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September 18, 2019, 8:10 am

What Are the Basic Requirement for Obtaining Loans in Ontario?

by: The Financial Blogger    Category: Personal Finance,Uncategorized

Many people are surprised at how many options for financing are available today. This is especially true for people who don’t have much in the way of established credit or are currently rebuilding damaged credit scores after experiencing some sort of financial reversal. What does it take to obtain personal loans in Canada or other types of loans? While there is some variance between lenders, the following qualifications are often applicable.

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You Must Be of Legal Age

Typically, no individual who is under the age of 18 is able to obtain financing without the help of a co-signer. A parent or other relative who is willing to sign the loan with you will work if you are underage and want to finance something like the purchase of a vehicle. Your co-signer would be responsible for repaying the loan if you were to default.

Keep in mind that not all lenders will extend financing to those under the age of 18 even if someone is willing to co-sign the loan. Before submitting an application, it never hurts to ask about the lender’s policy on this point.

Residents of Canada Only

People who are residents of other nations are usually not eligible to receive financing. You will need to confirm that you are in fact living in the country before your application will be considered. There are some lenders who offer what’s referred to as “New to Canada” financing. This type of lending arrangement is targeted toward those who are seeking to become permanent residents rather than those who are temporarily living in Canada for business or other purposes.

If you’re not sure that a lender would consider you to be a resident, outline your circumstances, including if you are seeking citizenship or plan on remaining in the country with the proper documentation for several years. The lender will determine if you could be eligible based on those factors.

You Must Have a Verifiable Bank Account

It’s essential that you have a bank account that the lender can check and determine that it’s active and in good standing. This is important for two reasons. First, the funds from an approved loan may be deposited directly into that account. Second, even if the funding goes directly to an automobile dealer or some other type of creditor, the lender wants to know that you have a bank account that will be used to remit installment payments on the loan balance.

Different lenders will require various types of information in order to confirm your active bank account. Some may be happy with a copy of your most recent bank statement. Others will collect basic information about the account and then contact the institution directly. Once the bank confirms that you do have an active account, you meet this qualification.

Proof of Your Identity

Be prepared to provide documentation that confirms your identity. This may be in the form of a driver’s licence, some type of government-issued identification that includes your image, or even a picture ID confirming you are currently a student at one of the universities in Canada. There are some lenders who would accept an employee-related picture ID, provided there is other data that helps to ensure you are the person that you claim to be.

Verifiable Sources of Income

Many people assume that the only source of income that lenders will consider is from a job. In fact, it’s not unusual for lenders to consider multiple sources of income other than wages and salaries. When you approach lenders about the qualifications for Ontario loans, ask for examples of what income sources they accept.

What are some of the more common income sources that lenders accept? Along with income from a job, money from pension funds, federal and provincial benefit programs like the Working Income Supplement or Compassionate Care Benefits, and monthly disbursements from trust funds are likely to be accepted.

One key to using various sources of income to meet the lender’s qualifications is making sure those funds are direct deposited into the bank account that you’ve provided. Proof of direct deposit, along with the amount of the monthly benefit or income, will often be what you need to give the lender a reasonable sense of security that there is money to help you make those installment payments.

Documentation to Confirm Your Permanent Residence

One final requirement that most lenders need is confirmation of your permanent address. This can be in the form of a utility bill, credit card statement, or some type of tax form. If your living arrangement comes with utilities included in the rent, a letter from your landlord confirming that you do in fact live at the address provided will often suffice.

Keep in mind that some lenders may or may not place emphasis on your current credit scores. Some lenders are willing to work with people who have experienced credit issues in the past and are currently working to regain their good credit ratings. If the first lender you try does not work out, don’t hesitate to try a different one. Your efforts have a good chance of paying off in terms of getting the money you need and adding a positive reference to your credit reports.

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August 14, 2019, 8:55 am

More Value for Your Money: Finding Your Ideal Office Space

by: The Financial Blogger    Category: Uncategorized

To fulfil its maximum potential and the success you’ve no doubt been thinking about for a long time, your business needs the right environment. Just as a tree can’t grow in a plant pot, your enterprise can’t grow without the right office environment.

You may be working from home, leasing a small office which you’ve outgrown or even looking for premises to buy, but your dilemma will be the same. How do you find the ideal office space while still getting value for your money? There are plenty of options out there to choose from, but not all will be suited to your budget and business model.

