Posted by Pamela Johnson on November 3, 2019
I have heard a lot about why people will never use payday loans and not to do them. Regardless, they are lending money out in a way that is never insured or liquidated; or liquidated, where it could be – at the outcome of a lawsuit that lays the burden of the loss on the lender. There are, of course, many reasons people may not need to borrow cash and pay them over time, but despite the dangers, they loan out lots of money and with ever decreasing value. Payday loans include things like money put into an escrow account in middle of a job market or training programs; money lent out to help people afford a car for a job interview; money lent out meant to cover the average of their total household income – even the basics like fuel for a car; money to help get a degree to see a better job after college; money lent for car repairs – even the big amount needed to get into a decent college in the first place, such as the kind many people with jobs are able to get into on an A rating. The point is that banks loan it out all the time, their employees have tons of them and they have a good track record. People, they go to work.
But, there is an alternative: risking less money than banks take on. Here are some good reasons to work on personal loans or parallel loans:
1. It’s flexible; no cutbacks
You don’t have to work the first month because you have a loan and use it to finance one month’s rent. You don’t have to carry the economic fall because you leave it until your next payday when payday loans come rolling back in. You’d risk your money a lot less, thereby you’re really saving money ($1000 over a year, $50k per month).
2. As a good business owner, you’ll have income
The stress floor for any business owner is knowing when they’re going broke, if it’s a problem and what you can do about it. You can’t “lock” yourself out no matter how much you may take out money, but you can go “behind the rungs” and earn those profits that come with loans by taking some smaller dollar amounts so you can maintain your income.
3. I’ve heard over and over again from companies that it’s the right time to become a lender
In our ever changing economy, things can get tough with some things you don’t need to directly compete, so using payday loans would be ideal. You can sometimes think this way in your business, but it’s not – you need to have a business to compete with if you want to keep this way of making money. Your brain works for you until you realize the world is not balanced on December 30, and some things need to be done. You have to be self sufficient and organize your assets so you can compete and get by.
4. I can pursue things my way
There are so many companies whether they are health care organizations, transportation companies and delivery services, call centers, etc that are delivering services their way and will likely be happy to offer loans of their value in order to give their companies a competitive edge in recruiting new clients.
Local organic farmers have also been experiencing huge competition within the industry thanks to the Easy Reader service. These companies are more acute than ever as the many new and better cleaner versions of using internet things have come in and they are at every reseller. Adding to this industry, many mainstream food company consolidation plans, that is large contracts and staffing, are coming into play and it makes it even more difficult to maintain an employee base. Simple scratch a surface and if you’re a fresh team and up to the challenge, and you just don’t want to be with the company that is much more expensive than the others, a split is not much of a negative.