Applicant demand in London rental market remained strong in November, rising 1% higher compared to November 2023. This is according to the latest data from lettings agent Foxtons which shows that year to date, 2024 has seen very similar demand to 2023, staying within 3% of the previous year.
However, there was significant variation in demand across London; Central London saw a 15% increase in applicant demand year to date in 2024, whereas West London saw a 20% reduction.
Foxtons reports that budgets have increased slowly throughout the year, as the expectation of increased competition and a scarcity of lettings stock failed to materialise or have any significant impact on the market – yet.
Whilst some landlords are leaving the market, there is an increased number of listings providing renters with more choice than previous years. Average rental prices have remained stable and even started to cool in recent months. They are likely to remain stable through Q1 2025.
New renters per new instruction in 2024 were 12% lower than in 2023 year to date, averaging 15 applicants per instruction by the end of November. This month showed similar figures to October, as the average declined just 2%. Central London saw a 13% increase year to date driven by the increase in demand, whereas all other regions in London saw a significant decrease.
Average rent in November 2024 was £541 per week, a 5% decrease month on month compared to October. Average rental prices were lower in November 2024 than in 2022 and 2023. Compared year to date to 2023, there has been a 2% decline in rent in 2024. Rent on houses has seen the largest decline in 2024 with a 5% decrease, whereas one- bed flats have seen a 1% increase.
Commenting on the latest data Foxtons managing director of lettings Gareth Atkins said: “Rental demand was steady and persistent in 2024, even as the number of listings increased – reaching 7% higher than 2023 (year to date) by the end of November. So, although this market had more of the traditional seasonality than we’ve seen in recent years, it was still highly competitive throughout, with an average of 15 renters per each new listing year to date.
He added: “As we step into 2025, the lessons of 2024 are clear: success requires not just property, but proactive, intelligent market engagement for buyers, sellers and landlords alike.”
Steady demand shapes London rental market in 2024: Foxtons – Mortgage Strategy
Best Startup Business Loans for Bad Credit in 2024
Starting a small business is expensive. Almost every small business owner faces startup expenses, whether you’re a solopreneur needing a laptop or a construction company purchasing a lot full of heavy machinery. Inventory and equipment must be bought, employees or contractors must be paid, and rent comes due every month.
What’s harder, outside funding is often difficult to access when your company is young, but in need of capital. Startup business loans are a great way to bridge this funding gap—and even if you have a suboptimal credit score, there are forms of financing you can probably still access.
Best startup business loans for bad credit with easy approval.*
The following list highlights lenders from our selection of best business loans that offer minimum credit requirements of 650 or below and a minimum time in business requirement of six months or less.*
| Lender/Funder* | Loan/FInancing Type | Minimum Time in Business | Minimum Credit Score | Time to Funds (After Approval) |
| ClickLease | Equipment Financing | Any | 520 | As soon as same day |
| Gillman-Bagley | Invoice Factoring | 3 months | N/A | As soon as next day |
| Eagle Business Funding | Invoice Factoring | None | N/A | 48 hours |
| Credibly | Business Cash Advance | 6 months | 500 | 48 hours |
| Expansion Capital Group | Business Cash Advance | 6 months | 500 | Within 24 hours |
| Good Funding | Business Cash Advance | 3 months | 575 | Same day |
| Fundbox | Line of Credit | 6 months | 600 | Same day |
Small business loan options for startups with bad credit.
If you’re starting a business with a lower credit score, there are several loan routes you can take.
SBA loans
While the SBA 7(a) and SBA 504 loan programs were created for established businesses, the SBA does offer two startup loans.
1. Microloans
The Small Business Administration’s (SBA) microloan program is designed specifically to assist small businesses, start-ups, and nonprofit child care centers. This program offers loans up to $50,000, with the average loan being around $13,000. The funds can be used for various purposes including working capital, inventory, supplies, and machinery or equipment. However, microloans cannot be used to pay off existing debts or purchase real estate.
To qualify for an SBA Microloan, the borrower must meet certain criteria:
- Credit history – The borrower’s credit history is reviewed. While there isn’t a minimum credit score requirement, a good credit history can improve the chances of approval.
- Collateral – Depending on the loan amount, the borrower may have to provide collateral to secure the loan.
Remember, the SBA doesn’t provide the loan itself, but instead, it works with approved intermediary lenders to offer these loans.
2. Community Advantage 7(a) Loans
The Community Advantage (CA) program (now under the SBA 7(a) program) is another offering by the SBA, aimed at promoting economic growth in underserved markets. Community Advantage Small Business Lending Companies (SBLCs) can provide up to $350,000 in funding. These funds can be used for a range of business activities, including startup costs, expansion of an existing business, and working capital.
To qualify for a Community Advantage loan, certain criteria must be met:
- Credit history – Similar to the SBA Microloan, the borrower’s credit history is assessed. While no specific minimum credit score is set, borrowers with a good credit history typically have a higher chance of approval.
- Collateral – Depending on the loan amount, collateral might be required to secure the loan. The specifics regarding collateral are determined on a case-by-case basis.