Co-working Spaces

Co-working spaces offer the most flexible offices for start-ups, small teams and freelancers to work in a more professional environment than their spare room or the local coffee shop. Depending on the co-working space you choose, you may be able to rent a desk in a co-working space on a pay-as-you-go basis (known as ‘hotdesking’) or can pay for a certain number of days per month depending on your budget.

For people who work alone a lot, these spaces can also offer great opportunities for networking and brainstorming with likeminded professionals. From coworking space London, to towns and cities across the UK, you will be able to find a co-working solution to suit you.

Sub-let Office Spaces

For businesses looking for their own separate premises but which aren’t prepared to commit to a lengthy lease, a sub-letting arrangement may appeal. If you can find a business which is already leasing premises but has office space to spare you may be able to take on a lease for a shorter period of up to a year. You need to be sure that the business you’re leasing from has permission from the landlord to do this.

Lease Your Own Office Space

If your business is unlikely to expand in the foreseeable future and you have the financial stability, you could take out a lease on your own premises. This is an important decision, so make sure you’ve considered all the pros and cons of leasing before committing to a long-term lease of 5 years or more.

Make Sure You’re Getting Value for Your Money

Before you commit to an office space, you need to ensure that you’ve asked all the important questions about the facilities and the surrounding area. If you don’t ask now, you could find yourself paying for office space which is incompatible with your operation.

  • Are there any issues such as broken lifts, heating and air conditioning or other problems you should be aware of?
  • Is the location easy to access and are there amenities nearby?
  • Are there parking facilities onsite or nearby for employees and visitors?
  • Does the building give off a professional image from the outside?
  • Will your employees and clients be able to comfortably use the space and does it offer enough recreational space or flexibility?
  • Are there any extra fees or hidden costs you’ll have to pay such as utilities, building maintenance, parking or refuse removal?
  • Will you be happy to go to work there every day, and proud to show the premises to employees, suppliers and clients?

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July 26, 2019, 8:35 am

Benefits of Using Pallet Racking for Businesses?

by: The Financial Blogger    Category: Uncategorized


Pallet Racking is a collection of racking components placed in a fairly simplistic way. It doesn’t include any complicated storage systems. They are just adjustable racks placed in a specifically customized manner to suit the businesses’ storage requirements. These racks are accessible from either side by a forklift or a pallet stacker. Pallet racking is not new; it’s been around for many years now. Most warehouse storages that still do not use pallet racking store their products horizontally for easy access as a result of this the storage buildings have to be expanded outwards to accommodate more materials, and this sky rockets the costs and accounts for inefficient use of space. This is why most businesses today, big or small irrespective, use pallet racking system for storage of their goods. Many a times, people argue that in case of small businesses is this system really required? The simple answer to that is yes, most definitely. It is much more important in case of a small business as this one aspect that provides a small business the competitive edge that it is looking for to lower its costs and thus price its product more efficiently. Because at the end of the day consumers always go for products that are cheaper in price. You can find pallet racking in Walsall on WSSL site. Some of the advantages of using this system are:

Efficient Use of Space

It goes without saying that by using a pallet racking system your storage space can be fully utilized. By stacking items on racks that reach to the ceiling, you can use your upward space more efficiently.

Fewer Errors in Stock Checking

With this system, performing stock checks becomes easy peasy. Inventories can be done in lesser time and the data you collect is often more accurate as a result of everything placed in a more organized manner the chances of errors are negligible.

Improves Goods-In and Goods-Out Deliveries

With the pallet racking system, jobs get done much quicker. Goods-in and goods-out can be processed and stored in a single operation without the need to unpack everything and repeated to-s and fro-s. This saves time and prevents choking points in your system.

The pallet racks are just a one-time cost that the business has to incur and that too isn’t very high but the benefits of it can be reaped for years to come. Therefore, going for a pallet racking system for the storage of your products is a smart idea and the advantages of it far outweigh the one-time cost.

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June 24, 2019, 7:48 am

Your Guide to Financing Your Business by Yourself

by: The Financial Blogger    Category: Uncategorized

If you have ever considered setting up your own company, there may have been one element that will have been standing in your way: money. Not only does it cost quite a bit to get your organization off the ground, but it can be difficult to find investors.

