Installments loan definition

 

Installments loan are loans that you are required to make regular repayments over a defined period of time. The objective of your borrowing is to get cash now and spread out the payment over a period of time.

Getting ready for installment loans

 

installment loans
Getting ready for installment loans
  • First, you have to be positive about the whole endeavor. You can do this by checking out your finances. Calculate the exact amount you need. Also, remember to check your credit score.
  • It is important to know where you stand financially. This is because lenders will be looking at your profile before they offer you an installment loan. You can check your annual credit report and see your current status. Make a list of your regular monthly expenses and fit it to your income. With this, you will be able to know the amount you will be comfortable paying in installments.
  • Check out the terms and conditions of your lender. You should focus on the time and interest factors. Expect slightly high interest than usual. The interest rate is just a strategy allowing lenders to give you a high-risk loan.
  • It is crucial to find out the different features of lenders. With us, you will find lenders who offer specific interest-only period on large loans. This is aimed at making repayment flexible for you. You will have a chance to acquire an installment loan and pay back small interests for a longer period of time.
  • Lenders you will find in our network have quick support systems that ensure that your queries are responded to quickly. You will be dealing with a lender directly. Lenders are looking forward to having a good business relationship with you.
  • We offer you an opportunity to take advantage of the several lenders who are willing to offer you an installment loan even with your bad credit score. When you compare this option to a traditional lender, you will find it appealing. Lenders in our network understand your urgent financial obligations They have entered the lending market to meet the rapidly growing demand. Most of those with bad credit would not consider going to a financial institution for a loan. This is because your request is likely to get rejected and the decision will take long.
  • You will be signing up for lenders who offer good value. This means that you still have a chance even after a rejection from a traditional lender.  Many lenders are willing to assist you. We have links to many lenders offering reasonable installment rates that will definitely suit your needs. They have clear terms with no hidden charges.
  • If you are in need of an installment loan with a bad credit history, you have to do some research. When you keep to your budget, you will eventually find the right lender for your situation. The offers are very appealing but you need to take your time and look at various lenders working with us. Prepare to pay the installments as scheduled in order to maintain a good credit profile and improve your financial rating.

Features of installments loan

  1. Features of installments loan
    Features of installments loan

    Installments loan are loans that you can qualify for with or without presenting collateral to your lender. You will only be required to assure your lender that you are able to pay back within the given time. The amount you request plus interest is divided into equal payments. You are going to be paying the amount you owe in portions.

  2. These loans are more reasonable and also safer for you when you have a bad credit score. They are safe because lenders have affordable terms. The fact that you will be paying back your loan over a period of time makes the process easier compared to paying a whole amount in one go.
  3. You will be required to abide by a specific time of repayment. With several payments to make, you are in a better position to plan out your budget. This will ensure that you are paying your installments on time.

Working with installment loans

 

Working with installment loans
Working with installment loans
  • First, take your time to look at your options carefully and settle for an amount you are comfortable with. For instance, if your objective is to improve your credit rating, then start by requesting for a small amount that you are sure you can repay back without fail. Remember that failing to repay will work against you.
  • Be ready to create a good profile for lenders. Your profile should portray that you have the ability to pay back a loan.
  • It is fortunate that bad credit lenders are available right for you at the comfort of your home. We have lenders offering loans with minimal requirements. Some of the basic requirements include your personal identification, income amount and an active bank account.
  • You need to prove that you have regular income for a lender to approve your loan request. He will take a look at your profile and offer you an amount accordingly.  You need to ensure that you only provide accurate information.

Types of installment loans

There are two types of installment loans. They include;

  • Types of installment loans
    Types of installment loans

    Secured loans: these loans are those offered based on your provision of a collateral which may be your house, car, stocks and even bonds, among others. With these loans, you will get lower interest rates. This is because your lender has your property as security.

  • Unsecured loans are loans offered without collateral. Your lender will expect you to pay a slightly higher interest. There are many lenders working with us who are willing to offer you such loans.

The fact that securing a loan from a bank is quite tiresome makes lenders in our network worth a try.

 

Best merchant cash advance companies in the market ranked (As of February 2017)

