Loans

An overdue payment is commonly referred to as a "delinquent payment" or simply "delinquency." It indicates that a payment has not been made by its due date and is now considered late. In financial contexts, it may also be called a "past due" account. Delinquent payments can lead to penalties, interest charges, or negative impacts on credit scores.

A DLSCNS (Direct Loan Student Consolidation) loan program is designed to help borrowers consolidate their federal student loans into a single loan, simplifying repayment and potentially lowering monthly payments. This program typically allows borrowers to combine various types of federal loans, including Direct Loans, Stafford Loans, and others, into one loan with a fixed interest rate. It can be beneficial for managing multiple loans, but borrowers should consider the potential loss of borrower benefits associated with individual loans. Always check eligibility and terms before applying for consolidation.

To request a loan for medical treatment from your company, keep your letter or email simple and professional:

State the reason (medical treatment/expenses).

Mention the loan amount and suggested repayment plan.

Attach supporting medical documents if needed.

End with gratitude and assurance of repayment.

Example:

"I am requesting a loan of $[X] to cover urgent medical expenses. I propose to repay this amount in [X months] as per company policy. I appreciate your consideration of my request."

At RiseUp Financial, if company loans aren’t available, we also connect you with trusted lenders for personal medical loans at competitive rates.

The average cost of a home loan depends on several factors—such as your credit score, down payment, loan type, and location. Typically in the U.S., home loan interest rates range between 5% – 8% (as of recent trends), but the total cost goes beyond just the rate.

What Impacts the Cost of a Home Loan?

Interest Rate: A lower rate reduces your monthly payments and total cost over the loan’s life.

Loan Term: A 30-year loan may have smaller monthly payments, but you’ll pay more in total interest than with a 15-year loan.

Type of Loan: Government-backed programs (like FHA or VA loans) often provide lower rates than conventional loans.

State Programs: In California, Texas, Florida, and Georgia, home loan companies also offer special programs like home improvement loans or educator-focused home loans.

Example:

For a $250,000 home loan at 6% over 30 years, you’ll pay roughly $1,500/month, with the total cost exceeding $540,000 by the time the loan is paid off.

Key Considerations

Always factor in closing costs, insurance, and property taxes in addition to the loan itself.

Use a home improvement loan calculator or mortgage calculator to get an accurate estimate before applying.

At RiseUp Financial, we help you compare home loans and home improvement financing options, so you secure the best home loan rates with transparent terms.

Yes, you absolutely can. Changing your car loan to another loan company is called auto loan refinancing. It means replacing your current vehicle loan with a new one—often from a different lender—that offers better terms.

✅ Why Refinance Your Car Loan?

Lower Interest Rate: If your credit score has improved, you may qualify for lower vehicle loan interest rates.

Reduced Monthly Payment: Refinancing can extend your repayment term, lowering monthly costs.

Switch Lenders: If you’re unhappy with your current lender, refinancing gives you the chance to move to a company with better service.

Free Up Cash Flow: Lower monthly payments can ease your budget and improve financial flexibility.

Things to Consider

Check for prepayment penalties on your existing auto loan.

Compare offers carefully to make sure refinancing truly saves you money.

Ensure the new loan doesn’t extend your repayment term unnecessarily, which could increase total interest paid.

At RiseUp Financial, we connect you with lenders offering vehicle refinancing options across California, Texas, Florida, and Georgia—helping you lower your auto loan rates and find terms that work for your financial goals.

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What Are Secured Business Loans?

Secured business loans, sometimes called collateralized loans, are a common type of small business financing that’s secured by some type of personal guarantee or valuable asset. If you aren’t able to repay your business loan, the lender can use the collateralized assets or personal guarantee to legally recoup their losses.

In the end, you’ll get a better loan offer—lower interest rates and longer terms—with secured business loans. In some ways, you’re giving the lender a sense of security—they’re guaranteed to get their money back one way or another.

Is a secured loan right for your business? We’re here to help you find out.

In this guide, we’ll review everything you need to know about secured business loans—including how they work, what types of secured loans are out there, and where you can apply to the best options.

Table of Contents

How Do Secured Loans Work?

Secured vs. Unsecured Loans

How to Secure a Business Loan

Types of Secured Business Loans

Best Lender Options

The Bottom Line

Frequently Asked Questions

How Do Secured Business Loans Work?

As we mentioned, secured business loans are those that require some type of collateral (i.e. backing, anything your business owns that can be turned into cash) to access financing.

