Sometimes, it doesn’t matter how much you budget and pinch your pennies, the universe is against you. Things start piling up, draining the hard-earned money that you squirreled away until you’re left with very little savings at all.
Imagine – your cat eats a rubber band and needs to be rushed to the veterinary clinic. A few days later, the brake lights in your car need to be replaced. When you return from the mechanic’s you find out your hot water heater’s been leaking all day and you need to pay for immediate repairs. To top it all off, this happens the same week that your prescription needs to be renewed. After draining your savings, you may still be short by a couple of hundred dollars. When you find yourself just shy of making your immediate bills, a small dollar loan is your ace in the hole.
These loans are how they sound. Limited to amounts ranging from $200 and $1,000, they’re petite in stature. Small though they may be, they can have a profound effect on your finances. A loan of $200 may be all that you need in order to pay your bills on time, saving you the stress and frustration of incurring late fees and interest. It can take a serious bite out of the responsibilities of your immediate needs, yet its repayment won’t do something similar to your budget. By keeping to small dollar loans, you can easily accommodate its repayment.
Plenty of these loans are offered by direct online lenders that require a strict repayment schedule. Typically, you’ll need to pay back your small dollar loan by the time of your next paycheck; however, not all lenders are alike. Repayment schedules differ from lender to lender. Your payment is also influenced by your location, as some states offer flexible loan products called installment loans. These loans don’t need to be repaid in one lump sum. If you live in Illinois, Utah, Delaware, or South Dakota,you can find installment loan options at MoneyKey that can be arranged to coincide with several pay periods. By prolonging your repayment, you can ease the burden your loan places on your budget.
Regardless of what state you call home, direct online lenders have an easy application process. You only need to go online and fill out their one page form to apply. It requires no lengthy financial statement or credit score. You only have to provide basic banking information, proof of income, and a valid email address. With a few clicks you can see if your application is accepted. After your loan application is verified and approved, your loan is directly deposited into the account you supplied within one business day.
It’s as simple as that. You can open up Chrome and start your application as soon as the plumber leaves. By the following day, you could have the funds that you need to get your finances back on track. So why not open up a tab to start your research now, and find what kinds of loans are available in your state. That way you’re one step closer to getting the money that you need once the bills start piling up.