“They’re not saying the iPhone will . . . bring world peace, but that it will do everything else,” Roger Entner, of market-research firm IAG. Apple’s new cell phone debuts June 29. The quote above is from this week’s American edition of Newsweek.
I’ll need to apologize to the technowizards right away—this entry is not at all about the iPhone which did indeed debut this Friday. What intrigues me more is Mr. Entner’s pithy quote which, to my ear, pits “world peace” against “everything else.” This is a big part of the problem of creating world peace. Mr. Entner is not alone in holding world peace away from himself; lots of us do it. I’d venture to say that world peace sometimes feels as far away as the demi-planet Pluto.
Here’s the thing: it is that far away for as long as we hold it that far away. The flip side of that is: it is as near as we hold it as well. World peace is a huge concept. A lot will have to change in order for our small blue marble home to be thoroughly at peace. This is part of the reason people give up on peace.
The truth is much more accessible. World peace can start wherever one person in the world makes a commitment to peace. One person. And that one person has only really to commit to peace within herself or himself. This is the beginning of it. One person.
It’s okay with me if I’m that person right where I am. The thing that causes people to abandon peace is globalization. We say to ourselves, yeah, it’s all well and good that you’re committed to inner peace in Boston, but what about the Middle East? I truly believe that there’s someone right there who is also committing to peace for our planet.
What keeps me going in my commitment, and recommitment (because, believe me, I get impatient just like the next person and forget to be peaceful) is that I believe that eventually there will be enough “peace cells” that we will begin to sense one another, and in that sensing, we will link to one another, and soon that linking will create a matrix of peace. Then it will just be a matter of phoning it in.
Quick finance are short-term cash advances that are normally given to employed individuals to meet their emergency financial needs. Unlike other kinds of loans such as personal loans, these loans are unsecured, and you do not even need a guarantor in order to get one. Your salary will act as the security for the loan. The loan amount given by lenders is usually smaller than the salary, and the borrower is expected to repay at the end of the month.
Eligibility for quick finance
Lenders do not have a strict criterion, which they use to determine who should get these loans. It is very easy to qualify for quick finance. You just need to have a regular monthly income of about $1000 in order to be considered eligible. The other general requirements are that you must be at least 18 years of age, and holding an active bank account with the lender.
With some lenders, you do not even need you to have a bank account. As far as you are 18 years of age or older, you can get the loan. Therefore, quick finance are available to even to those without bank accounts. There are some lenders who even provide quick finance to individuals without jobs. However, such borrowers need to have a source of monthly income such as unemployment benefits in order to get a loan.
The difference between quick finance and conventional loans
Quick finance are designed to cater for unexpected financial obligations such as the cost of repairing a vital home appliance, paying emergency bills, car problems, forgotten birthdays and meeting any other unexpected financial outlays. On the other hand, conventional loans are designed for taking care of huge financial obligations such as funding a business, buying a car, buying a house, debt consolidation and so on.
The other difference is that while quick finance supposed to be repaid at the end of the month, conventional loans have a longer repayment period. Lenders are also very fastidious when giving conventional loans such as personal loans, unlike with quick finance. With quick finance, banks do not even conduct a credit check on the borrower. You can get a cash advance even if you have a poor credit rating.
The only downside of quick finance is that they have relatively higher interest rates than conventional loans. This is because finance companies consider these kinds of loans to be riskier than the conventional loans. You should therefore get one when you absolutely need it.
Quick finance are now available online
The application process for quick finance has become very easy and fast thanks to the internet. All major banks and financial companies that provide quick finance have websites where you can apply for one. The process is now very convenient, and you do not even need to get out of your office or home in order to travel to a bank hall and apply for a loan. All you have to do it to log onto the website of a reputed lender and fill in your details on the online loan application form provided. Once the loan is approved, the money will be credited into your bank account. The entire process can take less than 24 hours! With online quick finance application, there are no hassles,or waiting in long queues to see the loan officer. You should take advantage of these online quick finance whenever you have emergency financial situations.
What is a cash advance?