- Location – The business must be located in an approved underserved market. These included businesses located in Low-to-Moderate Income communities, Empowerment Zones and Enterprise Communities, Historically Underutilized Business Zones, Promise Zones, Opportunity Zones, and rural areas. Additionally, each lender is authorized to work within a certain state or group of states.
- Demographics: Underserved markets also include newer businesses in operation for less than two years, businesses that are at least 51% owned by veterans, or businesses with at least 50% low-income workers.
Remember, as with the SBA Microloan program, the SBA does not provide the loan directly. Instead, it works with approved SBLCs to provide Community Advantage loans.
Online lenders
In the realm of bad credit business loans, online lenders often emerge as a viable option for startups. These lenders provide a variety of financing options, many of which are designed with lenient credit requirements, specifically catering to business owners with bad credit. While online lenders also offer SBA loans and term loans with more stringent credit requirements, they also offer alternative forms of financing.
Business Lines of Credit
Many online lenders provide business lines of credit that allow businesses to draw funds up to a maximum limit as needed. Similar to a credit card, you only pay interest on the amount you use, making it a flexible financing option.
Invoice Financing
Online lenders often offer invoice financing, allowing businesses to borrow against their outstanding invoices. This can provide immediate cash flow while waiting for customers to pay.
Business Cash Advances
A business cash advance, sometimes called a merchant cash advance, is an upfront sum of cash in exchange for a slice of future sales. This can be a beneficial option for businesses with strong sales but poor credit.
Equipment Financing
Equipment financing is offered in the form of a term loan or equipment lease for the purchase of qualified equipment. Since the equipment serves as partial collateral for the loan, equipment funders often have less stringent credit score requirements.
CDFIs
Community Development Financial Institutions, or CDFIs, are private financial entities that are primarily dedicated to delivering responsible, affordable lending to aid low-income, low-wealth, and other disadvantaged communities. CDFIs play a significant role in generating economic growth and opportunity in some of the nation’s most distressed communities. They can offer an array of financial products and services, including business loans, to help underserved communities join the economic mainstream.
CDFIs are found across the United States, and you can locate one near you by visiting the CDFI Fund’s Award Database. This database provides information about CDFIs that have received financial awards or recognition from the U.S. Department of the Treasury.
In terms of requirements to work with CDFIs to get a business loan, it varies across different institutions. However, typical requirements may include a business plan, financial projections, personal and business credit history, and collateral. Some CDFIs may also require that the business operates in a specific geographic area or serves a particular community. It’s recommended to directly contact a CDFI for their specific lending criteria and application process.
Alternate forms of financing
In addition to a small business loan, there are alternate forms of financing that can be explored if you have a lower credit score.
Crowdfunding
Crowdfunding platforms like Kickstarter or Indiegogo allow you to raise capital through small contributions from a large number of people. This form of financing is often used by startups looking to launch new products or services, and it also offers an opportunity to validate your business idea in the market.
Venture capital
Venture capitalists invest in startups with high growth potential in exchange for equity in the company. These investments are high-risk but can provide substantial funds for your business, with the bonus of gaining experienced partners who can offer strategic advice.
Grants
Business grants are sums of money awarded by government departments, foundations, trusts, and corporations to help businesses get started or grow. The great advantage of a grant is that it doesn’t need to be repaid. On the downside, competition can be intense, and the application process can be time-consuming.
Business credit cards
You will need a credit score of at least 650 to qualify for a business credit card, but if you meet that minimum requirement, a business credit card is a great way to bolster your credit even further while covering smaller, short-term expenses.
Personal loan
In some circumstances, you may qualify for a personal loan with a poor credit score. While this may not be the most ideal option, it could provide you with the funds you need to get your business off the ground. Just make sure to carefully consider the terms and interest rates before making a decision.
*Disclaimer:. The information provided is accurate at the time of the initial publishing of the page (February 5, 2024). While Lendio strives to maintain this information to ensure that it is up to date, this information may be different than what you see in other contexts, including when visiting the financial information, a different service provider, or a specific product’s site. All information provided in this page is presented to you without warranty. When evaluating offers, please review the financial institution’s terms and conditions, relevant policies, contractual agreements and other applicable information. Please note that the ranges provided here are not pre-qualified offers and may be greater or less than the ranges provided based on information contained in your business financing application. Lendio may receive compensation from the financial institutions evaluated on this page in the event that you receive business financing through that financial institution.
How to Max Out Retirement Contributions
Every year, the IRS sets a limit on how much money you can contribute to your retirement plans. When you contribute less than the maximum amount allowed, you miss an opportunity that you can’t exactly get back.
Unfortunately, most people can’t afford to max out their retirement contributions each year. In fact, 63% report that they’re not saving enough for a secure retirement.
But there’s still a chance you might be able to set aside more than you’re saving now. Even if it’s a small increase, the benefits can be significant, from short-term tax breaks to long-term peace of mind.
8 ways to increase your retirement contributions
1. Max out your employer match
How often does your employer offer you free money? If they have a retirement contribution match, it happens every paycheck. Most employers will match what you put into your account, up to 3% of your gross pay.
There are often set dates, usually quarterly and semi-annual, when you can enter your employer’s matching plan. If you’re not yet participating, check with your employer to see how soon you can join.
