Getting a Personal Loan in Australia – Part 2 of 2

This blog is Part 2 in a 2-part series. In the first part, we mentioned all the types of personal loans that may be available to you. This post will tackle the application process so you can increase your chances of your getting your loan request approved. We’ll also explain how you can ensure that you don’t pay more than you need to. If you missed Part 1, check it out here.

Getting a Good Interest Rate for a Personal Loan

As mentioned in the first blog, there are seven types of personal loan you can apply for. In addition to allowing consumers to finance large purchases, this type of credit can be used to consolidate high-interest debt from credit cards and other loans or debts. Since most personal loans offer lower interest rates than credit cards and installment payments, a personal loan can lower your monthly payments.

Hence, to really get good interest rate, evaluate the following before taking on a personal loan:

1. The principal of the loan

This is the amount you plan on borrowing and the amount on which the interest will be calculated. This amount will be divided into equal monthly payments. These payments are called principal payments because it will go towards paying the total amount that is owed.

2. The interest rates

As with any type of loan, you will have to pay monthly interest charges. This charge will be separated from the principal and you will be able to see which part of your monthly payment is used to pay the interest and which part is used to pay off the principal. You will want to find an institution that offers competitive interest rates on personal loans. But when shopping around, remember that the more your credit history is pulled by lenders, the more hard inquiries will show on your record. Hard inquiries can negatively impact your credit score.

3. The annual percentage rates

The annual percentage rate, or APR, represents the actual yearly cost of funds over the total cost of your loan. It includes the interest rate, potential broker fees, and any lender fees over the term of a loan. This will also impact the total amount you will owe to the bank or the lender.

4. The loan terms

The loan term can be defined in two ways. It can either mean the length of time that you have to repay the loan or mean the number of installments needed to pay off the loan. Sometimes, a short loan term means paying less in terms of interest.

Hence, for good interest rates, you want to borrow only the amount you will really need. The higher the amount you borrow, the higher the interest will be, and the greater the chances of having a longer loan term.

You can also decide by which year you want to repay the totality of the amount borrowed and calculate your monthly repayment according to that deadline. If you can afford to pay more, do it. The shorter the loan term, the less the interest and the annual percentage rate.

Applying for a Personal Loan

Whether you are an existing customer or not, lenders and banks will require a list of documents to verify your identity, residential address, income, employment, and personal finance details.

1. Identity verification

Below is a list of items that can serve as proof of your identity. You’ll usually be required to produce two items for identity verification.

  • Current driver’s licence
  • Learner’s licence
  • Passport
  • Australian birth certificate
  • Australian citizenship certificate
  • Australian marriage certificate
  • Proof of age card
  • National Identity Card
  • Pension card or health care card
  • Department of Veterans pension card
  • Australian higher education student card
  • Australian Public Service employee ID card

2. Residential address verification

Documents that you may require include utility bills, mobile phone bills and bank statements. The proof of address you will submit must

  1. must not be older than 3 months
  2. must show your name
  3. must clearly show your residential address

Additionally, a utility bill will only be valid if it has been issued by a Local Government or utility provider.

3. Income and employment verification

The list of documents for this verification will depend on the source of your income.

i) If you are an employee:

  • Latest three month’s salary slips
  • Annual salary after tax deductions
  • Bank statements (where salary is credited) for the last three months

ii) If you are self-employed:

  • The tax returns from the last 1 or 2 years
  • Your Notice of Assessment (issued within the last Financial Year)
  • Business bank statements for the last three months
  • Proof of continuity of business

iii) Rental income

  • The tax returns from the last 1 or 2 years
  • Your Notice of Assessment (issued within the last Financial Year)
  • Business bank statements for the last three months

4. Other financial information

You may also have to submit:

  • Credit card statements
  • Loan statements if you have current loan accounts
  • Information about your assets
  • An estimation of your current expenses

Lending money comes with a lot of risks. Banks and lenders require all this information to evaluate any potential risk of the borrower defaulting on their loan obligation. Hopefully, this 2-part series has been helpful to you! Good luck with your application!

Getting a Personal Loan in Australia – Part 1 of 2

If financial constraints are the only thing standing in the way of your dream or an important, we may have the perfect solution for you. Below is everything you need to know about getting the right type of loan for your needs:

Why Get a Personal Loan?

There are some instances in life that can prove to be very tough on your budget. Those instances can include sudden medical emergencies or urgent home repair and can completely drain your entire savings.

Or there might be a once in a lifetime event or opportunity that you don’t want to miss at all cost, but don’t have the funding for it. Since banks will not ask for the purpose of the personal loan, you can use that loan to assist you financially or save you from a tight spot. Personal loans can help you with:

  • Easing financial stress
  • Converting several loans into a single one (called debt consolidation)
  • Home renovations
  • Buying household goods and furniture
  • Buying a computer, laptop or other electronic equipment
  • Going on an exotic vacation
  • Supporting home loan repayments
  • Help with school fees
  • For the balloon payment on your lease

Five Advantages to Taking a Personal Loan

  1. If you choose to take an unsecured loan, you can bypass tangible collateral like mortgages and car loans.
  2. Repayment options are generally small and cover a relatively short period of time.
  3. Sometimes the interest rate is negotiable.
  4. Certain banks or financial institutions offer better interests on personal loans than on credit cards.
  5. It is possible to get a loan with a fixed interest rate repayments throughout the life of the loan.

