There are often situations when money is urgently needed, but there is no one to borrow it. The amounts can be different, as well as the goals – someone needs to pay for utilities, others do not have enough funds to buy a new car or household appliances.
Contacting a bank does not always help to solve a financial problem since there are many requirements for borrowers: proof of income, collateral, a surety. In all cases, the bank requires you to indicate the purpose of obtaining a loan. For example, no financial institution will lend you money to pay off a debt. If the bank is satisfied with the purpose of the loan, and the borrower is ready to confirm exactly how he or she will dispose of the money, there is a chance to get a loan. But you should bear in mind that the preparation of the necessary documents takes quite a long time, and if money is needed urgently, contacting the bank will not solve the problem. But microfinance organizations from our extensive network are able to help as they are ready to issue a loan for any purpose. It usually takes a few hours from the moment the application is made until the money is received.
Online installment loans – easy and fast solution
You can use our website to apply for an online installment loan for any purpose. First, you need to fill out a short questionnaire and submit it online. The lender’s decision is immediate. If the decision is positive, then all that remains is to get the money transferred to your bank account.
In terms of time, the whole process takes no more than a few hours – the application is considered within a few minutes. Some delays may be associated with the receipt of funds on your bank account, but this largely depends on the banking system. There are very few cases of loan rejections. Even people with bad credit history have the opportunity to get accepted for an installment loan and not report on how the money will be spent.
Who can apply for installment loans online in Michigan?
There are not many requirements for those who want to apply for installment loans via our referral service. You need to be an adult citizen/permanent resident of the USA, as well as some kind of identity verification. You also need to have:
- a valid bank account in your name;
- an active phone number and email address.
Usually, an installment loan for any purpose is issued to people aged at least 18. But some organizations in Michigan may introduce additional requirements or restrictions for borrowers – some of them work with clients over 19 years old, others do not issue loans to retirees. In any case, using our website, it is always possible to choose the lender that meets the client’s requirements.
Where can I get the best online installment loan?
Although the terms of lending in microfinance institutions are less favorable than in a bank, in some cases, clients choose microfinance companies. Our online loan referral service has made a wide network of trusted US lenders that issue loans to people via the Internet, without visiting the lender’s office.
To borrow money quickly, follow the simple instructions:
- Fill out an application online on our website;
- Get matched with the right lender;
- Wait for the lender’s decision – it takes a few minutes;
- E-sign the loan agreement and get the money.
We partner with the best lenders that issue installment loans remotely.
Loan conditions in Michigan: things you need to know
Of course, interest rates on loans in banks are more attractive, but banks have a lot of disadvantages: tough eligibility criteria, the need to provide surety and collateral. Loans in microfinance organizations are more expensive, but the requirements for borrowers are very loyal. Managers will not be interested in your income and social status – loans are approved to pensioners, students, housewives, the unemployed, disabled people, etc. The main condition is to repay the debt on time. Even if your credit score is low, you can still get a loan for any purpose.
Usually, microfinance organizations offer to borrow $100-$1,000, without being interested in exactly how you are going to spend the money. The loan term usually does not exceed 30 days. An important nuance: if you are a first-time borrower, you may not be eligible for the maximum loan amount. But repeat applicants can be accepted for the maximum loan amount.
What data do you need to provide when applying for a loan?
When filling out a loan application on our website, you should be ready to provide some information about yourself. Be sure to specify:
- personal, contact and identity data;
- information about education;
- home address;
- data on employment;
- financial information (income, monthly expenses, existing loans);
- the desired amount and term of the loan, etc.
In some applications, you will also need to indicate the name and phone number of persons who can confirm your identity, your solvency and decency. These can be friends, relatives, colleagues, just acquaintances.
All data in the application must be correct, make sure that there are no typos.
Features and benefits of getting installment loans via our referral service
When you apply for a loan online, you don’t need to go anywhere. The client can submit an application and get the money from anywhere. To get a loan, you will need a valid bank account, which has several requirements:
- a bank account must be opened in your name;
- it must be active and have a positive balance;
- the issuing bank can be any banking institution in the USA.
If you are accepted for a loan, the money will be transferred to your bank account within a few hours.
If you do not have a bank account, you cannot apply for an installment loan online in Michigan via our referral service.