2. Harness your pay increases
If you receive a pay increase or a bonus, put the money to work. Instead of giving in to lifestyle inflation, which is the natural tendency to spend more when your pay goes up, adjust your recurring retirement contribution.
If you get a bonus, put the money into retirement instead of spending it on a big vacation or holiday gifts.
When you start harnessing your pay increases and bonuses, you’ll have a better shot at maxing out your retirement contribution and increasing your wealth.
3. Move cash around
In recent years, interest rates have been exceptionally high on bank accounts like CDs and high-yield savings accounts (HYSAs). But as interest rates drop, you’ll have to move your money elsewhere to earn high returns.
If you have money saved up that you don’t need for emergencies or for upcoming expenses, now’s the time to consider putting it toward your retirement. If one of your CDs matures, consider moving that money to your retirement plan, too.
4. Cut the low-hanging fruit
When did you last look at each line-item expense on your bank or credit card statement? If it’s been a while, then you probably have expenses you don’t know about and can easily cut.
For example, over 85% of people say they’re being charged for at least one subscription they don’t use, with an average cost of $32.84.
Looking through your financial statements takes just a few minutes. Still, it’s an easy way to find expenses you can forego. Once you cut an expense, increase your recurring retirement contribution by the amount you just saved.
5. Consolidate or refinance
With interest rates falling, many borrowers can free up money by consolidating into a new loan or refinancing their debt.
If you refinance $16,000 of credit card debt from 23% APR to 15% over 4 years, your monthly payments could drop from $595 to $445. That’s an additional $150 a month freed up for retirement savings.
Before you refinance, just make sure you shop around for the lowest lender fees available. These up-front costs can be significant but worth it if the refinance loan saves you money overall.
6. Use multiple plan types
Are you already on the verge of maxing out your retirement contributions for 2024? If so, you might look for another type of plan.
For example, if you’re going to max out a 401(k) or a 403(b), consider opening a Roth IRA. For individual tax filers who earn up to $146,000, you can contribute up to $7,000 to a Roth IRA for 2024.
When you combine that with your employer-sponsored plan, your maximum allowable retirement savings goes up to $30,000 for the year.
For self-employed individuals can potentially save more for retirement by using a solo 401(k) or SEP IRA instead of a traditional or Roth IRA.
With a solo 401(k) or SEP IRA, your earned income could qualify you to contribute as much as $69,000 for 2024, or even more if you’re over 50 and you make catch-up contributions.
7. Contribute in 2025
If you can’t hit your retirement savings goal in 2024, there’s still time in 2025. You can make contributions to an IRA for the 2024 tax year until April 15, 2025.
To improve your chances of hitting the maximum allowable amount, check to see what your total contribution is at the end of 2024. Then, determine how much more you need to add before you max out.
Instead of waiting until April 15th to make a large IRA contribution, see if you can divide the contribution equally over each paycheck before that deadline.
What does it mean to max out your retirement contribution?
Maxing out your retirement contribution means you contribute the maximum amount the IRS allows for a given tax year. If you exceed that amount, also known as making “excess contributions” you could face a 6% tax on the excess, or the money may be taxed twice.
A more common concern, however, is contributing less than the maximum amount allowed. When that happens, you reduce the total amount you’re able to save over your lifetime. But you also lose out in a few other ways:
- Tax advantages: Contributions to 401(k)s, 403(b)s, and traditional IRAs can help reduce your taxable income and tax bill.
- Compound interest: The longer your money is invested, the more it can grow. That’s due to compound interest, which is the interest earned on both the initial contribution and the already accumulated interest.
IRS Retirement Contribution Limits
|
Retirement plan |
2024 Limit |
Additional catch-up contribution (for people 50 and over) |
|
401(k), 403(b), SIMPLE AND SARSEP |
$23,000 |
$7,500 |
|
Solo 401(k) |
$69,000 |
$7,500 |
|
IRA (traditional or Roth) |
$7,000 |
$1,000 |
|
SIMPLE IRA |
$16,000 |
$3,000 |
|
SEP IRA |
$69,000 (or 25% of compensation) |
Not usually allowed |
Remember, every dollar you set aside today has the potential to grow over time, thanks to compound interest.
Whether you’re just beginning or nearing your retirement goals, these strategies can help you build a stronger, more secure future—one step at a time.
All personal loans made by WebBank.
How to Appeal a Prudential Long-Term Disability Denial
With nearly $1 billion in in-force premiums, Prudential Financial (via its subsidiary, Prudential Insurance Company of America) is one of the 10 largest providers of long-term disability insurance plans in the United States.
They also, like many large insurers, have a long history of unfairly denying legitimate claims. Courts have had to hold them accountable many times, including a $40 million settlement in 2014 after Prudential denied full death benefits to fallen soldiers’ families. They were also forced to revise their life insurance practices in 2023 after the U.S. Department of Labor found that they had denied hundreds of claims due to policyholders not providing proof of insurability, even though they had been paying premiums for years.
If you’ve recently had a long-term disability claim denied by Prudential, don’t let that be the final word. Legitimate claims are denied all the time.
