Bad credit installment loans are often the only way to get quick cash to help them out in emergency and semi-emergency financial situations. There are at least three good reasons for this:

  1. Bad credit can prevent the approval of a “traditional bank loan”. Any FICO credit score below the US average of 695 for 2017, or especially below 580, can make loan approval difficult, unless it’s an online installment loan or a loan. on salary.
  2. Installment (personal) loans allow you to get the money you need the next business day and then use it as needed, without any special restrictions. Try that with a bank loan.
  3. Bad credit installment loans can be larger than payday loans and will give you more time to repay.

How to find the best installment loans for bad credit

You can easily do a Google search and see pages of online installment loans for bad credit applicants. But how can one search through all these options and examine them one by one? That would take far too long to be a practical approach.

But use a site like Bonsai Finance, and they’ll let you quickly enter some basic personal and financial information along with your basic loan preferences and search through hundreds of options efficiently.

Bonsai’s approach quickly narrows the options down to the best or a handful, then lets you break out of that “short list” for further comparison until you identify your best possible online installment loan.

And the experts at Bonsai Finance know the industry and the companies they deal with well. They don’t just glance at search engine results, but read those results against their prior knowledge to make the resulting information as useful as possible.

What Factors Are Most Important With Bad Credit Installment Loans

When looking for an installment loan online, what factors are most important in making your decision? Here are some answers to this question:

  • Principal of the loan. Unless you can borrow enough to cover your needs, lending will become an exercise in futility. It is therefore essential to connect with a lender who allows you to withdraw enough.
  • Cash delivery. Then you need a lender who will deposit the money into your account quickly, within a business day or two. Timing is often crucial with installment loans.
  • Interest Rates and Fees. All things being equal, you want the loan with the lowest total interest and fees. Bonsai can help you calculate this accurately.
  • Repayment plan. The monthly payments must be affordable according to your income and the total repayment period reasonable.
  • No credit check. A credit check could harm already damaged credit, so look for a lender without a credit check if possible.

Bonsai Finance can help you quickly locate, apply for, and get approved for your best loan deal.

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