iQuanti: Getting approved for a loan may seem difficult, especially for borrowers with less than perfect credit. If you don't have a good credit score and are wondering what online loans can get you fast funding, not to worry. Although it may be tough to find online loans with no credit check, there are plenty of loans for borrowers with poor or fair credit that you can easily get approved for. Here are four easy online loans that can get poor-credit borrowers fast funds:
1. Cash advances
Cash advances are small, short-term loans that typically give borrowers a few hundred dollars to cover expenses before their next paycheck. Then, the borrower can pay back the loan in two to four weeks, on their next payday.
Cash advances typically come with easy applications and quick approval processes. You can apply online from the comfort of home in just a few minutes, and may get approved instantly. Many cash advance lenders have less strict credit score requirements and will consider factors in addition to your credit score, like income and employment history. This means that borrowers with poor or fair credit can still get approved.
2. Installment loans
An installment loan is a short-term loan that gives the borrower a lump sum of money that they can pay back in fixed monthly payments, or installments. These loans are great for borrowers that need a larger amount of money to cover expenses like a medical bill or home improvement project.
Many lenders offer online installment loans for borrowers with poor credit. Although they may check your credit, they will also consider additional factors when deciding whether to approve you. If approved, you may receive the funds the same day you apply, within 24 hours, or in a few business days.
3. Lines of credit
A line of credit is a flexible loan that lets you borrow funds as needed up to your set credit limit. Lines of credit can be useful for borrowers that want to fund a project or cover an expense but are unsure of how much it will cost. They can also be great for those that want some extra funds to cover essential expenses each month.
With a line of credit, you'll only pay interest on the amount you borrow, and can pay back the loan all at once or over time. You can easily apply for a line of credit online to get the funding you need right away.
The bottom line
Getting a loan may seem more complicated if you don't have a good credit score, but luckily, there are many online loans designed for borrowers with poor or fair credit that can get you quick funding. Cash advances, installment loans, and lines of credit are just a few loan options to consider. Do some research and compare lenders online to find the right loan for your needs and budget.
Notice: Information provided in this article is for information purposes only. Consult your financial advisor about your financial circumstances.
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Original Source: What Are Easier Online Loans to Get Approved For?
