Archives for September 2019

Have you ever been into a situation when you need some money but there is no one to help you out at that situation, and you cannot even go to the bank as you already have an ongoing loan? This is a very critical and stressful situation and you might be searching for a solution and paperless payday loans for blacklisted can be your best solution as it would get you almost instant cash without any such documentation.

This is best for those who need a nominal amount that banks often refuse to pay but taking a huge amount can be a loss. Moreover, not a single bank would consider giving you a loan if you have an ongoing loan so expecting help from home seems to be useless at this moment. Payday loans would prove to be best in this case as they provide with a loan even if you are already paying for an existing loan.

This payday loan is like an instant solution to your emergency cash crisis and there are so many companies that provide with such services. If you are wondering why to choose paperless payday loans for blacklisted then here are some reasons listed below by financeshed  that you need to check out:

Would get you cash almost instantly:

If you are stuck into an emergency and only money can save you but there is no one to help you out of the situation then you can rely on payday services as that would provide you with almost instant cash. Here you would have to go through the procedure and then wait for about 24hours and within that time the loan money would be transferred to your bank account so that you can use it.

It would not take your much time so the interest rate is quite high but it is worth paying that interest as it is hustle-free and very easy to get a loan. So if you have to pay the bill on an urgent basis and you have no money then this seems to be the only way out for you to get over the situation.

It has nothing to do with your ongoing loan:

If you are paying for a loan and you again want a small loan because the money crisis seems to be unpredictable then at that moment only payday service can help you out. Most of the time month ends become scary to us because we often face monetary problem at the end of the month and we end up seeking money help at the time.

If you have no one to help you out and if you have already been blacklisted from banks due to your current loan then you can consider pay payday loans as that would help you out. Most people recommend this service as it has nothing to do with the existing loans status of yours so you can take small loans no matter what.

This works faster than any bank service which makes it the best for sure and before checking out banks you might want to check out any payday service.

Would not bother if you left your job or not:

Most of the time it has been seen that loan departments would only get you a loan if you have a proper job and if you are someone who does tuitions or any freelancing job then they would not give you any loan. Thankfully the situation is not the same with payday loan services and no matter what you do but they would still provide you with the loan.

This service seems to be a great option for students who study out of their state far from home and people who are self-employed can also enjoy this service which is a great thing.

Would need the least documentation:

The best thing about this service is that it is very simple and would not need any such kind of documentation, however, you would have to get some documents clear to get started with the loan service at first. Once you would be able to register yourself with the service than taking a loan would be very easy for you.

It takes about 5 minutes to fill in the form provided by them and then you can claim for the loan and the loan would be directly transferred to your bank account within some time limit so that you can use it accordingly.

Would provide you money even if you want the least amount:

Sometimes we do not require a huge amount of money but banks would consider a minimum amount while giving loans to a person. If you need money just to pay certain bills then this is the best service to enjoy as it can give you a loan of a small amount such as 200 rupees which are a great thing for sure.

The interest amount would keep on decreasing as much you would use the service:

This service does have a high-interest rate as it provides with money instantly but if you would pay back their loan on time and keep on enjoying the service then your interest rate with such service would keep on decreasing. It is always better to keep on using it so that the interest rate could keep on decreasing.

These were some of the reasons for getting started with paperless payday loans for blacklisted when in need of money and to know more about such things you can browse through Financeshed.

The most common goal of all the manufacturing units is to increase the production and reduce the costs. Lean implementation enables the organizations focus on the continuous improvement by consistently reducing the waste at every stage in every possible manner that is accepted to workforce as an organizational culture. It is almost impossible to go for lean production system without having the robust plan for maintaining equipment’s as per the industry best standards.

Importance of Equipment Reliability for Lean- ERM Benefits:

The high level equipment reliability reduces maintenance costs, minimizes the costs associated with frequent downtime, and ensures that products are not made outside of defined specifications. Although everyone understands the importance of equipment reliability but the required and made changes in equipment reliability program are often ignored. Equipment reliability is not limited just to the concerns for equipment’s, fixtures, machines and tools but it involves the technical, operation, and management aspects also ranging from equipment’s’ specifications to a daily operation & maintenance program. Without having a sustainable equipment reliability program, any manufacturing unit can’t sustain the expected performance standards. The equipment reliability and maintenance (ERM) is integral part of Lean programming, and the top ten benefits of equipment reliability for Lean are:

• Plant reliability
• System safety
• Cost saving
• Quick availability of parts
• Prevents draining of financial resources
• Equipment reliability improves efficiencies
• Improves confidence of maintenance staff
• Improves retention of maintenance crew
• Reduces injury risk
• Surety for on the time delivery

Relation between Lean and Equipment Reliability:

‘Elimination of waste’ is at the core of Lean methodology. Lean is more about getting the right resources at right place at right time to make the right products in the best possible manner for the interest of customers and organization.

