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Which Quick and Easy Loan Works Best for You?

Tom Hartford, Senior Editor

August 19th, 2020

Affected by COVID-19? We've pulled together a few resources to help during this unprecedented situation. Learn more about how to handle COVID-19 here.

Securing a traditional personal loan isn’t always easy. Some people don’t have enough credit to qualify for a traditional loan. Or, some folks don’t have enough income for big bank approval. In fact, there are a number of reasons why getting a personal loan from a big bank could be tricky.

And yet, everyone incurs unexpected expenses. It doesn’t matter who you are, there are always events in life that happen at a moment’s notice. And when life happens, where will you go to find a quick and easy loan to cover your costs?

That’s where Check Into Cash can help. We aid all sorts of people from all walks of life with a quick and easy loan, no matter their situation or status.

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Why Would You Need a Quick and Easy Loan?

Did you know over 12 million Americans use Payday Loans each year as easy and convenient financial solutions? You are not alone.

Also, according to FederalReserve.gov, 22% of U.S. adults are unbanked or underbanked. This means they do not have formal bank accounts or still take advantage of alternative financial services. So, this group might use short-term loans, in this case, as their go-to for alternative financial services.

Another reason someone may seek a quick and easy loan involves their need for flexible payment options and instant cash. These benefits aren’t always available through traditional banking routes.

 

Let’s Explore Our Quick and Easy Loan Options

With millions of people under-qualifying for traditional lending and big bank loans, it’s a good idea to know what other quick and easy loan options are available in your area.

 

Payday Loans: A Popular Short-Term Solution

One of the most popular non-traditional short-term loans is the Payday Loan. Generally, a Payday Loan (otherwise called a Payday Advance in some states) is a small amount of money typically repaid within a single pay period. So, borrowers take only what they need to span the short financial gap until their next payday rolls around.

 

How Can I Spend My Payday Loan?

Payday Loans are mostly used for small, unexpected expenses.

Imagine you’ve over-drafted your bank account. You may be able to avoid Non-Sufficient Funds (NSF) fees by reconciling your balance within the same day. In this case, you could simply visit a Check Into Cash store near you, walk away with cash once approved, and make a same-day deposit to fix your negative balance. Phew! Crisis averted.

If your utility bill is due ASAP, you may find yourself needing cash very quickly. If you just need a bit to hold you over, a Payday Loan may be the best option for you when you’re in a pinch.

 

More Money with an Installment Loan

If you need a little more money, along with a more flexible payback schedule, consider an Installment Loan. With an Installment Loan, you can borrow up to $5,000 (depending on your area) and pay it back over a longer time period.

If you’ve experienced an emergency medical bill, you may benefit from an Installment Loan. These loans offer a few hundred to a few thousand dollars, which may help with an unexpected medical expense, for example.

Need a fast auto fix? Car repairs and expenses could require a couple hundred to a few thousand dollars to fix. And you’ll want to see about them sooner rather than later. This means an Installment Loan may be the best quick and easy loan for you.

 

What About a Title Loan?

Do you own your car? If you have a clear title, you may be eligible for a secured Title Loan, depending on your area. Using your car title as collateral, a Title Loan can let you borrow up to $25,000.

If you need emergency home repairs, a Title Loan may work best for you. Since your loan is secured with your vehicle’s title, you may receive more money at once. This could help pay for larger repairs like HVAC or plumbing issues.

Perhaps you need a new big-ticket appliance. Maybe it’s a new refrigerator or your washing machine kicked the bucket. A Title Loan may offer enough funds to help you replace broken appliances and get your house back in working order.

 

Some Parting Advice for Borrowers

No matter which loan type you decide on, it’s important to never borrow more than you need. Also, try to budget your payments so that the loan is repaid on time. This will help to keep you in good standing and help to create a bright future ahead.

Check Out Our Loan Options

Hopefully you’ve learned a bit about quick and easy loan options from Check Into Cash. Want to know more? Simply follow the link below to discover more about our loans.

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