7 Types of Personal Loans

Depending on your needs and financial situation, you can choose from a number of personal loan options. The most common types of personal loans are as follows:

1. Variable Personal Loan

Since variable personal loans levy adjustable interest rates, they are perfect for people who want to benefit from lower interest rates. The most considerable advantage of this type of loan is that it offers borrowers the possibility of making higher payments. The overpaying can lead to you paying back your debt earlier. This occurs because on some months the interest rate may be lower than others, hence making your monthly repayment higher than what it should be.

2. Fixed Personal Loan

The one risk that comes with variable personal loans is that the interest rate can rise, leading to higher monthly repayments. You can skirt this whole issue by choosing to get a fixed personal loan. Since it has a fixed interest rate, the repayments will remain constant for the entire term of the loan. Hence, this type of loan not only offers stability but can also simplify budgeting all because the monthly repayment amount stays unchanged. However, you will not be able to clear this loan as early as you would with a variable personal loan because you cannot make extra repayments towards your fixed loan.

3. Secured Loan

Loans are called ‘secured’ when the borrower offers some assets to be kept as collateral with the lender or financial institutions. Personal vehicles, personal real estate, a plot of land, investment accounts, savings account, and even jewelry and fine arts can be put up as security to borrow a certain amount of money. If the agreed repayments are not made, the lender will acquire the asset and can sell it to cover the cost of the loan. The advantages of getting a secured personal loan are that you can get a lower interest rate and borrow more money.

4. Unsecured Loan

Once you know what a secured loan means, it’s easy to understand what an unsecured loan is. Essentially, you will not be providing any asset as collateral for the amount you’ll be borrowing. However, if you want to apply for an unsecured loan, you’ll have to be able to prove that you have a regular income. The lender needs this evident to ensure that the borrower will indeed be able to repay the debt. However, you’ll probably get less than you would have you offered an asset.

5. Overdraft

Overdrafts, also known as a line of credit, are attached to checking accounts. If you’ve been approved for this type of add-on, the overdraft will help you in case you face an emergency and require urgent cash. It not only allows you to withdraw an amount, but it also protects you from missing payments. Interest payable on this type of loan is only on the amount borrowed.

6. Student Loan

If you are a student or a parent looking for a loan that will cover the course fees, living expenses, textbooks and laptop fees of your child, fear not! Many financial institutions in Australia offer student loans to help ease the financial burden of university goers. Instead of working part-time to earn minimum wage, you can sit back, focus on your studies and worry about your repayments once you’re done with your degree.

7. Debt Consolidation

Debt consolidation involves taking out a loan to repay and combine all other loans you already have. It is a type of refinancing that will not only simplify monthly repayments but also decrease the amount you have to pay thanks to the lower interest rate. Hence, debt consolidation can help you save money and reducing the loan term.

This post is Part 1 of a 2-part series. Part 2 can be found here.

Indian Wedding Decor: Do’s and Don’ts

Planning a wedding ceremony can be stressful and eventful, but if you are planning an Indian wedding, then do get the help of a wedding planner. Indian weddings are big affairs where everyone is concerned, and when I say everyone, I mean everyone! From the bride’s mother’s sister’s nephew’s cousin to the groom’s dad’s cousin’s in-laws’ sister’s nephew. Well, that is no exaggeration, it’s just how it is even if the wedding does not take place in India. These weddings are galore of rich celebration that includes a lot of decoration, a plethora of flavorful dishes, and entertainment that is worth every second of this glam. Indian weddings do require that you take a week off from your routine to make sure that you do not miss any event. Weddings can be of different types and themes and also differs as per the cultural backgrounds. For example, in a Punjabi wedding, you can expect a lot of music and enjoyment, a Bengali wedding is more tradition focused while partying is still not ignored. Well, attending an Indian wedding should certainly be in your bucket-list. Here is a blog on the do’s and don’ts for Indian wedding decor.

