Monthly Archives: March 2019


What you need to know about Personal loans

What you need to know about Personal loans

Personal loans are one of many types of loans you can use to borrow money. These loans are typically general purpose loans that you can use at your discretion for things like consolidating debt or paying for an unexpected expense or small home improvement project. Personal loans are often more difficult to get and have strict qualification requirements. If you’re thinking about borrowing a personal loan, here are some things you know.

A personal loan means that you are not required to use an asset as collateral. If you default on a personal loan, the lender can’t automatically take a piece of your property as payment for the loan. This is one of the reasons personal loans are more difficult to get. The lender doesn’t have any asset to seize if you can’t make loan payments anymore. Even though the lender can’t automatically take your house or car, it can take other collection actions. This includes reporting late payments to the credit bureaus, hiring a collection agency, and filing a lawsuit against you.

Personal loans have a fixed amount.

The amount of personal loans ranges anywhere from ₦50,000 to ₦5,000,000 and depends on the lender, your income, and your credit rating. Unlike credit cards, personal loans are a one- time loan. You can’t borrow from the loan over and over the way you can with a revolving credit card balance. Payments toward the loan reduce the balance but do not open up available credit that you can borrow again.

Once you pay off the loan, the account is closed. If you need to borrow again, you’ll have to reapply.

Personal loans usually have fixed interest rates.

The interest rate is locked and doesn’t change for the life of the loan. Like the loan amount, interest rates on personal loans are based on credit rating. Generally, the better your credit score, the lower your interest rate. Lower interest rates are ideal because it means you pay a lower cost for borrowing the loan. Some personal loans come with a variable interest rate that changes periodically. The drawback of a variable interest rate is that your payments can fluctuate as your rate changes making it harder to budget for your loan payments

Personal loans a fixed repayment period.

You have a set period of time to repay your personal loan. Loan periods are stated in months, e.g. 6, 12, 24, 36, 48, and 60. Longer repayment periods lower your monthly loan repayment, but they also mean you pay more in interest than if you had a shorter repayment period. Your interest rate may also be tied to your repayment period. For example, you may have a lower interest rate with shorter repayment periods. Longer repayment periods also mean you’ll be paying on the loan for a longer period of time.

Beware of scams.

Watch out for scams, particularly if you’re shopping for a lender who’ll approve you with a bad credit history. Avoid any lender that guarantees approval without checking your credit history or who asks you to send money (especially via Electronic transfer or a cash send) to secure the loan.

Bottom Line

A Personal Loan is a great way of overcoming periods of financial strain and can be a reliable way to cover all sorts of expenses. Whether you need it to pay for that sophisticated wedding planning and co-ordination service for your spectacular wedding in Lagos or you want to buy that hardwood Directors Chair and Morris chairs that you have always dreamed of. So, if you’re planning to take a Personal Loan, these are some of the things that you need to keep in mind. Also, ensure that you choose the right amount and time period to repay the loan before approaching a Personal Loan.

Article credit to jpmoney


5 Tips For Cheap Apartment Renos

5 Tips For Cheap Apartment Renos

When it comes to renovating your apartment, you’ve probably been told that in order for it to look good, you’ll need to hire an expensive professional. However, that’s far from the truth.

If you’re thinking about renovating your place, here’s five of the best tips you need to consider first (and how to save some cash doing it):

1) First, Ask Why

You should always think about the purpose of the renovation, and you’re desired end result. Is it to make your place more attractive to sell or rent? Or is it for your own living enjoyment? This will allow you to determine whether the renovation is a short-term or long-term investment.

If your reno purpose is to rent or sell, it would be wise to spend less on materials, the labour, and furnishings. After all, in this situation, your goal is maximum ROI (return on investment).

However, if the renovations are for your own enjoyment, you can afford to spend more on furnishings, but ultimately keep your expenses down by “shopping around”, as well as handling some of the work yourself.

2) Now Ask Around

Chances are some of your friends, or someone in your own family has renovated their place in the past. Although prices may have changed a bit since then, they may still be in touch with their contractors or have referral information for someone they trusted to complete the job.

Don’t forget to ask your friends and extended network for help too! Most people are willing to lend a helping hand and do some heavy lifting in exchange for a few drinks or a nice dinner.

