Affordable Loans From LoanNow – Helping Good People Get Better Loans
If you have less than perfect credit, finding affordable loans can be an exercise in frustration. Many banks offer affordable loans – but are wary of extending credit to borrowers who don’t have good or excellent credit. Creditors willing to provide loans to borrowers with less than perfect credit impose repayment terms that are less than desirable. With LoanNow, even if your credit isn’t perfect, you may be approved for a loan, with repayment terms you can live with!
For many borrowers, bank loans are among the most affordable loans. They offer the lowest interest rates, along with favorable repayment terms. However, banks often demand good or excellent credit to qualify for their most affordable loans. Borrowers with marginal credit are often turned down, or required to provide creditworthy co-signers or collateral. Banks also frequently require borrowers to wait days or weeks for a response, which won’t work when you’re dealing with financial emergencies.
Online nonbank lenders such as online lending brokers and peer-to-peer lenders represent a fairly recent source for affordable loans. But both online lending brokers and peer-to-peer lenders require borrowers to submit sensitive personal and financial information to third parties, with no guarantees of actually receiving a loan. In fact, peer-to-peer lenders require prospective borrowers to post profiles on semi-public online forums! In addition, peer-to-peer lenders automatically disqualify prospective borrowers with FICO scores below the mid-600 range.
Lenders to Avoid
Desperate borrowers with poor credit frequently turn to subprime lenders such as pawn shops and payday lenders. But what these lenders provide can hardly be described as affordable loans. Pawn shops require borrowers to surrender personal property on the spot as collateral. Their loans cover only about 25 percent of the property being held. Payday loans feature the triple threat of high interest, required lump-sum repayments and unrealistically short repayment periods that make it impossible for many borrowers to repay their loans on time, triggering a trap of rollovers and partial payments.
With LoanNow, you’ll receive a response in minutes, not weeks. † We approve many borrowers banks turn down – and we never demand collateral. As a direct lender, LoanNow handles all loans in-house – we don’t share your info with third parties. Check out the LoanNow difference for yourself!