Types of Loans Offered
We connect you to a network of trusted lenders who offer various loan types to cater to diverse needs:
| Loan Type | Typical Amounts | Requirements | Repayment Terms | APRs |
|---|---|---|---|---|
| Personal Loans | $1,000 to $50,000 | Good credit, proof of income | 12 months to 7 years | 3% to 36% |
| Payday Loans | Up to $1,000 | Active bank account, proof of income | Until next payday | Typically up to 400% |
| Cash Advance | Varies | Credit card or line of credit | Varies by card terms | 20% to 30% |
| Bad Credit Loans | $500 to $10,000 | Proof of income; collateral might be needed | 6 months to 5 years | 15% to 30% |
Can I Get a Loan with Bad Credit?
Credit challenges are a reality for many. A history of late payments, high balances, or other financial missteps can lower credit scores, but this doesn’t mean you’re without options in Kansas City. Bad credit loans are tailored for individuals with imperfect credit histories. While interest rates may be higher, reflecting the perceived risk, they provide essential access to funds when it’s needed most. Remember, every loan, when repaid on time, offers a pathway to rebuild credit.
How Do I Choose the Right Loan Type?
Selecting the best loan for your situation requires an understanding of your financial circumstances and your ability to repay:
- Purpose of the Loan: A one-time emergency might be best met with a payday loan or cash advance, while debt consolidation or significant expenses could benefit from a personal loan.
- Loan Amount: Only borrow what you need and can repay.
- Interest Rates & Fees: Understand all the costs associated with the loan.
- Duration of Loan: While longer durations might reduce monthly payments, they often result in higher interest costs.
What are the Alternatives?
Beyond the loan types mentioned:
- Credit Unions: Often more flexible and may offer lower interest rates than traditional banks.
- Peer-to-Peer Lending: Platforms like Prosper can connect you with individual lenders.
- Secured Loans: Use collateral (like a car title) to get a loan. While potentially lower in interest, they come with the risk of asset forfeiture if not repaid.
FAQs
We connect prospective borrowers with third-party lenders in our network to help them find suitable loans.
After submitting details, decisions from lenders can often be received in minutes, though final disbursement times can vary.
No, using our platform to find a loan is free for borrowers.
Yes. Data security is our priority. We only share information with potential lenders to facilitate loan offers.
Absolutely. Different lenders have varying criteria. A rejection from one doesn’t equate to a blanket rejection.
Factors include your credit score, income, employment status, and the lender’s individual criteria.
These are set by the individual lender based on the type of loan, your creditworthiness, and state regulations.