A combination of hiring contractors and using your friend’s assistance can save you a fortune and get the job done exactly as you had hoped.

3) DIY… IYC (Do It Yourself… If You Can)

For anything other than electrical work, DIY can often be the best option. After all, you know exactly what you’re looking for and can be in control of your time and budget.

When it comes to sanding floors, painting walls, or installing shelves, you may surprise yourself to find just how handy you CAN be with some basic tools.

If there’s something you think you can do, do it and save some vital cash in the process.

4) Be Stylish While Staying Within Budget

One of the biggest expenses when it comes to doing a reno is furnishing your place. The truth is however, you don’t need designer brands to make your home look stylish.

When browsing through magazines and Pinterest for styles ideas, if you see designer made light fittings, lamps, tables, or accessories, know that with a little digging you can almost certainly find the non-designer version in that very style for a fraction of the price.

A good general rule to follow is to keep things simple; don’t overbuy, and don’t over clutter. Keeping your apartment clean, spacious, and simple can go a long way in making your place look fabulous.

5) The 3 x RE Principle

REcycle, REdesign, REuse – the 3 R’s rule will come in handy when decorating your brand new interior.

Don’t feel the need to purchase new items. You can buy recycled and refurbished furniture much cheaper, and often it can give your apartment a really unique look and feel.

The same rule applies to appliances – look at purchasing a gently used version from popular classified sites (Kijiji, anyone?). As always though, be careful purchasing used electronic items and do your research beforehand.

With a little bit of elbow grease, common sense, and friends you’ll get those renovations out of the way on the cheap, with stunning results.

Purchasing used goods can be a smart move, and one that can save you a lot of money, however, compromise only on price and never quality or safety

What’s your relationship with money like? It’s important to understand the way you view money. Call us to talk to us contact


3 Big Ways A Short Term Loan Can Make Fall Easy

3 Big Ways A Short Term Loan Can Make Fall Easy

Fall is finally here, which means it’s time to break out the warmer jackets and wonder if you’re going to need sunscreen or an umbrella when you walk out the door.

The good news is those beautiful leaves are finally starting to change colour, it’s getting a bit spooky with Halloween coming up (Stranger Things, anyone?), and the cosiest time of the year is just around the corner.

With summer now behind us, Fall means getting back on track. After all, during summer, it’s pretty common that we all spend a little more than we have, which can mean making ends meet a bit more challenging.

We’ve all heard the expression “when it rains it pours“, right? Well, they’re not talking about the weather forecast for the week! Often when we plan for one expense, we get hit with two or three more at the same time.

Luckily, there are many options you can explore to help you get back on top. For many people, a short term loan from Entourage Loan is a perfect, quick, and simple solution that helps them back on their feet.

Here are three big ways a personal loan can make your life easier this autumn season.

1) When You Have Those Unplanned Medical Expenses

Picture this: For the past few weeks, you’ve been feeling a tingling sensation in one of your teeth when drinking cold beverages. Unfortunately, over the weekend during an intense hockey game on CBC, it reached the point you can no longer ignore. When it comes to emergency dental work, money shouldn’t be another source of pain.

2) When You Need a Small Lump Sum

Congratulations on finding a new apartment! After a lengthy trip to Ikea (I recommend the Malm line) for all your new furniture and working out your first month’s rent budget, you receive an e-mail from your landlord reminding you the deposit is now due. With a personal loan, you’ve got a quick way to cover that expense with minimal impact on your bank account. Give it a try!

3) When You Need To Get Things In Motion

Whether your car has just broken down or the subway into work is under constant delays, everyone needs a reliable source of transportation to get from A to B.

A personal loan is a great solution to get you back on the road, whether to buy a bike to get to work faster than the public transportation or for that first lease payment on a slick new ride.

Whatever your short term needs, Entourage Loan can help you. Our same day express loans are the quickest and most easily accessible way to secure funds when you need to make things happen fast.

It’s easy to apply online, any day of the week, any time of the day. You’ll get a decision minutes with no paperwork, and no bank lines. Once you’re approved you’ll get money in your bank account generally within 24 hours. Now that’s speedy.

Entourage Loan; we are here to help you weather any (Fall) storm.


Now that you’re on the right track for Fall, I welcome you to reach ou to us to never stress about money again. Sound like a dream? It’s not as far out of reach as you think.



