Known for being the epicenter of entertainment, The Angels It is one of the most economically important cities in the United States.
In addition, due to its wide variety of financial products, in this place you will find personal loans it is quite simple. We tell you where, the requirements you will need and about certain regulations that are applied in the state of California.
Article content
- Where to find personal loans in Los Angeles
- Requirements to get personal loans in Los Angeles
- Loan interest rates in Los Angeles
- Things you can not do with a personal credit
- Brief overview of the city of Los Angeles
Where to find personal loans in Los Angeles
The lending culture is a natural consequence of what a market economy like the American one represents. This means that people from different social strata have access to the most common financing models in the country.
That is why it is not difficult to find venues, entities and online platforms that offer personal loans in Los Angeles. Whether you are looking for a bank, credit union or an online lender, financing alternatives will not be lacking.
- Bad Credit Loans
- Loan amount: between $ 500 and $ 10,000
- Term: between 3 and 36 months
Apply for
- Check Into Cash
- Loan amount: between $ 50 and $ 1,000
- Term: between 14 and 30 days
Apply for
- Cash Advance
- Loan amount: between $ 100 and $ 1,500
- Term: between 1 days and 6 months
Apply for
- LendChoice
- Loan amount: between $ 100 and $ 1,000
- Term: between 15 and 31 days
Apply for
- ExpressCash
- Loan amount: between $ 100 and $ 50,000
- Term: between 7 days and 6 months
Apply for
- Avant
- Loan amount: between $ 2,000 and $ 35,000
- Term: between 24 and 60 months
Apply for
- Check City
- Loan amount: between $ 100 and $ 2,500
- Term: between 7 and 62 days
Apply for
Among the most popular, you can choose between unsecured personal loans, fixed-rate loans, and co-signed loans. In La La Land, people often use this resource for vacations, medical procedures, large purchases or dealing with emergencies.
Requirements to get personal loans in Los Angeles
An important fact about California refers to a recent law to protect the interests of those who use personal loans.
For amounts below $ 5,000, the opening commission (origination fee) should be a maximum of $ 75 if you ask for more than $ 2,500, and the late fee of $ 10-15 depending on the days that you have not paid (one time for non-payment).
Regarding the requirements to apply for a personal loan, most are standardized across the country. You’ll need:
- Be of legal age, 21 years in Los Angeles.
- Have a bank account to receive the funds.
- Have a stable source of income: salary, pension, social assistance, etc.
- Have a valid and updated official identification: Driver’s license, military ID, passport, among others.
- Have a score regular-good credit: on average, 660 or more. There are also options for those with a lower score.
Loan interest rates in Los Angeles
As you may already know, the interest rates associated with personal loans are lower than using credit cards. However, this is not a premise that is always met because it will largely depend on the type of financing, the term and the lender.
While it is possible to get a 10% APR, this can go up to 300% with a quick loan.
Most of the personal loans available in Los Angeles have an interest rate that ranges from 5 to 28%. This is true when you visit a bank, savings or credit union agency. You can also get a very attractive APR on online platforms, ranging from 1 to 150% depending on the financing conditions.
Things you can not do with a personal credit
Although personal loans in Los Angeles and the rest of the country are used to address various issues, in California there are 3 basic restrictions:
- Bet. They do not allow you to use borrowed funds to play in a casino or other games of chance.
- Illegal activities. Nor is it possible to start the sale or business of illegal items, such as drugs, weapons, human trafficking, etc.
- Student enrollment. Usually these lenders do not finance student education because it is too risky. Unlike the student loans, personal loans have fewer protections, among which the non-discharge in case of bankruptcy stands out.
In Los Angeles you can get different financing options to meet your liquidity needs. That is why in the Blog Hispano de Negocios comparator we give you the best options in terms of financial products in this megacity. Do not hesitate to contact us.
Brief overview of the city of Los Angeles
With a name of Spanish origin, Los Angeles has become the most populous city in your state, California. It is a city located in the southern part of the basin and is surrounded by deserts, mountains and the Pacific Ocean.
After New York, it is the most populous metropolis in the United States, with just over 4 million inhabitants. Known as Tinseltown or The Big Orange, this megacity has been ranked 6th in the Global Cities Index and 9th in the Economic Power Index.
After Tokyo and New York, it produces a GDP that reaches a trillion dollars a year. This is due in large part to the diversity of its economy and the influence of the entertainment industry.
Los Angeles is a vibrant city that has built its well-being through international trade, technology, transportation, telecommunications, aerospace engineering, petroleum, fashion, tourism, and other industries.
The favorable conditions of this metropolis have allowed a sustained increase in family income, with an average of $ 58,000.
