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Source : THE DONG-A ILBO

Jul 2010

Seul, South Korea, July, 24 2010 – An investigation into finance companies began Friday after President Lee Myung-bak complained a day earlier that the companies are charging high interest rates while visiting a branch of a micro-finance foundation.

After a meeting with chief directors of micro-finance foundations at the Bankers Club in Seoul Friday, Financial Services Commission Chairman Chin Dong-soo told reporters that a probe will begin into finance companies imposing high interest rates on loans to individuals and devise countermeasures.

“A 30-percent interest rate is very high,” he said. “Through an in-depth investigation, we will devise measures to ease the burden on the working class.”

“The main operations of finance companies are leasing, installment financing and providing auto loans, but unsecured loans account for a significant share of their operations,” he added. “This means demand for livelihood funds and emergency loans is high in the market, but interest rates in the 30-percent level is excessive.”

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The marketing share of unsecured loans among finance companies is around five percent and the amount of extended loans is about three trillion won (2.5 billion U.S. dollars). The interest rate on loans for … Read the rest

Credit Card Debt Consolidation services can make it happen, and there’s no doubt about it. There’s no reason to delay and nothing to lose. Credit card debt consolidation can also help you avoid creditor harassment , one of the main elements that trigger stress induced health problems. Credit card debt consolidation usually makes the combined balance more manageable especially if a lower interest rate is provided. But, if there are multiple other accounts involved that were not part of the consolidating effort, it may take some time to get them all reduced to a manageable level.

Typically, when a customer buys a product with his card or uses his card as an alternative for hard cash, he is offered an interest free credit period. The customer has to make a payment for the credit used on the card before the credit period ends. Typically, debt consolidation programs are debt repayment programs. They can consolidate most types of unsecured debts from major credit cards to personal and student loans. Typically the interest on a debt consolidation loan is approximately 17-23%. That?s a hefty amount of interest that may actually be more than you are currently paying on your debt.

Bad credit … Read the rest

We are living in 2010, practically everyone is using the internet, can we agree on this? Great! Now that we have covered that lets look into Internet and Small Businesses and Website Design for Small Businesses shall we?

A recent study shows interesting statistics on small businesses and the internet, to be exact small businesses with or without websites.

The study reveals that 49% of small businesses currently have a website. Now that is all fine and dandy but if we look a little bit more in depth we can see very interesting statistics:

The percentage of businesses that have a website by their annual sales size:

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45% of companies that make $100k-$499k a year have a website.
49% of companies that make $500k-$999k a year have a website.
69% of companies that make $1.0 Million-$2.49 Million a year have a website.
67% of companies that make $2.5 Million-$4.49 Million a year have a website.
73% of companies that make $5.0 Million-$10.0 Million a year have a website.

So what can we learn from this? The more money a company makes, the more prone they are to have a website? Or looking at it from a different angle we … Read the rest

When obtaining a business loan for a pawn shop or related pawn brokering business, it is imperative that you have a properly structured business plan that will assist you in showcasing how you intend to operate your pawn shop, how the business will operate, how you intend to market the business, the anticipated financial results of your company, and how you intend to repay your debt obligations. This sample loan business plan will provide you with the framework that you need in order to acquire a business loan for starting or expanding this type of business.

When obtaining a business loan for a pawn shop, it is imperative that your business plan has a clear and concise executive summary that provides an outline of what are seeking to accomplish, how much capital you are seeking to raise, the management biography of the business owner, and an overview of the anticipated profit and loss statements of the business. Here is an example of how the title paragraph should be written:

Pawn Shop, Inc. (“the Company”) is seeking a business loan of $100,000 in order to launch the operations of a pawn brokering business that will be … Read the rest

Most of us put in a lot of effort in order to protect and prolong the lives of our assets like home, car and other vehicles, and most of all, health and life. While insurance is a very prominent part of this process, people often back out from this crucial step, often due to the need on their part to shell out a huge amount of money. Majority of insurance plans are very expensive, whether it is motor insurance, life insurance, health insurance, or any other form of asset insurance. One major factor involved with insurance plans is the huge expenditure involved, and the additional hassle of the extensive paperwork is where most people think they have had enough of it all, thus deciding to stay away from insurance plans. Well, cheap insurance plans have changed this scenario!

Cheap insurance has brought in a whole new revolution, no one can be truly relaxed and tension free without insuring their assets. For example, if you own a car that is still uninsured, then you will always be worried about its safety, and would not be liable to any compensation or claim if it gets stolen or damage. Why take a risk … Read the rest