Here you are, in need of more money than you will get from a payday loan, but less money than you would get for a car loan. Maybe you are wondering if there is a product that meets your needs in this in-between space.
The answer is “yes!”. There are small installment loans that can meet your needs.
Let’s Talk About Small Installment Loans.
Small installment loans might be as small as a 500 dollar loan. If it is that small, you may only need to break it up into three payments.
Yes, you can get a loan like that. There are 90 day installment loans that can take as little as three payments to wrap up.
But it doesn’t have to be that small. You might be talking about something a little larger, but still small. Maybe you are talking about a 2000 dollar loan.
If you need more than you can take care of out of your next paycheck, but you don’t want a long-term obligation, it can be arranged. There are a variety of options, including both unsecured and secured loans.
A secured loan has collateral, like a car title. It will tend to cost less in terms of fees and interest than an unsecured loan.
Good Reasons To Take Out A Small Installment Loan.
You always want to think about what your plan is here. Good debt is debt that leads to a better future. Bad debt is debt that leads to a worse future.
Good debt may solve a problem so things are less expensive in the future. For example, covering medical expenses so your health doesn’t get worse.
Good debt may solve a problem to protect you against worse problems. For example, covering car repairs so you can keep getting to work and don’t get fired.
Good debt may somehow enhance your earning ability. Covering the cost of education or training would fall in this category. Starting a successful business would be another possibility.
Here Are Some Basics You Need To Know.
Like with any loan, you will need to provide a copy of your identification. This will establish that you are a legal adult and a citizen or legal resident. Some common forms of acceptable ID are:
- Driver’s license.
- State-issued ID card.
- Tribal ID card.
Small installment loans may not take much more paperwork than a payday loan. You may only need to provide a pay stub or recent bank statement as proof or income.
Find Small Installment Loans For Your Needs.
TheGuaranteedLoans is a matching service. We help lenders and borrowers to find each other.
You fill out a single application online with us. We compare it to our database of lenders and loan products. When we find a match, we let the lender know about you and your needs. They get back to you to complete the process.