from investor to investor. Also, it would be great if you determined your investment horizon before investing.

  • Risk Appetite:

This is another main factor to consider while investing in stocks. Investors with a low-risk capacity might invest in defensive shares, which come with stable returns and are less impacted by market fluctuations and volatility.

  • Diversification:

By developing a well-diversified portfolio, you can mitigate risks. In simple terms, the greater your investment spreads through various sectors, the lesser the financial risk of your investments will be.

Hence, when it is about investing in stocks, there are two markets that you can take note of – Primary Market and Secondary Market.

A primary market is a place wherein shares and securities are created, whereas the secondary market refers to a place wherein shares and securities get traded by investors. In the primary market, companies sell new bonds and shares to the general public for the very first time, for instance, through an Initial Public Offering (IPO).

The securities and stocks that trade subsequently, having their prices listed on the exchange, become a part of the secondary market.

The investment process has become immensely easy, and knowing about your investment horizon and financial objectives is vital before investing in the share market.

Getting equipped with advanced resources, expert suggestions, and thorough real-time share assessment information at your fingertips, especially as a beginner in the share market, is a huge contributing aspect to minimizing risk and maximizing returns. So, open a Demat and trading account with a safe, secure, and convenient stock broker and start now.

read more

The Benefits Of Business Credit Cards For Indian Businesses

Business Credit Cards

For many entrepreneurs and startups in India, access to capital is crucial to their success. A business credit card is one tool that can help these businesses manage their cash flow and expenses. Business credit cards offer a range of benefits that can help Indian startups and entrepreneurs grow and thrive. Let’s take a deep dive into the key advantages of using a business credit card:

Separation of Business and Personal Finances

One of the biggest benefits of a business credit card is that it allows entrepreneurs to separate their personal and business finances. By using a dedicated credit card and a trustworthy rent payment app, entrepreneurs can more easily track and manage their spending. It can be particularly helpful during tax season, making it easier to calculate and deduct business expenses from taxable income.

And as you seek to explore “how to become a credit card processor” remember to delve into the intricacies of payment networks, data security protocols, and industry compliance. Acquire the necessary licenses, foster collaborations with businesses, and grasp evolving market trends to carve your niche in the realm of credit card processing.

Increased Cash Flow

A business credit card can also help entrepreneurs manage their cash flow. With a credit card and a user-friendly mobile payment app, businesses can make purchases and pay bills even if they need more cash. It can be particularly helpful for startups and small businesses that may not have a large cash reserve.

Rewards and Incentives

Many business credit cards come with rewards programs that can help entrepreneurs save money on purchases made. The credit card rewards are in the form of cashback, points, or miles and can be used to offset the cost of future purchases. Some business credit cards also offer incentives for spending in certain categories, such as office supplies or travel.

Build a Credit History

Using a business credit card with gst chalan can help entrepreneurs build their credit history. By making regular payments on time and keeping their credit utilization low, entrepreneurs can demonstrate their creditworthiness to lenders and potentially access larger lines of credit in the future.

Access to Financing

Some business credit cards also offer access to financing options, such as a line of credit or a cash advance. It can be particularly helpful for businesses that need to make a large purchase or have a short-term cash flow issue.

Fraud Protection

A business credit card can also protect against fraud and unauthorized charges. Many credit card issuers offer zero liability protection for fraudulent charges, and some also offer fraud monitoring and alerts to help businesses detect and prevent fraud.

Improved Record Keeping

Finally, using a business credit card can help entrepreneurs keep better records of their expenses. Most credit card issuers provide detailed statements (such as the amount you are paying at fastag that can be easily downloaded and reconciled with accounting software, and it can save time and help ensure accurate financial reporting.

In conclusion, a business credit card can benefit Indian startups and entrepreneurs. From separating personal and business finances to building credit history and accessing financing, a business credit card can be a valuable tool for managing expenses and growing a business. However, using credit cards responsibly and paying off balances in full each month is important to avoid interest charges and potential debt issues. With the right approach, a business credit card can be a powerful tool for success in the Indian business landscape.

read more

Choosing the Best eCommerce SEO Firm for Your Business


The top eCommerce SEO company will cater to your specific business requirements. Every client has a certain audience in mind, and Bear Fox Marketing professionals will lead you in the appropriate route. We want the best for our clients and their businesses! eCommerce SEO plays a crucial part in marketing, and it is critical to grasp the benefits it may give to your company. Our experts are passionate about pushing strategy and what works for you! Marketing is all about maximizing your return on investment by utilizing various SEO services. We specialize in many other parts of marketing as an eCommerce SEO business and can guide you through many additional marketing techniques. You only need to ask!

