Welcome to Only-Finance.co.uk

» Credit Scoring Explained
Lenders use credit scoring as a tool to decide whether to advance money or not. Most have there own credit scoring systems but will use much of the same information from a number of common sources. Credit scoring is used to determine how attractive you are as a customer and works out a mathematical probability that you will default on your commitments.
So what elements go into a credit score and how can you make sure that you are as attractive as possible to prospective lenders. Remember that the more attractive you look the better the rates and terms you will be offered on the loan so a little understanding and effort can save you money.

» Loans Explained
Borrowing money ought to be a simple and straightforward process. And by and large it is provided you know what type of loan best suits the situation and requirements that you have.
Essentially there are two basic types of loan - secured and unsecured.

» Small Business Loans
For most businesses, from a small one-person outfit to a large global corporation, business finance is a normal part of operation. It comes in various forms that deal with different situations.
Many firms will have an arranged overdraft that covers fluctuations in cash flow resulting from variable invoicing and uncertain creditor payments. An overdraft is generally easy to arrange, flexible and has the advantage of only charging interest on the balance actually outstanding. However, the rate of interest will be higher than for a formal loan, which will be more suitable for specific purchases.

» Small Business Credit Cards
Credit cards are in common use by individuals but the concept of business credit cards is relatively new. Nevertheless, their use is growing as companies realise the benefits they can bring.
Business credit cards can be extremely useful when they're issued to employees who make purchases and spend money on the company's behalf. Typical examples are sales representatives who are buying business lunches, spending nights in hotels and refuelling their cars as they travel the motorways.