LoanNow Makes Lending Options Closer Than You Think!
Your car needs a new transmission. Your daughter broke her leg playing soccer. Your cell phone bill is way overdue. Whatever the circumstances, you need money and you need it fast. But you already know that you don’t qualify for bank loans. You also don’t have any friends or family members that can lend you any money. Commercial lenders are your only option. When you ask yourself, “Where can I find loan companies near me?” the answer may be finance companies, or undesirable options like payday loan stores.
You may have also considered an online lender – but nixed the idea because of the anonymity of the Web. You may be thinking, “I’m only interested in loan places near me.” That’s understandable, but that kind of thinking is short sighted. Before you settle for a bad loan that can make your financial circumstances worse, consider LoanNow. The cash you need may be as close as your home computer!
Banks Are a Good Option – if You Have Good Credit
Local banks have long served as loan places near me, near you and nearly everyone in America. Banks have been in existence for nearly the entire existence of this country. Depending on your circumstances, bank loans could be the best option. Bank loans typically carry lower interest rates and feature more favorable repayment terms, at least for borrowers with good credit.
But banks often require weeks to process your loan application. Even if you have excellent credit, you must endure the wait. That makes banks a less than ideal choice for dealing with financial emergencies. Banks are also unfavorably inclined toward prospective borrowers with marginal or poor credit. Such borrowers are frequently required to provide creditworthy co-signers, collateral or both as a condition for being approved – while others are turned down outright.
Local Finance Companies Are Often More Lenient than Banks
For some borrowers finance companies are the answer to the question “where are loan companies near me?” Although they charge higher interest rates for their loans, finance companies are often more lenient in making credit decisions than banks. But the application process for finance companies can be about as lengthy as with banks, so they’re also not great choices for financial emergencies.
Local Pawn Shops Provide Loans with No Questions Asked
You may not consider pawn shops when you ask yourself “where are loan places near me?” but pawn shops are often the lenders of last resort for desperate borrowers. Pawn shops don’t care about your credit and ask no questions about how you intend to use the money. As long as you’re willing to pony up merchandise like gold chains, diamond rings or the latest iGadget, you get cash on the spot, no questions asked.
But pawn shops can be sketchy, not to mention the embarrassment factor associated with being seen going in or coming out. Pawn shops also only lend about 25 percent of the value of the items they hold as collateral. And you’re expected to repay the loan in full within 30 to 60 days, or forfeit your property for good. If you’ve put your Aunt Frances’ diamond earrings or your grandfather’s gold watch in hock and default on the loan, you could have some tricky explaining to do if someone asks about their whereabouts.
Payday Loan Stores Often Lead to Long Term Debt
For too many desperate borrowers with poor credit and limited financial resources, local payday loan stores often represent the answer to the question “where can I find loan companies near me.” Initially, the process is easy. You only have to demonstrate that you have a job, provide one or more post-dated checks, and you walk out the door with cash. But that relief is soon replaced with the realization that those loans must be repaid, in full, within just a few weeks.
That’s because repayments are scheduled to coincide with your next paycheck or other regular payment. If you’re paid every week, your loan could be due as soon as 10 days after you receive your funds! If that sounds like it would be tough to manage, that’s because it is. In fact, more than half of payday loan borrowers must refinance their loans at least once. Many borrowers go through several rollovers, paying many times the amount that they originally borrowed, and remaining in debt for months or even years after receiving their loans.
Who has time for that?
Instead of asking “where can I find loan places near me?” perhaps you should consider the convenience of LoanNow. Our online-only** application can be completed in the privacy of your own home, and you’ll receive a response within hours, not weeks.† Less than perfect credit isn’t a deal breaker, either. With LoanNow, you’re more than a FICO score. We often say yes when banks say no. And we never demand collateral.
LoanNow also says NO to lump-sum repayments and rollovers. Instead, our loan repayments are structured into manageable monthly installments that work with your budget. LoanNow provides the cash you need with repayment terms you can live with. Check out the LoanNow advantage for yourself!