You wake up on a Sunday morning and the car won’t start – problem with the transmission in your car. Your mechanic says it will cost a minimum of $700 to have the problem fixed. It is early in the month; no salary in sight, and no savings to turn to! It’s definitely an emergency. You must get to work the following day with this very car. What do you do?
Such tight spots occur all the time, and they simply never announce when they are going to happen. While such emergencies can instantly turn your day from good to awful, there is always a way out. You just need to know where to look.
Online loans: your quick way out of emergency
With the rise of online loans such as Northcash installment loans, it is much easier now to raise the money you need to get you out of an emergency. Most online lenders are keen to make the loan application and acquisition process easy and stress-free. Oftentimes, they’ll require you to fill up only a few details on a loan application form to access the funds you need. This is usually a short and secure form that you can complete in a matter of seconds – and you’ll be on your way to getting the desired pre-approval for your loan application.
Normally, the lender reaches out to you to confirm that all the details you have provided are correct. After the confirmation, you can expect to receive your money the next business day. Everything is done online, meaning that you can apply for your loan anyplace, even on the road.
Being able to have money deposited in your bank account within as little as 24 hours can be a lifesaver. Interestingly, you’ll only need as little as five minutes to complete the entire application process.
Convenient loan application process
When it comes to online loans, there is no booking an appointment with a loan officer for you to initiate the process. Neither do you need to call the lender several times to be able to access the cash. You can send your loan application from the convenience of your home, car or office. You can apply for the loan using your phone or PC, without any restriction. Additionally, unlike traditional loans that involve several back and forth meetings with a loan officer, online loans typically get pre-approved after a single instance of application.
It is because of this level of convenience that many people find online loans a great alternative when it comes to addressing an emergency situation. Notice however that these types of loans should be taken out only for emergencies and not as a regular source of financing.
Caveat: in case of high-interest loans, make sure you can pay back the loan on time so that the debt does not affect your credit profile. Not everyone pays back their loans on time, but evidence shows that a good many people are able to repay their online loans without issues.
There are lots of situations that require instant money to address, and since you won’t always know when the next emergency situation will strike, it helps to have a place from where you can raise the money at an instance.