Lean builds quality and reliability reduces the maintenance issues because the Lean organization moves from reactive to proactive maintenance.Lean uses Kanban (pull-system) to build on-demand product and reliability brings in condition-based maintenance as the response to demand in the line of measured target values.Reliability supports Lean process through a strategic lifecycle asset management that improves ‘Overall Equipment Effectiveness (OEE)’. Lean and equipment reliability share the numbers of core processes:

• Standardized work/processes
• Focus on autonomous/ operator maintenance
• Continuous improvement
• Waste reduction
• Data-based decision making

How to Improve Lean Equipment Reliability – Fifteen Tips:

If the equipment assets are not reliable, the availability suffers and we tend to use the equipment at slower speed resulting in reduced throughput. When the equipment’s are down to be repaired, you spend more on part and labor. Equipment reliability management unleashes the peak production potential of equipment assets. Is it easy to improve Lean equipment reliability? Following fifteen tips may help you great for improving equipment reliability for Lean production:

• Use the best OEE measureless, Overall Equipment Effectiveness, is calculated by multiplying three factors: Availability x Performance x Quality. Availability accounts the events halting the planned production to detect the reason. Performance accounts the causes responsible to run the equipment’s at lower than the maximum speed. Quality accounts the parts that don’t meet the quality standards and the parts that need to be replaced.
• Monitor the performance.Set and calibrate the performance metrics on the basis of hours, days and weeks in the line of workplace conditions.
• Develop a management process to assess the loss.Develop a system that could identify and record the data to represent a big picture of where the production time was lost through changeovers, stoppages and breakdowns. The commonly followed practices for Loss Management Business Process are:
• Capture loss event for volume estimation, loss categorization, and root cause analysis.
• Validate, quantify and classify the events to develop an action plan for evaluation of loss in terms of product volume impact, maintenance re-work operations cost and commercial loss.
• Investigate the loss event with focus on considering the valuable resources and time spent. It gives you fair idea about frequent failure of same equipment, repeated loss because of same reason, failure because of asset integrity issues like loss containment, high corrosion, ESD. Each loss greater than 5% of maximum production potential is recorded.
• Review to act promptly to feed the gathered information for planning the improvement program and strategies to reduce the loss.
• Analyze the maintenance plan to look at probable risk to the business and revise it as per new requirements.
• Check for the spares’ poor availability that impacts on production dramatically. Eliminate the waste of waiting by assuring the quick availability of spares.
• Root Cause Analysis (RCA) helps to counter down the loss and waste possibilities with new improvement measures. RCA technique helps to know the primary reason at specific origin for the problem. It delivers insights to: Determine what happened; Determine why it happened; Find out what to be done to reduce the likelihood of same problem in future; document the causes, actions taken and sharing to update other stakeholders.
• Repair the equipment’s that are not fit according to changed requirements or are not working properly; however, to accomplish this task, you will have to have the robust maintenance routine plan.
• Standard Operating Procedure (SOP), a set of written instructions, helps the operators carry out day to day routine operations with care. It is aimed to achieve maximum efficiency and quality output with uniform performance.
• Operator Asset Care (OAC) is a holistic approach to have the best possible machinery and equipment as the part of Continuous Improvement plan. You will have to develop the required skills and competencies of machinery and equipment users/ operators, so that, they could carry out the basic maintenance at their own. Responsibilities for the specific daily set ups and maintenance can be fixed.
• Infuse the culture of continuous improvement in Equipment Reliability program by harnessing the experience and regularly updated knowledge of operators and work floor managers.

Follow the following 5S principles:

• Sort (eliminate that is not needed in a work area)
• Set in Order (organize)
• Shine (clean and inspect the equipment/machinery and work place )
• Standardize (Fix the standards for performing)
• Sustain (ensure that everyone follows the standards)

Concluding Note:

Autonomous maintenance, focused improvement, early equipment management, training and education, safety followers everyone, healthy environment are the key pillars of Lean equipment reliability program. The involvement of an experienced Lean consultant hired from Lean consulting company drives your organization on the right track for achieving the maximum gains with available resources through strategic road-map structured just for your organization.

