5 reasons why unsecured loan lenders are the better choice
Unsecured loans have been popular for decades. They’re easy to obtain, easy to repay, and easy to manage. Each year thousands of people apply and receive unsecured loans to cover bills, debt, repairs, travel expenses, and other costs. Unsecured loans don’t require borrowers to put down any collateral. The lack of a collateral requirement is the number one reason why people are so attracted to unsecured loans. Unsecured loans are funded by unsecured loan lenders. These lenders don’t work under the same set of rules that your average bank’s lenders work under. Here’s why unsecured loan lenders are better for you and your wallet:
1). Unsecured loan lenders don’t require credit checks. Do you have bad credit? Are you worried or concerned about your credit score? If you do, you don’t have to worry. Bank lenders are required under bank policy to run a credit check on any individual who applies for a loan. Unlike bank lenders, unsecured loan lenders are either self-employed or work for private financial companies. They aren’t concerned with how good (or bad) a person’s credit score is. Carl K, an unsecured loan lender, explains why:
“A credit score is nothing more than a popularity contest,” Carl said. “A ‘high’ score means a person is ‘good’ at borrowing. People with high scores usually have a lot of debt. The score stays high because the person is good at making payments on time. Banks and other institutions like to lend to people who stay in debt and make monthly payments because it’s how they stay in business. People with a ‘low’ score don’t tend to take out loans. Banks are wary of these customers because they’re unsure of what will happen. That’s all a credit score is. Unsecured loan lenders’ number one concern is whether or not a potential borrower is employed. If they are, that’s a good enough indicator that they can repay the amount they borrowed.”
2). Unsecured loan lenders compete for your business. If you apply for a loan at a bank, you’re essentially applying to work with one lender under one set of rules. If you apply for a loan with unsecured loan lenders, you’re submitting your application to hundreds of lenders willing to process your request. Applying to a “pool” of lenders means you’ll get the lowest rates and best terms possible. The lender that can give you the best deal is the “winning” lender. Borrowers who apply for a bank loan through bank lenders are selling themselves short.
“ ‘Unsecured loan lenders’ is a general term used to describe any sole person or business who lends these types of loans,” Carl said. “An ‘unsecured loan lender’ could be a self-employed millionaire in California who does this on the side. An ‘unsecured loan lender’ could also be a small company in Missouri. It doesn’t matter who the lender is or where they are, what matters is the type of deal they can offer a borrower. Our software filters a potential borrower’s application for details like income and the amount they want to borrow. The lender that can fulfill this request at the lowest cost is the lender that is ‘matched’ with the borrower.”
3). Unsecured loan lenders are flexible. Because there are so many unsecured loan lenders out there, unsecured loan lenders tend to be more flexible than the average lender. Unsecured loan lenders offer various payment plans and repayment options for qualified borrowers.
“Unsecured loan lenders are real people, too. They understand the unpredictability of life. 9 times out of 10 they can help you resolve an issue,” Carl said.
4). Unsecured loan lenders are available 24/7. Sometimes it’s not easy to take a call between normal business hours. Many unsecured loan borrowers are unable to apply or talk to a lender between the hours of 9-5. Luckily, unsecured loan lenders are available to assist potential borrowers any time of the day, 365 days a year.
“Unsecured loan lenders are available any time, all the time. Yes, they’re even available on Christmas morning,” Carl said.
5). Unsecured loan lenders operate a low-cost business. Banks, store-front lenders, and credit unions all have to pay overhead costs. An overhead cost is exactly what its name implies: It’s any cost that relates to putting a roof “over your head.” Rent, utilities, insurance, water, and wages are large costs for any business. Businesses have to cover these costs and still make a profit. That’s why a bank’s rates are usually so high. Unsecured loan lenders operate out of call centers or from home. They don’t pay any of those expensive fees. They money they save by doing business this way is reflected by how little their customers pay.
“We can offer our customers low rates because we don’t have a large cost of doing business,” Carl said. “True, a bank’s building is nice. But many bank customers don’t realize they’re the ones paying for it.”
Network of unsecured loan Lenders
Our network of unsecured loan lenders are currently offering up to $1500 cash loans to qualified borrowers. As long as a borrower is employed, has a bank account, and is a US legal adult, he or she can be approved instantly. If you need cash to catch up on bills, repairs, or debt, an unsecured loan may help.
“An unsecured loan from Green Leaf Loan Group helped me during the most difficult time in my life,” Rachelle, an unsecured loan borrower said. “I thought I wouldn’t get out of my mess without losing my car or my home. My direct lender helped me get a $1800 loan so I could get my life back on track. I’d definitely recommend an unsecured loan to anyone in financial hardship.”
Don’t wait for cash when there are cash loans available
If you need cash, don’t wait. You could get up to $1500 in one business day or less. The entire application and approval process takes less than 5 minutes to complete. You can apply at home or over your mobile device. Click here to apply for an unsecured loan.
“We’re in the business of helping people,” Carl said. “Don’t let the word ‘unsecured’ fool you. An unsecured loan is one of the few services left that enables a middle-class borrower to get money without handing over the papers to something he or she owns. I’m happy to be a part of a business that truly makes a difference in people’s lives.”