What Is Loan Payable?

What Is Loan Payable?

At one point in time or another, you might have come across the phrase “loan payable” and got confused or you might not have even heard of it at all. “Loan Payable is a very popular term used in the financial industry and if you are looking to apply for a loan now or in the future, it’s very important to you. Fortunately for you, in this article we will be discussing in full details on what “Loan payable” refers to. But before we go into loan payable, let us make sure loan itself is understood. What are loans?

loans payable

A loan is an agreement under which a financial institution (mostly cash in this context) gives another individual access to their property under the conditions of interest payment and guaranteed return of the property by the end of the lending agreement. The mortgage loan payment is usually provided in a promissory note.

So, in general, what is a loan payable?

Say for instance, any part of a loan payment is still payable by the time registered on the balance sheet of the company; the remaining loan balance is usually referred to as loan payable. In other words, it is the exceptional due loan balance within the valid lending period.

In the event that the principal placed on a loan is still payable within a year, it is usually referred to on the balance sheet as current liability. Any remaining portion of the principal that can still be paid in over a year’s time is usually referred to as long term liability. In the case that the loan agreement has been disregarded, but the property owner has waived the contract requirement that could still imply that the total loan is technically payable at once and can be referred to as current liability.

The interest a company might be owing on a loan later in the future might not be registered in the accounting records. Such instances are only recorded as time goes on when the interest that is being owed actually develops to an actual liability. The lender or financial institution might be required to form a reserve for accounts that are doubtful in order to offset its portfolio of loans payable. The above scenario most suitable for situations where it looks like some loans might not be repaid.
Also note that a loan payable is actually different from accounts payable in the sense that accounts payable are based on goods or services acquired and do not charge interest. A loan payable on the other hand, charges interest, and is usually based on the receipt of a certain sum of money from the lender.

Here’s a scenario for loan payable to make you understand better. A business acquires a loan of $10,000 from a financial institution and registers the loan as a credit to the account of loan payable and a debit to the account of cash. In the event that after a month, the business pays back $1,000 with interest out of the $10,000 therefore leaving $9,000. The remaining $9,000 within the valid lending period is referred to as loan payable.

Now you already have an idea what loan payable refers to you will no longer be confused whenever you come across it again. If this is your first time to encounter this financial term, make sure you fully understand the article above. This is important because it can come a long way in making you understand what lending entails especially if you plan on applying for a loan anytime soon or in the future.

What is the Maximum Amount of Home Loan?

Getting the best out of mortgages or home loans can be a very wonderful thing. Most people are always looking for the home loan maximum amount they can have access to for higher funds. If you’ve been among those set of people, search no further! Fully detailed in this article are the different types of loan available and their maximum loan allowance.

Traditional Conforming Loans

A traditional mortgage is a conventional home loan ordinarily thought to be the perfect decision in the lending industry. Most banks in the U.S offer up to $417,000 in many markets — other than Alaska, Hawaii and Guam and the U.S. Virgin Islands. $417,000 is likewise as far as possible usually set for non-government loans with an under 10% up front installment. Almost all mortgage organizations offer standard mortgages up to $417,000 with as meager as 5% down.

Super Conforming Loans

Every area in the U.S. has a traditional conforming loan limit set at $417,000. Be that as it may, many financial institutions likewise purchase loans surpassing this sum to permit higher points of confinement in higher-cost territories. This is known as a conforming high adjust loan, otherwise called “super conforming,” and goes to the most extreme area loan limit as the greatest size loan a borrower can apply for and still be thought to be of the conforming assortment. Take Sonoma County, CA. which has a most extreme conforming loan high adjust the point of confinement of $520,950; San Francisco’s is up to $625,500.maximum house loan

Loans more noteworthy than $417,000 do convey confinements — for instance, a base 10% up front installment is a key prerequisite. Housing bank interest rates and expenses likewise begin to ascend on loan sizes surpassing $417,000 through the greatest district loan limit.

Jumbo Mortgages

A jumbo mortgage is any loan size $1 or more noteworthy than the greatest set loan limit in a region. A private mortgage loan in the measure of $520,951 would reserve this exchange as jumbo, which acquires heavier credit and value prerequisites.