Your business will be seen in a new light, with Bear Fox Marketing teaching you the ins and outs of marketing. Building your brand and showing up for your consumers takes time. Nevertheless, with the aid of an expert, you will notice a change! You get out of it what you put into it, just like many other aspects of a business. eCommerce SEO aids in the development of more traffic to your site, and the SEO our team creates for your company will promote your website over time. We can look at the specifics of how our team at Bear Fox Marketing may increase your company’s income in the future!

How an eCommerce SEO Firm Can Aid in the Promotion of Your Business

Developing an eCommerce SEO firm plan is critical for aligning your success with the goals you’ve established for your organization. We make recommendations based on your company’s needs. There is no fixed checklist because everyone has distinct interests and needs. When you cooperate with us, we wish for the most popular outcomes!

As a new business or marketer, you want to ensure that your website is visible on all search engines! Most internet consumers begin with Google or Bing, which directs them to other websites. This implies that your company’s rankings should point to Google or another search engine that can help market your items. The amount of clicks on your website matters, and Bear Fox Marketing is here to assist you in understanding why e-commerce SEO is so vital to your business.

Remember These SEO eCommerce Tips

Optimize your product pages to include relevant keywords. This is one of the most important things you can do to increase traffic to your website’s pages. Once you’ve done some research to locate keywords that are relevant to your items, sprinkle them across the website to capture more attention. Optimization is utilized throughout the marketing process, and SEO is a significant element of marketing since it determines where traffic originates from and where it goes on your website.

It is critical for your website to have high-quality photographs and videos. You want to include detailed text and make sure that high-resolution pictures are used. It is critical to use images that are related to your products. It’s wonderful that you have grandchildren and dogs. They do not, however, fit into your company plan. Maintain a professional and tidy appearance. You want customers to understand what you’re offering. It is also vital to include some videos on your website, but only a few.

In today’s marketing landscape, a mobile-friendly website is essential. To do this, you must guarantee that your website can be accessed on a variety of devices and that the pages load rapidly. A user-friendly website is vital since it allows people to spend more time on your website. Customers would likely click away from your website if it is not user-friendly. It is something you do not want to happen.

Link building is essential for keeping your eCommerce website up to date with SEO. It is critical to link to other high-quality websites in order to maintain your website’s high position. Link building is utilized to guarantee that your website receives the attention it deserves from other businesses and potential clients! There are several ways to accomplish this, beginning with guest posting, social networking, and others that Bear Fox Marketing pros can teach you about.

eCommerce SEO is undoubtedly a difficult topic to grasp. Yet, with these pointers in mind, it should be simpler to get your company back on track. The majority of these are employed in our marketing plans to keep businesses at the top of their rankings and up to date on the latest SEO trends. Marketing is one of the most effective ways to advertise your company in a favorable way! Partnering with specialists allows your company to develop and adapt in ways that you would not have been able to do on your own.

Why Should You Choose Bear Fox Marketing as Your eCommerce SEO Company?

We apply our expertise to help your company flourish. Bear Fox Marketing will walk you through the stages of SEO and how the many paths might help your organization. We spend time researching what will work best for your items and how to advertise your company. Every sector is distinct, and it takes time for marketing to grow. Our staff understands how to address marketing needs and convey the significance of eCommerce SEO to help your complete marketing plan. SEO has several advantages, and it may improve the relevancy of your website, client turnout, and overall rating of your website on search engines where buyers find your business first!

Our commitment to our consumers gives us confidence that what we do works. You should have confidence that when you want an eCommerce SEO Company, Bear Fox Marketing has a staff ready to assist you in any way we can! It would help if you understood the significance of marketing and how it may help your company evolve and flourish. Integrating marketing into your firm is a lengthy process. But once it does, and you see visitors visiting your website and purchasing your stuff, you will know that marketing is working! A marketing plan involves a great deal of information. Click here to learn more about Bear Fox Marketing and how we can assist you! Start immediately by contacting us to begin your marketing adventure!

read more

How To Use Online Banking Apps For P2P Money Transfers?


