Film festival sponsors – Carolina Film And Video Festival Fri, 24 Jun 2022 17:53:39 +0000 en-US hourly 1 Film festival sponsors – Carolina Film And Video Festival 32 32 The dangers of living paycheck to paycheck, experts say Fri, 24 Jun 2022 15:12:10 +0000 Money / Financial Planning fizkes/Getty Images/iStockphoto In modern America, even the wealthy are struggling to get by. According to a study by Lending Club and PYMNTS, around 61% of the country – 157 million people – now live paycheck to paycheck. Among them are about 36% of high earners who earn more than $250,000 a […]]]>

fizkes/Getty Images/iStockphoto

In modern America, even the wealthy are struggling to get by.

According to a study by Lending Club and PYMNTS, around 61% of the country – 157 million people – now live paycheck to paycheck. Among them are about 36% of high earners who earn more than $250,000 a year.

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Whether you’re spending too much, earning too little, or a combination of the two, spending your life in a pay period of financial disaster is as dangerous as it is stressful.

If a single missed check could turn your life into chaos, now is the time to make a change. Here’s why.

It’s easy to fall into the debt cycle — it can be impossible to get out of it

Emergencies happen whether you have an emergency fund or not, and when you live paycheck to paycheck, borrowing money to meet unexpected expenses is often the only option. But borrowing out of desperation adds more pressure to an already precarious situation, which often requires even more borrowing to keep yesterday’s lenders at bay.

The end result is an endless cycle of toxic debt.

“In my twenties, I was living on paycheck while working as a cook,” said LGBTQ+ travel writer Lindsey Danis of “I was out of money at the end of the month, so every emergency, like a car repair or a vet bill, went to my credit card. A series of disastrous events nearly depleted my credit cards. credit and was the wake-up call I needed to quit cooking as a career and support my income through self-employment.

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When You’re Depressed, Bad Credit Has A Way To Keep You There

Just as the debt cycle is self-perpetuating when you live paycheck to paycheck, so is the weakened credit the cycle creates. The more your finances are overstretched, the more your credit score drops and the harder it becomes to progress by finding a new job or starting your own business.

“When I started my own business, I didn’t have a good credit history,” said Jessica Chase, loan and finance expert at Premier Securities Lending. “I was delaying my student loan payments and sometimes even dodging my credit card payments. This had an immense impact on my credit history, which led to my credit score dropping to less than 670.”

As a student, she didn’t fully understand the ramifications until she attempted to start her own business after graduation.

“I went to some banks, and guess what, they all rejected my request for a loan,” Chase said. “The only reason was my poor credit score.”

For those struggling to get by, the impact can be much more immediate than making entrepreneurs’ dreams come true.

A beaten credit score — so common among those who live paycheck to paycheck — can make it difficult to borrow money, disqualify you from all but the worst rates, and increase the likelihood of default. and, in the worst cases, disasters like bankruptcy, foreclosure, eviction and homelessness.

A little budget can create a lot of wiggle room

So if you’re living without a financial cushion, where do you start? Experts who spoke with GOBankingRates echoed advice from Charles Schwab and Forbes. First, create a budget and spending plan to identify trouble spots, eliminate waste, and increase savings.

“Take a look at your fixed expenses and see where you can make cuts,” said Simon Courtney, editor of Health Business Technology. “For example, you may be able to save money on your cable bill or by purchasing a more affordable car insurance policy. You can also try saving money on groceries by cooking at home more often and buying generics instead of branded items.

These small adjustments can quickly add up to a cushion of a few hundred dollars. It’s exactly the kind of respite people who live paycheck to paycheck need so that every blown alternator or every child in need of braces doesn’t result in a credit card swipe. or, even worse, a payday loan.

If you can break the cycle, life becomes so much better

Arvie Narido, writer and gift finder for Rabbit gift, is living proof of what there is to gain by breaking life’s chains from one paycheck to the next. For Narido, the release took the form of a side gig — and she can recount half a dozen ways a financial cushion changed her life.

“From a one-income household, my family became a two-income household because of my jostling, and we got great benefits from it,” Narido said. “I became financially independent from my husband. Before, we depended solely on his income and we lived from salary to salary. We have built up a good emergency fund for at least six months of our living expenses. We were able to allocate “fun money”, where we could buy ourselves non-essentials or dine out more at our favorite restaurants, something we hardly enjoyed when we were just a single income household.

It is important to periodically indulge in certain desires, but many other things are much more consequential.

“I was able to financially support my sick mother, who is recovering from cancer,” Narido said. “I was able to help pay for some hospital expenses and some medications without compromising our family budget. My child and I were able to get our own life and health insurance, which I have lost since quitting my job and becoming a full-time mother.

Living paycheck to paycheck also robs you of the ability to be generous to the people and causes you care about.

“Well, that may sound corny,” Narido said, “but because of my hustle, I’ve also been able to give back to my community by donating a portion of my earnings to a few local non-governmental organizations helping the homeless. shelter and children.”

More from GOBankingRates

About the Author

Andrew Lisa has been writing professionally since 2001. An award-winning writer, Andrew was previously one of the youngest nationally distributed columnists for the nation’s largest newspaper syndicate, the Gannett News Service. He worked as a business editor for amNewYork, the most widely distributed newspaper in Manhattan, and worked as an editor for, a financial publication at the heart of New York’s Wall Street investment community. .

I Got a Public Service Loan Forgiveness, Now What? Tue, 21 Jun 2022 21:00:14 +0000 courtesy of Getty Creative. Getty The past few months have brought some pretty catchy headlines and trends when it comes to our collective finances. These days, you can’t get far without running into a burning issue near and dear to many of us: student loan forgiveness. Earlier in the year, the US Department of Education […]]]>

The past few months have brought some pretty catchy headlines and trends when it comes to our collective finances. These days, you can’t get far without running into a burning issue near and dear to many of us: student loan forgiveness. Earlier in the year, the US Department of Education released figures on public service forgiveness loans which revealed that 70,000 borrowers qualified for nearly $5 billion in student loan relief, and other estimates predicted that up to 550,000 people could benefit, in total. If you’re qualified and your loans have been forgiven, it might be tempting to run out of cash and spend that wad of cash (hey, a splurge here or there might be in order), but if you’re looking to be smart with your money, my conversation with Mark Reyes, senior director of financial advice from alberta financial services technology company might be helpful to you, as it has some good suggestions.

