MonthMay 2019

What you should know about quick loan

In recent years there has been an increase in quick loans, due to the urgent money needs that we all have at some time. An unexpected payment, a broken appliance or the children’s school books, which represent an extra cost. In many occasions, our expenses grow, but, unfortunately, our income remains the same, which makes it impossible to squeeze more to cover those unexpected or urgent needs that we would easily solve with a quick loan.

Tips for requesting a quick loan

Tips for requesting a quick credit

This type of loan is a real relief for many people, who, faced with a specific situation of urgency, can face a payment or expense in a simple, fast and safe way. In addition, we can get these loans without having to wait long to receive the timely concession of our bank branch. And all this with many more facilities than a loan to use, since they do not require any type of endorsement or bureaucratic procedure that prolongs and hinders the process.

The way to get your loan is very simple: you only have to make a phone call or fill out a form through the Internet and, within a period of less than 48 hours, you will have your money for what you need. And, with a quick loan, you’ll get a response in less time than in a conventional branch and, above, saving unnecessary travel and a lot of time management.

In addition, if you are worried about monthly installments, you should know that these are, in general, lower than those of other types of loans and, therefore, much more affordable and easier to deal with than those established by traditional financial institutions.

Requirements to apply for a quick loan

Requirements to apply for a quick credit

In general, the requirements that you must meet are to be of legal age, fill in a form and indicate the amount of money you are going to request and, in a very short time, you will comfortably receive the desired amount in your account number.

It is true that, before applying for a quick loan, you must assess some aspects, such as what really covers an unexpected or an emergency (a breakdown in the car, visit to the dentist or mortgage …) and not a simple passing whim, which can lead to an irresponsible way of life. In addition, you must study your situation and the return periods (in order to adapt to them) and read in detail the conditions of the contract and the obligations of each of the parties.

In short, if you need money for an emergency or an unexpected, fast loans are great options to get it quickly, easily and comfortably. You will only need to pick up the phone or fill out a form without rushing, waiting or traveling. Yes, be well informed of your conditions and look for the safest loan.

Can I get a commercial loan with bad credit?

If your credit is bad, it is not the end of the world either because the lenders also pay attention to other elements to make their decision. Lenders are very focused on the profile of your business, say the amount of time your business has, your annual income and your cash flow. Your business profile says how successful your business is and if it presents a risk to the lender.

The time your business has is important because a new business presents a very large risk. Another thing is the income and annual profits of your business; If your income is at least $ 100K, you have options even if you have bad credit. Also a healthy flow of funds proves that your business has the ability to repay the loan.

The best option for a bad credit situation is an online loan.

The best option for a bad credit situation is an online loan.

Companies that lend online usually have more flexible criteria because the vast majority are not guaranteed by the government. The terms and conditions are established by the same companies without having to conform to the regulations and requirements of traditional banks.

It is also likely that you need a guarantor of great value such as cash, property, machinery, etc., to guarantee that in case you can not repay the loan you can compensate it with that possession.

Another option is to take a cash advance from the merchant. As it is not a loan in reality, the borrower does not base his decision on your credit score, but the ability of your business to repay the loan using the sales you make through credit and debit cards. However, it should be noted that cash advances are the most expensive financial option because it is fast money.

Another option is to use credit cards, which, although they come with much more expensive interests, are easier to obtain.

Having bad credit comes with a cost, for example, it is likely that you not only have higher interest, but also other rates, or that you have to accept a shorter return period. This means that you can end up paying a lot more money than any other business with better credit. In short, your best option may be to work strategically to fix your credit and expect it to improve before taking a loan that can hurt you more. Finally, if you have capital needs and can not wait to improve your credit, we can also advise you to search the best possible option within your situation, you can start your process here. At the same time, you can start our rehabilitation program at no cost, contact us and a growth agent AJ Raffles will contact you.