In Wisconsin, consumers review a variety of loan products to meet their current financial needs. The products could assist consumers with less than stellar credit with fast funding. A local lender could provide consumers with more details about current loan products.
What are Payday Loans?
Payday loans are a lending option that is based on the consumer’s most recent paycheck. The loan value won’t exceed the total gross value presented on the paystub. The products are paid off on the next scheduled payday. The maturity date of the payday loan depends on how often the consumer is paid. The interest fees and finance charges are applied to the requested loan value to determine the highest value available to the consumer.
What are Advance Loans?
Advance loans are provided to applicants who need money fast. The applicants are typically individuals who are on a fixed income. Consumers who receive monthly benefits through a retirement plan, social security, or disability benefits could secure the loans quickly. The total value of the loan is below the monthly funds received by the applicant.
What is an Installment Loan?
An installment loan is available for consumers who request larger loans. The consumer pays monthly payments until the loan is paid off completely. Typically, the lender provides the loan products on a six-month installment plan. The exact fees for each installment are explained when the consumer signs the loan contract. The consumer could choose a loan product with fewer monthly installments if they prefer. The products don’t impose any penalties for paying off the loan earlier.
Cash Loans and Personal Loans
Cash and personal loans are provided to consumers according to their credit rating. The lender must conduct a credit assessment for the loans and determine affordability for the products. The loans could provide up to $2,000 for consumers who are frequent customers.
In Wisconsin, short-term loans provide fast funding when customers need them. The financing options could provide funds between pay periods that allow consumers to pay their expenses. Consumers who want to learn more about the short-term lending options can contact Blue Trust Loans right now.