5 Questions To Ask Before You Apply For A Short Term Loan

5 Questions To Ask Before You Apply For A Short Term Loan

If you are thinking about applying for a loan, there’s absolutely nothing to be ashamed of.

In fact, almost everyone has some form of credit or debit – from auto loans, credit cards, mortgages, and student loans.

So, if you are thinking about applying for a loan, the most important thing is to make an informed decision.

First: Make sure you’re applying for a loan for the right reasons.

Second: It’s vital you research your options, and that you know what to look for when applying for a loan.

Below are the five basic questions you should ask yourself every time you apply for a short term loan.

1) How Much Do I Really Need To Borrow?

If the purpose of the loan is to purchase an item, for example, is it possible for you to save half and apply for a loan for the balance – thus reducing the amount you need to borrow?

Perhaps though, you need a loan for more time-sensitive reasons and therefore saving money in advance isn’t an option.

Regardless, always review your budget and make any necessary adjustments.

Once you have an up-to-date budget, you will be able to see how much money you have available to allocate to loan repayments.

2) Do I Make Enough To Repay The Loan And The Interest?

The first thing to be aware of when applying for a loan is that the required minimum monthly amount of your loan is not the total amount.

In addition to the minimum monthly repayment, your loan will also be accruing interest. Depending on the loan, the interest rate will accrue daily, weekly, or monthly.

With your revised budget, make sure you are pulling in enough cash to repay at least the minimum monthly amount, and ideally, the interest accrued during the period.

To explore the total cost of a short term loan, including interest charges and monthly payments, try playing with our online loan calculator.

If, after using the loan calculator and reviewing your budget, it appears you will be struggling to make loan repayments, then we recommend not taking a loan out.

There’s plenty of alternative financial plans to dig yourself out of debt. Check out my earlier article on the best way to crush your debt.

3) How Long Do I Have To Repay The Loan?

The loan term, or the time that you have to repay your loan, varies depending on the type of loan you apply for and the amount you wish to secure.

From weeks to months, choosing the amount, term, and the associated interest rates according to your budget is the most important point.

One thing to keep in mind is the ability to repay your loan early.Entourage Loan, for example, allows its customers to repay their short term loan without any early repayment penalties.

This option allows customers to make repayments based on their own budget, which makes paying their loan more flexible and comfortable.

Make sure whatever lender you choose allows you the ability to repay early without incurring any annoying penalties.

4) How Will I Manage My Other Debts?

If you already have other debts such as a credit card or other loans, taking on more debt is not the best idea, as it will only result in you becoming further in debt.

Before applying for a short term loan, make sure you have budgeted for paying your credit card bill and other loans as well.

Does your budget allow you to manage another repayment?

5) Have I Picked A Trusted Lender?

There are plenty of financial institutions on the market offering short term loan options including the big banks.

In addition to the fees, and terms and conditions, it’s important you feel comfortable with the lender you choose.

Make sure all fees are clear, the company is credible and trustworthy. Read online reviews from other users on a website such as Google to see which lenders have a good reputation.

The process of finding the right credit institution will help you feel more confident that your choice is the right one!

At Entourage Loan, we believe in doing things differently. As an international pioneer in the field of financial technology and mobile lending, we have expanded our operations to 24 countries since 2005.

When you apply for one of Entourage online loans, you can be confident you’re in good hands.

Our mission is simple: To provide the best, fastest, and most user-friendly lending services available 24/7 with best in class customer care. Apply online in just minutes and receive the money you need within one day.

When it comes to money, with Entourage loan, you’ve got less thing to worry about.

Reach out to us for great advice contact us


What You Should Know Before Taking A Bank Loan

Most people agree that an online loan can be a good idea if you’re in need of extra money or if you need to consolidate debts.

Today, the majority of people have a loan or some form of credit with a financial institution, and a bank loan is one of the quickest and most easily accessible ways to secure funds.

If you’re currently exploring your personal loan options and wish to avoid problems caused by high interest rates or the problems inherited if you’re unable to meet the legal obligations of a loan, there are several things you should keep in mind.

Make Your Calculations Carefully

Most loan calculations are made by financial institutions, however, when exploring loan options you should always do your own calculations in addition to any expert advice you may receive.

