There are quite a few myths that revolve around debt consolidation loans. However, if your small business is struggling, debt consolidation loan is your only option to keep yourself afloat. It is also the only option that will not dampen your credit score. Debt consolidation is the hero without a cape that has saved countless number of companies from going down under.

According to the American Small Business Administration, almost 30% of the new small companies do not survive their first year in the market and almost 50% of them go under in their fifth year. The lack of funding and consolidation resources are majorly responsible for their untimely departure from the marketing world. In this cutthroat world of business, it is miraculous to get another chance with debt consolidation.

There are quite a few benefits you can enjoy when working with companies that offer actual debt consolidation meaning. This means you can’t only get your company on solid ground but you can also enjoy added benefits.

The list includes:

Reduced APR

With timely filed consolidation loans, you can reduce your annual payment rates and interest rates. If you happen to have a great credit history, you can file for lower interest rates with a longer payment term. You can enjoy APRs as low as 12% for repayment terms of 5 years or longer.

Lower monthly payments

This is something almost all businesses look forward to. You can coalesce all your monthly payments into one payment that has a lower interest rate. This automatically reduces the net amount you’ll be paying each month.

Additional borrowing

This is one benefit most new entrepreneurs would kill to enjoy.

When you are applying for your consolidation loan, you can apply for additional money to fund your future projects. Because of your lower interest rates, you are likely to get an increased DSCR for your business. This means, you do not have to take out short term debts again when starting a new project soon.

Simplify cash flow

There are three ways you can enjoy better cash flow.

1. You will have to pay just one creditor, instead of 3 or 4. It gives you the chance to use the loan amount to pay your credit card bills. You can just manage one account and the rest of the payments will take care of themselves.

2. You do not have to deal with defaulter’s notices anymore or penalties for missed payments. The consolidation loan company will take care of timely payments. In addition to that, you get to enjoy making one pre-scheduled payment to your loan company every month.

3. Longer debt and longer payment terms call for lower monthly payments. You can easily save more cash and cover regular expenses without cutting corners.

Say goodbye to creditors

You can resolve all your lines of credits at one go with one large sum. You’ll be able to give your business freedom to grow and expand into new dimensions. You will not have to attend to creditor calls and you can even pay off all your credit card bills with the sanctioned amount. Consolidation loan has the power to free up your revolving credit lines.

Payments are more anticipated

You can coalesce many short-term loans into one loan with smaller payment amounts. You can also consolidate loans with variable interest rates under one loan amount that you can pay for a longer time period with a much lower, fixed interest rate. As a result, you can chalk out a definite plan and budget for the coming year in your business.

See Also: 5 Ways Business Investment Loans Can Help Your Start-Up

When dealing with consolidation loans, you will have to know how to negotiate for the best deals and better benefits. You need to find the right companies that offer the right kind of loans that your business needs to thrive.

There are currently two types of business consolidation loans that are available:

1. Secured debt consolidation loans

These are loans that come with usually low interest rates and low monthly payments as well. Secured loans mean that you will be pledging some form of tangible property against the loan. In that case, the lending party has more security about repayment.

It is not uncommon for a lending party to take possession of deposit accounts, business assets, and business equipment in case of missed payments. However, secured loans are better in terms of comparatively longer payment terms and low rates.

2. Unsecured debt consolidation loans

Since these do not require you to pledge any tangible property, they usually demand a high personal credit score. You will experience higher interest rates and monthly payments when you opt for unsecured consolidation loans.

You can usually get these unsecured loans from private lenders and alternative sources. Even P2P lending can help you out with unsecured loans. However, it is a little harder to get as compared to secured loans since it demands a squeaky clean business credit and personal credit.

Small business debt consolidation loan is quite a wonderful way to keep your business thriving in days of dire distress. This will not eat away into your credit score and you will still be qualified for more loans. Many businesses go bankrupt simply because they cannot figure out the right time to apply for a business consolidation loan.

Business consolidation loan is not bad for business, provided that you choose the right consolidating companies for the loans. The right company should be able give you added services, including debt counselling and debt management. Getting out of debt will not be a monumental challenge if you have the right company to help you out.

See Also: 4 Ways to Start Building Great Credit

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Dreaming is considered as a different, unique, and very complex process of thoughts. Ever since the beginning of our time, people wondered what dreams are and why we experience them at night.

Some ancient civilizations even believed that dreams convey messages of wisdom from their gods. A few centuries later, Sigmund Freud came along and famously theorized that dreams are a “royal road to our unconscious”. Today, modern dream theories suggest that dreams are not as complex and important as people once believed.

To give you an idea, below are the 3 most popular theories that can help you interpret your dreams.

The Freudian Theory on Dreams

Sigmund Freud is the father of psychoanalysis whose accomplishments are being dismissed today by modern science at a fast pace. Despite this rejection, he is still popular for his theory on dreams.

While Freud lacked understanding and knowledge of the REM and the NREM sleep cycles, he believed that the meaning of each dream is wish-fulfillment. Freud began this argument by analyzing children’s dreams.

According to Freud, dreams serve a very important function in giving us clues of how our unconscious mind works. He believed that this was crucial for our waking life. Freud also believed that all dreams are of sexual or aggressive nature. Therefore, our brain does not allow us to experience such thoughts and emotions while awake and so represses them.

Since Freud provided so many theories, ideas, and thoughts on dreams, I need to sum all up as shortly as possible. He believed that dreams are a way of realizing our repressed desires. If you think that this theory can be true, you should get Freud’s book entitlled “The Interpretation of Dreams” to learn more.

The Jungian Theory on Dreams

Being a student of the famous Sigmund Freud has certainly helped Carl Gustav Jung to become a successful and reputable psychiatrist on his own. Like Freud, Jung also believed in the existence of the unconscious. However, he didn’t agree with his mentor that all dreams are of sexual nature.

Having different views and theories on dreams caused Jung and Freud to take separate ways. Jung presented four theories on dreams. His most popular idea is that most dreams have a compensatory function. They express those aspects of our personality we don’t adequately develop in our waking life.

Jung believed that dreams are a way of communicating with one’s own unconscious. Unlike Freud, he believed that dreams are not attempts to fulfill wishes from the waking mind. Instead, he considered them as windows to our unconscious mind. To achieve wholeness and solve a problem in the waking life, one must look for guidance in their dreams.

Modern Theory on Dreams

Over the last 50 years, modern science has been gathering evidence but found nothing to support any of the Freudian and Jungian dream theories.

It all started with John Allan Hobson, a famous American psychiatrist and dream researcher, who offered a believable, fact-supported theory (for a change). Hobson described the dreaming brain as a simulation machine that seeks to predict its waking environment. It functions depending on the REM sleep cycles. His basic idea is that our brains are genetically equipped with a neuronal system that generates a “virtual reality” of our waking lives during the REM stage.

Thanks to the many dream studies conducted by researchers from all around the world, now we know that dreams are not unpredictable. No training is required to decipher dreams, because they aren’t encrypted at all, as they were once believed. They also have no meaning.

Nevertheless, they can be useful to help us understand our own psychological state. The feelings we experience in a dream can be viewed as our brain’s attempt to convey information to its conscious self.

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