The Best Way to Borrow Money
How much money do you need?
(Won't impact your credit score!)
- 2 Minute Application
- Bad Credit Accepted
- No Credit Check
- Same Day Transfer
When You May Need to Borrow Money?
When borrowing money, what's most important is that you always consider your options, such as what are you planning to do with your borrowed fund and how long would it take for you to pay it back?
Still, if your loan will cover an emergency expense, having ample time to pay the loan off won't be a problem as much as if you will need rapid access to the funds. Besides, if the loan is a small amount that you simply need for a specific purpose, unsecured loans might be a good choice for you because there is no collateral involved.
Ensure that interest rates are clearly defined when going over account terms, so there's no unpleasant surprise at the end of repayment.
Where You Can Borrow Money?
It's important to know your options when it comes time to get a loan. So we've done our research and have put together this list of eight different kinds of ways you can choose to borrow money.
Banks
If you have a good credit score and an existing account in any relevant bank, you can borrow money from that place. The amount could range from $200 to $50,000, and you will get discounted APR. Also, the payment options are flexible!
Credit Unions
To get money from a non-profit credit union, you must be a member there. However, this option offers lower processing fees and reasonable interest rates compared to borrowing money from a bank.
Online Lenders or Brokers
Brokers, such as CocoLoan, can connect you with an online lender to borrow money once you submit an application. If you fall under the eligibility criteria and pass the credit check, then you can get the amount very quickly.
Pawn Shops
A pawn shop loan is different from a traditional personal loan as you can get money at any time, and the amount for that loan is based on the value of an item you're about to pawn. Pawn shops generally do not require credit checks or have a lengthy application process.
Credit Cards
If you have a good credit score and an existing account in any relevant bank, you can borrow money from that place. The amount could range from $200 to $50,000, and you will get discounted APR. Also, the payment options are flexible!
P2P Lending
Peer to peer lending means that you obtain a certain amount from another individual. It is an attractive method for many borrowers today. Instead of going to the bank for a loan and dealing with the hassles, you can now go to P2P lending sites where they can apply for loans from investors who are willing to help out.
Family and Friends
You can ask your family members or friends for money. It is typically an ideal way to find cash as there are no contracts or application filling involved. Moreover, the interest rates are quite flexible.
401(k) Retirement Account
This loan means that you can borrow money from your own 401(k) retirement savings account. Retirement loans are handy due to several reasons, one of which is the fact that you do not need to pay taxes on them. This can be a great option, especially when emergencies come up.
How to Borrow Money Online Easily?
You can get the assistance from an established online broker, such as CocoLoan, to borrow money. We can connect you to several reliable lenders available in its network that can offer you loans based on your requirement.
There are various advantages to getting a loan using CocoLoan. You can check them out in the list below:
Fast & Easy Process
Upon entering the basic information about what kind of loan you are looking for and other relevant specifications, our database will quickly connect you with the lenders you may need. The whole process is incredibly easy to follow.
Industry-Leading Lenders
The lenders associated with our service are highly reliable and leaders in this industry. The offers provided by them come with interest rates and payment plans based on your application.
High Approval Rate
The money borrowing process has a high approval rate even if you have a bad credit score. You will get the funds you need from the chosen lender within just a few days once approved.
Safe & Confidential
CocoLoan takes your security and privacy seriously. We use state-of-the-art systems to protect all your information while it's being handled on our website.
How CocoLoan Works?
If you have any issues learning how to operate CocoLoan to get loan offers from the lenders online, check out the following step-by-step guide.
- 1
Fill out our Form
You will be required to provide basic information regarding yourself, your employment, and your bank account in our form.
- 2
Receive Offers from Our Lenders
Next, you will be shared multiple offers by our lenders, which you can compare.
- 3
Enter into the Agreement
After choosing an offer, you must provide final documentation, and sign the loan agreement online.
- 4
Get your Money
Finally, the discussed loan amount will be transferred to your bank account.
Types of Loans We Can Help You Get
We can get you lender offers for the following loan types:
Payday Loans
CocoLoan can help you get payday loans which are generally small loans repaid with the borrower's next paycheck and given to people who need emergency cash with low credit scores which makes them unable to get a regular personal loan.
Cash Advance
Cash advance is a money borrowing convenience offered by credit card issuers to borrow a specific amount against your account. It is an easy way to obtain quick cash in emergency situations when you need money now to pay your urgent bills.
Installment Loans
You can also get installment loan offers from lenders through CocoLoan, which have to be repaid in smaller amounts over a longer period. The duration of the repayment period is decided upon at the time of borrowing.
Loans For Bad Credit
Even if you have a bad credit score, there are multiple lenders available that will allow you to borrow money. After timely repayment, your credit score can improve as well.
Title Loans
Title loans, also known as title pawns, are given upon putting your car as collateral. The repayments are made over a period of 3 to 12 months.
Quick Loans
Quick loans are loans that can be approved in a very short period of time. The online lenders usually give decisions and transfer the money swiftly.
Personal Loans
CocoLoan also helps you get personal loans that are flexible unsecured and secured loans with a minimum loan amount up to $35000. These loans are convenient and quick.
Short Term Loans
These loans are offered by the lenders with terms shorter than one year to meet immediate financial requirements, like paying off debts, buying groceries or covering rent.
Same Day Loans
After selecting a lender offer for the same day loan, you can get money in your bank account within 24 hours.
How You Can Borrow
Money When You Have Bad Credit?
Banks generally do not lend money if you have a bad credit score. In that case, you can take a personal loan from your local credit union. However, you must become a member of the union to apply for the loan.
The other alternative is accessing CocoLoan, where you have to submit your information in a form, and we will connect you to a network of lenders with offers relevant to your requirements. However, the money is given after a credit check.
How to Borrow Money Reasonably?
Timely repayment of the borrowed money is essential. Other than that, you must follow the below-mentioned guidelines to borrow money aptly:
- Make the loan payment in time every month.
- It is not recommended to borrow an account you can not afford to repay.
- You should manage your expenses so that it is easier for you to pay the borrowed amount back in time.
- Timely inform your lender if you are unable to make the payment in due time.
Want To Borrow Money? Check Out Our Fast and Easy Loans!
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