Reyes says less than 5% who qualified and applied received student loan forgiveness and for them to get it there were criteria that had to occur to stay in good standing. “ The service is designed [for people working in] jobs that are not high paying and have an impact,” he says. “Loan forgiveness helps relieve them of the economic burden of their student loans.”

Mindfulness of the basis of loan forgiveness is crucial. Above all, you must remain qualified for this forgiveness. It’s important to remember that the landscape of personal student loan forgiveness has changed significantly over the past few years, according to Reyes. This means that you will need to stay informed and ensure that you are fully aware of what needs to be done to qualify and possibly receive this loan forgiveness. Typically, this includes re-certification, providing the correct documentation, and making consistent payments while waiting for your loan to be forgiven.

Here are some additional tips:

GW: Should borrowers do anything from a tax standpoint?

MR: Yes. If you are receiving student loan forgiveness, make sure you have a clear picture that provides an accurate understanding of any tax liabilities you may be responsible for. Keep in mind that under the American Rescue Act of 2021, the amount of student debt that is forgiven will not be federally taxed until the end of 2025, but some states may still consider it income. taxable. If you plan to receive the pardon after 2025, stay alert to any changes to how the pardon will be handled by the IRS and be prepared for that.

GW: Tell us about paying off toxic debt.

MR: What is toxic debt? Also called toxic loans or bad debts, toxic debts are less likely to be repaid to a lender. If you have high-interest credit card debt or other forms of toxic debt like a payday loan, it’s time to detox by making it a priority to pay off those debts as soon as possible. Toxic debt is very expensive to maintain and can prevent you from achieving greater financial goals.

GW: What can people do about planning their emergency fund?

MR: It’s important to start prioritizing financial wellness and having an emergency fund saved up of 3-6 months of non-discretionary spending is a mainstay of that. An easy way to accomplish this task is to automate your savings, so that a percentage of your paycheck is automatically deposited into a savings account. I highly recommend it.

GW: A lot of people are reluctant to set a budget. Do you have any advice?

MR: Budget doesn’t have to be a dirty word. In fact, a healthy budget is the backbone of financial well-being, according to Reyes. If you’re not sure where to start, it’s probably best to keep it very simple. Reyes generally recommends what’s called a “50/20/30 budget.” This is where 50% goes to essential expenses such as rent, insurance, essentials and food, 20% goes to savings and investing, while 30% goes to everything you desire.

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GW: So can we call that 30% the You Only Live Once (YOLO) bucket? How many YOLOs can we make?

MR: This YOLO bucket is crucial for your enjoyment of life. It’s for whatever you want. If you stay in the 30%, it doesn’t matter what you do with it as long as you can stick to that 30%. You don’t have to YOLO every night. You can YOLO some.

GW: What about investing for retirement?

MR: Paying yourself first is crucial, as is paying yourself in the future. Retirement, that distant light at the end of the proverbial tunnel, will come knocking sooner than most of us realize, and the financial news surrounding our prospects for group retirement isn’t always great. Once you have a sound financial foundation (no toxic debt, a solid emergency fund, some wiggle room in your budget/no overspending), start investing for your retirement. Generally speaking, a good goal is to contribute 10-15% of your income, but if you can maximize your retirement account, [that’s] better.

GW: Thank you for your time.

More and more students are taking training in personal finance. But is it enough? Sun, 19 Jun 2022 10:32:31 +0000 Image source: Getty Images According to the S&P Global Financial Literacy Survey, 43% of Americans lack financial literacy — and gaps in financial knowledge can lead to chronic money problems. In 2018, only 16.4% of American high school graduates received a personal finance education. The number has now risen to around one in four high […]]]>

Image source: Getty Images

According to the S&P Global Financial Literacy Survey, 43% of Americans lack financial literacy — and gaps in financial knowledge can lead to chronic money problems. In 2018, only 16.4% of American high school graduates received a personal finance education. The number has now risen to around one in four high school students (22.7%).

As more states make financial education a mandatory part of the high school curriculum, Next Gen Personal Finance estimates that at least one-third (35.1%) of high school students will have taken a course autonomy over personal finances. That still leaves two out of three high school students without the education they need to be financially capable.

More states are implementing personal finance requirements

Currently, only eight states require high school students to take a personal finance course: Alabama, Iowa, Mississippi, Missouri, North Carolina, Tennessee, Utah, and Virginia.

Five more states are beginning to implement personal finance education at the high school level. Personal finance education is defined as a stand-alone personal finance course that lasts at least one semester or 60 consecutive hours of instruction.

Michigan recently passed a bill that would make it the 14th state to guarantee high school students a personal finance course before graduation. Momentum has grown this year, with 26 state legislatures introducing 60 different bills to expand access to personal finance education.

The importance of personal financial education

Personal finance education directly helps people improve their financial well-being. Those with higher financial literacy are less likely to face financial hardship. Those with low financial literacy are:

  • Six times more likely to have difficulty making ends meet.
  • Five times more likely to be unable to cover a month’s living expenses.
  • Four times more likely to spend more than 10 hours a week thinking about or dealing with personal finance issues.
  • Four times more likely to be dissatisfied with their current financial situation.

Studies also show that personal financial education reduces the likelihood that young adults will use payday loansand is positively correlated with asset accumulation and net worth at age 25. credit scores.

The Next Gen Personal Finance annual report found that access to personal finance education is still divided based on location, race, and socioeconomic status. Across the country, students do not have equal access to personal finance education. Expanding personal finance education across all segments of society can help close the socio-economic gap and help more people build their savings accounts.

The vast majority of millionaires haven’t inherited their money or earned six-figure incomes. Financial success often hinges on using basic personal finance principles, such as investing regularly and consistently over a long period of time, not going into debt, and sticking to a budget. Financial education is the key to financial success and can help develop good habits for the future.

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Personal loan ads on social networks Sun, 12 Jun 2022 00:07:08 +0000 The past few years have been difficult for many Americans. Unfortunately, trying to stretch every dollar to buy basic necessities has become the norm. Some might consider a second or third job to pay the bills. This is precisely the type of person that payday loans target. Promising quick cash without telling the full story […]]]>

The past few years have been difficult for many Americans. Unfortunately, trying to stretch every dollar to buy basic necessities has become the norm. Some might consider a second or third job to pay the bills.

This is precisely the type of person that payday loans target. Promising quick cash without telling the full story of loan costs, these ads have been popping up on social media platforms like TikTok.

