Lauren McKinley

The Secured Overnight Financing Rate, commonly referred to as “SOFR,” is a benchmark rate index published by the Federal Reserve Bank of New York. It is used by financial institutions to price various lending products—such as loans, derivatives, and bonds—and reflects the average cost of borrowing funds overnight when secured by US Treasury securities. It…

A promissory note is a legal document that illustrates a written promise between two parties—typically a borrower (the note’s “payee”) and a lender (the note’s “issuer” or “maker”)—that states the terms and conditions of a financing agreement. It defines elements such as the principal loan amount, interest rate, maturity date, repayment schedule, collateral requirements, and…

A jumbo loan, also commonly referred to as a jumbo mortgage, is a type of financing that is suitable for real estate purchases that exceed the maximum conventional loan amount designated by the Federal Housing Finance Agency (FHFA). These loans commonly have stricter qualification requirements but have comparable interest rates when compared with standard mortgage…

If you are looking to start investing with limited funds, you might have more options than you think. The best fit depends on your comfort with risk and how hands-on you want to be. From savings accounts and retirement plans to fractional shares, ETFs, and crowdfunding, there are various low-cost ways to build momentum at…

Clarify Capital is a loan broker that offers small business financing solutions for a wide variety of borrowers. With loan options such as term loans, lines of credit, and equipment financing, business owners needing financing can be presented with multiple loan options with a single application. In this review, I will go over Clarify Capital’s…

If you want to become a business owner and are looking for the right opportunity, purchasing a FedEx route may be an option. Owning and operating a FedEx route enables thousands of independent business owners to keep the FedEx machine running smoothly. These entrepreneurs hire and train delivery personnel, purchase and maintain vehicles and other…

While being a mom is a full-time job within itself, there are business opportunities for stay-at-home moms looking to start a business that provides flexibility, can be done out of their own homes, and can be fairly lucrative—such as becoming a freelancer or influencer. Some options can be started with minimal costs and resources and…

The main differences between fixed rates and variable rates are how the rate fluctuates and how it alters your repayment amount and overall cost of lending. Various types of loans can have either a fixed or variable rate, and depending on your business needs, either rate option may be applicable. By understanding how both rate…

Financing an apartment building can be done in several ways. Apartment loans are a type of multi-family financing that assists with the purchase or refinancing of an apartment building. These include loans that are government-backed, offered by a bank or other lending institution, or offered on a short-term basis. Each has varying terms of eligibility…

A basis point, which is also commonly known as “bps” or “bips,” is a unit of measurement that represents a percentage change of value or rates within various financing instruments. It is a term commonly used throughout the finance industry and can have varying impacts based on the financing type it’s associated with. How Basis…

When considering the best 403(b) providers, certain 501(c)(3) tax-exempt organizations and public schools will look for those with the widest array of cost-effective investment options, the best customer service, and additional services to help employers and participants. Here are our picks for the six best 403(b) companies: : Best overall for low-cost 403(b) plans : Best for…

The best business auto loans should offer competitive rates, have flexible loan terms, and limited restrictions on financing eligible vehicles. Qualification requirements should also be inclusive and flexible for a wide variety of business needs and allow startups, low-revenue businesses, or borrowers with bad credit the opportunity to be eligible for financing. Below are our…