  1. On the top of the ranking in our list of best merchant cash advance companies is Aliant Payment systems. It is based in Fort Lauderdale, Florida and established in 2003. Its revenue estimates about $3 to $5 million. There are 150 full-time working employees and more than 5000 active clients. Its client retention rate is 95%. Major clients include Taylor’s Closet, Broward Education Foundation, Unforgettable Prom Foundation, Inc., among others. Other services they offer are ATM and credit services. Based on their rates, efficiency, security, customer support and calculation methods, their overall score is 100%.BankCard USA
  2.   Second place is for BankCard USA. It is based in Agoura Hills in BankCard USA California, and it was established in 1998. Its revenue estimates about $1 to $3 million. There are 332 full-time working employees and more than 20,000 active clients. Its client retention rate is 96%. Major clients include Lunaria Music and also Supertone Hearing and Coastal Dermatology among others. Another service they offer is Payment Getaway. Based on their rates, efficiency, security, customer support and calculation methods, their overall score is 99.6%.
  3. The third place is for Credit Card Processing Specialists. The company is based in Grandville, Michigan and it was established in 2010. Its revenue estimates from $250,000 to $1 million. There are 30 full-time working employees and more than 1000 active clients. Its client retention rate is 98%. Major clients include Main Street Technologies and South Central Pallets, also Discovery Network, Advance Auto Parts, and Ace Hardware, among others. Other services they offer are credit card services. Based on their rates, efficiency, security, customer support and calculation methods, their overall score is 99.2%.ForwardLine Financial
  4. ForwardLine Financial – Fourth on the list is ForwardLine Finnncial. It is based in Woodland Hills in California and it was established in 2003. Its revenue estimates about $1 to $3 million. There are 12 full-time working employees and more than 50 active clients. Its client retention rate is 95%. Major clients include Leisure Lifestyles and The Color Studio & Salon, National Park Village & The Country Supermarket, and also Pepper Palace, among others. Another service they offer is payment getaway. Based on their rates, efficiency, security, customer support and calculation methods, their overall score is 98.8%.
  5.   Next on the list is Maverick Capital. It is based in Agoura Hills in California, and it was established in 2000. Its revenue estimates about $3 to $5 million. There are 30 full-time working employees and 153 active clients. Its client retention rate is 98%. Its major clients’ list is confidential. Another service they offer is providing loans for small businesses. Based on their rates, efficiency, security, customer support and calculation methods, their overall score is 98.4%.
    FastCapital 360
  6. The sixth place is for FastCapital 360. It is based in Southampton, Pennsylvania and it was established in 2009. Its revenue estimates more than $10 million. There are 120 full-time working employees and 3500 active clients. Its client retention rate is 95%. Its major clients’ list is confidential. Another service they offer is providing loans for small businesses. Based on their rates, efficiency, security, customer support and calculation methods, their overall score is 98%.
  7. Next is the United Payment Services. It is based in Newbury Park in California and it was established in 1998. Its revenue estimates more than $10 million. There are more than 50 full-time working employees and more than 10,000 active clients. Its client retention rate is 97%. Major clients include Arinc, La Brea Bakery, Rockwell Collins, Otis Spunkmeyer, and even IBM, among others. They also offer credit card services. Based on their rates, efficiency, security, customer support and calculation methods, their overall score is 97.8%.
  8. The eight place is for Merchantcash.com, based in Tampa, Florida and established in 1999. Its revenue estimates about $250,000 – $1 million. There are 12 full-time working employees and 24 active clients. Its client retention rate is 88%. Major clients are confidential. Based on their rates, efficiency, security, customer support and calculation methods, their overall score is 97.6%.
  9. Ninth is Advanced Merchant Services. It is based in Jacksonville, Florida and it was established in 2007. Its revenue estimates about $1 to $3 million. There are 29 full-time working employees and more than 200 active clients. Its client retention rate is 93%. Their major clients’ list is available only upon request. They also offer check processing as an additional service. Based on their rates, efficiency, security, customer support and calculation methods, their overall score is 97.2%.
    RedFynn
  10. Next on the list is RedFynn. It is based in Thousand Oaks in California and it was established in 2002. Its revenue estimates more than $10 million. There are 400 full-time working employees and more than 153,000 active clients. Its client retention rate is 99%. Their major clients’ list is confidential. Other services they offer are credit card services. Based on their rates, efficiency, security, customer support and calculation methods, their overall score is 97%.
  11.  Eleventh on the list is Direct Capital Corporation. It is based in Portsmouth in New Hampshire and it was established in 1993. Its revenue estimates about $5 to $10 million. There are 253 full-time working employees and more than 1000 active clients. Its client retention rate is 92%. Major clients include Georgetown Group and HDT, Wooden Ships, Incorporated and also Infrastructure Insights, Incorporated and Wild Pets, among others. Other services they offer include equipment leasing. Based on their rates, efficiency, security, customer support and calculation methods, their overall score is 96.6%.
  12. Next is Yellowstone Capital. It is based in New York, the State of New York and it is in the merchant cash advance business since its establishment in 2009. Its revenue estimates from $250,000 to $1 million. There are 43 full time employees and more than 50 active clients. Its client retention rate is 95%. Some of their major clients are Riverland LD&S, Incorporated, Raydar & Associates, Incorporated, Revenue Systems Incorporated and also Charlotte Family Yoga Center,  among others. They also offer credit card services. Based on their rates, efficiency, security, customer support and calculation methods, their overall score is 96.2%.