Read on to find out how these companies are bending the rules and why taking a payday loan is bad.

Here is the backstory

All social media platforms have advertising as it is the main way to generate profit. But some sites are not as strict about ad content as others. For example, TikTok claims to have a policy against “exaggerated performance or promises”.

Yet, there are many payday loan messages that target vulnerable users. According to Media Matters for Americathree companies systematically violate TikTok’s advertising policies by promoting payday loans.

Promising instant cash, posts by Earnin, Brigit and Albert target those in need of quick cash with phrasing such as “living paycheck to paycheck” or always being “broke”. It is unclear how advertising is allowed to be on the platform.

TikTok Payday Loans
Credit: Media Matters for America

But Earnin is no stranger to controversy. The company settled a $12.5 million lawsuit three years ago for deceptive lending practices. Brigit and Albert are also not registered with the Better Business Bureau (BBB), as some users claimed there were unexpected charges or missing deposits.

What can you do about it

It may seem like a lucrative opportunity to get some quick cash in your wallet, but there will always be a catch. The interest rate will be exorbitant, and they don’t call it often. Some advertisements will use words such as “fee” or “tip” without mentioning the interest rate.

According to the Consumer Financial Protection Bureau, a two-week payday loan with a $15 fee to borrow $100 gives you an annual percentage rate of 400%. That’s way more than the typical 30% for a high-interest credit card.

It may leave you in a cycle of debt, but according to the BBBthere are safer alternatives to payday loans:

  • Build a budget with an emergency fund. Create a budget so you know how much money you receive and how much you need to pay your bills. This will help avoid needing a loan in the first place. Then set aside money each month to build an emergency fund. You will be covered even if an unexpected expense or emergency occurs.
  • Get credit advice. Get credit counseling if you find yourself unable to pay your bills or caught in a cycle of debt due to a high-interest loan. The US Department of Justice has a list of agencies for people looking for debt reduction help. Also see BBB’s advice on credit counseling for more resources.
  • Shop for loans. Compare interest rates, fees and late fees by reading the fine print before choosing a lender. Pay close attention to interest rates and loan rollover fees. Credit unions are a great place to get a small loan with reasonable interest rates. Even credit card cash advances, which typically have double-digit interest rates, likely have lower interest rates than those offered by a payday lender.
  • Contact your creditors if you cannot pay on time. If you realize you won’t be able to make a payment on time, don’t panic. Contact the creditor directly. Many creditors are willing to work with you to design a payment plan you can afford.

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EMEA Daily: EU unveils new BNPL rules Fri, 10 Jun 2022 17:33:31 +0000 In today’s major stories from Europe, the Middle East and Africa, the European Union is preparing new Buy Now, Pay Later (BNPL) rules that would reduce their transparency requirements. In addition, the Bank of England distributes a bulletin to lenders on their plans for bank failure, and Moroccan Chari acquires the Diago retail application. EU […]]]>

In today’s major stories from Europe, the Middle East and Africa, the European Union is preparing new Buy Now, Pay Later (BNPL) rules that would reduce their transparency requirements.

In addition, the Bank of England distributes a bulletin to lenders on their plans for bank failure, and Moroccan Chari acquires the Diago retail application.

EU Council Amendments to Consumer Credit Bill Favor BNPL Providers

The Council of the EU has agreed to revise the Consumer Credit Directive (CDD), with new rules that could reduce transparency requirements for BNPL providers.

The existing CCD, introduced in 2008, covers most consumer loans, ranging from €200 to €75,000 in value.

However, loans below €200 fall outside its scope, which means that most BNPL loans are not covered by the existing rules. The proposed amendment would change this by including BNPL schemes, payday loans, short-term overdrafts, interest-free credits and loans provided by crowdlending platforms.

BOE: UK banks must show they can fail ‘safely’

Three of the UK’s biggest lenders still have work to do to prove they could fail without harming customers and taxpayers, the Bank of England (BOE) has announced.

The BOE carried out an assessment to determine whether HSBC, Lloyds Banking Group and Standard Chartered had made the right preparations to manage their – theoretical – collapse.

The regulator made it clear that while there were many areas where lenders could improve, they could potentially fail while “staying open and continuing to provide vital banking services to the economy”.

Moroccan Chari buys the Diago application

Moroccan B2B e-commerce platform Chari has purchased Diago, a retail app headquartered in Ivory Coast.

The all-stock deal will keep Diago founders, Amidou Diarra and Ali Ouattara, as the company’s managing director and CEO, with the founders overseeing local business growth before branching out into other sub-Saharan African countries. .

“The entire Diago team will benefit from the full support capabilities of Chari,” said Cyrille Jacques, Vice President of Chari, who leads the company’s international expansion. “Chari’s back office in Casablanca will help the Diago team in setting up operations, IT tools and customer service.

UK Government Pushes For Crypto Sandbox And Stablecoin Regulation

In a bid to become a global “crypto hub”, the UK is gearing up to start testing crypto-blockchain technology in financial market activities like trading and settlement.

The country’s Department of Finance said the UK is taking a number of steps to promote the use of blockchain and crypto assets, and creating a friendly regulatory environment to attract investors.

Gwyneth Nurse, the department’s chief financial services officer, said the use of distributed ledger technology (DLT), the underlying technology used by crypto assets, is a critical priority for innovation in financial markets. . That’s why the UK is set to launch a regulatory sandbox in 2023 to test DLT projects.

CEO of MFS Africa: Prepaid cards open up a world of online payments to millions of people in Africa

The ability to make transparent international payments varies from place to place, an imbalance that payment company MFS Africa wants to correct.

Speaking to PYMNTS, Founder and CEO of MFS Africa, Dare Okoudjou, said that one of the ways his company is trying to solve the problem is by acquiring US FinTech Global Technology Partners (GTP) to provide access to global companies like Netflix and Amazon which millions in Africa lack the card credentials to transact online.

The deal will allow consumers and merchants in the region who store money on mobile phones or digital wallets to get a prepaid virtual card to make seamless card payments to these global businesses that have eluded them until now. ‘now.

FLEETCOR acquires British group Global Reach, provider of cross-border payments

Global merchant payments company FLEETCOR Technologies to acquire Global Reach Group, a UK-based cross-border payments provider

FLEETCOR says the deal will help it boost its cross-border payments capabilities, with the sale expected to close in the fourth quarter of the year.

