How Unsecured Loans May Actually Be The Answer

While most people get a negative feeling when they hear the word unsecured loans, that doesn’t always have to be the case. There are a huge number of misunderstandings about this type of loan, and these misunderstandings are one of the things that keeps the people who need them the most from getting them.In all actuality, anyone who qualifies for an unsecured loan and understands their finances is likely ready to take out one of these loans and it might be the best way to boost their home owning, business, or personal abilities over the years.

The first thing that makes one of these loans so special is that they are actually based solely upon the credit of an individual. Unlike an auto loan, equity, or any other loan that has some kind of fallback, these loans rely solely upon the past credit history of a person. This means that they tend to be smaller than some other loans, but that they are earned rather than just given. To make them sound less scary, they are often called a personal loan, which is generally a better term as it explains how they are attached to the person, rather than anything they own.

These personal loans are offered from all sorts of companies and banks and may often offer a lower interest rate than loans that are secured in some way. This is because they are built off of trust and defaulting on one of them is the best way to destroy that trust as a whole. This is why keeping one’s credit score up is so important. Any lending institute will be leery of assigning a personal loan to someone who has a history of not paying, opening too many accounts at once, being late on their payments, or simply not using their credit at all.

Once one of these loans has been taken out, the terms of repayment are not going to change. Just like any other line of credit, the terms are set at the time of signing and they will stay the same until the loan has been paid off. Many people think that this isn’t the case when they hear the words unsecured loans, but the interest, payments, and everything else to do with the loan is actually set in stone and not subject to change unless the borrower negotiates that with the lender.

The CPA Accountants Calgary

After working with small business owners for 10 + years, we have seen many individuals really good at what they do, and started their own business with great passion and excitement; however, with poor understanding of financial information, lack of cash flow management and bad tax planning, many of them unfortunately have to quit their dream.

At Streamline Accounting, we are aiming to help business owners with frequent bookkeeping/tax services, easy-to-read and up-to-date monthly financial reports and adequate budgeting for taxes, they will be financially better informed and prepared.  With all the great benefits and more, our fixed rate, all-inclusive monthly plan starts at only $139/month. There will be no year-end fee or other hidden costs. For best calgary accountants, please visit the link.

Why Fixed Monthly Plan?

FIXED: our accounting fee is pre-determined. You know how much you need to pay, no surprise at the end. Also, by paying fixed price monthly, you will not have a lump-sum accounting bill at the end of the year, especially normally that’s the time you have to pay your taxes as well.

MONTHLY: bookkeeping is prepared on a monthly basis. Many small businesses have their bookkeeping done quarterly or yearly. That means they won’t know how the company is actually performing until the end of each quarter or the end of the year. Running a business without the guidance from the up-to-date and accurately financing information, to us, it’s like driving a car in a new city without a map, success or fail all depends on the luck and your 6th sense. Put your dream, sweat, hardworking and investment as a stake to gamble the success, is it too risky?

PLAN: Plan is a Plan. We take full care of your financial reporting and government compliance including GST, Payroll, T4/T5 and year end taxes filings. In addition, after each month’s bookkeeping, we provide you with an easy-to-read financial report and key financial figures, so you know how your business is doing. If you have any question, give us a call. Each month, you have one free hour to talk to our experienced accountants for any questions.

Does that sound good? Definitely! We truly believe our fixed monthly plan is the best way that we can help you to success! Give us a call today, you will have a group of passionate, friendly and helpful professional accountants on your side.