How to Avoid Substantially High Financing Costs

Many people find that there are several ways to owe less while owning more. Unfortunately, many people do not. And these same people are missing out when it comes to finding ways to avoid not just extra financing costs, but elevated financing costs. If you focus on your investment and find the right dimension to focus on, you can find ways to avoid these extra charges.

The first and most obvious way of avoiding extra costs is to keep a good record of paying your loan by the due date. Most mortgage firms add extra finance charges if you miss the due date. Over a mortgage of say 360 months, missing a few payment dates can add up to extra whole monthly payments or, at the very least, several hundred dollars in extra finance charges. It’s always best to stay consistent and pay your mortgage on time. In the end your costs will be stable and significantly lower.

Second, the variety of loan options available to you can make it easier to find one that will make it easier to avoid extra financing costs. Many loan programs require a larger investment. You may need to step back and decide if a higher investment is in your best interest. Always look at the long haul. Compare how much money will you pay with each plan with different initial investments. This will help you find the best financing plan to fit your needs. A good investment plan will make all the difference with money paid overall and your monthly payment.

Finances alone are not the only thing to look at when you try to avoid cost overruns. You have to take property value into account. Obviously, every real estate investor wants a property worth more than the asking price. It’s always best to try to achieve this goal as best you can. After paying your home mortgage for a few years, you can still benefit on that investment later. There is still a great chance to get a higher return should you decide to invest in a bigger and better property.

In summary, the way you approach a real estate financing plan can be beneficial when you want to avoid extra finance charges. If you do your homework, understand the loan process and your need, you will find the property that will give you a better return while eliminating extra high financing costs. Eventually, you will not only have a roof over your head, but you will have created an investment that will help you make the most of your investment.

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Why a Confidential Factoring Receivable And Invoice Finance Program Will Work For Your Firm

Are we right or wrong? We have always maintained that knowing something others don’t in business gives you an advantage, and we think you’ll see that advantage when we tell you about a confidential factoring program that works and why this type of invoice finance puts you head and shoulders above your competition.

You probably have heard that thousands of Canadian firms have moved to invoice discounting as their primary finance vehicle. Unfortunately misinformation about this type of financing is everywhere, and we’ll show you how the advantages of receivable financing can be put to work immediately.

The real power of confidential invoice financing is the fact that you have the ability to bill and collect your own receivables. 99.9% of your competition won’t be able to do this, and it is that stigma along with their suppliers, employees, etc that your competitors can’t overcome.

Invoice financing works because as you grow your company the collection of cash doesn’t, unfortunately, match the amount of sales you are generating. Those customers of yours continue to pay you in 30, 60, and 90 days… like it or not.

Naturally we tell our clients they have the option of restricting their customer’s credit, holding shipments, and enforcing a strict collection policy – as you can imagine that is not their preferred solution – which is more often than not to extend more credit and be patient with their customers.

If you have an operating line of credit from a bank you could generally fund this working capital at a pretty decent cost – unfortunately small and medium sized business in Canada can’t always access this type of credit.

Enter a confidential factoring receivable and invoice finance program! When you utilize this type of financing you are generating all the short term borrowing you need, and, more importantly, you have the ability, unlike those competitors of yours to bill and collect your own receivables. Most receivable financing in Canada is actually done on a full notification basis – it works, but we don’t like it, because it involves notifying our clients, employees, etc as to how your firm is being financing. We prefer that to be our clients business, not the entire marketplace!

When you use confidential invoice financing you receive approx 90% of the invoice amount the day you generate the invoice. The balance is simply held back and remitted to you when your customer pays you – less the financing charges.

And hey, what about those financing charges – aren’t they high? We have some strong opinions on that, mainly due to misinformation that abounds on the cost of factoring. Confidential invoice factoring costs the same as regular financing in this manner, and we point out to clients that the charge is not dissimilar to carrying those accounts receivable for 60-90 days on your books. And making using of that cash to generate further sales and profits, enhance relationships with suppliers, etc, is a key benefit of this financing.

Speak to a trusted, credible and experienced Canadian business financing advisor and learn how you can take a unique competitive lead via a confidential invoice finance program.

Stan Prokop – founder of 7 Park Avenue Financial –

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