The Do’s

  • Use flowers – As a decorator, you should know that Indian weddings and traditions require flowers as a mean of decorating everywhere. From the stage to the bedrooms, everyone expects to see different flowers hanging all around. Oh, if the theme of the wedding is floral, then do go haywire on the flowers and decorate everything, but please don’t overdo it! Remember, an Indian wedding is totally different from all other marriages. It is important that all flowers be fresh as it adds elegance and beauty to the wedding atmosphere.
  • Use eccentric decors – Go for unique Indian wedding decors to make the wedding look different. Plan for something that is not found anywhere else! Visualize and finalize everything with the to be wed couples as it’s their day. Eccentric decors should fit in the theme of the wedding such as you can have an ‘Indianized’ photo booth and a rangoli corner.
  • Go for bold colours – From drapes to dresses, adopt bright colours as it represents the sense of an Indian wedding except if the couple wants the wedding to be in neutral and warm colours. It is important to know that each color has a special significance, and the decorations are centered on that particular color or colours. Remember that everything from the wedding invitation to the table centerpieces should be colour-coordinated. When it comes to Hindu Indian weddings, red and gold are the most adored color as it represents a mixture of tradition and opulence as the bride’s attire is often red. However, there is also the trend of adopting pink, lavender, royal blue, and green coloured attires.
  • Have different setup for different ceremonies – The good thing about an Indian wedding is that you won’t be bored with the same look all every day. Loaded with a long list of rituals, the décor should certainly have a different setup that is according to the ceremony meant for the day. For example, the ‘Mehendi’ ceremony is totally different from the ‘sangeet’ ceremony, and the stages should be differently decorated.
  • Go according to the theme – Go with the theme decided by both the bride and groom! It is entirely on the decorator to ensure that whatever theme has been chosen should prove timeless for everyone. As a planner, you can try to keep the overall look of the venue sophisticated and chic so that the wedding does not look like a circus.
  • Use a lot of lights – As a decorator, you should totally focus on the lights as it plays a crucial part in how the wedding will look. Make use of small lanterns and soft lights along with marigold and mogra flowers. Do have a chandelier to make the wedding look grand and one of its kind. As most Indian weddings are celebrated at night, lights are very important. You can choose to have Indian jhumars or chandeliers to turn the event more chic.
  • Get the best caterer – Indian weddings are incomplete without the typical Indian delicacies. So be sure that you get the best caterer who can cater to your needs in the best possible way. A wedding planner is responsible for everything, from snacks to be served on the Haldi ceremony to the reception.

The Don’ts

  • Don’t make it look messy – It is essential that everything looks good, even great, but please don’t overdo it! It will ruin everything and make the wedding look like a show.
  • Do not copy – You can get inspired by celebs’ weddings but do not, at any cost, copy the same décor from their weddings.
  • Do not forget the idols of Gods and Goddesses. It is essential that every Indian wedding have these idols as it represents that Gods have come to the wedding to shower their blessings.
  • Don’t forget to have the wedding tray prepared along with turmeric, kumkum powder and the beetle nut and leaves. Also, the garlands for everyone from the groom side is essential as it is how guests are welcomed to an Indian wedding.

If you want to have your wedding planned and decorated by the best, then head to Xclusive Designs in Etobicoke, ON. As professional wedding decorators, they ensure that everything is up to your expectations from day one until the end. Contact them; they will be glad to help you out!

Social payment is the new means of exchange that can overtake all other payment methods

Social payment is most probably the future of all monetary transactions as we spend an awful amount of time on social medias interacting with friends and keeping up on the latest news (or gossips). We share moments, create memories and keep in touch with friends abroad through the social networks. And it is in those shared moments and intimacy that social payments make its entry, creating an environment where friends can share gifts, transfer money and split bills by the simple click of a button.

Social payment makes life simpler

Social payment makes life easier for sharing and splitting expenses. Be it sending or receiving money, it is the smart association of social media features combined with monetary transactions. Armed only with a smartphone, you can share ticket costs with friends, transfer money to their bank accounts and make online payments, all through a social media app. And the best example of this is, one of the first chatting apps to offer chatting features with monetary exchanges.

Social payment has changed the way we communicate

Since the advent of the internet in the early 1990’s, e-commerce activities have drastically increased. It changed the way people communicate and trade with one another, and opened this vast web of possibilities for businesses to reach potential customers. Consequently, when the first social medias started making their apparition, it was only a matter of time before brands and advertisers seized this opportunity to make business. But it was not business as usual as they had to stay within the parameters of the social medias, letting customers enjoy conversing and sharing with friends whilst making monetary transfers and payment.

It is a practical tool for consumers and businesses

Social payment is a useful tool for both buyers and sellers. On top of being simple, it increases the connection and interaction of consumers with their favorite brands. More importantly for businesses, users of a specific app or those who prefers a particular brand will definitely share with friends and/or relatives. And it is this constant, almost systematic, sharing on social media platforms that most of the time increases brand visibility and drives sales.

The technological revolution is affecting digital payments

With the growing omnipresence of smartphones and the internet around the world, more and more people are becoming interested in social payment methods. In fact, many banking institutions are associating with private companies to facilitate payment services by proposing modern solutions. For example, innovative apps like Moneymailme offers users a combination of chatting and the possibility of transferring money to friends in a fast and secure way. They offer immediate money transfer with a simple tap on their smartphones.

Social payment is shaping the way consumers transact

This simple and yet fast payment method is affecting the way we deal with each other on a daily basis. In urgent situations, you can send or ask money from your loved ones through chatting apps. It can be really helpful when shopping for groceries, clothes or any other item that is valuable to you and your friends. In fact, this new way of transacting helps friends share their shopping experiences with one another, especially if you both have the same social payment app.