If you want the best chance at a successful appeal, you should contact an experienced long-term disability lawyer as soon as possible. You may have a limited amount of time to file, and only one opportunity to add evidence to record.
RELATED: What to Look for in a Prudential Long-Term Disability Lawyer – Bryant Legal Group (bryantlg.com)
First Step: Determine If You Have an ERISA Plan
Whether or not your long-term disability insurance plan is subject to ERISA regulation will determine the appeal procedures and legal options available to you.
Generally, your plan is governed by ERISA if:
- You purchased a group disability insurance policy through your employer.
- Your employer is not a religious organization or government entity.
On the other hand, if you bought long-term disability coverage directly from the insurance company, your policy is not governed by ERISA.
The majority of Prudential long-term disability plans are ERISA plans, but if you aren’t sure, give us a call.
Breaking Down the Prudential Appeals Process Under ERISA
Carefully Review Your Denial Letter
When Prudential denies a claim, they are legally required to provide policyholders with a detailed claim denial letter. At minimum, this letter should clearly reveal:
- Prudential’s reason for denying the claim. Common reasons include lack of supporting medical evidence, excluded conditions (for example, due it being pre-existing), or failure to meet the plan’s definition of disability.
- Appeal procedures and guidelines. Every insurance company has their own unique administrative appeals process—and unfortunately, Prudential’s tends to be more complex than most. That said, as with all ERISA plans, you’ll have at most 180 days to file an appeal, or you’ll lose your right to take further legal action.
Request a Copy of the Claims File
If Prudential didn’t already provide you with a copy of your claims file, request it immediately. The claims file should include all of the medical records and information that they have on your case, and used to make their determination. In short, you need to know what they have on you so you can figure out what’s missing, or been incorrectly evaluated.
Contact a Long-Term Disability Lawyer
Keep in mind that, while Prudential is obligated to provide you with information about how to file an appeal, they certainly aren’t going to coach you on best practices for filing a successful one. In fact, they’ll probably make it sound simpler and less stressful than it really is.
Why? The reality is that you will probably need a lot of evidence and a very well-prepared case to successfully overturn their denial. And if your administrative appeal is still missing key evidence, you won’t be able to include it even if you take them to court.
Because of the strict deadlines and huge amount of risk involved, you should contact a long-term disability lawyer and have them review your denial letter and claims file as soon as possible.
Gather Evidence
Once your attorney has had a chance to review Prudential’s denial letter and claims file, they will help you gather relevant evidence and documentation proving your disability. This might include:
- Missing or new medical records that support your diagnosis.
- Additional medical opinions and letters of support from your medical team that confirm a determination of disability.
- Functional evaluations and other testing that confirms your physical and/or cognitive limitations.
- Vocational evaluations that provide detailed, realistic projections of your future employability and earning capacity.
- Letters of support from colleagues, acquaintances, family members, and other people who can describe your circumstances both pre- and post- disability.
- Personal photos, videos, and journal entries documenting your daily experiences.
- Other evidence and documentation as determined by your long-term disability lawyer.
Write an Appeal Letter
Once the evidence has been gathered, your lawyer will write a detailed appeal letter. This letter will outline the specific determinations that you are contesting, why you disagree with the decision, and new evidence you are supplying to support your appeal.
Submit Your Appeal and Wait for a Response
Your attorney will submit the appeal letter and all the additional evidence to Prudential. The insurance company will then have up to 45 days to respond. They can also request a one-time extension of 45 more days, so you may have to wait up to 90 days to find out if your appeal has been accepted.
Next Steps If Your Appeal Is Denied
If your appeal is denied, talk with your long-term disability lawyer about what options are available.
As noted above, each insurance company has its own internal policies and procedures for administrative review. Prudential is one of a handful of insurance companies that may require you to go through two full rounds of administrative review before you can file a lawsuit.
If all your mandatory administrative remedies have been exhausted, and your claim has still not been approved, the final step is to take Prudential to court.
Taking Your Case to Court
If you still believe that Prudential’s denial was in error, you have the right to make your case in federal court.
ERISA cases are usually heard by a judge, rather than a jury trial. The judge is also only allowed to review whatever evidence is already in your claims file after your final administrative appeal. No new evidence can be submitted.
The Appeals Process for Non-ERISA Plans
If your plan is not governed by ERISA, then it is governed by your state’s contract laws.
Where we primarily practice (Illinois), policyholders can file a lawsuit against Prudential at any time—there is no requirement to use the full administrative review process. Furthermore, you have the right to request a full jury trial, and you can seek bad faith damages on top of your promised benefits if you believe that Prudential acted with willful negligence or malicious intent.
Because you have so many more options with non-ERISA appeals, there is no one standard appeals process. Contact a long-term disability attorney in your state as soon as possible to discuss your case and determine which of your legal options makes the most sense for your circumstances.
RELATED: Appealing Denied Private Disability Insurance Claims – Bryant Legal Group (bryantlg.com)
Did Prudential Deny Your Long-Term Disability Claim? Contact Bryant Legal Group Today
Prudential is a business. Their goal is to make money. Don’t assume that they have your best interests at heart just because you’re a “customer” and have paid your premiums faithfully. Once you file a disability claim, they are incentivized to look for any reason to deny it. They won’t give you the benefit of the doubt if your claims file isn’t airtight.
