Ever found yourself in a tough situation at home or at work? Can’t make repayments on your mortgage or items that you’ve borrowed? Haven’t got that next paycheck which you so desperately need in order to survive for another week? Simply in need some money to make it through. More than often, every person at some point or another will reach financial hardship due to the ever rising cost of living, not just in one particular place but in many countries all over the world. Not all of us are endowed with mountainous fortunes, family estates or illustrious inheritance. For some, if not most, the prospect of guaranteed loans is what helps to keep them alive and kicking as they struggle through the financial burden and hardship. The promise of an alternative party to assume the debt obligation not only helps for them to assume business but also lessens the stress for the borrower. All in all, this can be seen as a positive in some aspects; however it is naïve to think that there are no possible downsides or repercussions as a result.
Loans were not always a part of everyday life. Previously people would buy what they could afford and banking was much simpler. Placing money in the bank was purely as a safe deposit and to allow for the banks to provide small term loans to small businesses at reasonably interest rates. Nowadays, the system has grown, becoming much more money driven and willing to squeeze and manipulate every individual in a quest for money. More and more people are inclined to borrow money, and with the growing scepticism of those offering to support their borrowing obligations, being assured of guaranteed loans are almost crucial in finding the right amount and being able to sustain the financial burden for which a loan is required. Not only are there businesses being set up purely to provide loan guarantees to individuals and small businesses but also government entities who are willing to offer their services to the general public. Countries such as the United Kingdom and the United States offer government loan guarantees, mainly to assume a private debt obligation if the borrower defaults.
The United Kingdom has set up programs and agencies to help with financial burden, such as Small Firms Loan Guarantee. The United States also has its own initiatives such as VA Loan, USDOE and Small Business Administration. These were established to correct perceived market failures which come as a result of borrowers having a lack of credit resources to facilitate their spending, which would otherwise be available to large borrowers. On the premise of providing a loan to everyone, these loans would also be provided regardless of the creditworthiness of the small borrower.
Business catering to such needs have even expanded to online resources. There are no limits on the outlets which you can acquire a loan on any period you wish. These businesses have begun to expand so vastly that they also offer a variety of services in which they cater to the borrowing needs of the borrower. Securing finance with poor credit or no credit, credit cards and also debt consolidation are all available to help pull you out of a rut and get you back on the right track. There are a lot of resources that offer guaranteed loans, however, it is always best to consolidate your own resources and take the time to investigate every option before making a final decision. Managing finances can be hard, but not when you have the power and resources to make a change for yourself and get your money and life back into the positive position it deserves to be.