Digital payment apps can satisfy the most demanding customer expectations

These modern social payment apps can satisfy almost all your requirements. On top of being a chatting app, it offers instantaneous payment solution to shoppers. With a quick scan of the QR code, you can buy a wide variety of products ranging from electronic devices, shoes to coffee. You can even transfer money to your friend’s account to cover half of lunch or any kind of expenses you want to share with your partner immediately.

Social payments can boost consumption

Indeed, with all the customer’s transaction-data available, sellers can find ways of increasing sales by offering discounts and coupons to clients. It can be a win-win situation, benefiting both consumers and producers. In a way, it can be viewed as a healthy and cost-effective method of driving sales and satisfying customers.

It gives people a chance to contribute to charity

Social payments can make a difference in other people’s lives. You can contribute to charitable causes by a simple click of the button. Moneymailme makes it possible for users to help those in need around the world. They have partnered with GlobalGiving, a charitable organization that helps connect donors around the world for building sustainable projects, to facilitate the process of transferring the money you are donating, to the people who need it.

Social payments have become more secure

Social payments are safer and more secure than most people think. Not only is it less risky, but online transactions are becoming more and more popular. Thanks to the modernization of digital technology, the cyber-security landscape has changed for the better. Most social payment apps have properly secure channels for monetary transactions with stronger authentication protocols. You can conduct payments and transfer money in a hassle-free, knowing that it is safe and fully secure.

What Are Skip/Hook Bins and Why Would You Require One?

If you are sorting out your garage, working on some home renovations or landscaping and building projects, then hiring hook bins can offer a cost-effective solution for your waste removal. You won’t need to go to the tip, hire or borrow a truck, or trailer.

No matter what your home project is, there is a range of domestic size skip/hook bins for your home that is affordable, delivered fast and reliable. All waste collected is taken to the local transfer station to be processed, to recover materials which can be reused or recovered.

In this post, we will go through the difference between Hook Bin and Skip Bin, and the types of hook bins that can help you to find out which one would be more convenient for you.

Difference between Hook Bin and Skip Bin

Hook Bin

A hook bin is bigger than a skip bin and is ideal for companies in the building and construction industry. The hook bin is pulled with the help of a hook arm and loaded on a truck, and then transported to a location for disposal.

Skip Bin

Skip bin is not to be confused with wheelie bins that are emptied into a bin lorry. Skip bin is often used to dispose of waste at a landfill site. It has a large open-top design and is loaded on a special type of lorry. It is most popular for industrial waste management.

Builders Bins

Builders bins are more convenient for rubbish removal from building and construction projects.

They offer a quick turn around time, and you will be able to get rid of all the rubbish in a short time.

There are also smaller skip or larger hook bins for smaller or larger renovations, demolition work and property development. The waste collected is then taken to the local transfer station to be disposed and processed, with the intent of recovering materials which can be recycled.

Commercial Skips and Hook Bins

Commercial skips and hook bins are used for commercial projects like rubbish removal from building and entrepot, office fit-outs, office clean-ups, business relocation, or general factory, storage warehouse and yard clean-ups. It is one of the most cost-effective and convenient solutions to collect and dispose of your bulk waste at a landfill site – including here also, the aim of recovering materials which can be reused or recovered, allowing you to focus on your core business. If you are looking for waste bin professionals in Sydney, Empire Skip Bins is a reliable and straightforward waste bin service provider.

Waste Management Solution

With a more prevalent awareness of the environment, procedures in all industries are stepping up with an approach to a greener future. If you are looking for a company with a material recycling facility and a focus on the environment, Empire Skip Bins is a company that aims to recycle as much waste as possible.

Scrap metal recycling is available for ferrous metals including iron sheets, scrap iron bars, white goods, motor vehicle parts, scrap beams, or steel roofing. You might also need to dispose of non-ferrous materials like aluminium, copper, brass, stainless steel and lead. The company that you hire should have a network of recycling plants to enable the scrap metal to be processed for further reuse.

Waste Management Solution – Timber

You may need hook/skip bins that provide dedicated timber recycling bins for collection and processing at your local transfer station. And, subject to inspection and qualification, most timber can be processed into woodchip for gardens, mulch or as an input into manufacturing processes. As such, you will need a company that knows how to explore your waste removal needs to recommend the most appropriate bin at a competitive price.

Waste Management Solution – Concrete and Brick

Concrete and brick recycling can be handled through a collection of separated concrete and bricks on-site. The brick and concrete that are recovered from mixed waste streams can then be processed at your local transfer and crushed into re-usable materials.

Alternatively, you may use your trucks to carry your waste, and in that situation, you can consider buying your industrial skip bins. Empire Bins supply skip bins to all suburbs in Greater Sydney.

Waste Management Solution – Paper and Cardboard

Very often procurement managers would consider hiring a hook/skip bin for collection and processing of larger volumes of paper at nearby recycling facilities.

