Industry News, Resources, and Useful Tips

Cash Advance Definition and Purpose If you need money quickly, you might be wondering, “What is a cash advance?” A simple cash advance definition is the process of borrowing money against your credit card line. People often begin learning about the meaning of cash advances when they face unexpected emergencies, such as medical bills or…

Understanding How to Figure Out Monthly Payments on a Loan Knowing how to calculate monthly payments on a loan is among the smartest financial moves you can make before borrowing money. By calculating payments, you can effectively plan your budget, avoid costly surprises, and manage your debt responsibly. Calculating monthly payments for a loan involves…

How Long Does a Loan Take to Process? When you need to borrow money, chances are you need it fast. Speed matters when you are looking for a loan. However, if you’re not careful, sometimes speed comes with a catch and lands you in a worse financial position than where you started. Yet, being prepared…

Understanding the Various Loans Available to You Nearly everyone needs to take out a loan at some point in their life and assume debt to live comfortably or invest for the future. Yet, there are many different types of loans to choose from based on your financial needs. Additionally, other loan types are associated with…

What Is a Credit Report and How to Interpret It Your credit report is a significant financial document and a detailed record of your financial history. It includes information about your credit cards, loans, outstanding debts, and payment habits.  Beyond understanding your credit report, it’s important to know how to read a credit report so…

Economical Vacation Spots That Won’t Break Your Budget Many people dream of traveling the world, or at least getting a break from their daily routines to relax or explore new places. However, vacations cost a substantial amount of money and can feel prohibitive if you’re on a tight budget. Fortunately, planning a getaway doesn’t have…

Get The New Tower Loan App Today! In today’s modern digital world, money borrowing apps help people access the funds they need more quickly and efficiently than ever before. Tower Loan is pleased to announce the launch of our new app, available for download via the iPhone App Store and Google Play. Here’s an overview…

How Do I Get Out of Debt? Did you know that the average American owes $105,056 in debt? If you have mortgage, auto, student, personal, and other loans, as well as credit card debt, you’re certainly not alone. Managing debt effectively and eliminating debt are among the most common goals people have in our world…

How Is Loan Interest Calculated? Loan interest is the cost of borrowing money and is typically expressed as a percentage of the loan amount. This percentage represents your interest rate, which is the amount a lender charges you to use their money over a specified period of time. Borrowers must understand how to figure interest…

What Drivers Need to Know About Auto Repair Financing For many people, having a reliable vehicle is essential to success at a job, transporting kids to school, and living independently every day. However, if your car breaks down or is involved in an accident, unexpected car repairs can really stretch your budget. This Tower Loan…