There will always be times in life when you need to access cash, but there are some times in life when you may need to access that cash very quickly. You could find that you have to make an emergency repair to your home or replace a vehicle very quickly – these are emergencies where having quick access to a large sum of cash could prove extremely helpful. But there may also be opportunities that you have to act quickly on – such as an investment for your business or a down payment on a property.
Unfortunately, you may not always have the money you need just sitting in your bank account when you need. That is where quick loans come in. I have been providing my clients with quick loans for life’s emergencies and opportunities for many years. When you need a large sum of money and you need it quickly, this is an excellent solution.
A quick loan is exactly how it sounds. It is a loan that is able to be processed very quickly. It is a special type of unsecured loan that doesn’t require all the same documentation as other loans. To obtain these loans for my clients, I work with lenders who specialize in quick loans.
With a regular loan, it might take days or even weeks to get your approval. This is because for many other types of loans, lenders require credit checks and a lot of documentation. They may even come back to you with more questions after everything is submitted
But quick loans live up to their name. In fact, you can get your approval in a matter of minutes and to get your cash within 48 hours.
The obvious advantage of quick loans is that they are fast, but quick loans have many other benefits that you may not have considered. Among these benefits are:
Another benefit of getting a quick loan is that you may be able to qualify for this type of loan even when other lenders have turned you down. For example, if you have bad credit or if proving your income is difficult because you are self-employed, your lender may still be able to work with you to help you get a quick loan
As you might expect, the fact that this type of loan does not require collateral or a credit check makes this a riskier loan for the lender. For this reason, the interest rates on quick loans do tend to be a bit higher than on other types of loans.
That being said, when you are in an emergency situation or you have an opportunity that you can’t afford to let pass you by, the little extra that you pay in interest on a quick loan can be well worth it. And, if you can qualify for a more traditional loan, you can always get the quick loan to meet your immediate need and then when your traditional loan is processed, you can use that loan to pay off the quick loan.
And at Leverage Capital, I can help you with both types of loans and provide you with a lending plan that will work for your situation.
Now that you understand quick loans a little bit better, you may be wondering how you go about getting one. While quick loans are fairly easy to obtain, there are a few tips that you should know. Private lenders still look at credit history and your credit score. They will look at employment stability and debt to income ratio.
Yes! One of the nice things about quick loans is that you can qualify even if your credit has been damaged. But what you may not realize is that over time, it can actually help you improve your credit score.
As you pay off your quick loan, you develop a credit history that shows you are able to make your payments in full and on time. Gradually, if you are diligent in making you payments, your credit score will begin to improve.
If you would like more information about quick loans, or if you would like to see if this type of loan is right for you, I would be happy to help. Contact me at Leverage Capital today to get started!