Small business loan versus personal loan

EastWest Whether it is for your tuition, medical needs, or home improvement, EastWest got you covered. It is rated one of the easiest and fastest loan applications in the country, since your loan can be approved in as fast as 3 days. PBCOM PBCOM offers one of the personal loans with low interest rate in the Philippines since it lets borrowers loan up to P1M, with an interest rate of 1.

33 per year. PS Bank PS Bank Personal Loan offers a collateral-free loan product with a revolving credit line and fixed term loan. Borrow money up to P250,000, payable within 12 to 36 months.

Small business loan versus personal loan

This is above and beyond the amount required for the down payment and closing costs, by the way. Its extra money kept in reserve to cover the monthly payments hence the term. Why do some lenders have cash-reserve requirements. In a word, risk. When borrowers have additional money saved up, they are less likely to miss their mortgage payments at least the first few payments. They are mostly concerned about your payment ability in the short small business loan versus personal loan, versus the long term.

Heres why… Your lender may not keep your loan on its books for very long. They might sell it into the secondary market through Freddie Mac andor Fannie Mae (the government sponsored enterprises, or GSEs, that buy and sell bundled loans). Youve probably heard about mortgage-backed securities, or MBS.

Small business loan versus personal loan

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Small business loan versus personal loan