Currently, on the off chance that you can bolster the obligation, the maximum private mortgage loan you can get with a stellar money related profile is $3 million. To accomplish the jumbo mortgages, you must meet these prerequisites:

•    A 760 credit score

•    A 25% up front installment

•    A single-family home as it were

•    A low obligation-to-pay proportion.

On the other hand, the jumbo credit prerequisite changes during a specified period of time. Take a high total assets borrower hoping to back a jumbo-sized mortgage for an excursion property — i.e., a second home. An individual can apply for a jumbo mortgage up to $2.5 million with a base of 35% up front installment, but still with the same 760 credit score edge. However, the highest estimated mortgage loan will fund a second home closest to 10% down on an essential home or a second home though the jumbo loan needs more scheme regarding initial installment.

What Are Debt Consolidation Loans?

What are the thoughts that come to your mind whenever you hear of or come across the words “debt consolidation loans”? I know I’m too far from knowing what the thoughts are exactly, but do you know there are many people that may have not come across the words? When I say many people, I mean more than 50% of the world’s total population have not come across the words, while few among those that have heard about or come across the words can give explanations of what the words are. Candidly writing, there will be a branching out to the meaning of some terms before we arrive to the main meaning of debt consolidation loans.

The word debt literally means something owed by someone, and the person involved is called a debtor. Whenever someone owes another person, we usually say he or she in indebted to that person he or she is owing.

Moving down to the meaning of consolidation, one can say it means strengthening, while another can say it means bringing or combining together into one mass. The both meanings are correct, and I’m sure they are not much different from your own understanding of the word.

Loans on the other hand means money, finance or funds that are given out to people, which they will pay back with interest and after a specific or fixed period of time. Now that we have known what debt, consolidation and loans mean, let us proceed to answering the question that is at hand. I mean this question “what are debt consolidation loans”?

loan consolidation

What are debt consolidation loans?

A debt consolidation loan is a kind of loan that involves getting another loan in another different term for the purpose of getting rid of other debts by taking out one debt. This kind of loan mostly refers to a personal loan procedure of people tackling or dealing with high debt. The procedure can acquire an overall lesser interest rate to the whole debt and then create the convenience of attending to only a single loan. Another definition of debt consolidation loans is the bringing together of numerous unsecured or unprotected debts into a new and single debt that is more favourable to the debtor. Literally, you can say this kind of loan involves getting rid of a new debt with the intention of clearing other debts. Another interesting thing about this type of loan is that the new loan possibly will result to lesser interest rate and also lesser monthly repayments.

Do you know you can have your debt consolidation loans unsecured in the sense that there will be no physical collateral? Yes I said that!

There are companies that give out unsecured debt consolidation loans to people; these people are usually faced with the challenges of not being able to clear of some bills such as credit bills and even medical bills. People with such issues can apply for debt loans to enable them offset those piled-up bills.

If by chance you are faced with the option of seeking for debt loans, make sure you go through the debt consolidation loan rates offered by the lender. The truth is that most of these lenders will offer this kind loans at odd rates; I mean the unreal lenders.

Another thing you should consider is the loan term and the final repayments interests if you were unable to repay in time. The truth of the matter is that the monthly repayments may be lesser with lesser interest rates, but you possibly will pay additional interest if unfortunately it takes you more than the fixed due date to pay your debt.

What Are Bad Credit Loans?

thinking man with bad credit

There have been a point in time when an individual faced with financial issue, challenges or problems that leave them with no option rather than being worried or living an uncomfortable life. For instance, an international business tycoon who is into importing goods will be living a normal and luxurious life; permit me to say his living will be seen as a perfect one. Maybe along the line, one or two of his biggest importations turn out to be unsuccessful, trust me that the formally known business tycoon will start living a different life; in fact, if precaution is not taken, he will become a debtor, and obtaining loans from lenders that give bad credit loans to people with bad credit history will be his only option to obtain finance.

Many individuals that have been affected by financial problems in one way or the other ended up debtors with bad credit score as a result of not being able to offset the money they borrowed in time. I know you have started being curious of when I will go into the main aim of which this article was produced, please bear with me for the lengthy introduction.

What are bad credit loans?

Well, this kind of loans is almost the same with personal loans in the sense that, the loans are mostly available for those individuals with bad credit score or no credit history at all. On the other hand, this kind of loans can serve as a means for people to build up a high-quality credit history after experiencing things like bankruptcy, foreclosures, repossessions of their pledged properties via other forms of loans, or any other kind of situation that is credit-challenged. In other words, this kind of loan is best for those in need of loan but has been denied severally as a high jeopardy.

