Mon, 05 Aug 2019 05:25:05 +0000 en-US hourly 1 Online payday loan services -Fast and easy payday loans online Mon, 05 Aug 2019 05:25:05 +0000 Fast and easy payday loans online

Online payday credit, or an online payday loan, is a form of alternative (non-bank) financing. It is also suitable as an alternative or as a supplement to the current account credit. An online payday loan at is suitable for all people who want money.

An online business loan has the same aspects as regular credit. The applicant pays a one-off closing commission and a monthly interest rate. The difference is that an online loan, as the word says, can be applied for and taken out entirely online. The advantage of the applicant is that it saves a lot of time and paperwork.

Am I eligible?

  • Located in the Netherlands
  • Annual turnover from € 300,000
  • Active for at least 24 months
  • Business bank account

How do I apply for business credit?

Apply online within 20 minutes

  • Enter your basic data and upload your financial documentation
  • Our experts assess your application within one working day
  • Upon approval, you have direct access to your credit

How does a business loan work?

A business loan is granted to a company by a lender. The loan has a limit and maximum duration based on the financial position and risk profile of the company. The company pays the loan on a straight-line or annuity basis according to a predetermined repayment schedule. The company usually pays a one-off commission on the loan amount plus monthly interest.

Borrowing from an online financier is efficient and reliable. No physical agreements or paperwork are required for the application process, which saves both the applicant and the provider a lot of time. Because financiers who work entirely online often use technology, the duration of the application is also much shorter than with traditional (bank) financing. Requesting online is completely reliable and secure. Financiers work with data encryption in a secure environment and never provide data to third parties.

How do I start a request?

  • Enter your basic data and upload your financial documentation
  • Our experts assess your application within one working day
  • Upon approval, you have direct access to your credit
3 Signs You Need A Loan! | Online Payday Loan Insurance Sat, 04 May 2019 21:59:29 +0000


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Borrowing money is not always synonymous with budget out-of-control. In some situations, the loan helps to organize accounts and even save money. Here’s your case:

I have expensive debts

Changing high interest rates for a cheaper rate is a good way to get the finances in order and to save money. It is better to take out a personal loan and clear debts on the special or revolving credit card check than to see the debt multiply in a short time.

But the benefit of swapping expensive debt for cheap can disappear if you do not take care. There are two ways to make this exchange:

Worth it

Take borrowing worth of expensive debts and take them off. In place of an expensive line of credit, you will pay lower interest. It is also more practical because you will fail to pay simultaneous debts and move on to make only one monthly payment. Understand more about debt consolidation.

Not worth it

Acquire the loan in the value of expensive debts, but do not pay what is in arrears and incorporate the money into income. The more likely you are to spend all the money and stay in debt.

I’m thinking of splitting the invoice from the card

Picking up a personal credit is more advantageous than splitting the bill on the card if you compare the rates – even after changing the rules of the rotary, which forces the consumer to pay the bill after 30 days of the minimum payment. This rule is beneficial because it migrates the consumer from the rotary to the installment of the card, reducing the interest rate of the house from 500% per year to something around 150% per year. Even so, it is still much more expensive to fail to pay off the total credit card bill and be required to install.

An emergency expense has arisen

An emergency expense has arisen

Unplanned expenses that can not be postponed, such as some medical emergency in the family, may appear and tighten the budget. First, it’s important to understand if you have any other expenses that you can cut to handle the emergency. Also assess whether to dispose of some asset, even a vehicle, before borrowing money.

If it is not possible, the way out is to get money to pay. In these cases, it is hard to choose objectively and you may end up hiring a credit option that is not the best for your case. The tip is to avoid falling into pre-approved lines with high interest rates, such as overdraft or credit card, and seek a personal loan.


The hiring process is very simple: in 5 minutes you hire the loan that best fits your financial profile. But do not forget: It is important that your loan does not commit more than 20% of your monthly income!

How to find a secure loan provider Fri, 19 Apr 2019 02:17:22 +0000


In the time when the market was limited, it was not difficult to find a loan provider online.

In the time when the market was limited, it was not difficult to find a loan provider online.

Firstly, the committee was not that big, and secondly, there was a relatively high probability that one of your relatives could recommend you a loan business. But now that the market has grown and the net swims in loan providers, how can you be sure that you find the best, cheapest and, not least, safest provider on the market?

