LoanAway Blog

Life is hard and challenging, as a result, you may be struggling with finances. Going on vacation, buying new clothing, getting the newest car, or buying a house is something that you cannot do at the moment. You would think that people your age, like your friends, would be in a similar situation right? Nope. You see that they are currently on vacation, bought the best clothing brands, drive the newest car, or live in a nice home. “How?” you must be asking yourself when looking at their Instagram, Facebook, or Twitter. Before you get disappointed with your life, because you might not have everything they have, look at your social media profiles? Did you post when you were struggling or did you post only positive moments in your life? Only the positive you say? For all you know, they could have declared bankruptcy .  Read the article below to see why you shouldn’t be concerned about what others post on Instagram. Don’t bother wondering why your friends seem to have ...

Here at Loan Away , we care about our clients. We provide them with loans, financial advice, and resources to improve their situation. Our goal is to make sure the funds we provide our clients with helps them grow financially. This is why we have compiled a list of books we recommend you read to become wealthy. The CNBC has created a great list of six books that are considered the pillars of wealth . Loan Away has a book we personally recommend that are not on the list, that you should consider reading. Before we look at the list, there are somethings we should point out. These books are not going to “make you rich”. No book will. The information in the book is nothing but words, however, it is how you interpret the words can make you rich.  Those who find the meaning of the books and implement it will be more likely to be successful.  Now that we are the same page, let’s get onto the list!   6 books to read in 2018 if you want to get rich T...

The housing market is insane in Canada . The average home in Toronto and Vancouver cost over $1,00,000 in 2017. 20 years ago, it was less than half of today’s price. What happened? Easy. As more people come to Canada and the citizens already here are having kids, the population grows. Since Toronto and Vancouver have very little space to build more homes, the value of each condo or house increase. Simple supply and demand .  There are more factors to the housing market, but this is a simplified version that everyone can understand. This is great news if you own property in Toronto or Vancouver. Your investment increased! Now, if you’re a millennial , you are in a bad situation. You might have to pay twice as much as your parents did for the same home. Since millennials cannot afford to buy or rent in today’s housing market, they choose to live with their parents for a much longer time than previous generations or hey take out personal loans for a home they cannot afford. What...

Payday loans are short-term loans with very high interest. The interest can be as high as 500% in some cases. Scary. These loans seem like the only option for low-income Canadians , but there are more options now. Both the Provincial Government of Ontario and companies that provide loans for people with bad credit are aware of the payloan problem that some Canadian faced. The Provincial Governments across Canada are helping vulnerable low-income Canadians by changing the way payloan companies like CashMoney and Money Mart work. In 2017, Ontario decreased the fee for every $100 from $21 to $18. This was a great step towards helping Canadians who may need a small loans to pay a bill or for an emergency. Provinces with a high cost of living followed suit within months. This week, Ontario decided to lower the fee for every $100 from $18 to $15! As great as this is, will this really help low-income Canadians? How will this affect small business owners like Mr.Piet? You can read the article...

Have student debt? Most Canadians do. Canadians, especially Ontario post-secondary graduates, have some of the highest student debt in the world. Recently the Ontario Government has subsidized post-secondary for low and average income families. This is great for the for those who are preparing to attend post-secondary, but what about the people who have graduated already and have thousands of dollars of debt? According to the Provincial Government of Ontario , you are out of luck. You will have to pay off your debt in full while the next generation does not. Do not be completely discouraged. Here are some great tips to pay your student loans faster in 2018! Following this guide will bring you closer to financial independence and being debt free.  If you want a simple solution, debt consolidation can be a great option. Being debt free is a goal we all strive for, so let’s go over the top 5 tips to paying off your student debt!   Pay Off Your Studen...

If you have a bad credit and you need a quick loan and if you want only a small amount of loan for a very short time, you may consider payday loans for people with bad credit.  For bad credit loans Canada has many lenders for installment loans and payday loans that will give you a loan. Payday loans are very short-term loans granted for repayment by the next pay day. For example, if you want $500 loan, $1000 loan or $1500 loan quickly and only for a short time, you may want to apply for a payday loan. Payday loans are only given till a borrower receive their next paycheck. Therefore, the term of the loan will depend on how far away you are to your next pay check. Although a payday loan is granted till the next payday, it can be extended from the next payday to the one that follows and the one that follows. In other words, payday loans can be granted for up to 90 days. Anyone can apply for a payday loan but most people who go for payday loans are people on low income who find it...

The ease of getting credit is proportional to the borrower’s credit rating. The lower the credit rating gets, the more difficult it becomes to get credit. Banks ordinarily shy away from bad credit financing because of the risk involved. After all, nobody wants to be left holding a bad debt. However, there are institutions that do lend to bad credit people. Usually, these institutions will lend only up to $5000. Despite you bad credit history, getting a loan from these institutions should not be a difficult task. Some institutions are so customer friendly that they even offer 5000 loan no credit check. When private lenders advance credit to bad credit people , the lenders’ risk is high. Because of these they tend to seek a higher interest rate to offset the high risk they bear. For example, a 5000 loan with bad credit usually has a higher repayment load than a loan for the same amount from a normal bank. Financial institutions rely on a person’s credit score to evaluate the loan appl...

In case you have made the decision of stepping up into the world of property investment, you may have a bright future. However, finding a source to finance your project as a starter is the most critical of all steps. This applies, whether you plan to invest in single homes or wish to act as a landlord, you will definitely need a good deal of funding. This is where private money lenders can save your day. The one critical thing about investing in real estate is that it is completely different from buying a private property. Most people who invest, prefer to get their funding from private money lenders as it is far more affordable and allows great flexibility. Furthermore, it allows them to establish good business linkages and long-term collaboration in which the flow of benefits is two-sided. As one grows his/her investment business, both the investor and the private lending company happens to enjoy their share of benefits. Who are Private Money Lenders? Simply put, a private money ...