In order for a loan to be as cheap as possible lenders frequently require some kind of a security. However, many customers prefer to apply for unsecured loans, which should make them not only more expensive (with higher interest rate and monthly installment), but also slightly more difficult to get. Therefore, in order to achieve the golden mean between customers’ dislike for secured loans and lenders unwillingness to risk large amounts of money we have made our personal loans cheap by rethinking the application process.
With traditional lenders you apply for a personal loan and receive a proposal which you may accept, or decline and this is basically it. If you have plenty of time you may spend it looking for lender who will offer you what you want. When you apply for a personal loan with Loans 300.com the application (without any personal data) is analyzed by members of our network. Those lenders place sort of ‘reversed’ bids on your loan, which means that a number of lenders tell us for at what interest rate (or overall price) they would be willing to lend you money. We choose the best offer for you so that you could save time on looking for a lender and save money by getting your desired personal loan as cheap as you can.
The whole procedure takes very little time as it is partially automatized. You should know however, that customers with bad credit will pay a bit more for loans than those with no bad credit. The reason being that lenders treat that extra amount of money as a sort of insurance because of higher risk connected with lending. That has both pros and cons. The biggest advantage of that situation, of course, is the fact that people with bad credit can also apply and get personal loans. The only disadvantage is the fact that the loan you will need to repay slightly more that you would have to without bad credit. In order to make up for it you can always try to repay it over a longer period of time which will enable you to gather the necessary amount more easily.
One more thing that is frequently of interest to our customers is the application process.since the majority of our customers is in hurry we designed our application process to be fast and secure. Everything, beginning with the application form, through signing agreement and transferring your cheap personal loan, is done via Internet. As a result it is only a matter of minutes to fill the form and a few hours until we send the money. Therefore, in the worst case scenario you will receive your instant personal loan the next business day.