Bryant Legal Group has earned a strong reputation for handling disability claims and appeals throughout Illinois. To schedule your free consultation with our law firm, call us today at 312-561-3010 or complete our online form.
Duplicate Aadhaar Virtual ID And its Benefits
Considering the protection of the individual information including the statistic and biometric data specified on the Aadhaar card, UIDAI has of late chosen to think of one of a kind element, named as Virtual Aadhaar ID.
One of the major benefits of this new process is that it will let organizations fetch only the information that is relevant, i.e., name, address and mobile number rather than giving the entire information of an individual’s
WHAT IS AADHAAR VIRTUAL ID?
The Aadhaar virtual ID comprises of 16 digit number that is mapped to an individual’s Aadhaar. An Aadhaar card holder utilizing = any money related issues.
The Aadhaar Virtual ID offers access to the biometric data of an Aadhaar card holder alongside the fundamental subtle elements like name, address and photo that are adequate for e-KYC. Now the only difference will be that none of the organizations will know the 12 digit Aadhaar number, limiting the access of stealing anyone’s personal information.
Also read: How real is Virtual ID in the real world?
BENEFITS OF AADHAAR VIRTUAL ID
- Access to only that data which is essential, so you can be sure that not all your data is being scanned.
- It makes the work a little simpler for the organizations for the KYC purpose
- Generating Virtual ID is extremely easy since it’s a complete online process and you will receive it in less than a minute
- It is easily accessible, safe and a secure ID. It can work as a replacement to your Aadhaar so you can go to the UIDAI’s website and generate it anytime, anywhere.
STEPS TO GET YOUR AADHAAR VIRTUAL ID:
All Aadhaar card holders can avail this Virtual ID by visiting the UIDAI’s website.
- Visit the UIDAI’s website
- Under the ‘Aadhaar Services’ section, click on ‘Virtual ID Generator’
- Put your Aadhaar number followed by the security code/captcha
- Click on ‘Send OTP’ after putting the code
- An OTP will be sent to your mobile linked with Aadhaar
- On submitting the OTP, you will receive your Aadhaar virtual ID on your mobile linked with Aadhaar.
Flourish Financially by Nurturing Money Wellness
The significance of nurturing a healthy relationship with money cannot be overstated. It profoundly impacts your well-being and financial stability. Acknowledging the direct link between your financial habits and overall life satisfaction sets a solid foundation for improvement. By adopting a series of strategic actions aimed at enhancing your financial health, you can unlock the door to a more secure and fulfilling life. This America’s Loan Company article explores practical strategies to achieve financial wellness.
Overcoming Limiting Beliefs
Many hold onto negative perceptions of money that can hinder their financial growth. Recognizing and challenging these beliefs is crucial, replacing them with a mindset of abundance and opportunities. Viewing financial success as a tangible outcome of growth and effort rather than luck or external factors encourages a more proactive approach to money management. By shifting your perspective, you unlock your potential for achieving greater wealth.
Setting Financial Goals
Having clear financial objectives is pivotal for both immediate and future prosperity. Goals act as a beacon, guiding your financial decisions and ensuring you remain disciplined and focused. Celebrating each milestone motivates continued effort and reinforces the value of your achievements. This practice encourages a structured approach to financial planning, making your aspirations more attainable.
Creating a Comprehensive Budget
Learning to budget is an essential life skill that can help you take control of your finances and achieve your financial goals. By creating a budget and sticking to it, you can track your income and expenses, identify areas where you may be overspending, and make informed decisions about how to allocate your money. To simplify the process of creating a budget, consider using a free budget template that fits your specific circumstances and can be easily customized to suit your needs.
Continuous Financial Education
Investing time and resources into expanding your financial literacy pays dividends in the long run. Keeping abreast of new investment strategies and opportunities can significantly impact your economic growth. Adopting a mindset of continuous learning enables you to navigate the complexities of the financial world with confidence and agility. This knowledge empowers you to make informed decisions that bolster your financial security.
Start a Business
Starting a business can be a powerful way to generate additional income and build wealth. To start, you need to research your market, create a business plan, and secure the necessary permits and licenses. You must also decide on a business structure. One of the key benefits of choosing an LLC is that it provides limited liability protection, separating your personal assets from your business liabilities. Instead of hiring an attorney, you can use a formation service, which is more cost-effective and efficient. For instance, https://www.zenbusiness.com/ offers a streamlined process to help you set up your LLC quickly and affordably.
Prioritizing Savings
Consistent saving is a cornerstone of sound financial health. Automating your savings can help ensure you regularly set aside a portion of your income, fostering a habit of saving without thinking about it consciously. An emergency fund acts as a financial buffer, providing peace of mind and security in uncertain times. This practice lays the groundwork for a stable financial future.
Managing Debts Wisely
Addressing high-interest debt is a critical step toward financial freedom. You can alleviate the debt burden by prioritizing repayment and exploring ways to reduce interest rates, such as consolidation or negotiation. A strategic approach to debt management accelerates your progress toward financial independence, freeing up resources for investment in your future. This strategy underscores the importance of wise debt management in achieving financial health.