Although, as we’ll discuss below, secured loans can take many forms, they’re generally structured as business term loans. In this case, you receive a lump sum of capital from a lender and pay it back, with interest, over a set period of time.

This being said, when it comes down to it, most business loans are secured in some way or another. After all, from the lender’s perspective, providing financing to small businesses is a risky endeavor, especially when working with startups or businesses with bad credit.

Secured loans, therefore, mitigate some of this risk—as you’re giving the lender the right to seize and liquidate specific assets (the collateral you used to secure the loan) in the event you can’t pay.

Secured vs. Unsecured Business Loans

With this information in mind, you might be wondering: What’s the difference between secured loans and unsecured loans?

In short, whereas secured business loans require you to put up collateral to access financing, unsecured business loans don’t.

However, the term “unsecured” here can be a little misleading. Although unsecured loans may not require that you offer up collateral or physical assets, the lender will mitigate their risk in some other way—typically be requiring a personal guarantee or taking out a UCC-lien on your business.

In addition, unsecured loans often have higher interest rates in comparison to secured business loans—again, because secured loans offer greater security for the lender, allowing them to offer you capital at lower rates.

Use our guide to learn more about unsecured business loans.

How to Secure a Business Loan: 7 Different Ways

As we mentioned above, collateral (in some form) is the key to secured business loans, as it decreases the lender’s risk and makes them more willing to offer the capital you need.

So, what can you use to secure a business loan? Here are seven different options:

Property

When you apply for secured business loans, you might be asked to put up your real estate assets or home equity as collateral for the loan. This is the most common type of collateral used by borrowers.

When you put up your home or real estate holdings to get a loan for your business, you’re giving the lender permission to seize these assets if you default on your loan.

However, property doesn’t refer only to real estate. You can also offer equipment, cars, motorcycles, boats, etc. as collateral on a business loan.

Savings

Sometimes referred to as “cash-secured loans” or “passbook loans,” these secured business loans use the cash in your bank to serve as collateral for the loan.

If you default on your loan, the lender can liquidate your savings account in order to recoup their money.

Additionally, from a lender’s perspective, this is one of the best types of collateral. After all, it’s very low risk for them—if you default on your business loan, they can instantly get their money back.

Plus, they won’t have to go through the hassle of selling a physical asset, such as a house, a piece of equipment, or a car.

Invoices

Many small business owners have customers who don’t pay their invoices right away—and suffer cash flow issues because of it.

In this case, those unpaid invoices represent income for your company, and they can be offered up as collateral for loans, too.

A person can sell half of their home by entering into a co-ownership agreement or selling a fractional interest in the property. This typically involves a legal arrangement that outlines the rights and responsibilities of both parties, including how expenses and income from the property will be shared. It's essential to consult a real estate attorney to ensure the transaction complies with local laws and regulations, especially since the original owner has already received payment for their share.

If you default on your monthly payments to the trustee in a bankruptcy case, the trustee may take several actions. They could file a motion to dismiss your bankruptcy case, which would leave you responsible for your debts without the protection of bankruptcy. Additionally, your creditors may resume collection efforts against you. It's crucial to communicate with your trustee and explore options if you're facing difficulties in making payments.

VA loans do not require Mortgage Insurance Premiums (MIP), which is a significant advantage over conventional loans. Instead, VA loans charge a one-time funding fee, which can be financed into the loan amount. This funding fee varies based on factors such as the borrower's military service and down payment amount. Overall, this makes VA loans a more cost-effective option for eligible veterans and active-duty service members.

The relationship between credit score and interest rate on a loan is inversely proportional; as a borrower's credit score increases, the interest rate offered tends to decrease. Lenders use credit scores to assess the risk of lending money, with higher scores indicating a lower risk of default. Consequently, borrowers with better credit scores are often rewarded with lower interest rates, resulting in reduced overall borrowing costs. Conversely, those with lower credit scores may face higher rates due to the perceived increased risk.

For a three-year car loan, the monthly payments will be higher compared to a six-year loan because the repayment period is shorter, meaning the principal amount is paid off more quickly. However, the total interest paid over the life of the loan will be lower for the three-year loan, as interest is calculated on a smaller principal over a shorter duration. In contrast, the six-year loan will have lower monthly payments but will accumulate more total interest due to the longer repayment period. Overall, the three-year loan is more cost-effective in terms of total interest, despite higher monthly payments.