Let’s play with the idea that you want to loan 3000

It is a fairly low loan amount, but of course you still want to get the loan at the cheapest price without compromising on security. So how do you wear it?

Finding the cheapest loan online is no longer a problem – in fact, there are different comparison features and websites dedicated to recommending you loan sites that offer the best deals. It is, on the other hand, a little harder to find out which loan sites are safe to use, especially if you have never tried to borrow online.

Firstly, we can only say that you have to go after your gut feeling. If the offer sounds too good and cheap to be true, it probably is. If you are unsure whether a provider is real or not, we strongly recommend that you go in and check out people’s experiences on pages such as Trust Pilot. Here the users have the opportunity to describe their experiences with different loan providers, and by taking a look at the list, you can also get a clear overview of which loan providers are in the lead. If a loan provider does not yet have any reviews, and you cannot really find anything about their services online, we generally recommend that you skip them and head on for a new offer.

Before submitting your application, there are also some basic things to investigate. First and foremost, you need to make sure that the loan business is registered. This usually appears at the bottom of the website or in the contact information. The company’s number can then be confirmed Data and other public Danish pages. In addition, make sure that the borrower has a customer service that you can contact if you have any problems. As a rule, it is not necessary to call the company during the application phase, as this usually works smoothly, but it is nevertheless necessary to have a number you can call if there should be something. As a rule, the company will also contact you if your application is approved.

When you borrow money online, it is essential to focus on the security and protection of your personal information. It is therefore also the case that all loan providers today need ID. By signing your contract with your key card and ID, you know that your data is in safe hands and at the same time facilitates the application process and reduces the likelihood of others misusing your information. Never remember to share your personal ID information with others.


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The bank rejected the loan application – what next? Thu, 11 Apr 2019 22:03:22 +0000

The bank may refuse our loan application for a number of different reasons, not only because of negative credit history at BIK, presence in the debtors ‘register or possession of bailiffs’ employment, but also if it believes that our income does not allow it.

Today I will present a situation with which many people probably meet. What’s more, I went through this situation by myself, as a matter of fact a dozen or so years ago, but the subject is not a stranger to me. The main topic today is rejected applications for cash loans by banks. What to do in a situation when we need cash for rape and we can not get it from the bank?

There are many reasons why a bank refused a loan application. I remember that in my case the main reason was that I had already repaid the loan (specifically installments for the equipment) in another bank. In this situation, none of the banks gave me credit just because my creditworthiness simply did not allow it. At that time I received the lowest domestic and not enough of it, I already had one loan which I repaid. That is why the banks rejected my loan application. This is one of the most common reasons for rejected applications but there are also others. For example – no interesting credit history at BIK in case if we repaid the previous loan with long delays after bailiff seizure. Today I will try to draw up proposals for additional cash for each of these three cases.

Rejected loan application due to low creditworthiness

Rejected loan application due to low creditworthiness

Undoubtedly, it is still the most comfortable situation of these three because in such a situation practically every non-bank company gave us a loan. And as the situation is comfortable, it is worth choosing an offer that will also be comfortable and therefore the cheapest for us, if someone would ask me for the cheapest loan outside the bank, he would point to Kokos. At the same time, I would warn you that here, unfortunately, we will not get the loan from the hand and we will have to wait for it some time. All because Kokos is not a traditional loan provided by a non-bank company and a community loan provided by private investors. That is, by people who want to make a loan and not lose money. Therefore, they choose the most favorable auctions for themselves and those to which they have the highest degree of certainty that the person will be repaid in a timely manner. So if for the first time we borrow in Kokos, unfortunately we have to give ourselves some time. Both for the registration on the site itself, the preparation of the auction (in which we determine the amount of interest on the loan), but also for … waiting. That would be the right number of people willing to lend us extra cash. If we do not have time for it, it’s better to look in other places, for example …

The bank rejected the loan application – an alternative non-bank loan

The bank rejected the loan application - an alternative non-bank loan

Another loan in which I would say as the cheapest loan in a situation when the bank refused to grant us a loan. The main reasons for this were relatively low incomes. At Providence, we now have the chance to get a pretty good offer, provided we choose the right option. I mean the new Provident proposals, among which there is the Standard option (monthly installments) under which we will get the cheapest loan repayment option, almost similar to the installment of bank loans. It just so happens that I borrowed a good loan a dozen years ago in this company when the bank did not give me the loan I wanted to get. So far, I do not regret my decision, despite the fact that then the cost of the loan was much higher than now. The only option available was currently the most expensive or home one. The waiting time for a loan in Providencie is in the best situation for some 24 hours, if we care for something faster, we can try it in ..

