New Orleans area eligible for federal disaster relief loans

BATON ROUGE, La. (AP) — Low-interest federal disaster loans are to be had to Louisiana groups and citizens within the New Orleans vicinity who had flood damage from heavy rains earlier this month.

The kingdom’s emergency preparedness workplace says the U.S. Small Business Administration legal the loans for Jefferson, Orleans, Plaquemines, St. Bernard and St. Tammany parishes for flooding Aug. Four-6.

Homeowners can get catastrophe loans as much as $200,000 to restore their homes,

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while house owners and renters are eligible for loans as much as $40,000 to restore or replace other damaged non-public property.

Businesses and nonprofits can borrow as much as $2 million to rebuild and to replace equipment and inventory. Certain small corporations and nonprofits also can get disaster loans to help them with cash-float wishes.

 

More information is to be had via

Tax refund anticipation loans provide a way of gaining access to the funds due from a tax refund faster than if you were to wait for the IRS to process the refund. In essence, they are short-term loans against the anticipated income from a tax refund.

Whether this type of loan will be suitable for you or not, will depend on your personal circumstances. While a tax refund anticipation loan will undoubtedly give you virtually instant access to the money that you are owed by the government, there are also some disadvantages that you should bear in mind too.

The advantages

The main advantage of a refund loan is that you will have the funds that you expect to receive your tax refund available to spend earlier. This type of short-term loan is usually processed very quickly and you could have your money in your checking account within just a few days. That can be especially beneficial if you have urgent bills to pay and you can’t wait for the refund to come through the usual channels.

The disadvantages

The main disadvantage of these types of loans is that you will be charged interest and fees, which can be quite high, and that will reduce the amount of money that you receive from your refund. It is important when you apply for this type of short-term loan that you are fully aware that it is a loan, it is not, as some advertisements would lead you to believe, a means of getting your tax refund processed faster.

Another potential disadvantage that consumers need to be aware of this type of loan is that, if the tax refund is delayed or the IRS refuses the refund, the loan will still be outstanding and it will still need to be repaid.

When is an Orleans  tax refund disaster anticipation federal loan appropriate?

 

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As with all types of loans, the need for a tax anticipation loan will depend on your own circumstances. If you don’t need the funds urgently, then it would be better to wait for the refund to be processed in the normal way than it would be to spend money on the fees and the interest of a loan.

On the other hand, if you need funds urgently and you are prepared to receive slightly less of your refund than you might have originally expected, a tax anticipation loan would make those funds available to you within just a few days.

Shop around

If you do decide to apply for a loan in anticipation of the tax refund, it is better to shop around rather than taking the first loan that you see advertised or the loan that your accountant offers you. There are lots of loan companies who provide this type of finance and the interest rates and fees can vary considerably, so a loan matching service is often the best option, because you may be offered a loan by more than one lender, in which case, you can look for the best deal that is available.

It is always important when agreeing to any loan, including tax refund anticipation loans, that you read the terms and conditions very carefully and that you understand what the cost of the loan will be and when the loan will need repaying.

 

Unleash the power of bridge loans

A bridge loan is a short-term financing solution that’s offered by alternative financing lenders and private equity funds to companies and other commercial entities. However, a short-term loan will always come with higher interest rates and other read-between-the-line details. A bridge loan gets its name because it builds a financial bridge between two different funding periods.

How does a short-term loan work?

A case in point: A company has been sanctioned a loan for USD 1 million from a bank. Now, the loan will be provided to this company in a period of six months. Meantime, suppose the company needs cash. Then, what will I do? It’s simple-the company should head to bridge loan lenders.

Being a short-term financing option, a bridge loan will be given to a company with a repayment period of six months to two years. Now, that’s exactly how a bridge loan works. If you’re more concerned with exploring the way such a financial solution benefits you, you should head toward a bridge loan financing expert.

Why short term loans matter and have grown in popularity in today’s conservative markets?

 

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Now, you’re part of a hyper-competitive business environment where you’ll have to make a lot of critical decisions. Some of these decisions, doubtlessly, have to be financial in nature. For example, you have to buy a parcel of commercial real estate immediately; you have gone to a trusted commercial real-estate consulting player, and even the land looks pretty good, but you lack the cash.

Now, what has to be done? The answer lies in you securing loans. This financing format will let you access high-quality, much-needed funds in a short span of time with minimal due-diligence. These funds will be necessary while you’re arranging for a conventional commercial loan or waiting for a loan to be processed with a more traditional financial institution which typically takes an excess of 120 days in most markets due to the several third party inspections and internal quality assurance reviews.

A few key points to remember while applying for a bridge loan

Here are a few points that you should remember while you apply for a loan.

Eligibility criteria

Just like any other financing format, lenders will have to look at a borrower’s payment history and credit worthiness. In this case, you’ll have to pledge collateral that can be a commercial, multi family, development land or any other valuable real estate asset. A business that’s applying for this specific fund can even pledge intangible ones such as an intellectual property. A few financial institutions may even require you to reduce your operating expenses while the repayment is made.