The best known way of acquiring bad credit loans at ease is online, but for you to do that; you will have to search for lenders for bad credit loans online. They are the companies that offer bad credit loans online to individuals with issues like bad credit or no credit history. Another truth that will get you stunned is that these companies that give bad credit loans online have a network of lenders that particularly give out either shot term or long term loans to people with a credit history that is less perfect. Most bad credit loans lenders have websites through which people can apply for bad credit loans online.

Now that the answer to the question “what are bad credit loans?” has been provided, let us proceed to some things we don’t really know about this kind loans – believe me, you will be happy that you have read further.

Benefits of online bad credit loans

For the fact that this kind of loan seems to be the best for people with bad credit score or no credit history, unarguably, there are plenteous reasons why it remains the best loan option for them; these reasons are what I term to be the benefits of online bad credit loans.

  • Loans can be obtained at ease without going through the hassle and stress of meeting with lenders.
  • There is less recognition of less-perfect credit score of absence of credit history.
  • It is also a means of consolidating bills into one payment that will be easier to manage.
  • It is could also be used to avoid fees and penalties from other debts that are due for repayments.
  • The last but not the least is that borrowers can borrow up to any amount they wish. However, as a borrower, the amount you are borrowing should be one you can repay at ease.

Things To Consider Before Applying for Online Loans

loan checklist online

In recent times, there have been increased rates of people seeking for loans from their close acquaintances, organization and financial institutions. They seek for the loans for various purposes such as to offset some bills, to meet up with the cost of living, etc. As there is an increase on the rate at which people ask for loans, so is the number of people offering loans to people is increasing.

Those people concerned with giving out loans or lending money to people in need of financial assistance are called lenders and are scattered all over the world. Due to the presence of internet, majority of them now offer online loans to their clients; they do that after the applicant’s application has been reviewed and approved.

The truth is that online loans have lots of advantages, especially to applicants with bad credit history. You will be surprised to know that someone can easily obtain online loans at ease within 48hours, irrespective of his or her bad credit history. Another amazing thing about online loans is that there are lots of competitors offering at different rates online. Some of them offer both short term and long term loans, but don’t be in a haste to forget that the interest rates of a short term loan is not the same with that of a long term loan; they vary.

In this article are the necessary things people need to consider before applying for online loans. Yes we know that there are lots of benefits associated with online loans, but there are a lot of people that make mistakes as long as getting loans online are concerned. Just be a little patient and read further.

1. Interest rates and annual percentage rates

Like I stated earlier about the increased rate of lenders offering online services to individuals seeking for loans, there are different interest rates and annual percentage rates offered by online money lenders. This issue is one you should consider before you apply for online loans so that you don’t get yourself into the problem of having to repay huge sums of money. Look out for lenders with online loans low interest rates if you are seeking for either short term finance or long term finance.

2. Period of loan repayment

Before you apply for loans online, make sure you consider the repayment period for the loan you are about to obtain; if the period is not okay with you, try and look for another money lender that will offer you a period that will not be problematic to you. For instance, as a tourist in Philippines running out of finance, you are not prohibited from obtaining finance from online loans Philippines Companies, but the repayment period should be one that is convenient to you.

3. Credit check

This is another thing you should consider before applying for loans online. Some money lenders always require a strong and solid credit check before they qualify you for a loan, and this kind of issue is really a bad one for those with bad credit history. If you are in need of loans and already you have a bad credit history, try and look out for loan companies offering online loans no credit check services. Obtaining loans from loans’ companies without credit checks usually favours people with bad credit history.

4. Amount of money

There are loan companies that offer huge amount of money to borrowers, but they are rare. Most online lenders have limits on the amount of money an individual can borrow from them; they do so with various reasons. Therefore, before applying for loans online, ensure your lender will grant you a loan of the amount you need. If you are seeking for a loan of $1,000, the lender should be able to grant you a loan of that amount.

Short Term Personal Loans – What Are Pros and Cons Personal Loans

When you are experiencing a financing problem, it may seem that your choices are quite limited. But, even people who can’t use savings account or ask from family members for extra finance can find help from the monetary strain. Short terms personal loans are simple to apply and fast to get, even though they are not suitable for everybody. Read on for the benefits and drawbacks to find out whether short term personal loans is the most excellent option for you.

