You’ve no doubt heard of a secured loan before, but do you know what it actually is? Quite simply, it is a loan that is secured on something that is used as collateral for the amount of the loan. Very often this will be your property, although in the case of a car loan it might be the car itself. If you default on the loan, whatever you put up as collateral can be taken from you in order to pay back the debt.
I advised Mr Mwanawasa.S.c that by allowing ZNOC implement the US$ 65 million ABSA Oil Financing Facility, it was not only going to bring about financial stability in the banking sector in Zambia, but that it would also provide the government with an opportunity to solve the ZANACO problem without using public funds to recapitalise it. There after then the government could insistitute investigation to determine what could have contributed to the erosion of the capital base at ZANACO, while both institutions ZANACO and ZNOC would have been preserved.
I advised Mr Mwanawasa.S.c. that even the IMF and World bank conditionalituies of making ZNOC as manager of Strategic reserves would not be attained if the ABSA US$ 65 Million Oil Financing Facility was not implemented by ZNOC , because such a Strategic Reserve Manager role entailed there being common utilization of the TAZAMA Pipelines and the INDENI Refinery by ZNOC as manager of strategic reserves and the private sector oil companies, and without ZNOC or indeed the government having its own financing capacity, the strategic manager role of ZNOC / Zambia government would be an illusion because the IMF and the World bank would not allow the Zambian Government to use public funds for oil procurement purposes.
I think the Watchdog is treading on dangerous grounds. These people are mercenaries. You clearly have the truth on your side. But that is why they will want to silence you. My advice is that you should buy pistol and carry them with you. They won’t sue you or challenge you on the truth, but they will definitely come for you. Take that warning seriously. Some one talked about donors reading, am sure they are. They are interested in Zambia. I was at one workshop of donors and one donor was advising other donors to look for leads on the Watchdog site. He actually gave the link to this website.
I think the Watchdog is treading on dangerous grounds. These people are mercenaries. You clearly have the truth on your side. But that is why they will want to silence you. My advice is that you should buy pistol and carry them with you. They won’t sue you or challenge you on the truth, but they will definately come for you. Take that warning seriously. Some one talked about donors reading, am sure they are. They are interested in Zambia. I was at one workshop of donors and one donor was advising other donors to look for leads on the Watchdog site. He actually gave the link to this website.
I have always believed that Dr. Katele Kalumba and other senior members in MMD are the key manipulators. Initially, Levy went for them, just to end up working with these ‘criminals’. I am reminded of Kalumba’s vodoo laptop and the dispearance. My gut feeling is that we have work before us. I am convinced that MMD needs to be cleansed. If not can these ba matipa be dislodged from power. Honestly, some is totally wrong with the way Zambia is being governed. It is like fraudulent activities that started with Chiluba is confirmed and excuted by Mwanawasa, then pass by dribble. can we trust my mbuya (RB)? RB does not convince me that he is a decisive leader. May be I will be proven wrong. My prayer is that all those who have information, let them share it with us, that way we will empowered to make decisions.
MMD is full of thieves, crooks and corrupt people. This party is bringing our country down. They all only have personal interests in the party: make more and more money while in power. MMD must go, period. We cannot develop when our leaders are stealing so much. I wish donors are reading this and getting a good impression of the kind of organised thieves Zambian politicians are. It’s our leaders that are tarnishing our image as zambians. What a shame!
Property prices normally rise over time and many western countries have seen a boom in property prices as populations increase and as their countries economy increases. This mean that a house bought for $100,000 in one year may be worth $200,000 in 6 years time and so people have spare cash locked into their property. Many people have bought their home as it is where they want to be and don’t want to move. The money is therefore hard to get out unless they borrow against the property with a secured loan.
Essentially a non-credit card merchant cash advance option, business cash advances are ideally suited to business owners that don’t receive profits through credit and debit card sales. Instead lenders receive their daily payments by going through the business’s bank. One of the main advantages of this type of unsecured loan is that the amount to be repaid is agreed upon before signing the contract, so nothing is left to guesswork. These forms of unsecured loans are targeted at successful businesses that need a short term cash injection in order to grow quickly, with the money used typically spent on things such as software updates, product development, remodelling or employee training.
To summarize the benefits of unsecured loans, a cross-section of different loan types, such as those discussed here and payday loans, must be analyzed. The most common and important advantages are headed by the fact no collateral or security is needed to obtain one, so any assets you have are safe if you fail to repay the loan. Such loans are also available very quickly, often within 24 hours of an application being made, and in some cases, such as with Ezbob , within minutes of a decision being made.
Minimal documentation is another benefit of unsecured loans, as is their flexibility. So you don’t need to provide pages of personal documents and the loan can be used for a range of different purposes. While looking at the benefits of unsecured loans, it’s worth keeping in mind the downsides, and the one to be most wary of is the high interest such loans carry. That said, as long as you are confident you can pay the loan back – and quickly – unsecured loans can have a hugely positive impact on your business.
Unsecured business loans are easier to obtain than secured business loans because your business doesn’t need to supply collateral. While lenders can seize the collateral if your business defaults on a secured loan, a lender can’t take any of your business’ property if it defaults on an unsecured business loan unless he obtains a court order. Finally, if your business files for bankruptcy, the court may discharge unsecured loans, but it won’t typically discharge secured ones.
Because unsecured loans are more risky for lenders, they usually include higher interest rates than secured business loans, which means your business will pay more over the life of the loan than it would have paid for a secured loan of the same amount. Higher interest rates also cause the individual loan payments to be higher and more difficult to afford. Finally, unsecured business loans are harder to qualify for. If your business has a poor or nonexistent credit history, the lender may not approve your application.
Getting approval for loans is a multi-step process, and it cannot be completed easily but now it has been made a bit easier. Even financial advisors state that getting loans is not a bad idea at the time of emergency as using up all the savings might affect the person in many other ways. The main reason that made getting unsecured loans easy is the advent of the internet. It is necessary to have a good idea about the loan process that can be done through the online. These online unsecured loans have made sure even the people with bad credit do not find it very difficult to get the loan approvals.
The repayment schedule of the unsecured loan is designed so as to increase the profit and minimise the risk for the lender. Most lenders will give you the option to repay the loan between time periods of six months to ten years. The longer the tenure of the loan the greater is the interest you pay on it. It is in the interest of the borrower to decide on a monthly installment that doesn’t pinch him and makes the repayment period as shorter as possible. This is often a tricky situation but with consistent financial discipline the borrower can salvage the situation.