Siloans Short Term Loans


Published on

Published in: Economy & Finance, Business
1 Like
  • Be the first to comment

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Siloans Short Term Loans

  1. 1. Siloans ● Presentation on short term Loans Speakers: ● ● Martin Yon John Mint 13-10-12
  2. 2. Introduction ● ● Martin Yon – CEO web internet marketing John Mint – website owner, offering short term loans.
  3. 3. Loan in finances ● ● ● In finance, a loan is a debt evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time. Typically, the money is paid back in regular installments, or partial repayments; in an annuity, each installment is the same amount. The loan is generally provided at a cost, referred to as interest on the debt, which provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice any material object might be lent.
  4. 4. Why short term loans? ● ● Short term loans are a good way to increase capital One thing to consider when getting a term loan is whether the interest rate is fixed or floating
  5. 5. Characteristics ● Time to maturity ● Repayment Schedule ● Interest – APR ● Security
  6. 6. Benefits ● Fixed rate ● Variable rate – linked to base rates ● ● Repayment holidays – improve your cashflow by making no loan repayment or repaying only interest for a fixed term after drawing down your loan Repayment style – choose from capital and interest, capital only or interest only.
  7. 7. Benefits ● ● ● Repayment frequency – pick the frequency that suits you from monthly, quarterly, half yearly and yearly. Staged drawdown – save on interest costs and enjoy lower initial payments. Flexibility
  8. 8. Who can have a short term loan? ● You must be at least 18 years of age ● Have a job (or other regular source of income) ● You must have an active open bank account
  9. 9. Disadvantages ● ● ● Usually more expensive Not secured by collateral the lender raises interest rates to cover the risk Before giving you short term loans the lender is likely to investigate into your credit history and if it is excellent you will be offered lower APR – interest rates.
  10. 10. Thank you for your attention