“Global Reach is a fantastic addition to our existing cross-border operations that can be quickly integrated into our global operations,” said Ron Clarke, President and CEO of FLEETCOR. “We expect the deal to be immediately accretive after closing with additional synergies to be added in year two.”



About: PYMNTS’ survey of 2,094 consumers for The Tailored Shopping Experience report, a collaboration with Elastic Path, shows where merchants are succeeding and where they need to up their game to deliver a personalized shopping experience.

What credit score do you need for a personal loan? Wed, 08 Jun 2022 15:55:14 +0000 Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. The credit score you need for a […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

The credit score you need for a personal loan varies by lender. But to get the best interest rates, you’ll generally need good to excellent credit. (Shutterstock)

A personal loan is a useful financial tool when you need to borrow money to cover almost any expense, such as car repairs, home renovations or medical bills. When you apply for a personal loan, you must meet the lender’s credit requirements. Having good to excellent credit will usually get you the lowest interest rates, but some lenders specialize in bad credit personal loans.

Learn more about the credit score you need to qualify for a Personal loan, why your credit score matters and what to consider when comparing personal lenders.

Credible, it’s easy to view your prequalified personal loan rates from various lenders who offer loans for a wide range of credit scores.

What credit rating do you need to qualify for a personal loan?

Each lender has their own credit score requirements for a personal loan. For this reason, it is probably possible to find a personal lender who will give you a loan, regardless of your credit rating.

But you usually need at least a good credit score to get a personal loan with a decent interest rate and loan terms. The higher your credit score, the better your interest rate will be and the more loan options you will have available.

Most lenders use the FICO credit scoring model to determine if they should approve you for a loan. Here’s how FICO breaks down credit score ranges:

Why is your credit score important when applying for a personal loan?

Credit scores are three-digit numbers that represent your credit history, which are recorded on your credit reports from each of the three major credit bureaus – Equifax, Experian and TransUnion. The higher your credit score, the more likely a lender is to lend you money. Because having a higher credit rating makes you more likely to repay your loan in the eyes of the lender, they tend to offer the best interest rates and loan terms to borrowers with good credit ratings.

If you have a low credit score, you will need to do a little more work to find a lender who will offer you a personal loan. Some lenders will approve you for a loan even if you have a bad credit score or lack of credit history. But you’ll likely pay a higher interest rate for a loan than someone with good or excellent credit.


Factors that affect your credit score

The following factors interact to determine your credit score:

  • Payment history – It’s the most important factor in determining your credit score, accounting for 35% of your score. When you pay your credit card and bills on time each month, you improve your credit score. If you make late payments or miss payments so much that you can’t repay a loan, it can hurt your credit score.
  • Credit utilization rate — Your credit utilization rate represents the amount of available credit you are using and represents 30% of your FICO score. The lower your credit utilization ratio, the more your score will benefit. Ideally, you want to keep this ratio below 30%.
  • Length of credit history — If you can establish a credit history from a young age, you’re on the right track. The longer your credit history, the more likely your credit score will benefit. Keeping an old credit account open, even if you don’t use it often, can help you maintain a longer credit history.
  • Composition of credit — Having a diverse combination of credit products in your name, such as a student loan, credit card, and car loan, can help show lenders that you’re capable of handling and repaying multiple types of debt at once.
  • New credit — Applying for or opening too many new credit accounts in a short time can scare off lenders, as it indicates that you may need to borrow money to get by. If you are considering applying for a personal loan, try to avoid applying for new forms of credit in the months leading up to your loan application.

You can compare personal loan rates on the Credible platform, and it will not affect your credit score.

Can you get a personal loan if you have bad credit?

Yes, you can get a personal loan if you have bad credit. Some lenders even specialize in bad loans.

Consider a peer-to-peer lender who accepts a lower credit score and instead focuses on work and educational history when deciding whether to lend you money. If you belong to a credit union, it may have looser borrowing criteria than some major banks or financial institutions.

If you’re having trouble getting approved for a personal loan on your own, you can apply with a co-signer who has good or excellent credit. Adding a co-signer to your loan application can make it easier to qualify for a personal loan and help you get a lower interest rate.

How a personal loan can affect your credit score

Taking out a personal loan can affect your credit score in different ways :

  • Improves your credit mix — Taking out a personal loan can help you improve your credit mix.
  • Creates a payment history — As long as you repay your personal loan on time, you will strive to establish a positive payment history.
  • Create a challenging investigation — When you apply for a personal loan, the lender will check your credit with a firm credit check. This can negatively affect your credit score, but it will usually rebound after a few months.


What about loans without credit check?

Loans without credit check are a type of loan designed for those with bad credit or without an established credit history. Since these loans do not require a credit check, lenders compensate for the risk they take by charging high interest rates or additional fees. Loans without a credit check may be easier to obtain than traditional personal loans, but this ease of eligibility comes at a high cost.

Payday loans and title loans are two types of loans that do not require good credit ratings. These small, short-term loans come with fees that can amount to exorbitant annual percentage rates (APRs) of nearly 400%, according to the Consumer Financial Protection Bureau. These loans can trap you in a cycle of debt and should only be considered as a last resort.

What should you consider before choosing a personal lender?

Regardless of your credit score, you’ll want to consider the following factors when comparing different loan options:

  • Interest rate – The higher the interest rate, the more you will pay over the life of the loan. See which lender can offer you the lowest interest rate.
  • Repayment period – The length of a repayment term can affect the amount of your monthly payment. Although shorter repayment terms can help you save on interest, they usually come with higher monthly payments. Make sure the lender you choose can offer repayment terms that fit your budget.
  • Amount of the loan – It’s important to borrow only what you need so you don’t pay interest on unnecessary funds. Find a lender who will lend you the full amount you need.
  • Costs – All lenders charge fees differently. Ask each lender you’re considering what fees you’ll have to pay, such as origination fees for processing the loan or prepayment penalties for repaying the loan earlier than expected.
  • Co-signer option — Not all lenders allow co-signers on personal loans. If you want to apply for a co-signer to improve your chances of qualifying and help you get a better interest rate, you’ll need to find a personal lender that allows co-signers.

How to apply for a personal loan

Different lenders have different application processes, but when you apply for a personal loan, you can generally expect to go through the following steps:

  1. Compare lenders. Before you apply for a personal loan, get prequalified with different lenders and compare each to see which one can offer you the best personal loan for your needs.
  2. Choose a loan option. Once you find a lender, you can choose which of their loan products you want to apply for.
  3. Complete the application. When applying for a personal loan, you will need to provide personal and financial information, such as documents proving your identity, employment status, and income.
  4. Get your funds. If you are approved for a loan, the lender will disburse the funds, usually by direct deposit to your bank account.
  5. Start making payments. Once you receive your loan funds, you will begin making your regular payments (usually monthly) until you repay the loan in full according to your repayment term.

