WHY CHOOSE ICASHLOANS ? : When you need cash quickly you want to work with a service that is reliable and experienced in the payday loan industry - iCashLoans is both. We pride ourselves on connecting our customers with the best payday lenders to meet their needs. Why waste time visiting dozens of websites trying to figure out which lender will serve you best? iCashLoans is the only site that you need to visit when you’re looking for a fast, secure payday loan.

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Our services are designed to help you find a reputable payday lender to work with. iCashLoans has a large number of lenders in our network, and we are confident that we can assist you in obtaining the best payday loan to meet your needs. Everyone hits a rough patch financially at some point, and payday loans are a great solution for short-term cash flow problems. You don’t have to worry about how you are going to pay an unexpected bill, or cover an emergency expense, between pay checks - iCashLoans is your source for finding payday loans. Using iCashLoans is 100% free to you - we do not charge any fees for our services. When you use iCashLoans you will save time and money. All you have to do is provide us with basic information and we will instantly search our network of lenders to find you the loan that meets your needs. At iCashLoans we pride ourselves on working with lenders that are fair and honest in their lending practices. Our main goal is to provide you with a great experience when searching for a payday lender. All lenders in our network are required by law to follow all of the rules and regulations related to payday lending. Don’t drive around town to visit payday loan shops, and forget about looking at website after website trying to find a loan with fair terms. iCashLoans is the only place you need to go to find a payday loan. We will search our vast netowrk of lenders instantaneously to find you the loan that you are looking for.

Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

Saturday, June 7, 2014

What is a Bridge Loan?


A bridge loan can be considered as a short term loan that is used by a person or a company in order to meet his current financial need. This bridge loan is taken by a person or a company until he is able to get a permanent financing alternative. As the name suggest, it bridges the gap between times when financing is needed. It is also known as "interim financing" or "gap financing". A short term loan can last up to one year. The interest rates are high on these loans and they are normally backed by collateral (such as real estate) or it can also be backed by inventory. In my opinion, a bridge loan is definitely more expensive than conventional financing due to the high interest rate involvement. But a bridge loan can be arranged quickly with less documentation formalities.

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It is basically a sort of temporary financing for an individual or a businessman until a permanent financing arrangement is obtained. For example: you have a desire to buy a house. Hence with the help of a real estate agent, you start hunting for a house and arrive at a suitable choice. But the only problem is that you need to sell your present house in order to buy that new house. In such a situation, taking a loan comes to your rescue. You must have enough equity in your present home which will then qualify you to get some cash so that you can make a down payment and buy the concerned new house. As there can be a time lag between the sale of one property and the purchase of another, a bridge loan allows a home owner to enjoy the benefit of flexibility.

The loan helps you to make an advance payment in order to get yourself good deals for a new house. Bridge loan facilitates quick investment once a borrower opts for it, he then can make a payment for his current mortgage and the remaining funds can be used towards making of advance payment for the purchase of a new house. Once the old house is sold, the borrower will use the funds to reimburse the bridge loan. The borrower who gets the amount does not have to pay interest if the house is sold within the time period of six months. If the house does not get sold out within six months, then the borrower only have to pay for the interest on the loan amount. A bridge loan is normally used for commercial real estate purchases to quickly close on a property, release a real estate from foreclosure or just take an opportunity of a short-term loan for securing a long term financing goal.

A bridge loan is often used by developers in order to carry on a project during the process of approving the project. Most banks do not offer the facility of real estate loans. The main reason is because of its speculative nature, risk involved and lack of full documentation which do not fit within the bank lending rules. In such adverse circumstances a bank will have to then justify its lending practice offered to its investors. Hence, bridge loans are often offered from individuals, investment pools and businessman that involve in higher interest loans.


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