Other Commercial Waste Services

Very often Facilities Managers have commercial waste requirements including Metal recycling, Medical Waste, Liquid Waste, Effluent and Septic Pump Outs, Grease Trap Services, Secure Document Recycling, Timber Recycling, Front Lift and Mobile Garbage Bins, Industrial Services, Specialised Compaction Units.

Waste Management Solution

Waste management solutions cover the main areas of Hook bins supply, Rubbish removal, Waste disposal, Waste recycling, Waste recycling facility, among others. Waste management can be something hazardous if left in the hands of amateurs. Only a professional like Empire Bins can help you keep your waste and everything that comes in its way, including the bad smell and hygiene risks. Most importantly, waste management should not hinder the growth of your business.

All in all, when you are looking for waste management experts, you should no longer have to worry about anything related to your waste disposal as they should be able to handle the matter in an ethical way.

Considering Becoming a Licensed Doctor in the US? Here’s Everything You Need to Know!

Each country has its own requirements for someone to qualify as a doctor. To help you in your path towards becoming a physician in the US, we’ve prepared a step by step guide for you to follow:

Step 1: Complete grade 12

Without a High School diploma or GED, it will be almost impossible for you to become a doctor. The better your marks, the higher the chances of you getting into a good college.

Step 2: Earn a college or university degree

In the US, the medical school admissions board requires that all aspiring doctors get at least one bachelor’s degree. Although there is no mandatory undergraduate degree prescribed, it would be better to get a degree that complies with medical school premed requirements.

Step 3: MCAT exam

If you are interested in becoming a physician, you should register for and take the MCAT. The MCAT, short for Medical College Admission Test, is a standardized, multiple-choice examination. It is used by admission committees to determine whether the student is likely to succeed as a doctor.

Step 4: Medical school application

Most students start applying to medical school during the summer after their junior year. Like them, you can choose to apply after your junior year or choose to a year off in between.

Once you’ve made up your mind about the medical school you want to attend, submit your application to the American Medical College Application Service (AMCAS) who will then transmit your application to each relevant institution. The AMCAS is a national application processing service from the Association of American Medical Colleges.

Step 5: Attend medical school

Complete a four-year full-time training in medical school. You will spend this time studying content-heavy material in class and do clinical rotations to apply your acquired knowledge and develop your skills in a wide range of areas.

Step 6: Attempt part I and II of the USMLE

USMLE, or United States Medical Licensing Examination, is a three-part examination. Before even entering your third year of studies, you will be expected to pass the first part of the exam. The second part of the exam has to be taken during your fourth year.

Although both papers include multiple-choice question papers, part I of the test covers medical principles, while part II covers clinical diagnosis and disease development.

Step 7: Choose your medical specialty

Whether you want to specialize in pediatrics, obstetrics, or emergency medicine, you will be expected to apply for residency in that related field. Your application will then be matched to all open residency programs throughout the country.

Step 8: Start residency

Once you’ve graduated from medical school, you will need to start a residency program. You’ll generally be expected to complete a 3-year residency program to get thorough training in your chosen specialty.

Step 9: Pass part III of USMLE

Complete the final part of the United States Medical Licensing Examination – this paper covers scientific concepts and will test the physician’s competence at practicing medicine. Considering the importance of the USMLE to your career, we’ll cover this in more detail below.

At this stage, you will also be expected to complete your residency.

Step 10: Board certifications

Out of the 24 specialty boards that certify physicians, you must obtain a certification in your chosen field. You may need to complete a written and oral examination to earn this certification.

Step 11: State license

Apply for a state medical license so you can start applying for jobs and kickstart your career.

Step 12: Job Application

You are finally ready to become a doctor. One last thing to do: Apply for jobs. You may have to begin with a residency, which will be converted to a full-time position. Do not despair, many doctors go through the same procedure.

Understanding the United States Medical Licensing Examination

Part 1:

The first step in a series of test, this part of the examination is a digital examination that consists of 350 multiple-choice questions. The exams span a total of 8 hours and is split into seven one-hour blocks. You are given one-hour blocks to answer a series of 50 questions. 

The minimum score to pass is 194.

Part 2:

This part is conducted in two phases: the 2CK and 2CS. CK stands for Clinical Knowledge while CS stands for Clinical Science. While the 2CK is a paper that lasts 9 hours and consists of 370 multiple-choice questions, the 2CS paper lasts 8 hours and consists of 12 standardized patients, with only 11 being scored. The minimum score for a 2CK is a 209, while the 2CS has no minimum score – you either pass or fail.

Part 3:

The final part of the exams spans a total of 16 hours, which is split into 2 days. It consists of 480 multiple choice questions and 9 clinical simulations. The minimum score to pass this exam is 190.

The Types of Insurance Businesses Ought to Get

Do I need to get insurance for my business?

After investing so much time, money and resources to build your business, it would only be natural to want to protect it from any potential legal liability. From the space you occupy, to the people you employ, you want everything to be safe and secure. Business insurance not only provides cover costs associated with property damage, but also provides cover against risks that are unique to the business.

