Running a small business during financially turbulent times can be extremely trying. But, monetary aid, specifically small business loans, can definitely make things easier for both the business and its employees. Funded and guaranteed by the federal government, 7(a) loan programs have been designed by keeping business-owners’ best interests in mind. Here are answers to some commonly asked questions regarding small business loans: What is an SBA loan? Loans by the Small Business Administration (SBA) are guaranteed business loans that are given to small businesses by participating lenders. Since these loans are guaranteed by the federal agency, they are much more manageable than those provided by private agencies. SBA loans also have the added advantage of lower interest rates. These loans are available in a broad range in order to suit specific business needs. You can get a loan that ranges anywhere from $500 to $5.5 million to fund your entrepreneurial adventure. Further, the loan can be accessed in the form of fixed assets or working funds. Types of SBA loans SBA loans are available in many types. Some of them include—SBA flagship loans, microloans, SBA disaster loans, and 504 loans, among others. Each of these loans comes with different funding criteria.

Long-term investments do not necessarily mean that your money becomes inflexible. Instead, you should invest in such a way that you can generate a steady income. To ensure this, you need to invest intelligently by aligning your portfolio to your investment goals. Furthermore, you need to ensure that your returns outweigh your risks. One of the surest ways to ensure this is by investing in NNN properties that are for sale. Continue reading to know more about NNN properties and benefits of buying them. What are triple net(NNN) properties? NNN properties are pieces of real estate that can be leased to commercial franchises or corporations. Here, the tenants undertake all operational and management responsibilities of the property apart from paying rent to the owner. No investment is risk-free; however, investing in NNN properties has proven to be a highly profitable venture for investors. To invest in NNN properties, you must have an accredited net worth of at least $1 million. This value is excluding the value of their residential real estate or $200,000 in income. Other investors who have lower net worths can invest in NNN properties for sale by investing in REITs or Real Estate Investment Trusts. Benefits of buying NNN properties for sale:

A reverse mortgage is a loan taken against the value of the home (equity) to meet certain expenses, debt obligations, and even supplement income during a financial crisis. It allows homeowners to convert a part of their home value into cash for expenses and retain the ownership of the property simultaneously. However, reverse mortgage eligibility and feasibility are quite complicated and there are times when it is not a good option, especially for seniors (common applicants for a reverse mortgage) above the age of 60. Here are a few reasons why. Home eligible for inheritance Senior homeowners can benefit from reverse mortgage eligibility only if they can take a loan against their home and repay the same in a timely manner. However, in case the homeowner passes away and the property is inherited by their children, who might not be in a financially sound position to repay the impending mortgage. The inability to do so can result in selling the property to repay the outstanding debt and in the process lose complete ownership. So before taking a reverse mortgage, homeowners must account for the financial status of the people who will inherit the home in the future. Sharing owned property People living on the property are forced to vacate it in case the owner is unable to repay the reverse mortgage.

Though debt such as student loans, car loans, and mortgage on the house is part of life, it does become a hindrance that affects your savings and future financial goals. As per the Federal Reserve, Americans owe more than $4 trillion in consumer debt, and this number does not account for mortgages. So, if you’re facing crushing debt and want to avoid bankruptcy, you can always engage the help of debt settlement companies. Here is a list of top 10 debt settlement companies that can help you in a financial crisis. National Debt Relief The National Debt relief offers a debt settlement service that lasts for around two to four years and charges a 15% fee. They cover all kinds of debts, including unsecured debts. Freedom Debt Relief With average fees and AFCC accreditation, Freedom Debt Relief is one of the oldest debt settlement companies in the country. They are present in 37 states and have been in operation for over 17 years. Guardian Debt Relief Guardian Debt Relief specializes in working with customers who have a debt of more than $10,000. They usually charge a 20% fee and a monetary fee of $200, which goes into the settlement account.

Financial planning is a daunting and technically challenging task. Its execution is more difficult without the help of a professional. And that is one of the main reasons why you should find individual consultants and advisory agencies alike to help guide you for proper compliance with regulatory agencies. It doesn’t matter if you are an individual or own and run a business organization, the following certified professionals rank highly among the best investment advisors in the country, representing your case. Certified Financial Planner (CFP) For a broad range of investment services, you can consult with a Certified Financial Planner. These professionals have a general understanding of all investment and financial portfolios. CFPs help in holistic planning and execution of the financial plan to generate the maximum rate of return by diversifying your investment. Generally, CFPs are qualified to provide sound investment advice for taxation, insurance, estate, and retirement planning. Note that CFPs must take several exams and stay up to date, especially in their areas of specialization to provide certain niche planning and advisory services. Armed with all the technical expertise and the latest know-how about financial services, CFPs rank at the number one position among best investment advisors. Certified Public Accountant (CPA) CPAs are experts in taxes and accounting.

