Loans

Loans Like Possible Finance®: What You Need To Know

It’s not always obvious where to turn when you need quick cash. There might be a lot of different lenders and options out there, but are they safe? And are they affordable? These are the most important questions to ask when you’re shopping for a new loan or financial obligation. If you’re currently in the market for a loan, you might be considering loans like Possible Finance. If so, read on to learn more about them and how they work.

Possible Finance® is a registered trademark of Possible Financial, Inc.

Finding The Right Personal Loan

One small financial emergency can throw off an entire household budget breakdown. You worked hard, planned out all of your expenses, and then boom! You’re suddenly hit with a medical bill, vehicle repairs, or some other unexpected expense.

When these situations arise, many people choose to take out a personal loan to settle the expenses. But the loan you select, and the lender that offers it could potentially affect your finances for years to come. Therefore, it’s crucial to do plenty of research into loans and lenders before you sign on that dotted line.

One option some borrowers opt for is a small personal loan from Possible Finance.

Possible Finance: What You Need To Know

Possible Finance is an online lender offering a payday loan alternative to borrowers with bad credit. But to understand the product that Possible Finance is offering, you’ll first need to understand what unsecured personal and payday loans are.

Unsecured personal loans mean that you won’t need to offer the lender any collateral to receive the loan. Instead, these loans are given based on the borrower’s credit history, credit score, income, and overall ability to repay the loan.

Payday loans are usually unsecured. Many payday lenders don’t even care about your credit history or income. This is a red flag of a predatory lender. A credible lender will want to ensure that their borrowers can repay the loan. Payday lenders might not care as much because they tend to make a lot of money on late fees and rollover.

Rollover is when a borrower can’t repay the loan on time, so the lender extends the loan. This might sound like a good thing for the borrower, but in the long run, it’s harmful. In addition to extending the loan, the lender also adds more fees and interest. This may create a cycle of debt for the borrower that’s difficult to escape.

Possible Finance describes themselves as an alternative to risky payday loans.

How Do Possible Finance Loans Work?

Getting personal loans from Possible Finance is similar to other lenders that offer online loans. You can apply from your phone or a computer, get a decision, and receive money in your bank account through direct deposit.

The process for receiving one of these payday loan alternatives is as follows:

  • Once you apply, they review your application and financial information.
  • If your information is sufficient, they might offer you a small loan.
  • Review this loan offer very carefully, check the fees and interest rate, and then decide whether or not you’re able to repay it on time.
  • If you do accept the loan, you’ll need to sign for it. Then they will deposit your cash into your bank account.
  • Once you receive the money in your bank account, you can spend it on whatever you need. Your repayment will begin on the date they list in your loan agreement—review your loan agreement thoroughly.
  • Possible Finance offers more extended repayment than a lump-sum payday loan. Which means you’ll make smaller payments over time.
  • Once you pay the loan and fees in full, the loan agreement is fulfilled.

Who Are Possible Finance Loans For?

Possible Finance describes their loans as payday loan alternatives for the borrower with a low credit score. This means if your credit score is lower than average, you may still be approved.

Having a low credit score makes life difficult in various ways. You might not be able to get a traditional loan from banks or credit unions. This means many borrowers struggling with a low credit score turn to payday loans and other predatory financing options.

A low credit score means that the major credit bureaus see you as a risk when borrowing money.

It may mean you have too much debt, a bank account in poor standing, or that you don’t make your payments on time. Whatever the reason is, rest assured that it is possible to repair a low credit score.

If you’re one of the borrowers who typically have to rely on payday loans, Possible Finance could be a better alternative. While a payday loan has to be repaid in one lump-sum payment, Possible Finance will allow you to spread your payments out.

But if you need more money than a payday loan will offer, you may need to look elsewhere. Possible Finance only offers loans up to $500.

CreditNinja: How Does It Compare?

CreditNinja is a premier online lender offering larger, more secure, and more flexible installment loans than any payday loan you’re considering.

Our installment loans allow you to get more cash than Possible Finance and repay your loan over a longer amount of time than a typical payday loan. And the best part is that you won’t need to have a perfect credit score to be approved.

While both Possible Finance and CreditNinja are better alternatives than payday loans, you can potentially get a lot more cash with a CreditNinja installment loan. Possible Finance is designed for small-dollar loans.

CreditNinja’s Installment Loans

A personal installment loan from CreditNinja is a great option when you find yourself in a financial bind. Whether you need to pay off some bills, consolidate your credit card debt, or pay for your children’s school costs, CreditNinja is here to help.

These loans will provide you with more money than a payday loan, a longer amount of time to repay the loan, more flexible terms and conditions, and an overall lower interest rate.

If you need money in your bank account right away, and you want to repay it over time, then a CreditNinja installment loan may be right for you.

How Does CreditNinja Stand Out?

CreditNinja cares about your financial future. We want to help you get the cash you need and the favorable and flexible repayment options you deserve.

CreditNinja stands out above the rest for several reasons:
  • You can apply online in minutes and receive a decision right away.
  • If approved, your cash will be deposited right into your bank account.
  • You can still be approved even with a low credit score.
  • Spread your payments out over a longer amount of time than payday loans.
  • Unmatched customer service whenever you have questions or concerns.

Who Should Pick CreditNinja?

A CreditNinja loan is for any borrower who has a poor credit history and needs a little extra cash to handle a financial emergency.

If you typically run out of cash before your next payday, and you usually solve that problem by taking out a payday loan, then it’s time to look at your alternatives. There are a number of good reasons to take out a personal loan. If you have one, then it’s wise to check out a personal installment loan.

Don’t let payday loans drag you even deeper into debt. Instead, consider a safer, larger, more flexible personal loan from CreditNinja.

And if you’re wondering how to maintain good credit, or anything else related to personal finance, check out the rest of the CreditNinja Dojo!