If you don’t have insurance for your business, you are most likely not alone. Many business owners seem to believe that insurance is just an unnecessary luxury. They’d rather convince themselves that nothing bad will ever happen to their business than commit to monthly or annual premiums. This is not a strategy we would recommend though. It would be better to play it safe and get insurance rather than having to face a financially devastating scenario. A single legal action or injured employee can lead to business owners having to pay out-of-pocket and possibly ruin a small business before it even has a chance to gain momentum.

Why do I need to get business insurance?

In most countries it is required by law to get insurance for your employees. But it may not be compulsory for insurance pertaining to the business itself or its activities. Nonetheless, as a business owner, you should plan for events such as catastrophic natural disasters or facing claims or lawsuits against the business or other employees.

In almost every state a certain amount of insurance must be held for employees operating under your business, such as workers’ compensation insurance. Covered risks under a business insurance policy include theft, injured workers’ lost wages, and more. If your business does not have a business insurance policy, the costs may come out of pocket. In some cases, this can completely ruin your business if you do not have the finances. Below are more reasons for getting insurance:

1.       To protect yourself from lawsuits.

Even though you may think you have the best clients who would never sue you. For example, litigation is often used to protect or identify liability. It might be a strategical move that a client can employ to eliminate their liability. And if you are not insured, you might end up paying hefty legal fees to defend yourself.

2.       If you have invested heavily in equipment, property, or inventory.

A business insurance policy can offer protection on your investment in merchandise and may also protect your business in case of theft or damage. If you get coverage on your investment in infrastructure, you make sure that your business can change or repair property speedily.

3.       If you have contracts with your clients.

Even if your contracts with your clients are solid and ironclad, it does not discount the possibility of having to go to a court of law. Complications happen, and since contracts do not solve every conceivable problem, sometimes lawsuits become unavoidable. Insurance will come in handy in this situation.

4.       If you have employees depending on you.

Having employees is the number one reason for getting business insurance. This is mostly for legal reasons. Consider purchasing insurance policies that protect your employees’ livelihood such as liability insurance.

5.       If you want peace of mind.

Since wishful thinking is not a real plan, consider taking responsible actions such as getting coverage. If you want peace of mind and want what is essential for the longevity of your business, you’ll want to protect your business from factors that are outside of your control.

What are the types of business insurance available to businesses?

1.      Property Insurance: 

Property insurance comes in handy if you own your building or have business property, such as office equipment, computers, and inventory. This type of policy offers protection against fire, vandalism, and theft.

2.      General Liability Insurance:

General Liability insurance provides defence and damages if your business, your products or services cause or may have caused Bodily Injury or Property Damage to a third party. It is the kind of insurance that can be helpful to any type of business.

3.      Business owner’s policy:

A business owner’s policy may cover business interruption insurance, property insurance, vehicle coverage, and liability insurance. You may also speak to an agent to alter the package so it fits your company’s specific needs.

4.      Worker’s Compensation:

Worker’s compensation provides pay replacement and medical assistance to those who are injured on the job. For the employee to enjoy these benefits, the employee will give up his/her right to sue his/her employer for the incident.

5.      Professional Liability Insurance:

Professional Liability insurance, also known as Errors and Omissions Insurance, offers defense and damages for failure to deliver professional services as per the contract.

Getting a Mortgage Renewal

The Mortgage Renewal Process

A mortgage renewal can be described as a new agreement to extend mortgage terms with your mortgage holder. Since you’ve probably jumped through a lot of hoops to get your application approved, you most probably haven’t thought about the renewal process. At least not until the letter comes through the mail.

Unless the amount owed has been fully reimbursed, the mortgage holder can either renew the mortgage or demand payment in full if the mortgage is not renewed. If you have made your payments regularly, the renewal process would go without a hitch and you can choose to stay with the original lender. The renewal is mostly like renewing car insurance: renewal papers are sent to you to be signed and returned. A new mortgage, based on the new amount owed, is then put in place.

But there are important factors you might want to consider before agreeing to the same terms as the previous mortgage. This could be an opportunity for you to renegotiate the terms of your contract, including the length of the term, the interest rate, and even your lender. Read on to find out more.

Short Term vs. Long Term Mortgages

Some people try to take out the longest mortgage term possible when interest rates are low and choose to take out shorter terms when interest rates are high. They bank on the possibility of interest rates dropping by the time they need to renew their mortgage. We would not recommend you adopt such a strategy without first consulting a mortgage professional.

What to Expect During the Mortgage Renewal Process?

You might be tempted to think that mortgage renewal is just a hassle that will take more of your time, but you couldn’t be more wrong. Changing the terms of your mortgage means that you can change the contract to better align with your needs.  

Most lenders are required to send a renewal statement at least four months before the end of the term. Instead of keeping an eye on your mailbox, waiting for that statement to come through as the term nears to its end, we have better advice for you.

Reviewing Your Mortgage Options

Here’s what you can do. Four months before your term is up, start researching other potential options that may be available to you. Find out what other lenders are offering, what are their mortgage rates and prepayment options, among other conditions. Armed with this, you can either renew your mortgage with your current lender early or negotiate for better conditions.

