LoanNow lender: Providing better, faster installment loans

LoanNow lender: Providing better, faster installment loans

LoanNow is a digital lending platform that provides installment loans and consumer credit to borrowers.

There are primarily three types of consumer credit: revolving credit, short-term loans, and installment loans. Credit card issuers are the major source of revolving credit, payday loan / pawn shops are the key sources for a short-term loan or cash advance, while banks and credit unions are the traditional sources for installment credit.

Since banks and credit unions tend to be an inconvenient way to get a loan, installment loans have historically been confined to big ticket purchases, such as homes or cars. However, online lenders like LoanNow have made the process of obtaining an installment loan so fast and easy, that people are turning to these loans as a primary source of credit for all sorts of purchases.

Today, borrowers are using online installment loans to cover everything from a car repair, to a vacation, or even their wedding. But taking a loan from the wrong lender can turn out to be an expensive mistake. Savvy borrowers searching for the best personal loans are turning to LoanNow.

LoanNow claims to set a new standard for the lending industry. The platform says it looks at the entire person, not just their credit score, with loans tailored to every credit situation.

LoanNow says it is only team that allows individuals to take control of their own loan. By meeting a number of achievable goals, you can earn credits that reduce the cost of your loan while you pay it back.

Every LoanNow loan features are fair and straight-forward terms and support with world-class customer service, including easy-to-use online tools and resources.

FEATURES OF LOANNOW

5-Minute Application
All it takes is a few minutes. We’re fast, easy and headache-free.

Fast & Easy Approval
Get your quick loan approval online. Money in minutes.

Deposit to Your Account
Funds are deposited electronically into your account!

HOW LOANNOW WORKS

Apply Now
Complete our easy online application. It takes 5 minutes and there is no paperwork and no faxing required.

Get Approved
You will get a quick loan approval decision. We are a direct lender so there is no wait for an answer.

Get Your Money
We deposit your money right into your bank account. Your installment loan payments come from the same account – automatic, no hassles.

How To Get An Installment Loan With Less Than Perfect Credit
Dealing With Slow and Tough Banks

When most people think about installment loans, they think of banks. Banks provide installment loans for a number of purposes, including mortgage loans, car loans, student loans and personal loans. Especially for unsecured loans, banks maintain very stringent credit requirements for borrowers to be approved. Borrowers with marginal credit must frequently provide a creditworthy co-signer to have any chance of approval for a bank loan.

Another shortcoming with bank installment loans is that there is usually a lengthy application process involved. It can take weeks to get your money, that is, if you qualify. If you’re seeking a loan to keep your electricity from being shut off or to fix your car so you can get back and forth to work, bank installment loans are probably not a viable option.

Avoid Short Term Lenders

Many borrowers who have been turned down by banks or credit unions turn to payday lenders advertising short term installment loans. You get your money immediately, which is convenient, but the convenience of their same day installment loans often comes at a high price. In reality, these so-called short term installment loans are really just payday loans in disguise. Your payments are often due only a few days apart, with a final due date that is only slightly longer than regular payday loans.

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About the Author: Femi Adeoya

Mr Femi Adeoya is a Chartered Forensic Accountant and a Certified Fraud Examiner. He has over 20 years professional work experience in accounting, finance and business management processes. As an Accounting Software Expert, he has implemented and supervised accounting solution set up of over 50 small and medium businesses in Nigeria. As a passionate blogger, Mr Adeoya is an ardent writer and communicationist. He is the CEO of QUICK LOAN ARENA (quickloanarena.com), the number 1 loan apps review website in Nigeria. He is very passionate about the quick and instant loan industry in Nigeria and has written over 200 reviews on different loan apps and digital banks in Nigeria, USA, Canada and UK.

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