Online banking apps have made it easier to transfer money quickly and securely. One of the most popular features of these apps is the ability to make peer-to-peer (P2P) money transfers, which allow users to send money directly to other individuals without needing a bank account or other intermediary. This article will discuss steps of how to set up and use online banking apps for P2P money transfers.

Step 1: Download the payment app

The first step in using an online banking app for P2P money transfers is downloading the app. Most major payment bank and financial institutions have an online banking app that you can download for free from the App Store or Google Play. Before downloading the app, check the reviews and ratings to ensure that it is reputable and has a good track record.

Step 2: Create an Account

Once you have downloaded the app, you must create an account. This typically involves providing your personal information, such as your name, address, bank account or debit card information. You may also need to verify your identity by taking a photo of your ID or answering few security questions.

Step 3: Add a Contact

After you have set up your account, you will need to add an contact to send money to. You can search for the person’s name, email, or phone number. Once you have found the person, you can add them to your contact list by tapping on the “Add” button.

Step 4: Send Money

To send money to a contact, tap on the contact’s name and enter the amount you want to send. You will then be prompted to confirm the payments, after which the app will transfer the money immediately.

Step 5: Confirm the Transfer

After you have sent the money, you will receive a notification confirming the money transfer. You can also view the transfer details, such as the date and time, by going to the “History” section of the app.

Security Measures

It is important to note that online banking apps use advanced security measures to protect your money during transfers. These measures may include encryption, two-factor authentication, and biometric logins, such as fingerprint or facial recognition. Additionally, most online banking apps also have fraud detection systems to prevent unauthorized transactions.

Additional Features

Many online banking apps also have additional features that make P2P money transfers even more convenient. For example, some apps allow you to schedule recurring transfers, set up alerts for low balances, or even deposit checks remotely.

Online banking apps have made it easier than ever to make P2P money transfers. Following the steps outlined above, you can set up and use an online banking app to send money to friends, family, or anyone else you need to pay. Additionally, online banking apps use advanced security measures to protect your money during transfers, which adds an extra layer of security to your transactions. Always be cautious of suspicious activities and report any such activities to the bank and authorities to avoid fraud. With online banking apps, you can enjoy the convenience of quick and easy money transfers at the tip of your fingers.

read more

5 Tips For Managing Your Monthly Bills Effectively

How-To-Make-A-Budget (1)

Do you need help paying your bills on time each month? Get control of your finances for various reasons, including reducing stress and worry, repairing your credit, and avoiding overdraft fees. We’re here to tell you why and how you should pay attention to your bills. In this post, we outline 5 practical measures you can do right away to manage your accounts.

  • Alter your monthly spending plan

Your monthly expenses are frequently the same. Even though you were charged a late fee, there are situations when a new bill may still get through online payment. Additionally, even your routine bills might change from month to month. As a result, you must change your budget with each new month. By doing this, you can be certain that the appropriate corrections will be made and your bank account won’t be overdrawn. Your power bill, which can change from month to month and season to season, is an excellent illustration of this in action. Your budget should thus account for these extra fees.

You may make the necessary modifications to guarantee that you pay your energy bill on time by keeping track of your monthly budget. You’ll discover that you can more easily plan and be ready for the upcoming months if you become adaptable and make changes. Even if you have to make occasional cuts or purchase off-brand goods, you’ll at least know that your required payments will be paid. You won’t need to worry about adding on a late charge.

  • Pay bills immediately.

Do you frequently wait until the day before a bill’s due date to pay it? Though you’re not alone, this isn’t the wisest action. It’s frequently a good idea to pay the account off immediately if you have the money to cover it and no credit card installments are due like for Union Bank Credit Card.

You are far less likely to incur late fees if you practice paying your payments as soon as they are due. You’ll feel less pressured and have fewer shocks if you handle your financial flow this way. These two reasons alone make the adjustment worthwhile. Be sure to monitor your electronic payments carefully. When the money could have been used for something more urgent, you want to pay only once.

  • Make use of a money management app.

You’ll discover that using a personal financial app makes it simpler to monitor cash flow, pay bills, track credit cards and credit card payments, and much more.

