Life is a roller coaster with plenty of ups and downs. More than that, it’s like a roller coaster in the dark – there’s a lot of unseen twists and turns along the way! Sometimes things go better than expected, other times they turn bad very quickly. Of course the ideal thing to do is have an emergency fund for those situations.
This should be built up gradually. You can aim for a weeks expenses, then enough for a month, with most people increasing their fund until it can cover every expense for 3 months, or even more!
If the emergency is going to cost more than your fund covers, or you don’t yet have a fund, then an emergency loan can be vital. Make sure that you understand the interest and the total amount you will be paying back. Missed payments can cause serious problems, so you have to be certain you can meet the terms.
5 Lenders Need to Consider
With that said, as long as you know what you’re doing this is a useful way out of a jam. Here are 5 lenders for you to consider.
NetCredit provide personalized emergency loans in over half of the states. These guys work based mostly on what your credit rating is and will decide the amount and interest rates from there. If you have good credit and need over $1,000 this could be the place for you.
King of Kash
King of Kash has been around for a long time now, coming up to a full 40 years in fact. Despite being based in Kansas originally, they have expanded into other nearby states and focus on the customers specific needs. This means they will try to create a personalized loan for your situation. If you’re interested in more on them, check out this website. There’s also no minimum loan amount with King of Kash, so they’re ideal for emergencies needing up to a few thousand dollars.
Mariner Finance has been operating for over a decade. Their interest rates are very competitive on many types of loans, as they also do home & car loans alongside their unsecured personal loan options. Mariner has a max limit of $25,000 on their loans, though they do also have a minimum credit score requirement.
We Give Loans
We Give Loans is a bit of a different company, and isn’t really for everyone. They basically middleman a loan, specializing in emergency and bad credit loans. Interest rates, as expected, are higher than with many of the other providers. The advantage is that by dealing with these guys, they then deal with multiple loan providers to see what deals can be found for you.
Personal Finance Company
Personal Finance Company is actually a subsidy of Mariner Finance. Debt consolidation, small business and personal loans are their specialty fields. These guys don’t really do small loans either, their minimum is $1,000. That may sound great, but the interest on larger amounts can really hurt you, especially if you only need a few hundred dollars.
About Mark Jones
Mark Jones is a former loan broker turned blogger/writer. He spent 15 years in the loan industry first as an administrator and then as an independent broker. He then moved into part time financial advisory work alongside writing for financial and loan related websites.