Emergency Installment Loans – Get Cash Quickly!
When you’re facing a financial emergency installment loans might not be your first priority. You’re just looking to get money fast. If you’re desperate enough you may resort to taking a payday loan or going to a pawn shop. But LoanNow can provide the money you need when you need it, without resorting to extreme measures that can place your possessions at risk or possibly cause long-term damage to your finances.
How Installment Loans Work:
Installment loans from a bank or mortgage lender are scheduled once per month. Each payment is applied to both the principal and the interest on the loan, with earlier payments going more for interest. As you continue to make payments, more and more of each installment goes toward the principal. If you make larger payments than the minimum, you can usually designate the excess to go toward the principal, which helps you pay off your loan faster.
But banks are usually not a viable source for provide emergency installment loans. The application process for a typical bank loan takes weeks. If your credit is marginal, you may be turned down outright unless you’re willing to put up collateral to guarantee the loan or have a credit-worthy co-signer.
Payday emergency installment loans may appear to be better than regular payday loans on the surface. The processing is usually fast, just like typical payday loans. Plus it’s easy to qualify if you have a regular job or receive government payments or a pension. And the repayment terms include multiple payments, not just one lump sum. But don’t be fooled. The payments for payday installment loans are spaced only one or two weeks apart, not every month like installment loans from a bank or mortgage lender. And many payday loans carry big early repayment penalties, which can wipe out any savings that you might otherwise obtain by making larger payments or paying your loan off early.
How LoanNow Is Different:
LoanNow is a better option for emergency installment loans. We recognize that urgent financial situations don’t allow you the luxury of waiting weeks for a lending decision. Our online-only process ** allows us to respond to nearly all applications within 24 hours. † And we never require collateral. We also evaluate your entire financial situation, not just your FICO score, which means that we can say yes when many other lenders say no. Once you’re approved, you could have access to your money in minutes,* if your bank participates in our Instant Funding ‡ system. And we schedule repayment installments every month, not every week or two. No matter how you look at it, LoanNow is the right choice!