Cash advances have become increasingly popular especially with the recent recession. But before you consider taking a cash advance, it is important to understand what they are and how they work. Just as the name suggests, a cash advance is a fast cash advance payable on the next paycheck. Going by other names such as deferred deposit or cash advance, cash advances are regular cash advances designed to help borrowers pull out of a financial crisis.
Unlike other standard loans, cash advances are easy to get because they just require a proof of a regular income. They are unsecured loans and one need not undergo a credit score test nor attach a house to get a loan. The source of the income, whether from government benefits or employment, does not matter. They are designed to cater for the emergency or unexpected expenses. Normally, the money should be in your bank account within 24 hours. The main shortcoming of cash advances is that they are costly due to the large fee charged, and regular customers run the risk of becoming dependent on them.
Who qualifies for a cash advance?
Apart from few government restrictions such as age - person below 18 years of age - cash advances are available to anyone with a regular income. The type of job, either in government benefits, self-employed, part time, or full time does not matter. However, with an effort of controlling cash advance industry, various local governments have placed a ceiling on the maximum amount a person can borrow at a go and also the maximum that a lender can charge on specific amount. Local governments also have restrictions on the number of times you can take a cash advance within a given period and also outlaws previous defaulters from qualifying for other loans. Depending with the local rules, there is a limit on the percentage of the income that a borrower can commit to cash advance.
How does the process of cash advance work?
Lenders have made the process of acquiring a cash advance simple and attractive. What the borrower is required to do is to write a postdated check to the lender instructing the latter to withdraw the cash directly from the former bank account. The borrower expects the money to be in the bank account latest by the next payday. Of course the lender will have verified that you have a valid bank account, a regular income and where you can physically be traced before issuing out a loan. A loan is always given less the fee charged on it. Most loan term runs for fourteen days but there can be a maximum term extending even to thirty days depending with the local government rules.
Alternatives to cash advance
It is advisable to explore all other possible and cheaper alternatives before settling on cash advances. Borrowers need to be aware that cash advances are extremely expensive to service and they risk becoming dependent on them especially when they operate under a tight budget. Possible alternatives include credits, either from credit unions or credit banks, overdrafts or credit card cash advances.
If you are nearing your next payday at work and your cash reserve is dwindling. You need to meet a few urgent and unavoidable expenses that cannot wait until your payday. You look for several alternatives that may include appeals for help to friends and relatives but unfortunately no help is forthcoming.
Blessing in the form of online loans
There are lending companies that offer online loans to people like you who cannot meet financial exigencies at certain times. As the name indicates, online loans are loans given to people who undertake to repay the loan by the next payday. These loans do help people in their trying times, but you need to exercise extra caution while taking such loans.
Eligibility for taking online loans
You will be eligible for a payday loan if:
You are eighteen years and older
You have been working in the current job for at least three months
You have a running bank account that has had active transactions in the last three months
You have a minimum salary of $1000
Advantages of online loans
Comes in handy at the right moment when you need funds urgently
Instant relief from worry in times of financial crisis
Straightforward dealing with a company without having to beg or borrow from a friend or family member
They can be repaid on the next payday, so you can heave a sigh of relief without having to experience the stress of a long term loan
No collateral security as they are unsecured loans, so you don't have to worry about pledging your assets
You don't have to pay any upfront fees for the payday loan
Application can be submitted online
Least processing time
Requirements are very few as they are short term loans
Loan gets credited into your bank account as soon as you complete the loan formalities
Disadvantages of online loans
Very high rate of interest
Inability to repay by the next payday will allow extension of the loan but this will attract a very high rate of interest, so the amount you pay as interest may actually surpass the loan amount in the long run
Non-payment or delayed payment of the loan will reflect on your credit rating and may pose difficulties when the need for a loan arises in future
Only a temporary solution to your financial problems
The need for taking online loans arises when you do not have enough cash reserve or if you have been living beyond your means. Of course, there do arise critical times in everyone's life. Taking a cash advance is not bad if you are in a real emergency but you need to make sure that you repay the loan in time so as to avoid increased fees for the extension of the loan.
You should also learn to live within a budget for living life prudently is the way to go. We may conclude that online loans do lend a helping hand in times of need.