Although banks accept gearing up to 60% of revenue, it’s always best to look for a bank loan with a lower percentage that allows you to make repayments comfortably and still enjoy your life.

Keep Your Eye On The Contract

Always read the fine print. The details in your contract are very important. Before you sign your loan contract, make sure you’ve read it carefully. Twice.

Each clause and each point can make a difference between a loan that is easy to manage or one that is complicated and may later cause problems.

The Loan Period Is Very Important

When exploring bank loan options, the loan period is one crucial element. For a mortgage, the loan period may be up to 30 years, while for a personal loan, the loan period may be just five years.

It’s always better to secure a loan for a shorter period, however, the loan period should be long enough that it’s comfortable for you to make repayments and pay off the entire amount.

Explore Your Options


Last but not least, read as much information as you can. Ask friends about their loan experiences. Carefully shop around and explore offers from different banks so you can make the best choice.

There are plenty of banks that offer great deals, but there are many bad offers out there which can cause a headache down the track. Be informed.

A New Alternative

More and more people are looking to take the stress out of borrowing by applying for an online loan. The majority of online lenders offer a quick and easy way to apply from the comfort of your home, any time. Many lenders also have very competitive rates and terms that rival some of the biggest traditional financial institutions. If you’re looking for a fast online loan, an Entourage Loans can be a great way to start.

Our application process is fast, easy, and free. In just 10 minutes, you’ll have a decision from our automated system with amounts between 50,000 to 5,000,000. Borrow for up to 2 years, making each payment affordable and easy to manage.

So, how can we help fund your passion?

I recommend you to reach out to find out how to never stress about money again. 


Every Money Problem Has A Solution: 4 Ways To Take Your Power Back

Every Money Problem Has A Solution: 4 Ways To Take Your Power Back

“Is this situation going to matter a year from now? If not, it’s not worth worrying about.”

– Angela Orr

We’ve all been there.

Regardless of the specifics, we all have found ourselves in a difficult financial situation, and have had the drama and emotion follow us around like a bad storm.

Suddenly, we feel overwhelmed and our worries become magnified. That’s the biggest issue with financial difficulties. Often, we tend to think our problems are bigger than what they are.

Whatever problem you are currently experiencing with finances, the most powerful remedy is to be in control.

Over the course of my life, I’ve collected my go-to methods for getting things back in control. Here’s my financial recovery top four:

1) Get Some Perspective

Get Some Perspective

First, it’s important to take a step back and get some perspective.

Look at the situation objectively as if you were the third person, and then ask just how serious this problem is.

Is it life threatening? No.

Will things always be this way and will I feel this stressed forever? No.

Will this matter in a week, a couple of months, or a year from now? Probably not.

Are there solutions available? Yes.

2) Empowering Action

Empowering Action

Deciding, being proactive, and taking action are all powerful ways to combat negative thoughts or feelings. When we feel like we are in control of our lives, we feel more positive.

By acting, we can replace a negative with a positive. But before taking any action, it’s important that we are doing it from a calm and centred mental state and not simply reacting out of emotion.

Not having access to money can make us feel powerless, and that our opportunities are limited. While money isn’t a true source of happiness (trust me on this one), it can empower us and help us to create more opportunities.

Securing a loan to get your car fixed, for example, can lead you to feel mobile and, therefore, in control again. Securing a short term loan to pay off those pesky bills and putting an end to those scary “reminder notices” can ease your worries.

3) You’re Not Alone

You're Not Alone

It probably comes as no surprise to learn that lack of finances is the leading cause of stress in Nigeria. In fact, financial worries often impact other very important parts of our lives such as our relationships.

Therefore, it can be helpful to remember that whatever frustrations you may be feeling about money, you are not alone. Your situation, as difficult as it may feel, is not unique and can be solved.

4) There’s Always A Solution

There's Always A Solution

So, if it’s to get a car back on the road, purchasing a transit pass so getting to work becomes easier, or securing the funds to fly across the country for an important job interview, having access to money is a liberating feeling.

If you are considering a short term loan to get back in control and to create more opportunities, we’re here to help give you some peace of mind.

Our mission is simple – to provide the best, fastest, and most user-friendly lending services available 24/7. You can apply for an online loan in just minutes and receive the money you need within one day. It’s that simple.

“Don’t sweat the small stuff…and it’s all small stuff.”

– Richard Carlson