We often find ourselves in need of emergency cash. When the car breaks down or the kids get sick, we sometimes need some fast cash. If you find yourself in this situation, you may find trouble getting a loan from a bank, especially if you have imperfect credit. For that matter, bad credit will likely disqualify you from most types of loans available through a bank.
If you need to secure some cash fast, the bank may not be the best option. Bank paperwork is often quite extreme, delaying the loan process for up to a week. Organizing pay stubs, credit reports, and references can often really delay the process. This delay can make you miss important financial deadlines.
If the bank can’t take care of you within the time frame you need, take a look at online personal loans. These online lenders can usually deposit $1500 or less in your bank account within a matter of hours. Since this type of loan is executed very quickly, it might save you from deadlines when other loan types cannot.
If you find yourself in need of money within 24 hours, it will limit the amount of lenders that are available to you. However, it’s still very possible to get a loan within that time frame, although you will have to do a lot of homework to find someone that can process everything on that time frame.
When you try to apply for this type of loan, the lender will only require a few steps. You will normally need to show that you have employment so that the lender know that you can pay back the loan. Additionally, many lenders require that you have a checking account.
Most personal loan providers don’t check your credit before providing this type of loan. This means that you will probably be able to secure this type of a loan, even if your credit is terrible. As long as you can show that you can repay the loan, you should be able to secure it.
The interest rate that you’ll be able to get with type of loan will be determined by several factors. These factors include the amount of time it takes you to repay the loan and the amount of money you require when you take it out.
Author: Dave DavisThis author has published 8 articles so far.