There are many reasons as to why people borrow loans. People will often time borrow loans to start a business or expand their existing business. Students will also borrow student loans when they experience a financial crisis or their bank check bounces. But there are times when you need quick cash to solve a financial emergency such as medical bills, or utility bills of water or electricity. There are many lenders today who offer different kinds of loans to their customers in short a period of time.
Private lenders are better than banks as they don’t require a lot of paper work which requires your physical availability. Their loans take a short period of time to get approved and can be applied from the comfort of your home. One reputable lender for those with financial needs is this company !
You can borrow a loan of $1,000 and get it approved within 24 hours. To borrow loans from Bestchoice123, you are required to sign up for a membership account on the website.
Qualifications for Bestchoice123 Loans
As said above, private lenders don’t ask the many details asked by banks. You don’t need to visit their offices to apply for their loans. Also, private lenders don’t ask for collateral which may be a big hindrance to loans approval. Being a private lender, Bestchoice123 requires you to have some few qualifications that are listed below;
- You should be at least 18 years old.
- You should have your own valid email account.
- You must possess a valid phone number for communication purposes
- You should have a valid checking account that does not have insufficient fund transactions or returned checks for the past 30 days.
- Lastly, you should be employed or have a steady source of income that is directly deposited in your checking account.
If you’re a first-time borrower, the minimum loan you can get from Bestchoice123 is $300.00 and $1,200.00 maximum. The loan amount will depend on the information you provide to them when signing up. The maximum loan amount for regular borrowers is $2,500.
It’s easy to pay off your loans. What they do is to automatically deduct your loan amount from your checking account on your pay day. Your first loan repayment will fall on your next payday if it falls at least 7 days away. But if your pay day is less than 7 days away, your loan repayment will be on the following pay day. However, if your payday falls on a holiday or weekend, you will pay off the loan on the next business day. If you choose to change the pay date, you need to notify them 2 days before.
This company offers reasonable loan rates to their members. The returning member with good payment history will even get better rates as a way of thanking them. Your loan rates and schedule will be provided in your loan agreement, and you should check this before confirming just to avoid any confusion.