Money loans: what options do you have
A money loan is a financial service that is provided by banks, financial institutions or individuals. Although apparently all money loans offer the same, there are different types, which have different characteristics, requirements and conditions.
When choosing a loan it is important that
As with other products, you take the time to research and compare the options available in the market. At Good Lender we want to help you carry your personal finances responsibly, so we share information about the main options you have when you need a loan.
This type is known as loans with collateral, that is to say that the institution you go to will lend you an amount of money in exchange for leaving an item in guarantee, which can be jewelry, appliances or even automobiles and deeds of real estate. Many people turn to pawn shops because the loan is delivered in cash almost immediately. However, when applying for pawnshops, you run the risk of losing your assets if you fail to pay on time.
In this case, those who offer the loans are particular. By not having a legal figure before the Condusef, the clients of the lenders cannot request the support of any public institution if a controversy arises in the loan agreement. Although many people see the fact that lenders do not consult the credit bureau as a great advantage, this is an indicator of the irregularity with which these types of money loans are handled.
Depending on the way they are processed there are two types: traditional and online.
- Traditional loan: it is a much safer option than the previous ones and is usually backed by well-established financial institutions. The problem is that the procedures must be carried out directly at the branch and, usually, take several weeks.
- Online loans: thanks to advances in technology, fintech now offers online loans that can be requested without leaving home. In addition to being a very secure loan option, it has the great advantage of providing a response in a couple of hours. Depending on the company, customers can receive their loan in less than a day, or even in just a few minutes.
We know that many of the situations that come unexpectedly require us to act immediately
However, making decisions without being properly informed can lead us to jeopardize the state of our personal finances. Do not wait to have to attend an emergency. Find out, know and compare the options of money loans. If you are interested in knowing more about the requirements and advantages of online loans, we invite you to visit us.