Loan Business: Learn About Loans

Loan Business
Loan Business

Learn about Loans

Hi and Welcome to the blog.In this blog, we will be covering many aspects of the loan industry. From improving your credit score to keeping up with what’s going on in the loan business. If your new to loans or you’re just wanting to become a more informed borrower, then this is the blog for you. Below are definitions of the most common loans taken out.

Payday Loan

A Payday Loan is a relatively small amount of money lent at a certain interest rate on the agreement that it will be repaid when the borrower receives their next paycheck.

Personal Loan

A Personal loans are backed only by your promise to repay, and for this reason they are also known as “signature loan” or “unsecured loans.”

1 Hour Loan

A 1 hour loan you use to cover small, unexpected expenses while avoiding expensive bounce-check fees.

Cash Advance

cash advance is a service provided by most credit card companies or online loan lenders. The service allows cardholders to withdraw cash, either through an ATM or over the counter at a bank or other financial agency, up to a certain limit. Online the borrower fills out the application and once approved then they receive their cash usually by direct deposit.

Title Loans

A title loan is a short-term loan in which the borrower’s car title is used as collateral. The borrower must own the car outright. Loans are usually for less than 30 days.