What is Personal Loan?

Personal loans vary from ordinary financial products in quite a few ways. First, low interest short term personal loans are frequently offered by the lending institution that professional in this service, instead of traditional lenders and banks. Approval is frequently granted within 24 hours after submission of loan application, and the finances are directly transferred to the borrower’s bank account within 24 hours or more. These finances particularly carter to consumers who find themselves in financial trouble and have some other alternatives for getting the money they want.

Advantages of Short Term Personal Loans

• During hard financial periods, there are a lot of reasons to think about personal credits. Here below are a few advantages of best short term personal loans.

• A simple application process that can be completed on the internet from comfort of house

• Quicker processing time, therefore the finance is in your account a lot more rapidly than with conventional loan items

• Less strict underwriting guidelines that enables even people with low credit rating to apply and obtain amount of loan

• Flexible payment alternatives that make these finances affordable for almost everybody who needs finance in a flash

• Loan charges are frequently less than charges for bounced checks or late installment, saving you funds when the budget get very tight to run all of your fiscal obligations.
These advantages are precisely the aspects that lead many looking for personal finances every day. The finance is trouble free to apply and transfer into your account rapidly; therefore you have the finances you want, when you require those most.

short term personal loans

Drawbacks of Personal Loans

Despite of speed and convenience of personal finances, these loans are not suitable for everybody in every condition. Some individuals find that the charges of advances are simply not worth the advantages they offer. Some of disadvantages of personal loans include:

• The loan fees are generally higher on emergency advances, thus borrowers who pay the finance back over a long duration of time may end up paying out a lot more to borrower the finance

• Rate of interest may be even greater for people with less than average credit score

• You should have a stable source of earning to entitle for most of these advances

Due to the price of these advances, borrowers are generally encouraged to give the finance back as fast as possible to save on loan charges. These loans are not appropriate for everybody; however they come in helpful for people who want urgent money.

Requirements For Loan Application in Philippines

Applying for a loan in Philippines is once in a while a fast and easy process. Then again, there are sure strides in the loan application that you can control, such as having the complete and fundamental reports close by.

Remember that this agenda just contains the most widely recognized reports required by a loaning organization in the nation. You will in any case need to check with your bank advance or in-house financing officer if there are supplementary archives expected to prepare your advance application.

loan  form and calculator

1. Finished application structure

Ensure that this structure is appropriately rounded out. Check the spelling of your name, contact number, address, and other individual points of interest twice. For more accommodation, some nearby banks permit you to fulfill an application structure online or download a duplicate and submit it to the branch close you.

2. Confirmation of wage reports

Pay confirmation is required by the financial institutions or banks as narrative proof that you, as the borrower, has the ability to make a long haul monetary responsibility. Your wage and other money related information will be surveyed to decide your capacity to reimburse the advance.

In the event that you are privately utilized, you ought to submit:

  • Latest Income Tax Return (ITR)
  • Latest 3 months pay slips
  • Certificate of Employment (COE) with pay breakdown
  • Latest 3-6 months bank articulations
  • If you are an Overseas Filipino Worker (OFW), you ought to submit:
  • Latest 3 months evidence of settlement/pay slips
  • Latest 3 months bank articulation
  • COE with remuneration
  • Latest Crew Contract (for seafarer/sailor) or Employment Contract (for area based OFWs)

For independently employed (entrepreneurs/experts):

  • Certificate of Business Registration with Department of Trade and Industry (DTI) or Securities and Exchange Commission (SEC)
  • Two-year Audited Financial Statements
  • Latest 1701 ITR
  • Latest 3 months bank proclamations
  • At minimum three exchange references: List of suppliers and clients or subsidiary healing facilities/centers with locations/plans (for specialists)
  • Latest 6 months bank proclamations
  • Lease Contracts and duplicate of title (TCT/CCT) for rental wage

For nonnatives with a Filipino life partner, you might submit:

  • Photocopy of either the Alien Certificate Registration (ACR), Alien Employment Permit (AEP), or VISA ID

Note: Under Philippine law, outsiders can’t gain a private area in the nation. All things considered, the loan contract will be under the Filipino mate’s name. Be that as it may, both should close down the loan.