Merchant cash advance leads

Merchant cash advance is different from loans
Merchant cash advance is different from loans

Merchant cash advance is a growing industry that allows small business owners to receive quick funds to finance their emergency purchases without having to apply to the major lenders and follow strict qualification criteria. Cash advances are being provided in exchange for daily payments that are a percentage of the sales made by these business owners. Although the industry was established in the late 1990s, it has significantly grown in the past couple of years. This is due to the recent financial crisis. All providers have an interest in finding out good deals for funding a small business. In order to achieve that, they use leads. Merchant cash advance leads are a necessity for the merchant cash advance providers.

Merchant cash advance is different from loans. Actually, they are the sale of a percentage of the future credit or debit card sales of the funded businesses. With the growth of the industry, the interest rates also went up to 30%. In order to prevent any legislation attempts from the different state authorities, cash advance providers came up with self-regulating standards.

The targeted market includes retail, restaurant, and service companies because they have massive daily credit and debit card sales. These could not qualify for traditional loans because of a poor credit score or lack of guarantees.

 merchant cash advance leads are of great importance
merchant cash advance leads are of great importance

Experts claim that the market has a further growing potential, while only 10% of which is worth more than $5 billion. Therefore, merchant cash advance leads are of great importance for all already established or brand new market players. Leads are being provided by third party lead verifying companies that operate with a data store of the potential customers’ business phones and other contact information. This way, lenders could contact their potential clients directly.

Such companies provide leads that contain details of business owners with high levels of daily credit card sales. The leads should also be interested in receiving a merchant cash advance. This makes things easier for advance providing companies because they don’t need to advertise directly via phone or spend money on telemarketing, reaching out to businesses who aren’t interested in their products. A much more convenient way would be contacting a live leads provider and thus saving both time and money. This involves acquiring information on business owners with a higher chance of qualifying for a merchant cash advance.

Those leads providing companies work with a trained team of experts who is able to follow the particular requirements of the cash advance providers to achieve their marketing and sales goals. Such companies work not only with media, online and public records and resources, but also use online questionnaires to fill out the lists of leads for cash advance potential clients. The lists are a subject of another filtering with the particular requirement of the client. Thus, both the provider and receiver of the cash advance would get exactly what they want. This is an excellent way to save time on advertising while spending more time on the actual selling of the product.

Merchant cash advance leads themselves are a product that is for sale. While cash flow is the biggest financial concern for business owners, merchant cash advance leads are the easiest, fastest and simplest way for establishing relations between cash advance providers and those in need of funding.

Merchant cash advance leads companies provide at least two contact possibilities for the leads- their business phone and email. They prefer businesses that have been established at least 6 months prior to the lead request and have a monthly volume that exceeds $10,000. These companies provide their clients with the company name, contact name, phone number and email of the business.

Leads that are being provided are of businesses having cash flow issues and requiring a fast funding source. Of course, they all have been thoroughly researched by the lead providing company’s team of highly trained experts and the list have been filtered in order to exclude those who aren’t appropriate to the needs of the merchant cash advance provider.

Lists of potential leads are being pre-ordered on a weekly basis
Lists of potential leads are being pre-ordered on a weekly basis

Lists of potential leads are being pre-ordered on a weekly basis so that they are always precise and genuine. Several network strategies are being used. Among them are keyword search, direct emailing and others. Thus, leads are perfected in order to be used by companies that are trying to establish a consistent marketing strategy. This strategy should aim towards delivering a steady flow of leads which will convert into predictable sales. Therefore, it is particularly important that the leads are fresh and open for merchant cash advance offers.

On the other hand, leads providing firms aim towards establishing not only precise lists of leads but also towards establishing a stable circle of clients among merchant cash advance providing companies. Such relationships are of mutual interest to all parties involved.

Experienced merchant cash advance leads providing companies work with highly trained experts who are constantly interacting with their clients so that they are able to provide the most efficient solutions, thus ensuring the success of their clients. Communication is done via phone and email. Communication is done via phone and emailThe leads providing industry is growing and there are more and more players on the market. Some of them have better reputation and are more experienced than others. They assist their clients in evaluating and eliminating risk. Some of them provide competitive prices for their services. Some use specially designed live transfer programs. Some of them work faster than others and are able to provide the leads lists within several days. Some of them work with fewer clients while others try to assist as many as possible.

There are also companies that have developed targeted mailing lists designed to help merchant cash advance providing companies with establishing their own custom strategy for interacting with potential clients. Some leads providing companies offer consulting service to further help their clients to successfully acquire a circle of clients among the small business owners. Initial consultations may also be free of charge as a bonus.

Merchant leads product list typically includes live transfer leads and merchant cash advance leads. Live transfer leads are merchants interested in obtaining funding while being checked for credibility. Merchant cash advance leads are being hunted via direct mailing and industrial partnerships.

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