Posted by : Timothy Brogan
A signature loan is a loan borrowers can obtain without collateral. These unsecured personal loans or payday loans are less risky in that a borrower doesn’t need to surrender property to obtain it.
If you need cash to make it until payday, filling out our online form can help get you the emergency funds needed to make it. You can get a signature loan in as little as one business day and in some cases it just takes a matter of hours.
Remember to read the loan documents carefully and double check that your personal information is correct. When signing for a signature loan, make sure to take a look at the Truth in Lending disclosures to understand the cost of credit. We assure that all of your information is protected by the most effective and widely used technology in online security.
How can a signature loan help?
A signature loan isn’t much different from other forms of credit. It requires caution, diligence and care. But unlike a credit card or a bank loan, signature loans offer the convenience of speed.
When an emergency arises and you don’t have any other credit or savings options to supplement an unexpected expense, these loans can come in handy.
Often, a signature loan is used to handle situations like:
- car repair in need of immediate attention
- medical expenses that are unavoidable
- home repairs that risk family members, pets and the home’s structural integrity
Not every case calls for this type of loan, so before you sign on the dotted line, make sure you are fully prepared for the responsibility.
What you need to know about a signature loan
A fast loan is nice when you’re in a financial time crunch, but it also makes things a little more complicated during repayment.
Unlike a credit card or long-term secured loan, these loans have to be repaid in full on their due date. Though it may sound easy to pay back a few hundred dollars by your next paycheck, it takes carefully planning and budgeting to pull it off.
Loans like these can come with high interest rates, difficult late fees and expensive extensions. Problems can be avoided, however, as long as borrowers stay focused on repayment and don’t spend a dollar unnecessarily.
Through careful budgeting, cautious loan usage and attention to the terms and conditions, borrowers can get cash quickly and be back on track in weeks.