Practicing Mindful Spending
Mindfulness in spending ensures that your financial decisions align with your values and long-term goals. By focusing on meaningful experiences and investments rather than succumbing to impulse purchases, you enhance your life’s quality without compromising your financial stability. This approach promotes sustained happiness and satisfaction, highlighting the benefits of intentional spending.
Cultivating a healthy relationship with money is pivotal for achieving lasting financial wellness. Taking proactive steps to address economic challenges and work toward your goals lays the foundation for a prosperous future. The empowerment from managing your finances with intention and skill enriches your life beyond measure, offering a sense of security, freedom, and satisfaction.
America’s Loan Company is a trusted Ohio direct lender that provides affordable Personal Loans in Columbus, Ohio, and throughout Ohio to people with Good Credit or Bad Credit scores. Visit our website to learn more!
International P2P Lending Volumes August 2024
The table lists the loan originations of p2p lending marketplaces for last month. Mintos* leads ahead of Peerberry* and Esketit*. The total volume for the reported companies in the table adds up to 293 million Euro. I track the development of p2p lending volumes for many markets. Since I already have most of the data on file, I can publish statistics on the monthly loan originations for selected p2p lending platforms.
Investors living in national markets with no or limited selection of local p2p lending services can check this list of international investing on p2p lending services. Investors can also explore how to make use of current p2p lending cashback offers available. UK investors can compare IFISA rates.
Table: P2P Lending Volumes in August 2024. Source: own research
Note that volumes have been converted from local currency to Euro for the purpose of comparison. Some figures are estimates/approximations.
Links to the platforms listed in the table: Bondora*, Crowdproperty*, Debitum Investments*, Esketit*, Estateguru*, Finansowo*, Finbee*, Folk2Folk*, Geldvoorelkaar*, Investly*, Iuvo Group*, Kuflink*, Kviku.Finance*, Lendermarket*, Loanch*, Mintos*, Nectaro*, Peerberry*, Proplend*, Robocash*, Swaper*.
Notice to p2p lending services not listed:
For new companies a small listing fee applies. If you want to be included in this chart in future, please contact me for more information.
Notice to representatives of press/media: If you are interested in publishing a branded version of this table in your own layout/design, which will make a nice addendum to your coverage of p2p lending, please contact me.
How will your income affect your child’s eligibility for SSI?
Supplemental Security Income (SSI) is a federal program that provides financial support to people with limited income and resources. You can also apply for SSI on behalf of your child if they meet the disability criteria. However, the Social Security Administration (SSA) will consider your income and resources if you live in the same household as your child.
This means your income may affect your child’s eligibility and the amount of benefits they may receive. While there are no fixed income limits, the SSA looks at many factors to decide how much of your income counts towards your child’s SSI eligibility. This process, called “deeming,” can be complex.
What is the “deeming” process?
The SSA assumes a portion of your income and resources are available to your child. However, they do not count all of your income – they only consider the amount of your income “deemed” – or assigned – to your child depending on various factors. This includes:
Countable income, such as wages, Social Security benefits and pensions
The number of children in your household, since calculations depend on family size
Your child’s living arrangements and whether you live in the same household as them
Your marital status, since the SSA may consider the income of both parents if they live with the child
There are certain types of income or benefits that the SSA does not count, such as food stamps, certain pensions and home energy assistance.
How is it different from California’s State Supplemental Payment (SSP)?
The SSP is an extra amount that the state adds to the federal SSI payment, partially in order to offset some of California’s high cost of living. This increases the total benefits your child can receive. Like the SSI, the SSP amount depends on factors like your child’s living situation and disability level.
If you’re planning to apply for SSI and SSP, it’s crucial to keep detailed records of your income, expenses and your child’s medical information. An attorney can also help you navigate the challenging process and receive the benefits you need.
This is for your child’s future
An SSI and SSP can help support your child’s needs, especially in managing long-term care and daily living expenses. However, the process of getting approved can be complicated. Professional legal counsel can make all the difference.The post How will your income affect your child’s eligibility for SSI? first appeared on Disability Rights Law Center.
Where to Get a Loan for $500 Quickly
Financial emergencies can arise unexpectedly, leaving you in need of quick cash. Whether it’s an unplanned medical bill, car repair, or simply bridging the gap until your next paycheck, borrowing $500 can offer essential relief. This guide walks you through where to get a loan for $500, explaining the different types available, their benefits, and the steps to apply successfully.
Types of Loans for $500
When considering where to get a loan for $500, it’s crucial to choose the type that best fits your situation. Each option comes with unique features and requirements:
1. Personal Loans
Personal loans are a flexible option for borrowing small sums like $500. These loans are typically unsecured, meaning they don’t require collateral, and can be used for various purposes, such as debt consolidation, emergency expenses, or a significant purchase. They usually come with fixed interest rates and repayment terms, allowing you to budget effectively. Approval depends largely on your credit score and financial history, with better rates offered to those with good credit.