Credit cards are a boon in these modern times and there is no denying that. A swipe, a touch, a tap, and everything is paid for (yes, you do pay for what you buy, but not until later.) So, what’s the idea behind these swipes? Who is actually paying for the stuff we purchase? Are credit card companies making money every time we use our cards? These are some of the questions that we’re going to try to answer for you. What is a credit card? A credit card is a plastic payment card that is designed to provide us with a certain amount of credit. This amount can be used to make purchases. The only criterion is that you have to pay the money back as per the credit card company’s policy. When you pay the money back, the credit is restored to its original limit. In a way, a credit card is like a replenishable loan. You can keep taking the loan as long as you pay the money back within the stipulated time period. How does a credit card work? A credit card electronically transfers money from one person’s account to another’s. To do this, there are multiple stakeholders involved, namely the issuer, network, merchant, and user.

A no-fee prepaid debit card is a type of debit card that provides more advantages than the typical prepaid debit card. The key benefit of this card is that users can load and use their money without paying any fees. Additionally, these cards also help limit one’s spending, thus preventing any potential financial crisis. However, one downside to this card is that some stores and service centers may not accept it. Features of no-fee prepaid debit cards Prepaid debit cards provide users with exclusive access to credit. People owning these cards can repay this used credit within a stipulated amount of time. The workings of a prepaid debit card differ slightly from that of a standard debit card. A normal debit card is used to withdraw money from one’s savings account. On the other hand, prepaid debit cards allow users to load money into their cards through several monetary avenues. Unlike a regular debit card, a prepaid card is not linked with its user’s savings bank account. In that sense, this card functions a lot similar to credit cards issued by banks. Additionally, prepaid debit cards come with several added fees, such as an activation fee, a card loading fee, a monthly fee, a fee for withdrawal from out-of-network ATMs, and a general withdrawal fee.

With cashless economies becoming the norm, debit card transactions have increased exponentially, and almost all major retailers across the country accept debit cards as a mode of payment. Their ease of use with other benefits and cashback options add to their appeal. Debit cards can also be used to withdraw cash instantly, which is especially useful when cash payment is the only option. Having the right debit cards is the key to enjoying maximum benefits. Empower Debit Card The Empower app, powered by AI and cutting-edge technology, has made finance management a breeze. It helps individuals with every aspect of financial planning, from investment and retirement to health savings. The company offers a cashback debit card, which provides 1% cashback on the first $1,000 spent using the debit card every month. Also, those who register for the card can additionally open a savings account. With the Empower Referral Rewards Program, one can receive a credit of $5 upon referring a friend to Empower. U.S. Bank Visa® Debit Card The U.S. Bank Visa® Debit Card has emerged as a popular, convenient option for users as it is accepted by millions of retailers in the country and has flexible autopay and recurring payment options.

Tax return filing is a strenuous process for many people. Although preparing tax returns may feel unpleasant, it is crucial to avoid making mistakes. While mistakes may not necessarily involve an audit from the Internal Revenue Service (IRS), they may invite additional penalties or smaller refunds. Due to these factors, it is imperative to be aware of the common errors people make when filing their tax returns and ensure to avoid them. Not following the latest tax news Changes in tax laws may impact how you file your returns. Therefore, it is essential to keep up with the news. You should know which tax return you are filing and have access to the most current information about the same. For instance, people over 65 qualify to file for Form 1040-SR, while non-resident aliens who earned their income through work efforts in the country during the tax year must file Form 1040-NR. Tax preparation software can help you choose the correct form. Being unaware of your filing status Knowing your tax filing status can help you save time and money. For instance, filing as the head of the household (someone who has a dependent and pays for over 50% of all household expenses) offers more favorable tax rates than filing as a single taxpayer.

As many parts of the world are steadily moving toward a cashless economy, debit cards are becoming highly popular and accepted modes of payment. These cards can be used for shopping at all major retail stores and withdrawing money instantly. Also, most debit cards offer lucrative benefits, such as rewards, cashback, and no annual fees. But to get the most out of debit cards, it is important to avoid certain mistakes. 1. Using too many debit cards As different banks offer different deals and benefits on debit cards, many tend to use multiple cards to benefit from a variety of offers. But such deals and offers come with additional fees, so, the more cards one has, the higher the aggregate fee one would have to pay. These extra charges can increase the expenses. So, it’s best to have a maximum of three cards to avoid spending too much money on fees. 2. Using debit cards for big purchases A debit card uses the funds deposited in the cardholder’s bank account. So, if one tries to pay an amount that exceeds the total balance in the account, the transaction may bounce. For this reason, it’s best to use a credit card for large transactions so that one can repay the amount flexibly until the deadline.