If you are an Indian national and have never borrowed money from a lender before, you might feel confused and intimidated by the prospect. The younger generations at least can easily begin to do this online, since they are more familiar with the virtual environment. The online opportunities are far more varied.

Why apply for loans online
First of all, it is extremely easy and fast. It only takes minutes to provide the lender the needed information and submit your application. Then, you need to wait to be approved, but with certain lenders that can be instant. The third and final stage is when the money is deposited straight into the borrower’s bank account. The entire process is automated, so the borrower does not have to meet any person in order to obtain the loan. Personal or business loans can be obtained on the Internet through the peer-to-peer lending system.

The kind of loans one can apply for
In India, it is possible to apply online for short or long term loans. The money obtained this way can be used for various purposes, such as marriage, education, car, land or home purchase and so on. Loans generally start at Rs. 10,000. Make sure to pay maximum attention when you agree on the repayments period – you must make sure you can make repayments as promised.

Eligibility criteria
To obtain a loan online without any hassle, just make sure you follow the guidelines. Also, you need to meet the eligibility criteria. Before applying, the individual needs to gather all the documents required. The PAN card will usually be necessary, as well as Aadhar card. The client must provide an address proof. The electricity bills required are not always a substitute for this proof of address. As soon as all the documents are gathered, the client should scan these and send the copies online in the provided form. Lenders require to see each client’s credit score before they decide whether to approve the loan or not. In addition, borrowers definitely need to have a valid bank account, so the money can be delivered. Nationality and residency are also important matters here. Applicants need to make proof of their Indian nationality.

How the Aadhar card helps
Having an Aadhar card can help you obtain a loan on fair terms. The purpose of the project involving it was to secure everyone’s social identity permanently. A card with a unique identification number holding biometric data can easily and accurately provide proof of identity and residency. It’s the perfect solution for today’s technological advancements that have also made quick online loans possible.

This construction bond is the title given to a kind of surety bond that has been made to come into use by investors in projects related to construction. This step has mostly been taken to provide a certain kind of protection against a very severe kind of event taking place that can cause a certain kind of hindrance or failure in the completion of the project, the reason behind it being the insolvency of the builders or the inefficiency of the job to meet ends with the specifications of the contract.

Usually you will notice the existence of three kinds of parties in a construction bond, namely they are the party that has a hand behind the building of the project, the eventual owners and then finally you have the surety company that has got the back of the bond.

As for the types, this kind of bond contains three types; let us have a look at the list:

• THE BID BONDS

In situations where as the expected honor and respect for the bid by the principal which in this case might be the contractor is not met, this bid bond comes into the picture where it provides protection to the owner of the project. The obligee held under the existence of this bond in this case is the owner and he absolutely has the rights to sue the surety and the principal if he wills to in order to establish the enforcement of the bond. In case the principal refuses to extend any kind of honor to the concerned bid, then he takes the responsibility of being liable for any kind of additional costs that might surface.

• THE PERFORMANCE BONDS

This performance bond is used to provide a kind of assurance or rather guarantee by the contractor or the principal. This guarantee talks about the completion of the contract in full accordance with its respective terms. IF under any circumstances, the principal is seen to be facing defaults, the owner holds the right of calling upon the surety to ensure that the contract meets its completion. In that case, the surety will have no other choice but to hand over the contract to a new designated contractor.

• THE PAYMENT BONDS

This is the kind you head to when you need all your payments to be guaranteed, the payments that have been lying under the due tag to subcontractors and some other from the mentioned principal. The subcontractors and the suppliers are the ones who qualify as the beneficiaries for the payment bond. This bond proves to be of a tremendous benefit to the owner especially, the reason being that it comes as a substitute to the mechanic’s liens as a non-payment remedy.

This article is aimed at explaining the importance of building residual income and also to explain the need for individuals to leverage network marketing business model if their dreams are to gain financial and time freedom. So, even if you presently work a job or business, it is needful that you pay attention to network marketing so as to develop residual or passive income over time.

The commonest way that people define residual income is “income earned while sleeping”. Is it really possible to earn income while, all the while, you are asleep? This may sound strange to some people but, yes, it is possible.

The importance of residual income in a man’s life finds expressions in the statement of the billionaire investor, Warren Buffet, in which he stated that “if you don’t find a way to make money while you sleep, you will work till you die”.

Residual income is a concept that many ignore without understanding that their future well-being is dependent on it. And with what result? With damaging consequences.

By going to work every workday and receiving a salary at the end of the month, you’re simply exchanging time with money. Your salary is not residual. If your work stops, your income stops automatically.

Let me explain residual income with the following example.

Imagine two men in a village. Both have to walk a mile every day to a river to get water for their families. After a month, one man starts working on building an underground pipeline to connect the river to his house. For an entire year, he expends extra energy working on his pipeline. When he finishes, he has the source of the water directly to his house, while the other person continues to visit the river.

Residual income is like building a pipeline to connect water from the source to your house so that you don’t always have to go to the river.

In that short example, you will notice that it took some time for the pipeline to be constructed. But having done that, the man continued to enjoy water supply effortlessly.

However, the second man who failed to take the same initiative had to continue to visit the river for his water supply. What will happen if he becomes indisposed? He and his family will stay without water and suffer its consequences.

There exist many business initiatives that you can leverage in your effort to build residual income. But I do recommend network marketing, or MLM as some would like to call it, due to the fact that it doesn’t requre a tonne of investment capital to set up.

A lot has been said about network marketing by various network marketing professionals but many still feign ignorance about it.

The reasons people WON’T take a look at network marketing is NOT:

• because they don’t have the money.

• because the opportunity or business isn’t good.

• because they are worried about being scammed.

• because the profit margins aren’t high enough.

• because the demand for the product isn’t wide enough.

• because they need to ask their spouses first.

• because they need a night to sleep on it.

• because they need more time to research the company.

• because they need to get on the phone with you to join.

• because they have to ask other people on Facebook to see if you’re a good sponsor.

• because they need to see your bank account to prove the results.

• because they don’t believe in it.

The real reason they don’t join network marketing business opportunity is that they have been conditioned by society to be consumers of goods and not producers.

.They have been conditioned to buy “education” but not to buy knowledge.

.They have been conditioned to have a “job” but not to own a “business”.

.They have been conditioned to be workers but not to be their own bosses.

.They are non-thinkers instead of go getters

.They are intimidated by anything that challenges them.

That is what this is really about. It’s about people who are so afraid of learning, and stepping out of their comfort zones and being paralyzed by their fears.

It’s about being comfortable and caring what other people might think. It’s about their family thinking they are FAILURES if they do anything besides just having a JOB.

If you’re working presently, understand that you are only exchanging your time and effort for the pay cheque you receive at the end of the month. That’s okay though but by going to work every day, you are not building residual income which is the pipeline that will enable you to get water supply without having to go to the river.