Which is a semi-detached company Provident which specializes in providing only online loans. Thanks to this, we are sure that we will get a loan much faster than in the Providenc, and without any additional formalities dealt face-to-face. The option is much faster but also slightly more expensive to pay. Before you apply for a loan, it is worth checking how much the monthly installment will be for the specific amount and repayment period that interests you.


Urgent Loan | Apply for Loan in 5 Minutes Sat, 06 Apr 2019 22:15:24 +0000

Financial penalties happen to anyone. Whether it is a car crash, a health problem or a broken refrigerator, it is a fact that from time to time we may need urgent money to cover some expense that we had not planned

At that time, the best way out is to apply for an online loan.

AJ Raffles offers a service for those who need urgent loans , meeting the demand of people in need of fast cash, offering values ​​ranging from $ 200 to $ 3,000 and sending the money within a few hours after loan approval.



The entire process of urgent loan is done completely online, without you having to leave the house or face bank queues. Through the internet, it is possible to make a simulation of your urgent money by choosing the amount you need and the number of installments in which you want to pay it.

In real time, you’ll be able to visualize the value of the installments and the interest rate that your loan will have. After evaluating the conditions and see how they fit into your financial planning, you make the request informing your personal, professional and bank details for personal credit analysis.

You receive the response in a few minutes on the website and also by email and, if approved, the money falls on the account reported in a matter of hours. The return will also be available within your registration on our website within the personal area, where you can view more detailed information on your order.

You can also do it all by the application, available for Android. In the application, you can view your installments, expiration date, contract and other information on your loan.



As we speak, money can be used for various purposes, some of them include:

  • Retirement Loan: Retirement does not always go as planned and an urgent loan may be the way out to put the retiree’s finances on track;
  • Loan for microentrepreneur: anyone who wants to undertake and be their own boss may have difficulty finding fast loan in the beginning. The urgent loan comes as an outlet to get money fast and open or leverage your company;
  • Debt Loan Loan: Letting debts accumulate can be a big problem. But with an urgent loan , it is easy to settle and get out of the way;
  • Retirement Loan: Changing the living room floor or the kitchen cabinets are activities that always end up being put off in our financial planning. However, with an urgent loan the plans to carry out the remodeling of the house can effectively get off the paper;
  • Loan to study: Investing in education is essential to gaining the best professional placements. But paying for a new course may not come cheap and urgent loan may be the solution to realize that career investment;
  • Loan to travel: not everything in life is work, but we can not always afford to take a few days off to recharge the energy. The urgent loan can provide the money that was missing to leave the house a few days and return to the renewed routine.



The urgent loan is completely online, 100% safe and you do not have to present any collateral (like your home or car) to get it. Even those with the dirty name can make their request and have the chance to get money fast and without bureaucracy.

Our mission is to play the role of your financial reserve by offering a quick solution to your urgent needs. We do this with criteria, seeking to provide the best loan conditions for each financial profile.

The characteristics of the small loan Sun, 24 Mar 2019 22:18:55 +0000

We have often mentioned the small loan as one of the best ways to obtain immediate liquidity. Indeed it is so, this option made available by the National Social Security Institute is an excellent solution for obtaining loans.

What are we talking about exactly? The small loan is a form of credit that belongs to the and that does not need documentation to be granted. It is paid in cash at the cash desk of the institution or on the bank / postal current account of the person requesting the loan.

But do you know what the characteristics of the small loan are? And above all, do you know the details of this formula ? Before making your choice, you need to know the options that will allow your finances.

Learn about the small loan.

Learn about the small loan.

  • The small loan can be requested by public sector employees and retirees enrolled in the unitary management of credit and social services. So the first requirement for obtaining this loan is being (or having been) an employee of the state .
  • To get the small loan you don’t have to hand in documentation and you don’t have to justify the use of the sum. It is not necessary to present medical certificates if the money is used to cover medical expenses.
  • The loans are annual, two-year, three-year and four-year . This means that you can ask for one, two, three or four monthly payments (or pensions) to be repaid in 12, 24, 36 and 48 monthly installments respectively. In practice, the number of installments is proportional to the amount requested, which is spread over the years.
  • The benefits for in providing this loan? The inclusion of an annual nominal interest rate of 4.25% in addition to administrative expenses of 0.50% and a risk fund premium.
  • It is possible to request a loan from again after a proportional number of months has passed (6 months for the annual one, 12 months for the two-year period …) to the type of amount requested.