Most people make the mistake of renewing their mortgage with the same lender that holds their current mortgage because they don’t want to have to go through the hassle of switching lenders and providing documents needed to qualify for a mortgage with a different lender. Although it’s much easier and more convenient to simply accept the terms, sign the document, and send it back, you might end up doing yourself more harm than good. Instead, reassess your current financial situation and look into interest rates and costs of switching mortgage holders.

DLC Mortgages INC. can help you assess your current financial situation and your current mortgage terms. Just signing a contract without considering other alternatives could hurt you. Hence, with the help of experts, reconsider your financial goals and create an outline your mortgage needs. When choosing a mortgage rate, term and product, factor in your new net income, your present situations and your plans for the future. Along with your financial goals, you should also be mindful of what you want from the mortgage term:

  • Do you want to increase your mortgage payment amount?
    If so, can you afford to pay this amount?
  • Do you think you might be able to pay off the amount due in this term?
    If yes, ask about prepayment penalties that go with fixed vs. variable rate mortgages.
  • Is there a possibility of you receiving a bonus or an inheritance that you could put towards your mortgage?
    If so, consider looking at lump sum prepayment options.
  • Do you think there’s a chance of you selling your home and moving in the coming years?
    If yes, get a mortgage that is portable or assumable.

Mortgage Renewal Problems

Unless you’ve missed out on some payments or your financial situation is completely different from what it was when you initially contracted the mortgage, you shouldn’t have a problem at renewal time. If your credit has dropped significantly during your mortgage term, your lender may choose to not renew your mortgage. In such cases, you can always take your mortgage to another lender. But there’s always the risk of you having to pay higher interest rates. Hence, if your mortgage is coming up for renewal soon, try to stabilize your finances so your renewal does not get denied.

The Ultimate Guide to Line-X


What Exactly Is Line-X?

LINE-X is a spray-on protective coating that has the capacity to make almost anything seemingly indestructible! This product, made from polyurea, is a thin protective coating rated as safe for use even in potable water containers. Since polyurea is a durable material able to withstand corrosive chemicals and fire damage, the coating creates an impeccable, virtually impenetrable shield. It binds onto almost any material, adding an additional layer of protection and toughness.

Physical Properties of Line-X

Used mostly in truck bedliners, LINE-X provides tough corrosion-resistant protection. From tensile strength to hardness, Line-X is designed to provide the highest level of performance and durability. Below are additional properties of the spray-on coating:

  • No volatile organic compounds present in the product, hence making it environment-friendly and safe for potable water applications
  • Displays fast cure times with excellent adhesion
  • Can be sprayed vertically without dripping
  • UV stability
  • Available in different colours
  • High chemical resistance
  • Noise dampening and vibrations abatement

Why Use Line-X?

Line-X can be used to coat coolers, vehicle fenders, grille guards, propane tanks, bumpers and trailers. In fact, Line-X products can safeguard wood, cement, masonry, drywall, aluminum, metal, concrete, Styrofoam and fibreglass.

It is specially used to protect the paint on vehicles. Since paint jobs do not deliver ‘indestructible’ protection against wear from gravel roads, sun exposure and regular road hazards, many truck owners choose to get a full-body protective coating that stops their vehicle’s paint finish to deteriorate.

Here’s how Line-X spray-on coating has the ability to take on the harshest elements and fight every day wear & tear:

It offers abrasion and impact protection

Studies and several laboratory tests have shown that Line-X sprays outperform materials such as carbon and stainless steel when it comes to resistance to abrasion and impact. Regardless of the severity of conditions to which the material was subjected, the coating proved to be almost impenetrable.

It offers enhanced durability

Since LINE-X bonds to most materials at the molecular level, it creates a unique composite that is highly strong, flexible and durable. Unlike any other sprays out there, it is also flame-retardant and UV-resilient. The UV stable coat that is applied delivers a tough coating that minimizes fading and sun damage.

It offers a corrosion-resistant coating

Corrosion prevention is an added benefit to LINE-X coatings. Designed to create a seamless protective barrier between the equipment and harsh environmental elements, such as high humidity, extreme temperature changes and saltwater, it protects the vehicle from small scuffs or more serious scrapes, thereby preventing rust from forming.

It creates a watertight, seamless barrier

LINE-X coatings provide an unbreachable barrier that is ideal for storage purposes. It can be used for secondary containment applications areas, such as the storage of harmful environmental contaminants, petroleum products, or other volatile or unstable chemicals.

Line-X Used for Commercial Purposes

Engineered to meet the needs of a diverse range of customers, Line-X offers coating solutions that can protect and prolonge the life of a wide range of assets. Whether for business or municipality, the spray can be used to protect infrastructures, utilities, construction equipment, transportation, or service and fleet vehicles.

It not only enhances durability and extends the lifespan of the products, but Line-X also prevents leaks, rust, and corrosion. Thanks to that, it will ultimately reduce any potential maintenance costs.

