วันอาทิตย์ที่ 31 มกราคม พ.ศ. 2559

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If you have never heard of a small personal loan, you may be wondering what it is and how it can help you. Though some small loans are interchangeable with payday loans, where you are given money at a very high interest to use until you are next paid, there are others that are more useful. Small personal loans are basically any unsecured loan that is for $10,000 or less which is often used in lieu of credit cards.
Who Can Receive a Small Personal Loan
One problem with small personal loans is that often they can be difficult to obtain if you have bad credit. Many lenders will insist on collateral for the loan, making you place your car or home in jeopardy should you be unable to pay the loan. Small personal loans are really a better option for those with better credit scores who can obtain these funds at an interest rate much lower than many credit card companies.
The Uses for Small Personal Loans
If you are one of those people with good enough credit to qualify for an unsecured loan, the next step is to determine what use it would have to you. Unlike home or auto loans which must be used for specific purchases, personal loans can literally be used for anything.
Some ideas for the use of an unsecured personal loan are:
A means to consolidate debt (often credit card debt) into one payment with lower interest rates.
Many small personal loans will have interest rates as low as 5.9% which is much better than even the lowest credit cards. Using this kind of loan to consolidate debt in this way can literally save you hundreds in interest.
A way to make a large purchase, such as home furnishings, with a longer term payment plan and a lower interest than offered by stores.
Other home improvement projects can also be costly, such as furnace replacements or upgrade to windows, the roof, etc. Basically, you can use small personal loans as alternatives to a home equity loan if you cannot get one. An unsecured small loan can provide a great way to get improvements done quickly with the lowest interest rate around.

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