Personal 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 have a good-sized savings or investment account you can draw on, if you can borrow from a family member or friend, or if you can simply reduce your spending for a time while you fight your way through a "financial tough spot," that's one thing But in many cases, you may need to secure financing. And you may not have the credit score nor the wait-time for a traditional bank loan. What are your options then?

Payday, Title, or Personal Loan?

When in a temporary financial difficulty and needing cash fast to get your through it, your three main options are typically: payday loans, title loans, and personal loans. Credit cards can also be an option, but oftentimes, those with bad or no credit rating can't get approved for a credit card, aren't given a sufficient credit limit, or would have to pay interest rates as high or higher than the other options. How do these three options, then, compare? Title loans are only available to those who own their car outright (a title with no lien on it), plus, they force you to risk your car as collateral. Payday loans often disallow you to borrow enough cash and then demand repayment in full after your very next paycheck. And payday loan interest rates and fees are usually higher than those of online personal loans. Personal loans, also called "installment loans," give you the most flexibility in terms and structured, affordable repayment plan. And you get more time to repay.

The Benefits of Personal Loans

Not all personal loans lenders forego a credit check, but many do. There are many benefits to opting for a personal loan over other loan-types, including the following:
  • Less than perfect credit will not keep you from getting approved for the loan.
  • You can take out the loan online from the comfort of your own home.
  • Rates/fees are lower than with most payday and title loans and many credit cards.
  • No collateral is needed to secure the loan.
  • You can borrow anywhere from a few hundred to a thousand dollars.
  • You can repay in only a few months across two or more years.
  • Income-based installment payments make personal loans affordable.
  • You get your cash fast, often same or next day.
  • Making payments is simple, normally done by automatic withdrawal from your checking account.
  • Making payments on-time helps build back your credit.
  • You can use the cash any way you want and the money is sent directly to your account.

How Do Personal Loans Work?

Personal loans are fast and simple to apply for. You simply fill out some very basic personal and financial information on a short to-the-point online form. Then, within moments, you will almost certainly be approved. If you already owe money to the same lender or another personal loan lender, or if you are currently in bankruptcy, you will not be approved. But almost everyone else qualifies, and there will be no credit-based denials. Once approved, you can expect the cash to make it to your account by the next (or sometimes even the same) business day. You can then use the money immediately. At Bonsai Finance, we will ensure that your monthly payments are never more than you can reasonably handle and take that into consideration when setting your loan terms.

Why Choose Bonsai Finance?

At Bonsai Finance, we provide personal loans no credit check needed to people with bad credit or no credit who often can't qualify for a traditional bank loan. Our rates are highly competitive, and our terms are as flexible as possible, so as to better serve our clients. We make it as fast and simple as possible for you to fill out our application forms, get approved, and get the borrowed cash into your account. We understand that many who take out small, short-term personal loans are in financial straits and do not have time for needless delay.