3. Identification Cards (ID Cards)

While giving distinguishing proof cards (ID), you ought to submit one to two legitimate government provided IDs with photocopies.

Other valid IDs:

  • Alien Certification of Registration/Immigrant Certificate of Registration
  • Government Office and GOCC ID, e.g. Military of the Philippines (AFP ID), Home Development Mutual Fund (HDMF ID)
  • Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
  • Department of Social Welfare and Development (DSWD) Certification
  • Integrated Bar of the Philippines (IBP) ID

Essential things to remember:

  • Before presenting your advance application and report prerequisites, confirm with your bank what specific archives are should have been submitted as unique duplicates or photocopies.
  • If you are applying for a loan online, be careful about the website you have presented your application to keep away from data fraud. Different banks permit examined duplicates or photographs of your report prerequisites on the off chance that you apply on the web.
  • If you submit your loan online in Philippine, you ought to get a criticism by means of email and/or SMS from the bank for the following steps. On the off chance that you have not got any notice, follow up with a telephone call to the bank and get a reference number to track your application status.
  • Also try to make use of a loan calculator in order to deduce the total amount you will pay at the end of the lending term. A loan calculator will also provide you with a way of choosing the bank with the best interest rate to save money. 

Major Differences Between Secured and Unsecured Loans

security locks

 These days, there are a variety of loans accessible for different groups of employed and self-employed earners. There are also a lot of financial institutions providing these loans. The online is one the major places that offer advances. Repayment options also differ from one lending company to another. Repayment alternatives are always settled upon after conversation between the creditor and debtor.

There are two main types of advances now a day, unsecured and secured. These loans are generally varied. The borrower generally has a hard task in selecting the most appropriate credit option. It is vital to consume enough time accessing the benefits as well as features and risk before getting a loan.

Secured Loans

The secured loan is one that is secured by an individual property like a house, land or vehicle. Generally, majority of personal finances are secured loans that an individual pay back in regular monthly repayments of a shorter period. There are a lot of differences between unsecured and secured credits. In secured finances the monthly repayments and rates of interest are generally lower as compared to unsecured loans. The interest is lower as of security places against the amount of loan. Most financial institutions provide a higher lending capacity to secured loan as compared to unsecured loan. It is good to get secured finances as they have lower interest. The period of paying repayments for secured finances is usually longer than that of secured finances. Moreover, secured finances are processed quicker than unsecured ones.

Unsecured Loans

An unsecured loan is the same opposite of secured advances. An unsecured credit is lacking your guaranteed asset. The lending companies grant unsecured loans online approval based on the character of the consumer. If your credit rating is almost better enough, in that case you might be capable to obtain a lower rate of interest unsecured online bad credit. The lending company does not consider that you are a loan liability. If you do not posses any secret problems on your credit background and you need a credit without giving any security, in that case you must look into obtaining an unsecured loan. The fast cash finances are an unsecured loan. Best unsecured loans were produced for people who do not possess a good credit score. The lending company who offer payday finances will not demand for credit check. You can obtain a quick cash advance within a day but the rate of interest definitely higher than a secured loan.

A Few Words about Both Secured and Unsecured Loans

There are both bad and good items regarding secured Vs unsecured loans. With a secured credit, you are eligible to a low rate of interest; however the lending company can seize your asset if you miss simply one installment. Or, would you like to get unsecured loans no credit check with a high interest rate, however low chance of the lending company taking your security. The most excellent place to compare the secured and secured loan is internet.

Importance of Loan Calculator to Choose the Right Loan for You

The importance of having a loan calculator for your business can not be understated. Having a loan calculator can do far better than just figuring out your minimum repayments. A loan calculator can be a very effective tool for comparison. It can also be very useful in making your budgets much easier to draw. A loan calculator is also very effective for calculating your loan annual payment. You can also use a loan calculator to design a plan for debt reduction so as to ensure the best of budget. Keep in mind that the difference between using a loan calculator and not using a loan calculator amortization on every loan you acquire might look minor. But in the long run, a loan calculator can save you a lot of money and stress. Here are few of the ways by which a loan calculator can help to choose the right loan for you.

A Loan Calculator can help in comparing interest rates.

loan document and calculatorA loan calculator can help to pick the best from the different interest rates of lenders. Input into the loan calculator how much loan you need to borrow, add the proposed rate of interest and term. The loan calculator should give you a repayment sum that will ensure you have completely repaid your loan by the end of the term.

