When an emergency arises and you need money fast, you think about personal loans because when you look at your savings you realize that they are not enough.
For these occasions, you know that you can count on lenders who offer you the money as fast as you need it. However, many of them, faced with your desperation for that urgency, take advantage of this situation with high-interest costs. For this reason, it is essential that you learn to protect yourself and take care of your finances by knowing how and where to get them.
Where to Find Personal Loans
When you need to get personal loans fast, not only do you need to know where to find them, but you also need to compare costs.
Well, all this is important but you don’t have time to make comparisons and searches, so that you can make a decision and make sure you are not signing an agreement that will harm you, read the following list, since the one you choose will condition not only the speed of approval but also the costs you will face.
Upstart is one of the options that you can consider because it uses the peer to peer lending system and besides it is a platform that offers an automated lending method. For this reason, their credit lines are rated best by consumers.
One of these reasons is based on the approval of loans that not only considers credit history and credit points but also includes work history and education, so when taking into account these factors, as a user you can access a loan from $3,000 to $35,000 for example for debt consolidation, refinancing your credit card, to allocate the loan to education or to open a business.
So if your credit score is 640, your source of income is demonstrable you can choose Upstart to apply for a loan in its online platform from 3 thousand to 35 thousand dollars with an APR that can be 4.7%, because it has a low-interest rate and also your loan can be approved very quickly, because depending on your case you can receive the money the day after the approval that usually takes no more than a few minutes.
Sofi is also a good option because as Upstart has interest rates from 4.7% to a maximum of 9.9%, which are considered lenders with the lowest rates in the market to access a personal loan and even to refinance loans for students with a rate of 2.12%.
As a third option, consider Citizen Bank if you need a loan of $5,000 to $50,000, because it offers you a flexible and quick approval line of credit, with a 3 to 7-year loan repayment and a fixed or variable interest rate.
This means that you can receive a quick response to your loan application and also keep in mind that all the documents you will be asked to sign can be signed electronically, as it accepts e-signed documents.
When you apply for your loan, you can choose the term type and interest rate to customize your monthly payment, suitable for you and you will submit your social security number, contact information such as your email address, phone number, mailing address, current income, and employment information.
You will be eligible for the loan if you have a significant credit history and annual income of at least $24,000, you will also be required to be a U. S. citizen or at least a permanent resident of the U. S. or Puerto Rico and if you have reached the age of majority in your home state.
Lending Club, is different from the previous options but similar to many organizations of the North American financial sector. It was created from Facebook by bringing together various entities that connect people who are looking for a loan and grant them.
Lending Club’s proposal is based on checking your creditworthiness through the money you request and your income, after presenting this data, Lending Club, acts as an intermediary presenting the loans to the lenders according to the risk level selected by each lender.
Keep in mind that you can apply from $2,000 to $25,000, but you should consider that in order to make it attractive for lenders, despite the speed of the loan and the possibility of repaying it at 36 months without additional cost, the interest is high.
Earnest is also an option for you to consider because of its low-interest rate on a personal loan and for refinancing student loans.
Earnest will check your creditworthiness through the collection of data such as the investments you have made, your career path, your savings capacity and from that will offer you an appropriate rate.
You can apply for the loan online and then manage payment preferences in your control panel and a mobile phone application.
In general, in order to be eligible you must meet some of the requirements such as for example:
Being employed or at least having a full-time job offer will also be eligible if you have enough savings to cover one month or more….
If you spend less than you earn if you have a good balance in your bank account if you don’t have mortgage debt if you have a timely payment history, and if you don’t have a recent bankruptcy.
If you have any questions about your loan, you can contact us by e-mail or phone.
Obtaining Personal Loans with Bad Credit in the U. S.
You may need personal loans, but if you don’t have credit or have bad credit, you think it’s impossible to get a loan, but it’s not true because you can get one, for example:
Home equity line of credit:
While using equity on your property can put it at risk, if your income is reliable and you are disciplined in paying off a line of credit, it is an option that you can consider because of the low-interest rate regardless of your credit score.
Peer to peer loan:
Peer to peer loans consists of platforms through which you can apply for a loan directly from a group of people rather than from a financial institution.
A list of loan requirements and purpose is created, then investors review the list and choose those that meet their criteria. Two examples of these platforms are Prosper and Peerform, but at least you must present a credit score of 640.
It works in the same way as the previous option, online and free. Find online lenders who can offer you the money you need.
If no friend or family member is available to congratulate you on a loan, you can ask one of them to help you by co-signing a loan for you.
That Person will know your financial situation and your ability to pay the debt, this way you can receive the money you need, but if for some reason you do not pay the debt, it will be your co-signer who will take care of the entire payment and the payment history will be recorded in the credit report of your co-signer and yours, so you must be on time with the payments and never stop paying because you will harm your co-signer.