Fresh perspective for financial success
Category: Finance
For avid chess players, or bingers of The Queen’s Gambit on Netflix, a gambit is a familiar concept: open the board by sacrificing a piece for the sake of a later advantage. But did you know that your credit follows the same playbook? When your credit score is not perfect, it can seem counterintuitive to take on more credit or make changes…
When considering the affordability of a business loan, borrowers often focus heavily on interest rate. While your rate impacts your payments, another factor has a more immediate and significant impact—and it’s often overlooked: the term. Your loan term, or the amount of time you have to pay your loan back, directly impacts how much of your loan you repay each month. Here’s what you need to know…
Your credit score is an indicator of your financial power. It’s used by lenders and creditors of all kinds to determine your creditworthiness, likelihood to repay debts, and overall money management skills. Having a strong score is especially advantageous during times of economic uncertainty, when you may need fast access to capital to cover unforeseen expenses or supplement cash flow if revenue generation is…
When it comes to taking a business loan, many people focus primarily on their interest rate. In reality, the “term”, or amount of time you have to pay back your total financed amount, is what can really have a profound impact on the month-to-month affordability of your loan. Spreading your loan repayment out over a longer period has many immediate advantages as well as benefits that you’ll feel over time. Here are…
Nearly 75% of Americans currently carry some kind of debt, whether it be through credit cards, car loans, mortgages, etc. With saving and spending patterns varying greatly from generation to generation, it may be difficult to understand how debt affects your financial health, and if you’re carrying too much. Here are 4 signs to look for:
As a busy professional, the last thing you should worry about when applying for a loan is the negative impact it’s going to have on your credit score. Whether you’re looking to consolidate debt, take advantage of a business opportunity, or simply improve your cash flow, the only thing you should be focused on is how quickly you can get the funding you need. But if the lender you’re…
It can take some lenders weeks to review a loan application, negotiate the terms of approval, and have the money transferred into your account. Each day spent waiting for your application to be processed, a credit decision to be reached and funds to be allotted represents a substantial opportunity cost for you. That’s why one of the first questions you should…
We’re facing unprecedented times. Businesses are grappling with how to respond to the COVID-19 pandemic as it threatens their day-to-day operations, and their livelihoods. Some are unable to operate unless employees can work safely and remotely, while others are being forced to limit their services and follow strict operational guidelines that are throttling typical revenue. Although business owners and their employees may both be struggling to remain financially secure, there are a number of financial resources…
A credit score is considered one of the most important aspects of a professional’s financial health. That number—FICO scores anywhere between 300 and 850, and rates from Poor to Exceptional—has a tremendous impact on an individual’s ability to borrow. Your credit score often contributes to other important factors in borrowing like amount, interest rate, and…
As Chief Credit Officer at Bankers Healthcare Group, I’ve spent over a decade analyzing the financing needs and behaviors of healthcare professionals. Based on that experience, I know that combining multiple high-interest debts into single loans not only helps doctors improve their credit scores. Selecting the right program at the right point in your career…