Is your credit rating bad?
If your credit score is bad, getting a loan from the major lenders will not be as simple as you think. As the lenders are taking great measures to avoid loan defaults, they go through the profile of the borrower thoroughly. Hence, the chances of getting a bank loan when you have an average credit score is only minimal. Fortunately, there are plenty of lending places out there who are ready to provide financial help to the bad credit borrowers. These are the sub-prime lenders and they are ready to take higher risks than most lenders. If you wish to get the quickest loan, you got to turn to the private lending places. These private lenders guarantee a very quick loan approval and more importantly, the loan approval rate is quite high as well. Saying that these loans do not have a downside would be a big lie. As you might know, the annual percentage rate will not be as low as you would want it.
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Getting a very reasonable and affordable interest rate:
As i said earlier, the loan approval rate is very high in the private lending institutions. But that does not mean you will not face any problems while getting a loan. Remember that you might probably be required to do negotiation with the lender so as to get the APR down to an affordable value. Even if your credit history is something that is not worth showing to the lender, you can show off your job longevity to make a fruitful negotiation.
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