Need a loan quickly but have a low credit score? If you want to know where to borrow 2500 dollars with bad credit, we explore the options of payday loans with extended payback and 6 month installment loans which you can get online.
Getting a temporary payday loan is convenient and enables you to bridge the financial gap between paychecks. As guaranteed legit payday loans can be available even with bad FICO, they are a valuable source of funding for people who are unable to get financing from traditional lenders.
If you need to borrow 2500 dollars with no borrowing history, you may be able to get one from an online payday lender with lesser fees. Some national payday loan companies offer them as signature loans and these are larger loans with a longer repayment period. If you take a 1 month payday loan, you have to return the loan by the time you receive your next paycheck and although you can extend the payment date, payday loans are best for short term use. Granted, there are long deadline payday loans or 90 day loans given by these direct loan companies, but due to the high APR, it is not very cost-effective. If 30 days are too short, try getting cash advance on your signature or another alternative is to get a 9 month installment loan that you can pay back monthly.
Accredited installment loans for bad credit can either be unsecured or that they require a collateral to secure them. You may want to search for installment lenders that give long term loans with low APR and find out more directly from them about a 2500 dollar cash loan.
Getting a non-bank personal loan with poor credit is surely going to cost you more in interest. Therefore you should explore these options only when you are unable to get a cheap and low interest loan from your bank or credit union.