In Utah, it’s an instinct to think of banks and credit unions when you’re in need of a personal loan. Many don’t realize, however, that non-traditional lenders are better sources of instant cash for great reasons. If you’re in a bind, here are the unique benefits this type of loan:
No Need to Open an Account
Nearly no traditional financial institution would lend money to strangers. You have to open at least a savings or a checking account before you access the loan products that organization offers. It often means plenty of paperwork and days of evaluation to begin your relationship with them. In emergencies, you usually don’t have the time to wait for their tedious procedure to complete.
The application process for non-traditional lenders is the total opposite. You only have to fill out a short document to get evaluated. Afterwards, a representative will discuss how much you can borrow, the applicable interest in dollars, and the payment scheme.
No Need to Wait for Monday
Non-traditional lenders approve installment loans in Ogden, Sandy, and Spanish Fork almost every day. They operate when most banks and credit unions are closed. Again, this means convenience for you. They offer a great source of instant cash, especially when it comes to time-sensitive bills. As unexpected expenses can arise at the worst hour, an unconventional loan company is always within reach.
No Need to Build Your Credit
Non-traditional lenders never discriminate. Compared to mainstream financial institutions, they loan money to all individuals with an unsightly credit history. Accessing instant cash may be a privilege, but it’s a privilege that shouldn’t be difficult to earn, especially after coming from financial ruin.
In fact, an installment loan from a non-traditional company can help you rebuild your credit. Your payments will be reported to credit bureaus, earning you positive points in every prompt payment.
Non-traditional loan providers value customer service. They’re never out there to rip you off, but rather help you financially when you need them.