When the economy isn’t doing well, and unemployment rate is high, inevitably there will be people who need to borrow money. Some of you may be asking, ” I need 1500 dollars fast, who are the lenders who can give me a quick loan today?” If you need to borrow 1500 dollar, there are a few points to consider first before we look at the lenders as different types of loans serve different purposes.
If you are not intending to put a collateral up to get a legitimate loan, then I would assume that you are looking for unsecured personal loans which you can apply with no collateral. To get a non-secured cash advance, there are a few places for you to get one, mainly from your bank or other financial companies that provide short term loans for people with bad credit.
To know how to borrow 1500 dollars, the first place you should check is to ask your bank to see if they offer any low rate personal loans for you. It is likely for you to get a cash loan from the bank if you don’t have bad credit. Signature loans from banks can start from as little as 1000 dollars, to more than 20000 dollars. You are also able to enjoy lower rates if you need a 2 year long term installment loan. You can even get a 48 month personal loan for 50000 dollars provided you have an account in excellent standing with the bank.
The situation is not as bright if you have bad credit and need 1500 dollars fast. I cannot reiterate how important it is to build and maintain a high credit score because it is very hard for anyone with bad credit to qualify for a loan. Your credit score may even play a role in your ability to rent an apartment, or even get a job.
So what happens if you do have bad credit, and the banks are not playing ball with you? There is an option, albeit one that is going to cost you more if you want to borrow 1500 dollars with bad credit on a low income. Other than the banks, there are fringe, non-bank loan lenders who provide short term personal loans under 1000 dollars. You may or may not have heard of online overnight payday loans for people with low credit score. These are unsecured cash advances that are eligible for those who need 1000 dollars but have no credit history.
If you are not able to get an easy loan from the bank, you can look for an online lender for getting a thousand buck. There are lots of Internet cash advance companies to choose from so you are advised to do some due diligence first, and try to compare the different rates for Internet personal loans with easy approval.
Do remember that a payday advance does not comprise of monthly installments. It is a short term cash advance good till your next paycheck. You are suppose to pay it back in FULL upon payday and try to avoid rolling the debt over to another month.
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