Online loans no credit check

When an unexpected financial need suddenly arises, it is not always easy to know where to turn to for help. One the face of it, the available options might seem virtually endless, but realistic and reasonable options are much more limited.

If you are facing unexpected emergency expenses or don't have the extra cash on hand to finance an important project or purchase, you may be exploring your financing options.

It may be that your credit score (like a full third of all US credit scores) is below "fair," the credit-rating term for "average." Yet, at the same time, you may have sufficient income to repay a short-term loan should you get approved.

If the above scenario is at all similar to your current situation, online loans no credit check needed are likely the quickest, simplest way you can get the cash you need.

How Are Online Loans no credit check Possible?

Many with less than perfect credit would like to take out a personal loan to meet their needs but are hesitant because they wonder, "How are online loans no credit check even possible?"

The first thing to understand is that, unlike traditional bank loan lenders, lenders of online personal installment loans are concerned with only one factor — your ability to repay.

Since loan approvals are not based on credit scores, running a credit check would be superfluous. It would also slow down the process and potentially lose clients for the lender.

Finally, note that there are certain requirements (though not credit history related) you must meet. These include:

  • Must be 18 or older.
  • Must have an active US bank account.
  • Proof of regular, monthly income.
  • Size of payments is limited by your ability to repay.
  • Cannot have outstanding personal loans.

Most people, however, easily meet these rather minimal requirements.

7 Benefits of Online Loans No Credit Check

Why should you choose a no-credit-check online loan over other possible financing options?

There are many answers to that question, but here, we will explore just the main benefits of online personal loans:

  1. Easy Accessibility: You can apply for online loans from the comfort of your own home, not time and gas on needless travel.
  2. Likely Approval: Having to apply for multiple loans and getting disapproved on several of them can further hurt your credit score, but even those with bad credit are normally approved for online personal loans.
  3. Simple forms: With no-credit-check personal loans, the application forms are kept simple and straightforward, only asking for essential information.
  4. Quick processing: It takes only minutes to apply for a no credit check online loan, and approval is typically instantaneous. The cash is usually deposited into your bank account on the same or next business day.
  5. Greater flexibility: You can borrow more and get more time to repay with personal loans than is possible with most payday lenders. You can borrow anywhere from a $100 to $1,000 and repay across a few months or up to 4 years.
  6. Better rates: Online personal loans for bad credit tend to have lower rates/fees than payday loans, title loans, and even many credit card companies.
  7. Help your credit score: By taking out an online personal loan and making your installment payments consistently on time, you can rebuild a damaged credit score.

Our Commitment at Bonsai Finance

At Bonsai Finance, we are committed to providing fast, affordable online personal loans to our clients at highly competitive rates.

We do not base our loan approvals on your credit history nor do we run a credit check, for three reasons:

  • There is no need for a credit check.
  • A credit check would needlessly slow down the process.
  • Running a credit check could negatively impact your credit score.

We do not penalize you for early repayment, like some other lenders do.

We work with you to help you make on-time payments and repay your loan.

We personalize your loan, in terms of amount, conditions, and the size of your monthly installments. We never allow your installments to be beyond a reasonable percentage of your monthly income.

At Bonsai Finance, we seek to fill a void in the online short-term loans market — affordable, flexible, and fast financing. We put cash into your account quickly because we realize that many of our clients are in financial straits and cannot afford unnecessary delays.

We do not put artificial restrictions on how you can spend the cash you borrow from us. That is fully at your own discretion.

We put ourselves in our clients' shoes and do everything possible to make the experience of borrowing from us as simple and beneficial as possible. The requirements we have are designed to ensure you do not have trouble repaying your loan, but we seldom decline applications and deliver your borrowed cash without delay.