Life can be full of landmines it seems when you’re trying to live paycheck to paycheck. Getting out of that situation can be done by increasing your income through side hustles, trying to sell unneeded items and trying to get a promotion at work.
But if one of life’s landmines go off in the meantime, you may need a personal loan to help you get through the trouble.
Your first thought is probably that it’s impossible to get a loan, because after all banks are mostly known to only loan money to those with great credit scores or high value assets.
And you probably don’t feel like having to visit all your local banks trying to find one that will approve a loan for you, especially if you have bad credit.
Besides, when a bad situation happens that can only be fixed by your having the cash from the loan in your hand, time is probably not something you have a lot of.
Fortunately, an installment loan online is another option that can get you the money you need much quicker than most bank loans, and it’s usually great when you need about $500-$1,000 to pay that bill you couldn’t otherwise afford to pay.
Here at Velocity Cash, we can help you decide if an installment loan would be in your best interest.
You can actually get one of our personal loans online and find out how much you could borrow with just the input of a little personal information.
What we will need to confirm is that you are at least 18 and a legal US citizen or permanent resident as required by law, and we also need to make sure you have both a verified source of income and checking account.
That means we will need you to follow instructions for sending us s copy of the following documents during the application process:
Before you even complete the main part of our online installment loan application, you can enter just a few details in our installment loan estimate form. Those include the following:
Once you complete the estimate form, you’ll be given an initial quote on what you can borrow.
But note that this is only a quote and the final amount you can be approved for and have deposited in your account will not be determined until after we’ve reviewed your application and gone over all applicable agreements.
It’s important that you provide information that’s as accurate and honest as possible.
Since installment loans aren’t tied to banks and only intended for short-term purposes, applying for and using them doesn’t come with all the restrictions and penalties that bank loans come with.
They’re also structured a little differently than other short-term loans, and though they are only meant to be used for an emergency that you can recoup your savings from quickly, they do offer more time to repay than most other loans.
Here’s a few ways they benefit users:
There’s a lot of lenders who offer alternative cash advance loans online, but not all of them follow the laws of the states where consumers reside.
At Velocity Cash, we make sure we comply with the few federal laws that govern our loans, and we obtain proper licensing from all state and local authorities when required.
As required, we disclose all fees and ensure our loan terms can be completely understood by you. But our staff are also highly trained in the personal loan services we offer and can answer your questions when you call.
When looking for alternative loans, you may have run across both installment and title loans.
Both have similar maximum amounts for borrowing, but title lenders usually only give you about one month to repay their loans while ours usually allow longer than that.
Plus title lenders can put a lien on your title that can put your vehicle at risk of repossession, while here at Velocity Cash we do not put any liens on your vehicle or home in exchange for issuing you your funds.
Usually consumers find installment loans easier to repay than title pawns. However, we do offer online title loans if you prefer to get that type of loan.