If you’re ready to apply for a personal loan, visit Credible for quick and easy compare personal loan rates from various lenders in minutes.

Small Business Restaurant Improvement Loans Mon, 06 Jun 2022 22:32:31 +0000 If you’re a business owner in the restaurant industry, you understand the importance of keeping your restaurant up to date to be successful. Whether you’re opening a new restaurant, establishing a new location, or renovating an existing restaurant, a restaurant improvement loan and other financing options can help. Some financing options include: Traditional bank loans […]]]>

If you’re a business owner in the restaurant industry, you understand the importance of keeping your restaurant up to date to be successful. Whether you’re opening a new restaurant, establishing a new location, or renovating an existing restaurant, a restaurant improvement loan and other financing options can help.

Some financing options include:

  • Traditional bank loans
  • Business line of credit
  • Equipment loans
  • Commercial real estate loans
  • Merchant Cash Advance
  • Small Business Administration (SBA) Loans

This article explains your financing options and how they can help your restaurant business.

Why would someone need a restaurant improvement loan?

As restaurateurs, keeping your restaurant open and profitable is the most important thing. So it is good to understand why you would need a restaurant improvement loan for your business. Here are four reasons:

1. Buy inventory

A restaurant improvement loan can help you avoid breaking the bank on everything from bar stools, tables and chairs to other must-have restaurant equipment. With a loan, small business owners can focus on creating the best environment for their customers that matches their business needs. Also, inventory can extend to kitchen equipment like ovens, food prep counters, or food processors, which are very expensive and you don’t want to pay for with your personal funds or put on your score. personal credit.

2. Renovations

Another reason you might need a restaurant improvement loan is to renovate your restaurant. Renovations can include:

  • Installation of new flooring
  • Updated seat cabins
  • Bathroom upgrades
  • Installation of new light fixtures
  • Paint the interior and exterior

There are many reasons why you would want to renovate and keep your restaurant up to date, especially in a social media generation where people value aesthetics. A restaurant improvement loan can bring you much closer to your goal of having a restaurant with rave reviews.

3. Implement new technologies

Technology is constantly changing, so whether you need an updated point-of-sale (POS) system or you’re infusing your restaurant business with mobile technology and online ordering, you may need funds. additional. Brick-and-mortar businesses are constantly changing the way they serve their customers, so finding a lender who can provide you with the financing to scale your restaurant can help you scale.

4. Marketing and Advertising

Restaurant improvements can also include how you get the message across to your customers. Marketing and advertising are key tools for retaining repeat customers, attracting new ones, and keeping your business profitable. However, marketing and advertising online or elsewhere can be quite expensive and having funding options that increase cash flow can help you acquire the right amount of marketing needed to keep your business running.

Types of Catering Business Loans

These types of restaurant business loans are the ones you should consider:

Equipment loans

Equipment financing is specifically designed to get you the new or updated equipment your restaurant business needs. You have the option of securing the necessary financing to purchase or lease the equipment. Alternatively, you may decide to pursue a sale and leaseback agreement, in which you sell the equipment to a lender in exchange for cash and then lease the equipment from the lender. You have the option of returning the equipment at the end of the term or purchasing it from the lender.

Working capital loans

A working capital loan is money you borrow for the day-to-day running of your business. Working capital loans pay for a business’s short-term needs and expenses instead of investments or assets that will be held longer. This is a small business loan that could come in handy if your business finds itself in a difficult financial situation. Rather than long-term investments, short-term financial goals are the main focus of this type of business financing.

Merchant Cash Advance

Compared to other forms of financing, such as conventional bank loans, merchant cash advances offer a unique opportunity for small businesses. Business owners get financing in the form of an upfront lump sum from a merchant cash advance provider. The owners then repay the advance using a percentage of the business’s future sales. An MCA can be an alternative for businesses that have a high number of credit card sales, are in dire need of capital, or don’t qualify for a conventional loan.

Bank loans

Other financing choices, such as credit cards, payday loans, or short-term loans from internet lenders, often carry higher interest rates than those offered by traditional bank loans. Also, if the lender discloses payments made to commercial credit bureaus, you can improve your business’ creditworthiness if you make your payments on time.

When you have questions about your loan or other financial products that could benefit your business, you can speak to a professional banker or loan officer located at a local branch of many banks for assistance. . This service is offered by many banks.

When to Apply for Restaurant Improvement Funding

Having a business plan can help you determine the longevity of your business growth, especially with financing. Knowing when to apply for restaurant improvement financing can have a positive effect on your working capital and can also help you buy equipment, do renovations, and more.

Here are important times in your business when you should consider applying for restaurant improvement financing:

  • Opening a new location
  • Low season
  • When your credit score is high
  • If you need more inventory
  • To afford additional equipment
  • Make essential renovations

Depending on the length of your business or your restaurant’s volume of business, this may dictate when you should apply for financing. In the end, needing it and not having the extra funds is worse than having it and being ready to make the changes necessary for your business to grow and succeed.

How to Improve Your Chances of Funding Approval

There are many facets to improving your chances of being approved for funding, but it is absolutely essential and doable. Whether you are a new business or have bad credit, you always have options. Here are ways to improve your chances of getting your seed funding approved:

  • Build your business credit score. When seeking financing for any loan amount, it is good to have established credit for your business. As a borrower, you don’t want to run the risk of sacrificing your personal credit, so establishing an EIN against a social security number will help your application process strictly through your business name. Nav offers a tool here to better understand your business credit score.
  • Increase your income. One of the best ways for lenders to ensure that you have the ability to repay a loan is to show your financial statements. With lower incomes, you may benefit from loan options with higher interest rates or only short-term loans requiring faster repayment terms.
  • Bring in a co-signer. Depending on the type of loan, if your credit isn’t the best, bringing in a trusted co-signer who has better credit and income can also improve your chances of approval. A co-signer on your loan application could also be someone related to your restaurant business, as they will have the same responsibility for repaying the loan.

Best Loans for Restaurant Improvements

If you’ve ever started your search for a loan, you know there is a seemingly endless number of lines of credit and small business loans available from banks and online lenders. Since new businesses are perceived to have a higher level of risk, the opportunities available to them will be more restricted. However, check out the loan deals Nav has for all small businesses.