Do you clarify the doubts? To learn more about the small loan you can take a look at the official rules and in this page you will find the handbook necessary to calculate the net amount that can grant.

So, have you already found the right loan for your needs? Leave your questions in the comments.

Business Loan for starting entrepreneurs Wed, 13 Mar 2019 11:59:38 +0000

Do you have ideas on how to start a business, but do you lack funds? Then you will probably be looking for a loan for start-up entrepreneurs. This is quite common, but if you want to find a quality solution, it is an extremely complex problem . When you realize at the outset that a start-up entrepreneur is not an attractive client for banks, but not for campaigners and non-bank companies, because it is not very confident about the money repayment, it will be clear to you that it will be a fairly long run. track. At the same time, a loan to start-up entrepreneurs is not a thing unattainable, so in this article, we will try to guide you a little and help you in handling this financial product.

Where for a start-up business loan?

If we disregard all the classic loans (typically non-purpose loans), which in principle can also be used by a start-up entrepreneur , you can go in two directions at the beginning of a start-up business loan application. The first are the banks . These can be described as extremely cautious lenders who, in the vast majority of cases, will be extremely angry at the idea that they should lend to entrepreneurs without any history. The classic request for a bank loan is that when filling out the stacks of forms, you will have to prove, among other things, the amount of regular income, which is a problem with a novice entrepreneur. Prepare for long talks with bank staff , great bureaucracy , but if you make it to a successful end, you will have a loan for start-ups with a fairly low interest rate .

The second way is the non-bank companies and the campaigners . They are not so delicately cautious and lend more willingly, but not blindly. They will certainly try to get you a little “click”. So be sure to prepare your business plan and an explanation of how you plan to earn money and what you will be repaying for a start-up business. The advantage is also the fact that if you are already on the imaginary business start several times and in the past, for example, you have a problem with repayment of the loan in the bank, you have the door automatically closed, which non-banking companies do not solve at all .

For how long and how much loan will it offer to start-up entrepreneurs?

Here depends a lot on who you finally borrow, so again in two variants. If you can find and settle a loan for start-ups at a bank (less than one finger on the market), get ready for interest at around seven percent , slightly lower. Regarding the maximum amount provided, the standard is a maximum of one million crowns, but each applicant is assessed individually and Raiffeisenbank also offers ten million. The maturity is usually between five and ten years.

In the case of non-bank companies and campaigners, the interest will be between eight and ten percent, with similar amounts and maturity parameters. But be aware that these institutions will be more likely to require a guarantor or pledge for a start-up business loan.

In conclusion, go through the offer thoroughly , because the start-up business loan is often hidden or appears in combination with other products.

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What can you finance with a mortgage loan? Fri, 08 Mar 2019 22:56:19 +0000

Non-purpose mortgage

Non-purpose mortgage

With a non-purpose mortgage loan, virtually anything can be financed. Most often, however, people take a special-purpose mortgage, and then they finance the usual properties, such as housing units or land.

You can also finance the construction of a family house or the settlement of co-ownership in the case of inheritance or divorce. In extreme cases, you can also finance a separate land, field or pond. But this is less common. Most often it is a house, apartment or cottage.

What should you focus on when choosing a mortgage?

When choosing a mortgage, you can make a number of mistakes that are difficult to solve. At the beginning, it is important to distinguish whether the construction of a property or a simple purchase is to be financed by the loan.

Financing the purchase of an apartment or house using a mortgage

Financing the purchase of an apartment or house using a mortgage

When buying a property, it is necessary to calculate the total cost of the mortgage and not just monitor the interest rate. It is also important to know whether management fees are involved, such as making an estimate, approving a loan, what are the regular mortgage fees, whether the client’s bank forces them to have a current account or not. And if so, under what conditions.

The two most important parameters you should focus on are the total cost of the mortgage and the way you draw money.

On the other hand, the bank may sometimes motivate to set up an account and give the client a discount on the interest rate. Another parameter can be life insurance. Some banks give a discount if you have a life insurance policy. You need to find out whether it pays to take out life insurance and get a discount or not.

