Tag Archives: 12 Months Installment Loans

Legitimate Lenders For $8000 Loans

If you are looking for a $8000 dollar loan, the types of lenders available are slightly different compared to the usual choices for smaller loans. For example, most legitimate payday loan companies do not provide loan offers above $1500, since you may need more time to completely pay off a larger loan. This is not really a bad thing, for a $8000 cash advance can become very costly even if approved. Anyway, there are also state laws prohibiting loan companies from making short term loans above a certain amount.

Typically, the legitimate $8000 loan options you can consider are

1. Financial help from family or friends
2. Installment loans from banks or credit unions
3. Peer to peer loan networks
4. Small Business Association

$8000 Loans With No Fees

Firstly, try asking friends or family if they can help you out financially. Money can strain your relationships, so think carefully before popping the big question. Of course, in the ideal world, your friends are able to give you a no fee $8000 loan and you can take your own time to pay back. A softer approach is to ask them to be your loan co-signer, so that you can get cheaper installment loan rates for 12 months. This is especially true if you know that they are not financially well off, but still have better credit scores compared to yours.

$8000 Unsecured Installment Loans For 12 Months

Many banks and credit unions provide installment loans where you can borrow a lump sum of cash and subsequently make a series of small monthly payments until the balance is cleared. If your FICO is under 620, there are online installment loan lenders available as well, although the rates are less favorable compared to banks. This underlines the importance of maintaining a high credit score to benefit from cheap financing.

P2Peer Loans for $8000

Peer-to-peer lending networks such as Prosper.com are designed to match lenders and borrowers online. The unique feature is that many of these lenders are ordinary folks who wanted to earn a higher yield on their money compared to conventional investments such as equities, bonds, commodities etc. To get a P2P loan, you need to register on the site, create a detailed profile about yourself and information about the loan you need. Lenders who are interested can then decide on the amount they are willing to make, hence you may end up borrowing from more than 1 single lender for a $8000 long term loan. Since the credit risk is diversified by a number of lenders, it is actually easier to get legit large loans approved.

SBA Loan for $8000

If your purpose for borrowing money is to finance a business idea, then you should draft up a detailed business plan and gun for a SBA or Small Business Association loan. This is the best option to find money for running your business, instead of personal loans. Note that the SBA association do not give loans directly to borrowers. What it does is simply to guarantee loans made by lenders. However, you do need a feasible business plan to qualify. Hence, there are much more paperwork if you are going this route. Contact legit lenders for free loan offers now.

12 Month Installment Loans Online Income Verification

12 Month Installment Loans

For long term borrowing, a person who is unemployed may consider a 12 month installment loans with fast income verification. This is because a long deadline personal loan for bad credit or worse tend to have a lower annual percentage rate as compared to short term cash advances like 30 day payday loans or other similar one month private loans with a short repayment deadline. With the cheaper interest rate coupled with a longer period of repayment, it makes it easier for a person who is jobless to service a bad credit installment loan for 12 months, giving him or her more time with it.

You can shop around and visit a number of banks and financial institutions to see what are the types of real installment loans available. Typically, they fall under the category of personal loans: short term or long term personal loans and whether they are secured or unsecured.

Unsecured Loans From Banks With Long Term Payback

As a general guide, you will need to have an exemplary credit record if you wish to borrow unsecured installment loan of 4000 dollars and higher through the banks. You can retrieve a free copy of your borrowing/payment records from annualcreditreport.com and go through the report for any errors. If you find yourself having bad credit and unable to get approval for bank personal installment loans, you need not lose hope.

Private Installment Loan Lenders

There are some personal installment lenders operating in the private lending market and these direct lenders are often able to provide unsecured loans with no upfront fees, hence saving you the hassle from having people look into your credit history. A 12 month long term loan with low income requirements and pay back by installments can be negotiated with either low cost monthly installment loan lenders like ChecknGo or from other legitimate third-party loan broker websites that help to match your loan requirements with a financial lender.

It will cost you a lot more in finance fees if you opt to borrow money with poor credit by using these direct cash advance companies and you should always first consider all avenues that you may be able to get money from that do not need you to pay any fee for a loan.