  • Make use of Expense Tracking Apps.

You may help yourself keep track of your costs by using simple expense tracker applications. Make sure to read app store reviews before using several free spending tracker apps to see what other customers have to say.

  • Create a list

We advise creating a checklist with the anticipated bills for each month. You’ll have a comparison to identify the problem if anything arrives that needs to be added to your list or if you see a charge on your bank account that shouldn’t be there. If you’ve multiple credit card specifically like HDFC credit card app. Undoubtedly, it adds a step and a new responsibility. But if and when a mistake occurs, you’ll be happy you have it available.

If you’re comfortable using spreadsheets, you can quickly put a piece of paper together on your computer. To keep it accurate and current, update it once a month. You’ll be far more likely to spot billing issues if you do this.

Bottom Line

Make it simple for yourself to remember to pay your bills! Financial management doesn’t have to be difficult, and you can use these pointers to make managing your bills and payments simple.


read more

Bit by bit guidelines to TRADE ONLINE


To start trading online, one necessity to find a web-based share go-between who expects the piece of a genuine proposition subject matter expert. The electronic offer lender firm should be a reliable one, and the vendor needs to guarantee it. He should consider the available Yes bank share price subject matter experts and differentiation them by agreeing with their features and the organizations they give.

However, the primary norm to pick an electronic offer specialist should be the lender charges being forced on the shipper. The trader should bring the choice to the table for quality sorts of help at the low agent, which wouldn’t eat up his advantages. An online offer business firm gives the web trading programming to the sellers and they essentially have to connect with the web to get to the item and start trading! The primary thing a merchant ought to start trading on the web is a demat account. A demat account holds his securities in a dematerialized or electronic design. This wipes out the need and risks of the real proposition confirmations, and besides makes the trading framework considerably more invaluable and secure.

A demat record can be opened with any bank or a money-related affiliation. The demat record ought to be associated with his venture account from any bank and his web trading account. These days, banks are proposing to give all of the three workplaces to a monetary sponsor. Besides a speculation account, the SEBI requires a PAN card and affirmations of character and home as essentials for opening a demat record or trading account. Online proposition experts give web trading programming which should be straightforward and give the seller speedy and strong market invigorates.

A couple of huge features to really focus on in electronic trading writing computer programs are live deal cost revives, market news, factual reviewing reports, different stock exchange revives, etc. The item should basically give every one of the principal information anticipated by the seller. An electronic offer delegate should in like manner has the choice to give trading office on phone occurrence of web disillusionment. Cautioning organizations and trading tips would make the item significantly more appealing to the trader. There are various electronic offer specialists in India for the monetary supporters to peruse. Some of them are ICICIDirect, HDFCSecurities, UniconDirect, Upstox, etc. Countless the proposition go-betweens have a free demo of their programming projects on their locales too. This helps the seller in finding the most fitting electronic offer by speeding up trading in the Indian deal market.

read more

Things to Learn Before Trading in Forex


There are many psychological hurdles when it comes to trading forex or other asset class. The lack of patience is one of the main reasons for ruining a trade. And this is because a lot of retail traders will try to force the issue and get swayed by emotions.

However, no matter how a trader carefully planned its trade, the market can and will do anything they want. So, this is the reason why backtesting trading systems and understanding their perspective merits and weaknesses will become one of the main tasks of a trader.

Back Testing

In backtesting a system, traders must place theoretical trades in market conditions that will stimulate the returns expected as probable. Traders could do this with various trading platforms and the like, or just look at a chart of historical action and simulate the trades would have been through for several months, if not, years.

As traders back test the system, they will see the expected returns might be in the future. But a lot of people do not work their way through this; therefore, they typically tend to ‘system shopping’ – meaning they take a loss or two with a specific trading plan, and then they go to the next system.

For instance, over the long term, a system tends to be successful by 60% of traits taken and returns 35% annually. With that, they need to understand that the system also loses 40% of the time. In 40%, there is a chance to have three losses in a row. So, if there is no faith in the system, this is where they must look for the next best thing.

This kind of cycle is where most traders fall into, meaning they may have come across a system that works in the long term, but they did not give it a fair chance. And this is where psychological wherewithal and knowing the system enters.