Line-X for Vehicles

From bedliners to rocker panels, marine hulls and boat trailers, the tough coating protects from the harshest of elements. This unmatched protective coat has you covered! When expertly sprayed by highly trained technicians, Line-X offers a nearly indestructible coating.

When done right, you can explore any environment with confidence because your vehicle will be highly resilient to staining from harsh chemicals, leaks, rust, & corrosion.

Line-X for Residential Purposes

The versatility of Line-X protective sprays ensures that it can also be used in homes. In addition to being relatively inexpensive, the coating enhances any home environment by insulating, dampening noise, waterproofing, and repairing cracked floors. Scuff-resistant and UV stable, LINE-X coatings applied with clear, high-gloss sealer never disappoints.

Using the same product that makes bedliners, fire hydrants and military vehicles virtually ‘indestructible’, the spray-on coating can also protect outdoor furniture from rusting.

Line-X for Industrial Purposes

Line-X products can also be used across a wide range of industries. From corrosion-resistant coatings to impact-resistant coatings, the polyurea coatings can keep equipment from getting damaged. With onsite installation and rapid cure times, the sprays can increase workplace safety and maximize production time leading to the factory running at optimum efficiency.

Line-X for Agricultural Purposes

With its ability to protect and extend equipment lifespan, Line-X provides protective coatings solutions that farmers can rely on for maximized efficiency and harvests. Designed to safeguard crucial equipment and machinery, Line-X sprays can help minimize downtimes and lowering operating costs. As productivity is increased, there are higher chances of good product yield.

Why Choose a Catering Service?

Organizing, planning, and hosting an event of any size is a large task. The long list of to-dos and only so much time before the day of your event. This long list can make the entire process a stressful ordeal. In our minds, events are supposed to be fun and enjoyable – both before and the day of. A large portion of planning for an event is food – knowing the number of people you need to feed, figuring out what food you want to serve, preparing the food, serving the food, and cleaning up once your guests leave. Below, we share with you five important reasons to consider on why you should consider hiring a caterer for your next event.

Create a List of Needs

One of the most important things that you must do before reaching out to a catering businesses is to create a full list of needs for the party, including the date and time of the event, number of attendees, location and setting of the party, whether or not there is a kitchen or at least refrigerator on-site, and whether or not you would like the caterer to provide alcohol for your event catering. Also, make sure that your list of needs is well-written and consistent throughout all your conversations with the various catering companies, ensuring that you receive accurate quotes that match your needs.

Determine Your Catering Budget

Perhaps the most important element dictating the results of your party catering is the amount of money that you have in your budget for the caterer. Most catering services start out at $25+ a person, and the price will go up as additional features are requested, such as a wait staff, alcohol, fancy serving platters, rented tables, chairs, and linens, etc… are included. Before you reach out to the first set of catering companies, make sure to create a hard budget for your event.

What About the Menu?

Another important consideration is the type of food served, the variety found in the party catering Albuquerque menu, and whether or not the company offers vegetarian or other styles that match your participant’s dietary restrictions. Also, consider the type of ethnic food offered. Mexican food is very popular in the United States and is considered a good option for corporate events. Another cuisine, like Indian or Thai food, is delicious and may be appreciated by some of your more adventurous guests, but may be considered too foreign for a typical business function.

How Is Food Served?

Depending on the type of event that you are organizing, this may be the single most important factor in choosing a party catering business is their ability to make the event look professional. Let Sarah Brown’s Catering staff create a professional menu and aesthetic for your next professional event.

Taste It!

Your catering preparation is never complete until you taste test the menu in-person. One of the last, but most important steps, in securing catering Albuquerque is to stop by the restaurant and test the food in-person, making sure that the food matches the descriptions and that the taste is up to your standards. Before going into the restaurant, make sure to inquire whether the tasting step is included in the overall package price or whether you will be expected to pay more for it.


Another key issue that you will want to discuss with your caterer and own team is whether you intend to serve alcohol at your event. Some catering package comes with beer pairings over five courses; however, do discuss custom alcohol serving options with you to meet your needs. Not all event catering Albuquerque has this option, so make sure that your catering company has an active alcohol license before signing a contract.

Attention to Detail

Look out for a catering company that will take time to perfect and present your food and beverage options in a way that will wow your guests. Choose the catering staff who have the skills, experience, and patience to make your vision a reality. Also, one that can adapt to any venue environment to make sure your food and beverages fit the scene and look perfect.

Tables and Decorations

One of the most important, but frequently, forgotten elements of catering is figuring out beforehand who is in-charge of the rental equipment, such as tables, chairs, linens, silverware, and glassware. A party with food but without any of the above items would be a strange party indeed!

When you’re planning your next event, really consider the time and how you will realistically get everything done. Turning over the food portion of your event to a catering company like Sarah Brown’s Catering can let you focus on other planning essentials and the bigger picture – enjoying your party and spending quality time with your guests. They provide reliable and professional services in Great Neck, New York. Get in touch soon!