It seems that sometimes no matter how well prepared we are certain situations seems to test the depth of our pockets. In situations like these expenses can sometimes be more much greater than our bank balance.
A loan can help you out when you are in a financial rut. Unlike pay day loans small personal loans are are more flexible offering a larger payback period and also allowing you to borrow more money.
Judging the best small personal loans providers
Taking out a small personal loans can be the wise thing to do, but with over 100 different loan lending companies just in the United States alone. How do you choose the best one?
The answer to that is pretty straight forward, you judge them on a couple of factors such as:
- How much new customers can borrow
In our case we will say that the higher the better. Typically small personal loans providers offer loans of up to $1,000 for new customers.
- Rate of APR :
APR means the Annual Percentage Rate of charge. It is how much you will be charged for borrowing the loan. The lower the better typically with small personal loan providers APR is .
- Transfer time
This is how much time it will take for the loan to be transferred in to your account. If you need money quickly, go with a provider that offers funds transfer the same day or overnight.
- Payback period
Some small personal loans lenders provide a payback period of 30 days others are more generous and provide a payback period of up to 12 months.
The top 3 small personal loans providers
Below is a list of the top 3 loan companies we found after researching over 40 different loan providers.
|Loan provider||New customer borrow limit||Rate of APR||Transfer time||Pay back period||Credit Score?||How to apply|
|ClickNLoan||$100 to $10,000||4.9% to 35.8%||Usually within 1 business day||Up to 60 months||Yes but perfect credit score not required||Visit their website to apply for a loan|
|First Choice Lending Network||Up to $1000||6.59% to 39.99%||1 to 2 business days||Negotiable with lender||Loans available for all credit types||Visit their website to apply for loan|
|No problem cash||Up to $1000||261% +||Usually within 1 hour||Until pay day||All credit types of credit scores are approved.||Visit their website to apply for a loan|
Who we would recommend we would recommend
As it is obvious from the table above Click N Loan for three simple facts:
- 60 months repayment term means that the loan you are taking out can be paid be paid back over a long period of time. This can help if you are facing cash flow issues or if you won’t be able to pay back the loan within 3 or 4 months.
- You can borrow up to $10,000, which is substantially more than the other providers
- As like with all the other lenders you do not need to have a perfect credit score to get a loan. This is great news if you have been turned down by the mainstream lenders.