The term “Personal Loan Balance Transfer” is pretty much self- explanatory.  By availing this service or product, you will be able to transfer an outstanding personal loan from one lender to another.  This simply means that you have an opportunity to switch lenders anytime during the tenure of active personal loan, if at all need arises.

Irrespective of the type of the loan, it is possible to transfer your debt to another lender, provided the terms and conditions are advantageous. Personal loans being insecure loans that attract interest rates, you must carefully assess your requirements, costs involved and the benefits you are bound to enjoy before you choose the new lender.

You are likely to incur additional expenses when you opt for a personal loan balance transfer. You will be paying a significant sum of money to foreclose your personal loan with the active lender. You will also be paying a loan processing fee to the new lender who takes over your outstanding debt. The key is to determine if the switch is beneficial. Loan balance transfers are also known as refinancing as an existing loan is now funded again, by a different lender. That said; let’s take you some common benefits associated with personal loan balance transfer:

Lower Interest Rates

A personal loan balance transfer is preferred primarily because it makes a personal loan more affordable.  While the interest rates offered are quite competitive, you can still save some money if you opt for a balance transfer at a significantly lower interest rate than what you are paying at present.The interest rate difference must be at least 1% or more for the deal to be financially rewarding,as you will also have additional expenses in getting the debt transferred.

Getting a personal loan balance transfer at a lower rate also makes sense only when you time the switch right. It is a known fact that the equated monthly installments (EMI) that you pay during the first couple of years of the loan term go towards settling the interest payable on the debt and the EMIs at a later stage are adjusted against the principal amount.

Given the pre-requisite that you must have track record of paying EMIs regularly for at least for 12 months to even apply for a balance transfer, it is advisable that you consider switching lenders by the second or third year of a 5-year personal loan if at all you wish to save on the interest part of the loan.

Flexibility of Loan Term

The maximum tenure of a personal loan is 60 months (5 Years).  Depending on the loan amount, interest rate and your capacity to repay the loan you can decide on the loan term.  It is important to settle for a loan term that makes your EMI more affordable; you must pay the EMI without delays or defaults and also take care of other monthly expenses as well. Once you agree to a loan term, you will not be able to pay up the loan earlier or extend the term without penalties.

Personal loan balance transfer allows you to get your outstanding loan refinanced by a new lender, under different terms and conditions.  Your outstanding dues may be far less than original loan amount and if there is a significant spike in monthly income, you may fully settle the loan by opting for shorter loan tenure.

On the other hand, if you need more time to settle the debt, you are free to request for a longer tenure; with a lower interest rate and longer loan term, your monthly EMIs will decrease and allow you to address other expenses comfortably.

Again, there is always a risk of paying back far more (in interest) than the loan amount when you settle for longer loan tenure. It is important to work out the costs to actually benefit from this option.

Top-up / Additional Funding

You can avail additional funds when you opt for a personal loan balance transfer from one lender to another.  The new lender usually offers a top-up personal loan at discounted interest rates when you get your personal loan refinanced.  You now have a fresh loan from the new lender for a higher amount (outstanding personal loan + top-up funding) and a set of different repayment terms and conditions.

This feature is advantageous if the original personal loan is not adequate enough to fund your requirements.  We do know that personal loan products are capped.  The maximum amount of money you can borrow through a personal loan differs from one lender to another.

If you’ve taken a personal loan for a particular reason (home renovation, medical expenses etc.,) but still need more money to see things to completion, it makes sense to get your loan refinanced and avail top-up funding. Though a life-saver, remember that you are getting deeper into debt!

Other Benefits

• While key benefits of personal loan balance transfer are lower interest rates, affordable EMIs, additional funding and a new loan term, enhanced service quality and other benefits are welcome add-ons.
• Exorbitantly high penalties, poor customer service, limited payment modes and several other practical difficulties that crop up during the loan tenure can also be resolved by switching to a new lender; however you will need to carefully ascertain if your problems will be fully remedied.
• Usually waiving an occasional EMI, discounted processing fees, affordable charges and speedy services, are some perks one can expect when getting their personal loan refinanced.
• Opting for a personal loan, personal loan balance transfer, additional funding and other services from your bank is often more beneficial as you tend to be more comfortable with the environment.  Being a regular customer, your bank is likely to prioritize your requests and serve you better as well!
• As always, analyze the personal loan balance transfer deal and time the switch right to avail the maximum benefits but only if the offer suits your needs.