Let’s say; there are times where a specific system might not work out well. And this is because the system would do much better in a trending environment than a consolidating one, and traders must know this ahead of time.

This is how a trader should be, continually watching the system and the possibilities of enhancing them. Thus, traders could use a demo account first because it is too costly to risk trading in a live account on a feeling or some new methodology that a trader is dabbling in.

Speed Up

Not looking at what’s obvious in other professions is probably one of the greatest mistakes new traders make. For instance, Twitter has so many users that are experienced traders. They could offer some insights into how the markets are moving. When it comes to learning forex markets, there is no valid excuse not to because the amount of market information available for free out there is extraordinary.

Even though most people want to hurry and start gaining money, there are no shortcuts other than learning from people who have been there. The odd thing about traders is that they expect to step into the forex markets and clean up immediately.

By that, it is like expecting to be a great physician by just showing up to the hospital. It needs a significant amount of training and experience to be a world-class trader. Thus, you can’t simply fall into it.

But unlike trying to get medical practice going, you do not need to have an education aside from being self-taught. With that, it makes trading one of the best businesses you can enter as long as you treat it like a business.

Successful people in this industry will always tell you to go to where people have already succeeded. As there are no shortcuts, taking a mentor or learning from a professional can help prevent some of the problems existing out these.

read more

Why Hard Money Lending Is Not Predatory Lending

Wide angle of group business people in bright spacious modern of

Hard money lending gets a bad rap among people who either do not understand it or just don’t like it. Critics sometimes make misleading claims, such as equating hard money lending with predatory lending. That is truly unfortunate. Hard money is a private lending option that works very well for certain kinds of borrowers. It is by no means predatory in nature.

Distinguishing between hard money and predatory lending starts with an explanation of the latter. Here is what the Investopedia website says about predatory lending, in part:

“Predatory lending includes any unscrupulous practices carried out by lenders to entice, induce, mislead, and assist borrowers toward taking out loans they are unable to pay back reasonably or must pay back at a cost that is extremely above the market rate. Predatory lenders take advantage of borrowers’ circumstances or lack of knowledge.”

Unscrupulous Practices

Going through the Investopedia statement point-by-point should adequately demonstrate why hard money lenders are not predators. The first point relates to unscrupulous practices. Most of the disagreement that surrounds hard money lending has to do with rates and terms. There is nothing unscrupulous about a higher interest rate and shorter terms when they are compared against the risk hard money lenders take.

Hard money lenders do not offer auto loans. They do not tend to get into the residential mortgage market. Most hard money lenders write loans for very risky projects – like real estate development, for example. The higher the risk, the more lenders have to protect themselves via rates and terms.

Entice, Induce, Mislead

The next point is that predatory lenders use a variety of strategies to entice borrowers to take out loans they either cannot afford or that will cost them too much in the long run. Many of these practices are misleading. No disagreement there. However, hard money lenders do not typically operate this way.

Hard money loans are straightforward and simple. Lending terms are easy to understand. And because hard money lenders typically work with experienced investors, business owners, and executive management teams, they are dealing with people who are not easily fooled or enticed.

Taking Advantage of Circumstances

It is often said that hard money is last resort financing that takes advantage of a borrower’s negative circumstances. The implication is that people only go to hard money lenders after banks turn them down. That is true in a minority of cases, but the majority of hard money borrowers choose to go that route because hard money is more advantageous to them.

Take a real estate investor looking to acquire a retail complex. In a hot market, there may be three or four others looking at the same property. The investor could get bank financing, but it would take months to arrange. He doesn’t have that kind of time. Instead, he applies for a hard money loan that he knows he can get in about 48 hours.

Actium Partners, a hard money lending firm based in Salt Lake City, UT, says speed is one of the big advantages of hard money. Actium has been known to fund loans in as little as 24 hours. That is a big advantage in a competitive market where the party who arranges financing the quickest is often the winner.

There is no arguing that hard money is not conventional financing. It is quite unconventional. Unfortunately, its unconventional nature leads to misunderstanding. Misunderstanding leads to fear. They both lead to so much misinformation that encourages people to stay away from hard money. That’s too bad as hard money is sometimes the best option. Avoiding it out of fear or ignorance is throwing away an excellent financial resource.

read more
1 2 3 5
Page 1 of 5