Also, most calculators will reveal to you the exact amount of interest you would have repaid by the end of the term. If you make any amendments to the interest rate whether by increasing or decreasing it, you will see the big difference it can make on your payment dues. Amending the interest rate on the loan calculator will also change the results for the due interest when the term ends.

Go around different banks, check out their interest rates, Input those interest rates into the loan calculator and you will see the difference it can make on your payments.

A Loan Calculator can assist in Drawing up Budgets for Your Repayments.

In the event that you input the amount you are borrowing into the loan calculator and you receive an amount for monthly repayment that is a bit higher than your budget, you can simply reduce the amount you need to borrow continually until you find a repayment that suits you.

Following this method, you will know exactly how much you can borrow and at the same time, if you can keep up with the repayments. This will save you the hassle of struggling to pay or inconvenient repayments.

A Loan Calculator can assist in reducing Your Debts.

At times, applying for a loan can be an effective way of settling debts like credit card balances. Just input the amount you need to borrow and observe the monthly repayment amount. You will notice that it is much lower than the amount you pay on charging debts with higher interest.

If you want to find a way of paying the loan faster, you can increase the amount of minimum repayment. Paying a bit more than the required payment can speed up your plan for debt reduction and reduce the total interest you pay in the long run.

Now you can see why you should make use of a loan calculator to choose your loans. If you have been receiving loans without it in the past without it, you will notice the big difference. Try to make some calculations and then you will see how much you could have saved. Finally on this article, ensure you make use of a loan calculator to pick the right loan for yourself.

Business Loans 101: Things You Must Know

Only if you are planning to start – up and run your business entirely on your savings (which is not a good option unless you are very rich), you will require a business loans. And a very popular advice lenders will give you is “The more you are prepared before requesting for a loan, the better your chances of getting approved”.

Now what is this preparation? Getting prepared for a loan involves understanding and providing every of a financial institution’s requirements. The truth be said, financial institutions also make profits on every loan you acquire so why shouldn’t they grant you the loan. The major reason most banks reject loan request is because they do not meet their business loan terms. Another factor that makes banks deny your loan request is if you are applying for a start-up loan. Most financial institutions view business loans for small businesses as risky bets and are reluctant to approve them. Also keep in mind that larger banks will rather grant greater loans than small loans regardless of the fact that it takes an equal amount of time and process to secure both. Outlined below, are the preparatory processes you should take to increase your chances of securing a loan.

Make a research on the type of loan you are applying for.

business loans

Find out exactly what the bank or lenders are looking out for. This might be a proof or assurance that your business will be able to repay the loan, with metronomic regularity and interest. Major of financial institutions will usually expect the loan a form of security for the loan. This security can be your assets or collateral. Most times, also having a form of personal contribution or investment increases your chances of securing the loan. Keep in mind that most banks or financial institutions will also be looking for ways to benefit from your success. Therefore, as your business grows so does your relationship with them. Another thing you should note is your loan provider will prefer to be your business’ credit card issuer and account treasurer. The lenders will also observe your assets, finance record, character and your work experience before granting you a loan. If you require a start-up loan for your business, having partners or colleagues with more experience and better records than you might be a requirement.

Now that you understand what your financial institution or bank requires, you will need to answer some questions while filling your application. Try to ask the lender or bank for its requirement’s document and get ready to answer the questions based on the following categories.

- Purpose of the Loan: What exactly will the funds be used for? Try to give definite purposes as most banks would reject pyramid sales, speculations or gambling.

- Amount of Loan: How much do you need to borrow? Also try to give reasons for that particular amount.

- Loan Repayment Plan: How long will you require the money for? What plans do you have for repayments?

- Loan Security or Collateral: What assets can you drop as collateral? What is the assets’ value on the market? What portion of the assets’ value can be used as collateral?

- Business Plan Details: Do you have a written business plan that includes your action steps and goals, resource allocation, timetable, required funds and other financial data? You may also be required to provide a year of projections for cash flow.

If you have made sure to meet with the qualification and provided all necessary requirements, then go for the loan. Hopefully it will get approved, and if your business loan was unsecured, do not give up! Try to find the reasons for rejection and work towards meeting up with it. Keep going, learn from your mistakes and you’ll surely get it.

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