When looking to take out a large, long-term loan to purchase a house or another major investment, you can probably afford to wait for weeks on end to get an approval. But when you are in need of cash fast for a relatively small, short-term loan, you don't have time to waste. Quick loans no credit check needed fill a important space in the lending market and meet a basic need of many with below-average credit scores but who are willing and able to repay their loans on time.
Quick loans no credit check
What Kind of Loans Are Quick Loans no credit check?When you are faced with an emergency financial situation, need to quickly finance an important home improvement project, need to acquire transportation for college, or a host of other scenarios, you typically have several options. If you own a car free and clear (no liens on the title), you could take out a title loan, but that would risk your vehicle. And some title loan lenders don't even let your drive your car while using it as collateral for the loan. You could take out a payday loan. But these loans have the highest interest and fees of virtually any loan-type. And you will have little flexibility since you must repay in full by your next paycheck (2 or 4 weeks, normally). An online personal loan, such as we offer at Bonsai Finance, is the ideal way to secure a quick loan no credit check. A personal loan has many advantages, including these:
- No collateral is needed to secure the loan.
- You get a longer period of time to repay, ranging from a few months to a couple years.
- You repay in regular monthly installments that are sized to make them affordable based on your income.
- You have more flexibility in loan amount. At Bonsai, we allow loans ranging from $100 to $5,000.
- Terms are more flexible as well with short-term personal loans.
- By making your installment payments on time, you can improve your credit rating.