2. Installment Loans
Installment loans involve repaying the borrowed amount through fixed, regular payments over a set period. These can be secured or unsecured, depending on the lender and your creditworthiness. The structured repayment schedule makes budgeting easier and avoids the unpredictability associated with revolving credit. This option is ideal if you prefer a clear timeline for repayment and want to avoid debt accumulation.
3. Payday Loans
Payday loans are designed for immediate short-term borrowing, with repayment typically due on your next payday. This financial solution is one of the fastest ways to get a small loan, offering near-instant access to cash. However, they come with higher interest rates and fees, making them more expensive if not repaid promptly.
4. Emergency Loans
Emergency loans provide quick access to funds when time is critical, making them suitable for urgent needs. These loans can be processed rapidly—sometimes within the same day—giving you the opportunity to borrow $500 quickly. However, due to the speed and convenience, they often come with higher interest rates. It’s important to review the terms carefully and ensure you can meet the repayment obligations to avoid additional financial strain.
Benefits of Borrowing $500
Understanding the benefits of borrowing a small amount can help you make an informed decision:
1. Fast Access to Funds
One of the biggest advantages of a $500 loan is the speed at which you can receive the money. Many lenders offer expedited approval processes, with some providing same-day or next-day funding directly to your account. This quick access is vital during emergencies, enabling you to borrow $500 instantly and address urgent financial needs without unnecessary delays. If you require cash immediately, instant funding* options are available with some lenders.
*Must meet the following criteria: Have a debit card associated with a checking account, apply and be approved by 5:30 pm CT with the loan document signed, and meet normal loan qualifications.
2. Flexible Use of Funds
Unlike loans designated for specific purchases, such as auto or home loans, a small loan can be used for virtually any purpose. Whether you need to cover unexpected medical expenses, repair your vehicle, or manage daily expenses, you have the freedom to allocate the funds according to your needs. This flexibility makes it a versatile and convenient solution for various financial situations, providing the ability to prioritize what matters most at the moment.
3. Short-Term Debt Solution
These loans are designed for quick repayment, helping you avoid the long-term interest accumulation associated with larger amounts. By opting for a short-term solution, you can resolve your financial issues swiftly and regain stability without the stress of prolonged repayment periods. This approach helps you manage your debt efficiently and can improve your financial health by preventing long-term obligations. Furthermore, paying off the loan quickly can positively impact your credit profile by demonstrating responsible borrowing and timely repayment.
How to Borrow a $500 Loan Quickly
If you need to borrow $500 fast, follow these steps to streamline the process and improve your chances of approval:
1. Research and Compare Lenders
Start by researching various lenders to find the best rates and terms. Compare their interest rates, fees, and customer reviews to choose a reputable lender specializing in small loans. Look for those with transparent practices and a history of positive customer service. This step ensures you avoid predatory lenders and select a trustworthy option.
2. Prepare the Necessary Documentation
Once you identify a suitable lender, gather the required documents. Lenders typically need proof of identity, income verification, and banking information. Having these documents ready speeds up the approval process and shows you’re prepared. Make sure all your information is accurate to prevent delays.
3. Complete the Application
Most lenders offer convenient online applications, making it easy to learn how to get a $500 loan from the comfort of your home. Fill out the form carefully, ensuring all details are accurate and complete. Discrepancies can lead to delays or denial, so double-check everything before submission. A well-prepared application improves the likelihood of fast approval.
4. Receive and Use Your Funds
After submitting your application, the lender will review your details. If approved, the funds are typically deposited directly into your bank account, often within hours or the next business day. Be sure to review all terms before accepting the funds to understand your repayment obligations clearly.
Frequently Asked Questions About Small Loans
Where to Get a Loan for $500?
The speed of obtaining funds depends on the lender. Many online providers offer expedited services, with some providing same-day or next-day funding. To speed up the process, ensure all your documents are ready and choose a lender known for quick approvals.
Can I Get a Loan Without a Credit Check?
Some lenders offer loans without a credit check, but these options usually come with higher rates and stricter terms. Bad credit loans are helpful for those with less-than-perfect credit, but it’s essential to understand the costs involved. Always read the fine print and evaluate whether the terms are manageable before proceeding.
What are the Requirements to Apply for a Loan?
At Wise Loan, we strive to make the process of applying for a loan as seamless and inclusive as possible. Here’s what you’ll need to get started:
- Age Requirement: Applicants must be 21 or older.
- Social Security Number: Required for identity verification.
- Banking Information: A traditional checking account is necessary. Prepaid or savings accounts are not accepted. If you opt for instant funding via debit card, ensure the card is linked to the checking account you provide in your application.
- Income Deposits: Your income must be directly deposited into the checking account used for the application.
- Physical Address: A physical residential address is required; P.O. Box addresses are acceptable only as mailing addresses.
- Monthly Income: A minimum monthly income of $1,500 is required. For residents of South Carolina and self-employed applicants, the minimum is $3,000.
What Should I Do If I Can’t Repay the Loan?
If you’re unable to repay your loan, contact your lender immediately. Many offer repayment plans or extensions to help manage obligations. Ignoring the issue can lead to extra fees, increased interest, and damage to your credit score, so proactive communication is crucial.