Ultimately, whatever loan products, small business loans, or other type of financing you choose for your restaurant business, Nav is here to help. With Nav’s resources and loan matching tool, you can receive the business financing that best suits your business needs. From how to establish business credit to offering a comprehensive list of business credit cards to ensure you get the best restaurant financing options, the choice is yours.

This article was originally written on June 6, 2022.

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]]> The Web 3.0 Future Reviews (ASK Method Company) Ryan Levesque Quiz Funnel Fri, 03 Jun 2022 21:16:45 +0000 The Ask Method Company has launched an online event called The future of Web 3.0. During the free 5-day symposium scheduled for June 6-10, 2022, The Ask Method Company explains how your digital business can prepare for web 3.0. What is the future of Web 3.0? Should you attend The Web 3.0 Future webinar? Keep […]]]>

The Ask Method Company has launched an online event called The future of Web 3.0.

During the free 5-day symposium scheduled for June 6-10, 2022, The Ask Method Company explains how your digital business can prepare for web 3.0.

What is the future of Web 3.0? Should you attend The Web 3.0 Future webinar? Keep reading to find out everything you need to know about this online event.

What is the future of Web 3.0?

The Future of Web 3.0 is a free 5-day online event scheduled for June 6-11, 2022 at 4 PM EST.

Each day of the event, The Ask Method Company covers a new aspect of Web 3.0 and how Web 3.0 applies to your business.

The Ask Method Company will provide practical advice you can use to prepare your digital business for Web 3.0.

Web 3.0 is already here, and companies that don’t act now risk falling behind. Your competitors are already taking advantage of Web 3.0 technologies. During The Web 3.0 Future, you can learn some of the best practices to prepare your digital business for Web 3.0.

Topics covered during the Future of Web 3.0

The five-day event covers different topics each day. Every day a new expert explains a new aspect of web 3.0. By the end of the 5 days, you should have a better understanding of how Web 3.0 works, how it impacts your business, and how your business can adapt to Web 3.0 by making certain changes today.

Here are the topics discussed during each of the five days of the online event:

Day 1 (Monday June 6, 2022): Web 3.0 Traffic: Efficient lead generation in the world without cookies: iOS 14 was a game-changer for online advertisers as it included native cookieless technology by default, making it harder for advertisers to track users across the internet. In this webinar, Trey Sheneman (Marketing Director of Ask Method Company) explains techniques you can apply to your business today.

Day 2 (Tuesday, June 7, 2022): Web 3.0 Product: How Blockchain Will Disrupt More Than Money: Blockchain technology is not limited to cryptocurrencies. In this webinar, Lee Richter (CEO of the Global Leaders Collective) simplifies blockchain technology and explains how it can power your business. Businesses that use crypto, NFTs, and tokens in the right way today can get a head start.

Day 3 (Wednesday, June 8, 2022): Web 3.0 Email and Tracking: How Marketing Needs to Evolve to Track: In this webinar, Landon Ray (Founder and CEO of ONTRAPORT) discusses how open rates are no longer the standard measure of email campaign success. iOS 15 has targeted email performance, and email marketers need to change their game. Landon explains how to craft a winning game plan moving forward.

Day 4 (Thursday, June 9, 2022): Changing laws and how to use privacy as a strategic advantage: The United States lags behind most countries in the world when it comes to data privacy. However, things are changing. In this webinar, Jodi Daniels (Founder and CEO of Red Clover Advisors), discusses how changing data privacy laws will affect your business. More than half of all US states have data privacy legislation, and smart businesses need to make adjustments today.

Day 5 (Friday, June 10, 2022): Why standard marketing funnels won’t work in the age of Web 3.0: Marketing funnels have been a mainstay of digital marketing for decades. However, they will not work in the Web 3.0 realm. One-size-fits-all funnels are a thing of the past. In this webinar, Ryan Levesque (Founder and CEO of Ask Method Company and explains how to use a personalized approach to funnels built on zero-party data to ensure the success of your marketing campaigns.

After the five-day event, marketers will have a better idea of ​​how Web 3.0 will affect their business, how to act today, and how to ensure you remain a marketer as technology laws change. and privacy continue to change.

The Future Pricing of Web 3.0

The future of Web 3.0 is free for everyone.

Simply enter your name and email address in the online formand you will receive a free link to the live webinar on the day it is scheduled to take place.

What’s the catch?

There is no “catch” in the future of Web 3.0 being free. It’s legitimately free for everyone to attend, and you don’t need to buy anything to attend the webinar.

The purpose of the webinar is to demonstrate the value of The Ask Method Company’s other products and services, including masterclasses, certification programs, and coaching services. However, you are not obligated to purchase these services after attending The Web 3.0 Future webinar.

When is the future of Web 3.0?

The Future of Web 3.0 is scheduled for June 6 to June 10, 2022.

The five-day event consists of a new webinar each day. You will receive a link to each webinar before it airs.

Each daily webinar airs at 4 p.m. ET, 3 p.m. CT, or 1 p.m. PT.

What is Web 3.0?

Web 3.0 is the third generation of Internet services, websites and applications.

People have different definitions of Web 3.0. However, some of the common traits of Web 3.0 technology include:

  • Web 3.0 focuses on using machine-based data understanding to deliver a semantic, data-driven web
  • The goal of Web 3.0 is to create smarter, more connected and more open websites.
  • Web 3.0 involves AI, machine learning, semantic web analytics, and more.
  • Web 3.0 implements virtual assistants and an increasingly AI-integrated world
  • Web 3.0 is increasingly integrated with the Internet of Things; it involves the use of smart devices to predict user behavior, provide them with the results they need, and understand their online browsing and shopping habits

To understand where Web 3.0 came from, it helps to understand Web 2.0 and Web 1.0. Web 1.0 was the first generation of the Internet, with basic websites and connectivity as businesses explored the new technology. Web 2.0 was the rise of social media and growing connectivity. And Web 3.0 is increasingly emphasizing AI, machine learning, and smart technology to make internet technology even better.

About Ask Method Company

The Ask Method Company is a registered trademark of RL & Associates, LLC. The company has been a 5-time winner of the Inc. 5000 Fastest Growing Company award (2017, 2018, 2019, and 2021 for and The Ask Method Company).

The Ask Method Company is based in Austin, Texas, with team members around the world.

