An online installment loan is a great financial product, but is it right for you? Different loans suit different people and their particular needs.
Let’s take a look at the product and why FlexMoney is your best choice if you want to borrow.
You Haven’t Been at Your Job for Years
Unfortunately, most lenders including the big banks won’t even look at a loan application unless you have been at your job for at least a year and sometimes much longer.
FlexMoney’s online installment loan only requires active work with the same employer for at least three months.
You Don’t Earn Buckets of Money
Most lenders want you to earn a substantial wage before they’ll consider you for a loan. They can also base your entire application on a comparison between what you make and what you owe.
FlexMoney’s online installment loan only requires a minimum income of $2,000 per month. They don’t base your entire application on your debt-to-income ratio either. Instead, they look at your entire financial profile.
Your Bank Turned You Down
Banks have very exacting requirements and it’s no surprise that many people are turned down for loans. If you have just one small incident on your credit file that could be all it takes.
FlexMoney’s online installment loan doesn’t rely as heavily on your credit file. Instead, they access your application based on many factors. You could qualify, even if you were turned by your bank.
You Don’t Have Time to Visit a Lender
Who wants to bother with making an appointment and driving to an office just to fill out a loan application? What about if they want you to come back again to drop off paperwork?
FlexMoney’s online installment loan is simple. You never need to make an appointment, take time off work, or visit an office. Just fill out the quick form from the convenience of your computer, laptop, cellphone, or tablet. If you’re approved, even your loan documents are provided online and you can sign them digitally too.
You Don’t Have a Perfect Credit Score
FlexMoney differs from many other lenders as it does not have a minimum credit score requirement. Their online installment loan uses an artificial intelligence scoring system for a fully-informed decision.
This “smart” system may overlook a past indiscretion if other aspects of your application and credit history show strength. However, it won’t approve your application if you filed for bankruptcy within the past seven years.
You Don’t Want to Dig Up Financials
Who has the time to dig up old pay stubs or get an income statement? That’s what most lenders want and that takes time and can cost you money too. What’s even worse is that you may not know for some time whether you’re approved, even after going to all this trouble.
Instead, the FlexMoney online installment loan process checks your financial situation very quickly without proof of income. Their system confirms your personal information and you save time and effort.
You Don’t Want to Spend Hours Shopping for the Best Rates
There are plenty of lenders online, but why waste your valuable time? Most online installment loans start around 19.99%, but can be as high as 46.93%.
FlexMoney’s online installment loan rates start at 18.9%, which is lower than most other lenders and lower the average interest rate on most credit cards. Each application is reviewed case-by-case and you’ll receive the best possible rate based on your application. If you don’t like the interest rate offered, you’re welcome to shop around.
You Don’t Want to Pay Fees
Did you know that many lenders charge their customers a fee just to set up their account? They call it an “origination fee” and it can cost you between 0.5 – 8% of your total loan cost which can add up to a lot.
Many lenders also charge you a penalty if you want to pay extra payments or pay off your loan early. A FlexMoney online installment loan has no hidden fees and no penalties. You’ll only pay your payments and not a cent more.
You Don’t Want to Explain Why
Many lenders want to know how you will use your loan money. The question is why is this their business? As long as you meet the loan requirements, you shouldn’t have to explain why you’re borrowing money.
Luckily, you can use a FlexMoney online installment loan for whatever you please. Consolidate debts, improve your credit score, buy a car, boat, RV, or ATV, fix up your home, or pay for a move, wedding, funeral, or medical procedure. It’s your choice.
You Need Money Fast
Countless lenders claim to offer a “quick” or “fast” online installment loan, but when you read the fine print their timeline is far from speedy. Many take between three and five days. That’s just not quick enough when you’ve found a great deal or you don’t want to delay your plans.
Luckily, the funds from a FlexMoney online installment loan can usually be in your bank account within 24 hours of approval. A FlexMoney online installment loan is available for amounts between $500 and $15,000.
You Want to Know Exactly What You’ll Pay
Lenders that tack on extra fees make it hard to know precisely what you’ll pay. It should just be a matter of adding on the interest based on your rate and dividing this by the number of payments.
Alternatively, a FlexMoney online installment loan makes it easy to manage your payments. You decide how much you want to borrow and how long you want to take to pay the installment loan back.
If you want pay down your debt quickly you can choose higher payments over a shorter time. If you want smaller payments, you can spread them over a longer period.
Once your loan’s approved you’ll know the exact amount, payment date, and when you will finish paying off your loan. It’s predictable and easy to include in your monthly budget.
You Want to Improve Your Credit
Racking up bills on a credit card makes it very hard to keep up with your payments. The interest rate on most credit cards start at 19.99%, but you could easily pay more. The interest on credit cards accumulates on the unpaid balance making it almost impossible to reduce it, even when you’re making payments.
Luckily, repaying a FlexMoney online installment loan on time can improve your credit score. Every payment made comes off your outstanding balance. Once you’ve paid it off, you could also enjoy a lower interest rate the next time you borrow.
You Want to Know Exactly When You’ll Be Debt-Free
If you’re juggling many debts, it can take a toll. You pay one bill and then another one pops up. It can also be very time-consuming, because you need to keep on top of multiple bills.
Obviously, this can be very stressful. Plus, it isn’t the best way to deal you’re your debt. Instead, a FlexMoney online installment loan can consolidate all those debts into a single payment. You’ll say goodbye to all those pesky bills and you’ll rest much easier.
A FlexMoney online installment loan provides you with the precise amount you will pay each month and the exact end date and repayment terms of between six months and five years.
Choose the loan that suits your financial and life goals, instead of adapting your life to suit what other lenders offer. Plan for a debt-free end date, or even pay your online installment loan early and celebrate.
You Want Top-Notch Customer Service
Most lenders are more than eager to lend you money, but what happens if you have questions or need assistance? Do they offer a 1-800 number, email, and online support?
What about their paperwork? Is it straightforward and transparent, or riddled with fine print even a lawyer would have trouble deciphering?
FlexMoney prides itself on their customer service, transparency, and speed. When you apply for a FlexMoney online installment loan, you’ll hear back from them very quickly. If you’re pre-approved, you can easily complete the process online too.
FlexMoney’s online installment loan documents are sent electronically and you can review them at your leisure. If you have questions or concerns, they’re easy to reach and can answer your questions. If you agree with the interest rate and the terms, just sign the loan documents digitally and your loan money will be in your bank account within 24 hours.
FlexMoney lends throughout Canada and offers telephone, email, and online support. Their online installment loan process is simple and straightforward and their customer service agents are personable and relatable.
Find Out More About An Online Installment Loan
Why struggle with appointments, financial statements, and frustration when it can all be so easy?
Finding the ideal online installment loan only takes a few minutes, so why wait? If you’re interested in exploring an online installment loan, visit Flexmoney’s website to start the application process or answer questions.