It also depends on the length of interest rate fixation. In general, shorter fixation is better because the mortgage is easier to pay or refinance on better terms, without unnecessary penalty fees.

Mortgage financing for construction

In addition to the interest rate, there are a number of related parameters that you should pay attention to. Fees and their amount are important. But the main thing is the way of drawing money during construction . Other parameters that need to be addressed are the same as in the case of a purchase.

If the client does not stop another property, the bank does not pledge in this case. The value of the property is gradually increasing during construction, and the bank thus also gives the client money gradually. There are the biggest differences between banks. First, in fees, then whether the bank requires all invoices or not. If not, clients can save a lot.

Furthermore, it is important to know if the bank requires an assessment of the current value of the collateral at each drawdown or just a few times. The difference is whether you pay a drawdown fee three or fifteen times. Or even thirty times. In the case of construction, it is therefore necessary to focus more on the way of drawing than on the interest rate .

Business Loan for entrepreneurs? These are your options Thu, 07 Mar 2019 16:50:19 +0000

Do you need a financial injection for your business? Read on and learn a few ways you can and where to borrow. We bring you a comparison of bank and non-bank loans. And if you do not want to read, go straight to us. We will advise you there.

Do you have the idea of ​​a million business, but are you missing the initial capital? Or are you already working on your dream project, just needing to get a little “financial injection”? Read on and learn a few ways and where you can borrow for your business. Do we bring you a comparison of bank and non-bank business loans that are the most advantageous?

Bank loans

The most common way you can choose if you are looking for financing your project is to apply for a loan at the bank. It’s an option to get high amounts from a verified resource with long-term repayment options. A disadvantage, however, may be the lengthy process that prevents bank credit. Banks are whimsical in who they borrow their money, and they care very much to look their head from the head to the heel, and unfortunately this whole process accompanies complex paperwork. What to prepare if you apply for a business loan? The Bank will want at least a minimum company history (one or two completed tax periods), a regular payment to the health insurance company, SSA and the Tax Office, a positive business result and proof that your company is not in liquidation, bankruptcy or settlement.

From the beginning, you have the possibility that the bank will not approve your loan application. A bank loan is also often closed for a long time, and the borrower must have a bank account in most cases. Banks also generally do not provide short-term loans and prefer to choose longer-term clients. Thus the disadvantage is a lot, the advantage can be lower interest than with non-bank loans, which can be found elsewhere today.


If you do not want to go to the bank and you need to get funding for your project more individualistically, finding a suitable investor can be the way for you. But that may not be as easy as it seems. Finding and, in particular, persuading the right investor to support your project may be long. First of all, you must be excited enough to invest in your business to make a large amount of money. But nothing is free, and this rule also applies to investment. No investor puts money in somewhere where he does not dump anything, and that is why difficult negotiations are taking place. What role will the investor play in the project? You can only agree on a loan with a certain interest – which would be the simplest option – but much more often when talking to the investor, you are talking about the percentage of the income or the share in the company. And the higher the amount, the higher the shares will be – not to mention that every clever investor will try to negotiate a majority stake so that he can influence the business at any time for his benefit. These are the risks that you have to count on. On the other hand, the investor may not just be a hungry supporter that cuts your project into pieces. If you choose correctly, you can also supervise and supervise your project within your own experience and be such a good asset to the team.


In crowdfunding, a large group of people will be part of your project, each contributing a relatively small amount (usually between 100 and 5000 crowns). Crowdfunding then offers you two ways to motivate your contributors to invest: one option is to bid on your project, the second option then offers rewards. Often, it is a form of merchendising, a service voucher, a movie title, etc. The amount of reward increases depending on how much the contributor is willing to invest – the one who has contributed the most can then acquire certain powers to influence the project.

Crowdfunding does not give you credit as such, but rather a form of investment. A disadvantage over other variants may be the emphasis on the well-thoughtful promotion you have to create for that method so you can make the most money. Thanks to this promotion, however, you are more likely to talk about your project within a large group of people before you even finish it. “Crowdfunding is especially suited for beginner entrepreneurs who want to turn their fans’ feedback into real orders and verify the concept of their business’ nonsually ‘,” says Jonathan Herza, a hunter for the Hithit crowdfunding server. “We can raise capital up to 2.5 million crowns, as well as contacts with our first customers, which is very valuable.”


