This is a short little presentation about your options when choosing a short term loan for your particular situation. Please join me in taking a short tutorial of what you can expect if you find yourself in an emergency situation.
2. • Things to Consider if you need a
short term loan
• Do you have bad credit
• Do you have a steady Job
• Do you make at least a Thousand
dollars a month
• Do you have a checking account
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4. Difference Between Secure
and Unsecure Loans
Secure Loans are loans that are held with
collateral. Collateral is something of value
that guarantees a loan in case you don’t
pay it back
An unsecure loan is simply a loan where no
collateral is needed because of your good
Credit History.
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5. • Pawn Loans are the simplest of secure
loans since what ever you pawn stands for
the loan that you are given. This type of
lending has been around for thousands of
years and it is not going anywhere no
matter what the politicians say.
• It is a very real way for consumers to put
extra cash in their pockets.
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6. Payday loans are a type of unsecure loans
and this means that they don’t need
collateral. But you do have to have a
steady job and income, be a citizen and be
at least 18 years old. The interest rates are
high and you have to pay it back in about
2 weeks or so, in that case use them
wisely. They are not for long term
problems.
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7. Car Title loans are a type of secure loan
where the value of your car or truck
stands for the loan that you are given. If
you don’t pay it back, then the lender can
take your car and sell it to cover the loan
that you did not pay back. It’s a raw deal
if you are not careful. The interest rates
can be 400% APR.
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8. Peer to peer lending is a new one on the
block so to speak. Yes people have been
borrowing money from each other forever,
but this type of lending is facilitated by a
third party. These facilitators are typically
online companies that unit borrowers with
lenders and everybody wins in the
situation, just as long as the borrower pays
it back.
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9. Individual lenders bid on interest rates for
the different borrowers. Interest rates can
be as low as 8 percent or as high as 30
percent depending on the credit
worthiness of the borrower. This type of
lending has opened a whole new world of
fresh capital to small business owners.
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10. • If you need a loan on a short term basis,
you must consider your options and do
your research. This type of borrowing
should only be used for emergencies of
minor financial significance.
• For more information visit
http://needaloantoday.com.