You can contact The Ask Method Company via:

  • E-mail:
  • Call: 1-844-KICK-ASK (1-844-542-5275)
  • Address: 4500 Williams Drive, Suite #212-311, Georgetown, TX 78633, USA

In addition to offering webinars, The Ask Method Company offers masterclasses, coaching, certifications, and online training tools, among other products and services.

The Ask Method Company and were founded by Ryan Levesque.

Last word

The Ask Method Company has launched a 5-day online event called The Web 3.0 Future.

Web 3.0 is here, and it’s becoming more and more relevant for marketers every day. During The Web 3.0 Future, you can learn actionable strategies you can implement today to use Web 3.0, leverage Web 3.0 technology, and maximize marketing success in the age of Web technology. 3.0.

To learn more about the future of Web 3.0 or to attend the free five-day online event today, visit the official site at >>>


Affiliate Disclosure:

Links in this product review may result in a small commission if you choose to purchase the recommended product at no additional cost to you. This serves to support our research and writing team. Know that we only recommend high quality products.


Please understand that any advice or guidance revealed here does not even remotely replace sound medical or financial advice from a licensed healthcare provider or certified financial advisor. Be sure to consult a professional doctor or financial advisor before making any purchasing decisions if you are using any medications or have any concerns from the review details shared above. Individual results may vary and are not guaranteed as statements regarding these products have not been evaluated by the Food and Drug Administration or Health Canada. The effectiveness of these products has not been confirmed by the FDA or Health Canada approved research. These products are not intended to diagnose, treat, cure or prevent any disease and do not provide any type of enrichment program. Reviewer is not responsible for pricing inaccuracies. See the product sales page for final prices.

New laws and more affordable lenders could shake up the payday loan market Tue, 31 May 2022 09:01:00 +0000 Inflation has particularly affected people who are already struggling to fit gas in their tanks and groceries in their refrigerators. For many, a payday loan may seem like the only way to get the money needed. In recent years, however, as more states impose restrictions on risky short-term lending, new lenders have emerged offering small, […]]]>

Inflation has particularly affected people who are already struggling to fit gas in their tanks and groceries in their refrigerators. For many, a payday loan may seem like the only way to get the money needed.

In recent years, however, as more states impose restrictions on risky short-term lending, new lenders have emerged offering small, lower-cost loans, making it easier than ever before to find a loan. an affordable loan that won’t drag you into unmanageable debt. .

In some states, new laws mean better loans

There is currently no federal law for maximum interest rates on small dollar loans; instead, states decide whether to cap payday loan rates. Therefore, the cost to borrow a few hundred dollars often depends on where you live.

In recent years, four states — Colorado, Hawaii, Ohio and Virginia — have passed laws that effectively reduce the cost of small loans and give borrowers longer repayment terms. A study by The Pew Charitable Trusts published in April found that even under the reforms, payday lenders were still operating, but with more secure loans.

Also Read: More US Subprime Borrowers Are Missing Their Loans

Although some new lenders began doing business in these states once the laws took effect, the main impact was that existing payday lenders consolidated their storefronts and made their loans more affordable, says Alex Horowitz, director of research at Pew.

National banks and local credit unions step in

A bank or credit union may not have been your go-to for a small loan in the past, but it could be today.

Seven major banks have started offering or announced plans to offer small-dollar borrowing options with low annual percentage rates in recent years, Horowitz says, including Bank of America BAC,
Wells Fargo WFC,
and Truist TFC,
These loans are available to existing bank customers nationwide, regardless of state interest rate limits.

Banks primarily rely on customers’ bank history rather than their credit scores to determine if they qualify for a small loan. The loans – which start from $100 – are usually repaid in monthly installments at annual interest rates no higher than 36%, the maximum rate an affordable loan can have, according to consumer advocates.

“The fact that banks start offering small loans could disrupt the whole payday loan market,” says Horowitz.

Local credit unions have membership requirements and maintain lower profiles than payday lenders, so they’re often overlooked by people who need cash fast, says Paul Dionne, director of research at Filene, a think tank that focuses on helping credit unions serve their communities.

But if you can walk to your local credit union, chances are you’ll qualify for membership, he says.

This is because credit unions often serve people who live or work in their communities. These organizations are working to provide financial inclusion by tailoring their products, like loans, to better meet the needs of their customers, Dionne says.

“Credit unions are getting better at having the best product and not saying no and figuring out what’s the best fit for that person coming in,” he says.

Lily: CFPB closes payday lender it calls venture capital ‘darling’

Other Borrowing Options

Even in states where laws seek to ban payday loans altogether, people can find alternatives to risky borrowingsays Charla Rios, researcher on small-value loans and debt at the Center for Responsible Lending.

You may be able to work out a payment plan with your utility company or borrow from a friend or family member, she says. Here are some borrowing options to consider before getting a payday loan.

Payday advance. Some companies, including Walmart WMT,
and Amazon AMZN,
allow their employees to access a portion of their paycheck earlier as benefits. It can be an interest-free way to borrow money if your employer offers it, but since the repayment comes from your next paycheck, it’s best to use it sparingly.

Cash advance applications. Apps like Earnin and Dave let you borrow a small amount of money, usually $25 to $200, before payday. They sometimes charge a fee for instant access to your money or ask for voluntary tips. They also take reimbursement from your next paycheck.

“Buy now, pay later.” For necessary expenses, a “buy now, pay later” loan allows you to purchase an item with partial payment only. You pay the balance in equal installments, usually over the next six weeks. This type of financing can be interest-free if you pay the full balance on time.

Low interest installment loans. Depending on your credit score and income, you may qualify for an installment loan with an APR below 36%. These loans have amounts ranging from $1,000 to $100,000 and are repaid over longer terms, usually two to seven years. Online lenders who often offer loans for bad credit prequalify you for a loan using a soft credit pull, which allows you to compare loans without affecting your credit score.

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Annie Millerbernd writes for NerdWallet. Email:

The 7 main steps to prevent loan application fraud Mon, 23 May 2022 14:49:54 +0000 As more people access the Internet and more websites emerge, hackers have more opportunities. Loan application fraud has been one of the most common scams over time. This fraud, which consists of stealing personal information from people and using it to obtain a loan, has already had devastating consequences for organizations, businesses and individuals. As […]]]>

As more people access the Internet and more websites emerge, hackers have more opportunities.

Loan application fraud has been one of the most common scams over time.

