Here are some frequently asked questions (FAQs) most of our clients ask about loans:
- How does a loan work?
Loans are the amount of money lent out to you upon application and are structured to be paid back with a specific amount added as interest on a loan term, which is the method of paying back in installment or in full on a specific period or timing. Interests are determined by every loan company and are different, depending on the service terms and government regulations.
- What is a credit score and how much should I have to avail of a loan?
A credit score is the official rating of your financial capacity to repay loans and debts. TransUnion and Equifax, two governing credit bureaus, noted that the acceptable credit scores range from 600 to 900, with the former being the average and the latter as excellent. Any credit scores below 600 can still opt for loans but will be subject to longer evaluations.
- Why getting a loan from a bank is harder than most loan companies?
Banks have stricter qualifications, terms, and regulations with creditors. Even if they offer competitive and tantalizing interest rates, they have a lot of conditions that you must meet to avail of a bank loan. An example of such a condition is the need for corresponding collateral.
- How can I get a fast loan?
The fastest loan is a payday loan. With us, all it takes is applying online and get approved right away. It is important to note that fast loans are not long term and must be paid on your next payday right away.
- How can I start getting a loan consultation today?
Just click on Apply Now or contact one of our loan advisors to get your personal or business loan advice today.