PERSONAL FINANCE BLOG

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Best Loans For Bad Credit
10 May 2018

The Best Loans For Bad Credit

Looking for good loans for bad credit? Wondering if they really even exist, and if so, how you can find them?

You may be tempted to give up or to settle for a loan you know isn’t the best, just to get your immediate financial situation solved. But there are better options, and we at Bonsai Finance can help you find them fast and apply with ease online – and instant approval is the norm!

What Are the Best Loans For Bad Credit?

When you need cash quickly, and you can’t afford to wait for an uncertain bank loan that could take weeks to process, what are your options?

If you have a car you own free and clear, you could take out a title loan, but that would risk what may be your only means of transportation to/from work (and everywhere else!)

Credit cards may work is some situations. But what if you don’t have one or have enough available credit on your card to take care of the problem?

There are two major options that are left where you can get the cash you need with minimal hassle and as fast as a single business day: personal loans and payday loans.

When Should I Get a Payday Loan?

You may feel adverse to the idea of driving downtown to a physical payday loan location, waiting in line, filling out paperwork, and waiting (perhaps) days to find out if you’re approved.

But not all payday loans are like that anymore. You can apply for a loan with many payday lenders online and get approved near instantaneously.

And by using the loan matching services of Bonsai Finance, you can quickly compare hundreds of different payday loan offers. Our powerful search engines make the task easy, not tedious, and almost everyone can find a loan that fits their needs and that they qualify for.

Payday loans are best when you only need $100 to $1,000 at most, and you will be able to repay in full in 2 to 4 weeks.

When Should I Get a Personal Loan?

A personal loan is a no collateral loan that is based simply on your ability to repay, rather than on credit scores. Credit rates can affect the APR you would have on the loan, however.

With a personal loan, you repay in monthly installments rather than in one lump sum (as in payday loans.) When you apply for the loan, your payment schedule will be worked out based on your income and ability to repay. Payments will be taken auto-pay from your designated account, and they will be kept affordable to ensure you don’t get hit with a late fee.

Bonsai Finance can assist you in comparing interest rates, fee levels, terms and conditions, and other important factors when you’re seeking an online personal loan.

Personal installment loans are best when you need from $1,000 to $5,000 fast to meet a financial emergency expenses, and when you need anywhere from a few months to a few years to repay the loan in full.

Both payday and personal loan lenders often accept applicants with bad credit or no credit. They are among the most common loans for bad credit when you need cash quick and you can’t afford to waste time applying for loans you might not get approved for. We at Bonsai Finance have helped match thousands of borrowers to their optimal lender and loan, and we can do the same for you!