Applying with Wise Loan
If you’re looking to secure a $500 loan, Wise Loan offers a trusted and straightforward solution with quick approvals, competitive rates, and flexible repayment options. Our transparent application process ensures you know exactly what to expect, with no hidden fees.
By choosing Wise Loan, you can access funds quickly and manage your expenses with confidence, knowing you’re working with a reputable lender focused on your financial needs. Apply today to get started.
The recommendations contained in this article are designed for informational purposes only. Essential Lending DBA Wise Loan does not guarantee the accuracy of the information provided in this article; is not responsible for any errors, omissions, or misrepresentations; and is not responsible for the consequences of any decisions or actions taken as a result of the information provided above.
Winter Is Coming for Mortgage Rates. Why That Might Be a Good Thing
Mortgage rates have been on a wild ride the past few years. In fact, it was still possible to obtain a 3% 30-year fixed mortgage in early 2022.
By late 2023, you may have faced an 8% mortgage rate. And today, your rate might start with a 5, 6, or a 7.
Volatility has reigned supreme as the Fed battles inflation and economic uncertainty makes it difficult to ascertain the longer-term direction of rates.
But one thing I’ve noticed is that rates tend to perform better during certain times of the year.
Namely in the winter months, which in the Northern Hemisphere include December, January, and February.
Winter Is a Historically Great Season for Mortgage Rates
Without getting overly technical here, winter runs from December 1st until the end of February.
It’s three months more or less, though if you want to get technical, there is an astronomical season and a meteorological season.
Anyway, I’ll keep it simple and focus on the months of December, January, and February. These are your core winter months, and also when it tends to be coldest.
While I don’t like being cold (as I reside in Southern California), winter isn’t all bad. In fact, there is actually a perk to winter when it comes to mortgage rates.
And possibly shopping for a home too.
I crunched the numbers going back to 1972 and found that mortgage rates tend to be lowest in the winter months.
Using Freddie Mac’s Primary Mortgage Market Survey (PMMS), I compiled monthly averages to determine if any months stood out.
And lo and behold, February has been the best month for mortgage rates dating back 50 years.
Mortgage Rates Have Been Lowest in February on Average Going Back 50 Years
As you can see from my chart, which took a lot of time to create, the 30-year fixed has averaged 7.62% in the month of February going back to 1972, per Freddie Mac.
While that’s about one full percentage point higher than Freddie’s current weekly rate of 6.69%, it’s the best month on record.
The only better month has been January, with an average rate of 7.64%, followed by December at 7.68%.
So what does that tell us? Well, that winter is the best season for mortgage rates! In all the winter months, mortgage rates tend to be at their best, aka lowest.
To take advantage of this trend, you may want to refinance your mortgage during these months or even buy a home during these months.
While I’m not a big fan of timing the market, there are some obvious benefits that go beyond rates themselves.
There’s generally less competition if buying a home since it’s a quieter time of year, and fewer other customers if refinancing a mortgage.
This means you could snag a lower price on a home, or in the case of a refinance, get better customer service and quicker turn times.
Also, mortgage lenders tend to pass on more savings during slow periods. When they’re less busy, they need to drum up business so this might explain why rates are lower.
Spring and Summer Are the Worst Seasons for Mortgage Rates
Now we know that winter is typically the best season when it comes to mortgage rates. But what about the worst?
Once the weather starts heating up, mortgage rates tend to climb as well.
While March seems to be a decent month that straddles the end of winter and the beginning of spring, it gets worse from there.
The very worst months are May and June, and April is practically right there with them. This also happens to be when home shopping is in full swing.
So you get an unwelcome combination of the most competition from other home buyers and the highest mortgage rates (on average).
This kind of goes against buying a home in spring/early summer as sellers might be emboldened to stand firm on price. And lenders might not be willing to offer discounts or negotiate much.
Taken together, you’re looking at a possibly inflated home sales price and a higher mortgage rate.
The only real upside is that there might be more for-sale inventory to choose from, which can be a plus since it’s been slim pickings for years now.
Mortgage Rates Are Unpredictable and May Vary Regardless of the Season
One final note here. Just because mortgage rates tend to be lowest in winter doesn’t mean they always are.
The same is true of rates being higher in spring and summer. There have been and will be years when the opposite is true.
For example, the 30-year fixed began 2024 at around 6.60% and was as low as 6% in mid-September.
But in 2023, the 30-year bottomed at around 6% in February and peaked at nearly 8% in October.
So sometimes it’ll “work out” and sometimes it won’t. Pay attention to the bigger trends if you’re looking to track mortgage rates.
Right now, we appear to be moving lower as inflation cools and the economy looks shaky.
This means mortgage rates might continue to ease this month and next, and possibly hit those lows again in February 2025.
Just know that there will always be surprises (presidential inauguration anyone?), and good weeks and bad weeks along the way.
Before creating this site, I worked as an account executive for a wholesale mortgage lender in Los Angeles. My hands-on experience in the early 2000s inspired me to begin writing about mortgages 18 years ago to help prospective (and existing) home buyers better navigate the home loan process. Follow me on Twitter for hot takes.