In principle, factoring works as a method of financing short-term loans, whereby a factoring company purchases your issued receivables. Factoring has three major benefits. Firstly, a factoring company takes over all the risk of default. Secondly, it is responsible for the overall administration and administration of the claim. Thirdly, factoring is offered as a possibility of quick financing. When can you pay for it?

Let’s say you do business in a fast-paced sector, you can not wait a few weeks before the invoices expire and you have to put high demands on your working capital. In such a moment, you can pay to sell some of your factoring company’s claims and have it paid off within a few days of exposure.

But of course it has its own pitfalls. The price for this service (or services, if we take into account all three benefits that factoring offers) is usually around 10-20% per claim. It is based on the amount of work that the factoring company will have – in terms of one large claim, the price will be lower than if it is a smaller one. Companies are counting on the risk that may arise in the absence of payment (with more borrowers the risk is greater) as well as with the overall administration, which of course is more complex with the increasing number of receivables.

Non-bank loans

Last but not least, there is another option: non-bank loan . It may seem at first sight that companies offering loans in the non-banking sector will mainly offer small loans with short maturities. But it does not have to be so. Compared to a bank loan, which can be lengthy and complex, it is, of course, a much simpler way to get an investment into your business because it offers much more benevolent conditions for getting it. Unlike a bank, the private entity does not place an emphasis on your payment history or the ability to repay. You can get a loan so much faster, without complicated paperwork, and you have a better chance of getting your loan approved since the application. But it’s not just small amounts.

For example, if you make a business loan (which offers the most advantageous business loans in the non-banking sector for the long term), you can get up to 50 million crowns much faster than when you apply for a loan at the bank. Companies in the non-banking sector can not only cope with banks, but often overcome them with high flexibility and a better personal attitude.

The correct course of non-bank loans is supervised by the Inspection, which can be contacted if it suspects that it is not behaving fairly within this sector. The non-banking sector thus offers the same credibility and manageability to entrepreneurs.

These are the basic ways to get finance into your business. And now that you know, you can boldly embark on the realization of your dream!

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What is annuity loan? Wed, 20 Feb 2019 23:01:44 +0000

Deferred annuity owners can access temporary, tax-free access to their account funds through an annuity loan. Generally, annuity loans can equal up to half the account balance. As long as the loan payments on time, the loan amount is not taxed.

Loans and interest are paid back to the annuity account. If the owner stops making loan payments or default settings, the loan is treated as a distribution. In the United States, annuity distributions are taxed on income. A penalty charge is also charged if the borrower is under age 59 1/2.

In general, insurance companies provide annuities. These insurance companies set interest rates and terms for annuity loans. Some companies charge the loan service fees in addition to interest.

In general, insurance companies provide annuities. These insurance companies set interest rates and terms for annuity loans. Some companies charge the loan service fees in addition to interest.

Annuity loans are preferred over withdrawals to access annuity funds. Loans can save the owner money on taxes. Payments are immediately subject to income tax and penalty tax, if applicable.

Borrowers usually have up to five years to repay an annuity loan. Some insurance companies extend the repayment period for loans used to purchase a primary residence. The extended maturity is usually no more than 20 years.

These loans also have some drawbacks. If one is not paid back in time, it is treated as a distribution. The borrower is obliged to immediately repay the loan, interest due, loan fees, plus any taxes due. If the owner is unable to repay the loan, interest will continue to accrue on the outstanding balance of the loan.

Annuities are designed to build tax deferred earnings. These income will then be paid in installments to provide retirement income. Loans will slow down annuity is the earning capacity until funds are paid out. Any outstanding balance on the loan does not earn interest.

When a loan against an annuity is never repaid, the owner will defeat the purpose of the annuity. Any funds that are not returned to annuity will no longer contribute to tax deferred account growth. This reduces the resources needed to secure income at retirement age.

Unique annuity loans also prevent the owner from transferring or rolling past, annuity to another insurer without penalty. In general, the borrower must hold annuity with the current insurance company until the loan is repaid. Some insurance companies will allow for transfer. In this case, any outstanding balance on the loan is treated as a distribution and is taxed accordingly.

If annuity is part of the borrower’s company pension scheme, annuity loans have additional risks. Normally, if the borrower leaves or terminates the employer, the outstanding balance of the loan must be repaid immediately. If the employee is unable to repay the loan, the outstanding balance of the loan becomes a distribution. Income tax, and possibly penalty tax, will apply.