Furthermore, many people would prefer not to have other people, especially strangers, involved in their company. After all, the more individuals included in the ownership, the fewer profits that you reap. There is also the fact that you have less control over your own organization.

Well, the good news for you is that there are ways to finance your company yourself. Here are the top options for doing so:

Do an Inventory of Your Assets

The first thing that you should do is to consider all of the things that you own outright. This includes vehicles, real estate, art, jewelry, and more. Remember, a number of your belongings have quite a bit of value. So, should you sell them, you just may end up being able to get the money that you need.

In order to do this, you should divvy up your belongings and assets. Figure out which assets you simply can’t do without. These are the things that are essential to your daily lifestyle. Then, consider the non-essential assets – which ones can you part with. Even if you can’t cover the total cost by selling your belongings, you should be able to make a sizable dent.

Set Aside Funds from Your Earnings

Just because you have a great idea for a company doesn’t mean that you should quit your job just yet. Instead, you may want to hang on for a little longer. Then, it is a matter of putting aside a portion of your earnings each month. If you do this consistently enough, you will be surprised by just how much you can end up saving.

Another reason that you shouldn’t leave your place of employment is the continued option for payday loans. If you are unable to accumulate all of the funds that you need, you can get a payday loan in Canada to cover immediate expenses for your business. You can then settle this amount when you receive your salary again.

Take Out a Loan

All though you may be coming up with the money for your company by yourself doesn’t mean that you can’t take out a loan. However, rather than going to a bank, you should opt for a lender that is more friendly to entrepreneurs. For instance, Lendified is one such operation, with the financiers’ specifically back small businesses.

The process with these lenders is a lot simpler and you don’t have to wait as long for approval either. What’s more, you should be able to find a deal that is perfectly suited to your financial situation and business plan. Now, this option will ensure that you are able to get your money much more quickly, allowing you to start your company up even sooner.

These are the top guidelines about self-financing that you need to learn about. With this advice, you should find your goal a lot easier to reach.

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June 11, 2019, 1:55 pm

Where to Get Freebies for Online Games

by: The Financial Blogger    Category: Uncategorized

Freebies are the secret to making anything we already enjoy even sweeter and online games are no exception to that rule. Online games are already a huge amount of fun. They let us work together with our friends and other players to solve challenges, we can also make new friends and we get to go on massive, entertaining adventures. Many also feature competitive multiplayer where you can compete to be the best player around.

Many games have exclusive rewards or cosmetic unlocks that you have to pay money for, but if you know what you’re doing, you can get a decent amount of benefits for free. Here are our tips.

Check out new promotions

Before you spend any money on an online game, whether that be at an online casino on your computer or on a console multiplayer game, you’ll want to check out the new promotions. To entice new players, many games offer sign up and welcome bonuses that give you extra money to play with or free spins.

Many of the best online casinos run promotions like these, giving you freebies so that you check out their sites. At Spin Casino, they will double your first deposit up to $400 in a three-part welcome package that’s worth $1,000. Zodiac Casino will give you 60 free spins just for depositing one Canadian dollar and 888 Casino will give you 30 free spins just signing up. While offers vary, you’re bound to find a deal that suits your gaming style if you look around.

Complete challenges and objectives

There is a giant amount of competition in the online gaming space and game developers have had to come up with new ways to keep players around. One of these ways is to offer daily challenges and objectives. These help you to discover new parts of the game, new reasons to love it and new ways to have fun.

Many games, such as Epic Games’ Fortnite, also give you free currency for completing these challenges. Certain Fortnite challenges will cost you V-Bucks to unlock, but if you complete all of the challenges you will get back more V-Bucks than you put in. You can use the difference to buy your next battle pass or to spend on premium cosmetics.

Refer Your Friends

If you’re a popular person with a large friend group then online games are the best way to show it. Online multiplayer games are better enjoyed with your friends and so many developers run friend referral programs to encourage you to get other people to sign up. They get a bigger player base and you have an awesome squad, ready to head out on adventures with you.

Some friend referral programs come with freebies. The World of Warcraft system gives you a free month of game time, bonus XP, a free pet or mount and more. The Destiny 2 friend referral program got players a special ship, Sparrow vehicle, and emblem.

Whether you play freemiums or your online games cost money to play from the start, there are freebies to be had. You can be financially smart when you’re having fun.

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