With a population of approximately 88,000 residents, St. George is the eighth-largest city in Utah. Due to its numerous golf courses, it’s been named “The Palm Springs of Utah,” and it’s close to a few national parks, which has made the city an attractive place to spend a weekend or enjoy a summer vacation.
Located near the Arizona border, St. George is two hours from Las Vegas and almost five hours from the state’s capital, Salt Lake City. The local gross domestic product (GDP) is around $5 billion, and it’s home to almost 28,000 households.
St. George’s tourism, retail, and transportation industries contribute greatly to its economy, and the city serves as the headquarters of SkyWest Airlines, a company that employs over 14,000 professionals and provides air transportation to over 260 different destinations. Additionally, Sunroc Corporation, a large construction material business, is also based in the city.
These companies are two of the largest employers in the area. In total, St. George’s workforce comprises nearly 33,000 active employees, and the city’s median household income is approximately $54,000.
If you’re a resident of St. George and in need of a financial boost for a wide variety of reasons, a personal loan may potentially be a great option. CreditNinja is proud to serve St. George’s workers and households with a wide range of personal loans. Read on to find out everything you need to know about our application process and the specific details of our services.
What are personal loans?
Personal loans are designed to help individuals who are looking for short-term funding to fulfill almost any kind of financial need, such as an unexpected bill or an urgent car repair. Licensed financial institutions as well as non-traditional lenders typically offer these loans, and the cost of borrowing one is usually described as the loan’s APR (annual percentage rate).
Lenders are legally required to disclose the APR of their loans, and this metric can sometimes differ from the loan’s nominal interest rate as it includes the impact of other fees collected by the lender. Some of the most common fees include:
- Origination fees: These fees, which are collected upfront, are usually calculated as a percentage of the amount borrowed, and they are usually deducted directly from the amount deposited to the borrower; or, in some cases, they can be added to the loan amount to be subsequently paid through the upcoming installments.
- Prepayment penalties: Some lenders may charge a fee to borrowers who pay the loan back in full (or partially) before its due date.
- Late payment fees: If a borrower fails to pay back an installment before it is due, lenders usually collect a late fee that is either added to the loan’s outstanding balance or deducted from the borrower’s bank account once it has enough funds.
Personal loans can be employed by individuals for many different purposes. Some lenders don’t require that the borrower discloses the potential purpose of the funds received through the loan, and, therefore, they can be used for virtually anything. Some borrowers use personal loans to pay for pending bills, to cover their basic living expenses while the next paycheck arrives, to cover a medical bill, or to simply fulfill a gap in their budget.
Lenders usually offer different types of personal loans, like balance transfer loans, for different financial needs. These loans can either be secured (requires collateral) or unsecured (no collateral), and they can be used for things such as debt consolidation or balance transfers.
Personal Loan Benefits
Some of the benefits of a personal loan are:
Flexible credit terms: Depending on the type of loan, lenders may be willing to offer borrowers extended credit periods that may range from a few weeks to 48 months.
No collateral for unsecured loans: Unsecured personal loans allow the borrower to take out a loan without having to commit any collateral.
A good alternative for people with challenging credit situations: Personal loans extended by non-traditional lenders are usually less strict in their selection criteria, specifically regarding credit score. In fact, some lenders offer bad credit loans, such as payday loans and cash advances, to help individuals who are unlikely to get approved for a personal loan from traditional financial institutions.
Budget-conscious interest rates: The APRs associated with personal loans, and the fact that the payment period is usually short, makes them an affordable alternative for those looking for fast short-term funding.
Why Should You Choose CreditNinja?
Applying for a personal loan through CreditNinja is simple and easy, and here are some of the main benefits of our services:
- You can complete our online application process from anywhere—even from your smartphone.
- Your information is safe with us; our systems use advanced encryption technology to prevent unauthorized access.
- You will receive a decision within 24 hours of submitting your application.
- If you are approved for one of our personal loans, the funds will be deposited into your bank account within the next business day.*
- CreditNinja offers different types of personal loans that may fit a wide range of financial needs.
- We offer unsecured personal loans in case you want to access funds without involving collateral.
- The repayment schedule is fully explained in our personal loan contract.
- You can always reach out to our Customer Care Team if you have any questions.
- We offer bad credit loans if you are going through a difficult financial situation that may have affected your credit.
- Our criteria to approve personal loans is less strict than most traditional lenders as we don’t require that you have an excellent credit score or a perfect payment history.
- We analyze each application individually to suggest the best type of personal loans for each candidate.
If you are currently looking to take out a personal loan, you can start your application today. If you are not sure what type of personal loan may be suitable for your current financial situation, our Customer Care Team is here to assist you.