Need To Borrow Money But Don't Have Time To Apply For A Credit Card? Get A Personal Loan


If you need to borrow a small amount of money and you don't have a credit card, or time to apply for one and get approved, try a small payday loan or personal loan. This is one option to get some cash loaned to you, and then you will pay it back at set dates after.

This can be very efficient way for you to get money, and to borrow and pay back similar to having a credit card. If you are worried about taking out a loan or if you have never done so before, here are some things that you will want to know.

Know What You Need

Just because your credit or finances may allow you to borrow hundreds or thousands of dollars, doesn't mean that you need to max out what you can borrow. Take out exactly what you need so it's easier for you to pay back, and so you aren't borrowing money that you will you spend needlessly.

Calculate the exact amount and go from there. With a small loan you can establish credit and build your FICO score if you pay back on time.

Find a Lender with Terms You Can Afford

Not all lenders will have the same interest rates and payment plans. If you only get paid monthly or bi-weekly, it may affect when you will be able to pay back the loan. Look at the options in relation to the dates when you know you will get a pay check, so you aren't setting yourself up for failure. Compare the interest rates to get the best rate, and to help make paying back the money less costly.

Start Looking for Extra Money

It can be beneficial to start figuring out ways to make extra money before the payments are due. This could be anything from selling old items that you no longer have use for, or picking up hours at work. Having a cushion and extra money that you know you can apply to the payments will give you a sense of relief. Even just taking in all of your change an then applying it to the loan and amount due can help make the payments more affordable.

Don't Miss a Payment

You don't want to miss a payment with any type of loan, especially a small personal loan, since this will harm your credit, you will suffer from late fees. If the loan goes unpaid you will have long term problems.

Make sure that you set the payment dates on your pay days, even if those aren't the days the payments are due. You can call over the phone on the day that you get paid and apply the payment, to ensure the money is applied on time.

Don't be afraid of small personal loans or even payday loans, they are an easy way for people to get some money between paydays or for a set amount of time, without having to apply for a credit card. The sooner you pay back the money, the better, so borrow wisely and pay back quickly.


21 January 2019

Know Your Options when Financing a New Business

When I began my first business selling sports equipment locally, I knew the sports-world well, and I knew how to run a business. One thing I did not know a lot about was the financial world. I had never applied for a loan in my life other than when I financed my car with the dealership in-house financing. My first application at a large bank was denied. I began looking into my other options, and I found that there were more lenders for new businesses than I realized. I applied at local credit unions, local banks, and other business lending services. I was able to secure more funding than I even expected, and my credit is just average. I created this blog to help other new business owners realize that there is funding out there. You just have to find it and apply! Don't give up on your dream.