This fraud, which consists of stealing personal information from people and using it to obtain a loan, has already had devastating consequences for organizations, businesses and individuals.

As a result, many businesses are already battening down the hatches and looking for ways to protect themselves and their customers.

Keep reading if you find yourself in this situation. We’ll go over the top seven ways to prevent loan application fraud in this article.

Let’s start.

Understanding credit fraud: what is it?

Loan fraud is defined as when someone uses your identity to obtain a loan without your permission.

A fraudulent act is sometimes committed by the person or organization offering the loan (the creditor). Sometimes it is the borrower (the debtor) who acts in bad faith.

Mortgage fraud, payday fraud, and loan fraud are all examples of loan fraud. In each of them, someone will be left out, while the counterpart will take advantage and disappear.

5 types of loan fraud

Several types of loan fraud can occur. Some of the most common are listed below.

Personal Loan Fraud

The most common and recurring type of loan fraud is personal fraud. It happens when someone takes out a loan while lying on their application. They could, for example, lie about their income or their ability to repay the loan.

Third Party Loan Fraud

Second-party fraud is the same as first-party fraud, except that the fraudster “impersonates” an accomplice. The accomplice may be a family member or friend who may or may not know about the borrowing system.

Third Party Loan Fraud

Third-party loan fraud occurs when someone borrows money under the guise of another person. In this situation, an individual (or a group of individuals) provides fraudulent credentials to a creditor in order to borrow money.

Loan Scams and Debt Collections

Debt collection systems aim to attack debtors. These deceptive techniques are used to trick customers into paying a fee to access a loan or to scare borrowers into repaying a loan to the wrong company.

mortgage fraud

Mortgage lenders, who provide loans for the purchase of property, are also vulnerable to fraud. Fraudsters may try to outsmart the mortgage system in order to get a better loan or gain access to a property.

Borrowers who commit real estate fraud are often motivated by a desire to keep their current property or acquire a new one. These borrowers think they are unlikely to be accepted for a loan if they provide honest information, so they falsify or omit important facts such as employment and income, debt and credit or value of a property in order to increase their chances of acceptance and even to acquire better loan conditions.

Why you need to prevent loan fraud

Loan fraud has a wide range of negative implications, which are not limited to banks, governments and lenders.

A thief can, at the very least, take out many payday loans on your behalf. In the worst case scenario, a fraudster can create a real home, business, or auto loan in your name that you would be required to repay.

You can be held liable for money withdrawn on your behalf if you are the victim of loan fraud. If you don’t repay the loan, you could face a significant penalty on your credit score as well as criminal prosecution.

Loan fraud can sometimes be difficult to detect. Especially if the scammer is based in another state or gained access to your mail through a change of address system.

Finally, if an identity thief has used your stolen identity to obtain a loan, they may attempt other types of fraud with it.

Fortunately, the majority of victims can prove that the loan was acquired by an identity thief. However, going through the procedure is still a negative experience that can have long-term consequences on your credit.

7 steps to prevent loan application fraud

Today, thanks to advances in technology, there are several methods to prevent loan application fraud. Some of the most important and relevant are listed here.

Identity verification and facial recognition

Implementing secure technology solutions, such as identity verification and facial recognition, is one of the first steps in loan fraud prevention.

Identity verification is a type of authentication that compares a person’s claimed identification to the data that verifies it. Birth certificates, social security cards, driver’s licenses and other papers can all serve as providers of this objective reality.

In addition to verifying paperwork, which may have been stolen, you can also deploy a facial recognition system to provide even more secure loan fraud prevention.

Facial recognition is a technological method of recognizing a human face.

It is a biometric identification approach that uses a person’s facial pattern and biometric data to authenticate their identity.

Validation of identity data

Identity data validation is the process of verifying that an individual’s personal information, such as name, address, phone number, and email address, exists in the real world.

Checking databases such as mailing address files, phone records, or even basic credit data can help you do this.

digital fingerprint

A digital fingerprint, also known as a digital shadow or an electronic fingerprint, is the data trail you leave when you use the internet. This includes the websites you visit, the emails you send, and the online forms you fill out. A person’s internet actions and gadgets can be tracked via a digital fingerprint.

Since these behaviors and habits are difficult to imitate, using digital fingerprints for verification purposes is a good strategy to avoid fraud.

Therefore, analyzing a user’s digital fingerprint may lead to the discovery of fraud. For example, if a single IP address is used to create several new accounts in a short time, you may suspect fraud.

Bank account verification

The process of determining if funds are being transferred between real bank accounts is called bank account verification.

This technique helps your business verify submitted bank account information and confirm that it belongs to the rightful owner. Finally, you can be sure that the funds are coming from the correct source.

Knowledge-Based Authentication

Knowledge-Based Authentication, abbreviated KBA, is an authentication method based on a series of knowledge questions used to validate a person’s identity to prevent unwanted access to a location or, more generally these days, to an account.

KBA authentication is classified into two types: static and dynamic.

Static knowledge-based authentication, one of the most widely used security approaches, is sometimes referred to as “shared secrets” or “shared secret questions”. When creating an account, the user selects the KBA static question.

Therefore, the question and answer are saved for future use when identity verification is needed.

Unlike static KBA, which requires the user to build a security question and provide the answer when creating an account, dynamic KBA does not require the user to construct a security question and provide the answer. response when creating an account.

This implies that questions are created in real time using data linked to an identification number. “Select the last digits of your social security number”, for example.

Phone and social media authentication

Using social media accounts for authentication is becoming increasingly popular. This type of authentication allows users to access the Internet using their current social media accounts, such as Facebook or Twitter, without having to provide additional credentials.

This way, you can have greater confidence in the truthfulness of users and the validity of their actions.

In terms of social media, several websites use phone authentication, which seems to be more secure than social media authentication.

Since it’s impossible to fake phone numbers, you can be sure that the user is genuine.

Two-factor authentication

Two-factor authentication is one of the most popular verification methods on the web.

It improves security by requiring two verification methods (also known as authentication factors) to prove your identity. A security factor can include something you know – like your email address and password – as well as something you have – like a smartphone app – to approve authentication requests.


This concludes our blog post on the top seven steps to prevent loan application fraud.

As discussed throughout, these types of financial crimes can have serious financial and legal consequences for your business, organization, and users.

By preventing it now, you will avoid these negative repercussions. As we have already noted, there are several ways to keep your users safe. You can select the ones that best suit your organization.

Thank you for taking the time to read this blog post. I hope you found it informative and relevant.