Yes, it is possible to obtain a business loan without a credit history, but your options may be limited. Lenders may consider alternative factors such as your business plan, cash flow, and personal financial history. Additionally, you might explore options like secured loans or seek out lenders who specialize in working with startups and businesses without established credit. However, be prepared for potentially higher interest rates or stricter terms.

When a 401(k) loan is not repaid, it is typically considered a distribution by the IRS, leading to tax implications. The outstanding loan amount is treated as taxable income, and if the borrower is under age 59½, an additional 10% early withdrawal penalty may apply. This can significantly reduce the retirement savings intended for the individual's future. Additionally, the plan may impose further penalties or restrictions on the borrower’s account.

The original amount of money borrowed in a loan is referred to as the "principal." This is the initial sum lent to the borrower, excluding any interest or fees that may accrue over time. The principal is the base amount on which interest is calculated throughout the duration of the loan.

You can apply for government personal loans through authorized banks, credit unions, or government-backed financial programs. Typically, these loans are offered for education, housing, or small businesses under federal or state schemes. Applicants need to meet eligibility criteria, submit documents, and sometimes provide collateral. Unlike private loans, government-backed loans often have lower interest rates and more flexible repayment terms.

Getting an FHA loan for a second home isn’t really an option—those loans are designed specifically for primary residences. The whole idea behind FHA is to help people get into their main home, not fund vacation spots or investment properties. If you’re looking to buy a second place, you’d usually need to go with a conventional loan instead. The good thing is, once you’ve built up some equity or improved your credit with that first FHA, you might qualify for better terms on the next loan. Companies like ALT Financial Network, Inc. often help people figure out those next steps and find the right path forward.

When a borrower receives a discount loan, the total interest amount is deducted from the principal before the loan is disbursed. As a result, the borrower receives a lower amount than the nominal loan amount because the interest is prepaid. This means that the borrower must repay the full nominal amount at maturity, even though they only received the discounted principal. Essentially, the borrower pays interest upfront, which can result in a higher effective interest rate compared to traditional loans.

To rebate a personal loan, you typically need to contact your lender to inquire about their specific rebate policies or offers. Some lenders may provide rebates for early repayment or for meeting specific criteria, such as on-time payments. If eligible, you may need to fill out a form or provide documentation to receive the rebate. Always review the terms and conditions to understand any potential fees or impacts on your loan agreement.

In Pennsylvania, the length of primary mortgage interest typically aligns with the term of the mortgage, which is commonly 15 to 30 years. The interest rate can be fixed or adjustable, depending on the loan agreement. Borrowers often choose a fixed-rate mortgage for stability in payments throughout the term. Always check with local lenders for specific options and terms available.

In most cases, a title loan requires the car owner to be present and provide consent, which typically includes their signature. If the car is solely in your name, your wife would generally not be able to secure a title loan on it without your agreement. However, laws can vary by state, so it's essential to check local regulations and the specific policies of the lending institution.

The Honda Finance Exchange overnight payoff address typically varies by location and specific loan details. For the most accurate and up-to-date information, it’s best to contact Honda Financial Services directly or check their official website. They can provide the specific overnight payoff address based on your account and state.

The savings and loan crisis of the late twentieth century was primarily caused by a combination of deregulation, risky investment practices, and economic factors such as rising interest rates. Deregulation in the 1980s allowed savings and loan institutions to engage in high-risk activities, leading to significant losses. Additionally, many institutions faced insolvency as they could not manage the disparity between short-term deposits and long-term loans, resulting in widespread failures and a costly government bailout.

The entry for an installment payment typically involves recording the sale and recognizing the accounts receivable. When a customer makes an installment payment, the accounting entry would debit cash for the amount received and credit accounts receivable for the same amount. Additionally, if interest is involved, interest income may also be recorded as a separate entry. This ensures that both the revenue from the sale and the cash received are accurately reflected in the financial records.

I have one also! Found out that it is not authentic. In the early 1960's thousands were printed, chemically aged, and given out at battlefield parks to commemorate the civil war centennial. Clue? All have same serial #. Mine is #415. How about yours?

To calculate hire purchase interest, first determine the total cost of the item and the deposit amount. Subtract the deposit from the total cost to find the financed amount. Next, apply the interest rate, typically expressed as an annual percentage rate (APR), to the financed amount over the repayment period to calculate the total interest. Finally, add the interest to the financed amount to determine the total amount payable over the hire purchase term.