Quick Personal Loans

If you’re shopping for a house or even a car, you expect the loan process to take time. But if you’re faced with the prospect of having your utilities shut off, you don’t have time to go through that process. But many sources of quick loans are actually more like financial quicksand. Fortunately, LoanNow provides the money you need, when you need it – without the financial pitfalls you neither want nor need.

The Problem with Bank Loans 

Bank loans traditionally offer the lowest interest rates, especially for customers with good or excellent credit. Bank loans also structure their repayment periods in monthly installments which are designed to be manageable for borrowers. But banks typically impose strict requirements on potential borrowers. Applicants with low FICO scores must usually offer collateral or credit-worthy co-signers to qualify for bank loans. And quick loans are almost unheard of. Even creditworthy applicants must endure the sometimes lengthy waits associated with the lending process for bank loans.

Sources of Quick Loans

For borrowers who cannot qualify for bank loans or who cannot afford to wait for a bank to make a lending decision, options for quick loans range from potentially problematic to downright hazardous to financial health. Credit card cash advances carry higher APRs than purchase transactions and have no grace period. Pawn shops demand collateral in the form of personal possessions that often both sentimental and monetary value.  Relationships with friends and family may be strained by request for loans and especially if borrowers are unable or unwilling to repay the money they borrow.

Payday lenders represent an especially dangerous source of quick loans. Whether you borrow from a payday loan store or an online payday lender, you are quickly faced with the prospect of repayment in full, often within weeks of receiving your loan. If you’re like most borrowers, you are in no better financial position when a payday loan due date arrives than you were when you took the loan.  As a result, you’re drawn into a cycle of rollovers and partial payments that can endure for months, if not years.

Why LoanNow Is Better 

At LoanNow, we understand that you can’t always wait for a bank to approve your loan application. We offer loans with the convenience and speed of you need without the drawbacks associated with other quick loans. We don’t require collateral and we also say no to rollovers that can trap you in ongoing debt. Like friends and family, we look beyond your FICO score to evaluate your entire financial picture, without the risk of straining your relationships. From almost every angle, LoanNow is a better loan choice!