Help With Rent
It can happen to anyone. A financial emergency or forgetting to include a check or ATM withdrawal while balancing a bank account. All of a sudden, you don’t have the money you need to pay the landlord this month. While you may be able to stall for a few days, eventually you’ll need help with rent, or you’ll be facing the prospect of eviction. You may consider a number of possibilities, including bank loans and short term loans, but the best option could be a loan from LoanNow!
Bank loans carry relatively low interest rates and reasonable repayment periods. However, people who need help with rent often need money right away, which eliminates bank loans. That’s because bank loans often require weeks for processing. Borrowers must submit detailed personal and financial information in the hopes of obtaining approval from loan officers. Borrowers with less than perfect often find that banks require collateral or a credit-worthy co-signer as a condition for approving their loan applications. Borrowers with poor credit are usually refused outright.
Short Term Loans
Borrowers who are desperate for help with rent often turn to short term loans from pawn shops or payday lenders. Such loans seem convenient on the surface. There are few or no credit checks and processing is completed quickly, sometimes on the spot. But the drawbacks more than overshadow the initial convenience of short term loans.
Pawn shops don’t run credit checks at all. They don’t need to; they demand collateral in the form of valuable personal property to be surrendered in exchange for their loans. They also insulate themselves by lending only a portion of the value of the property that borrowers surrender. Borrowers who fail to repay their pawn shop loans, with interest, forfeit their personal property for good.
Other short term lenders exercise lax credit standards, linking their loans to paychecks or government payments expected by borrowers. In exchange, these short term lenders charge exorbitant interest rates and demand repayment within a few weeks or even a few days. Borrowers who fail to meet these stringent terms are caught in a cycle of repayments and escalating fees that can require years to escape.
Help with Rent from LoanNow
Why wait weeks for a bank loan or subject your budget to the hazards of short term loans? LoanNow provides help with rent without the wait – and without the risk to your financial bottom line. LoanNow is the better than a bank loan – check out the LoanNow difference for yourself today!