Life is extremely hard for people who are desperately looking for financial solutions especially when they have low credit scores. As far as they are concerned, the most difficult part is not just about their current credit scores, it is about finding the right non-bank lender who offers affordable bad credit personal loan deals to bad credit applicants. Adding to the confusion, many are still perplexed when they are deciding which suitable lender to choose –BBB or non-BBB accredited non-bank lender?
By right, there is no need to create a buzz about this problem as it really does not matter which type of non-bank lender that you choose, as long as they have good BBB rating and clean business history and record. Here’s how you basically look for the best personal loan deal by following these steps as follows:
- Selectively look for non-bank lenders who have received an “A” BBB rating
- Seek personal loans from reputable credit unions first – If it’s no avail, and then consider those non-BBB accredited non-bank lenders
- Aim for the right loan product – i.e. loan which offers low interest rate and affordable monthly loan repayment plan
Here are a few lists of reputable BBB and non-BBB Accredited non-bank lenders as follows:
1. BBB Accredited Non-Bank Lenders:
If you are working in a company which is a member of a credit union – you, an employee, and also a member of a credit union, you can start inquiring the credit union about the personal loan packages that they offer for their members. Generally, they would look through your credit record and the rate of the personal loan is based on credit worthiness.
For instance, if you are a member of Premier America Credit Union, this particular credit union offers personal loan which amounted between $500 to $25,000 and the actual rate may increase based on credit worthiness. It has also a slight interest rate reduction for automatic payment with direct deposit. Besides that, such loan has low fixed rate on its monthly loan repayments.
Some credit unions offer personal loans for non-members, like Credit Union 1 – You can contact them for inquiries about their lending service as you will be directed to one of their lending professionals. They are offering two types of personal loans for both members and non-members – unsecured and secured personal loans.
Apart from that, American General Financial Services (AGFinance.com) – this particular online lender is actively providing consumer loans to the public for more than 20 years. For people who opt for personal loans, it is not necessary for the borrowers to pledge their real properties because this non-bank lender accepts jewelries and electronics as collaterals.
2. Non-BBB Accredited Non-Bank Lenders:
E-Loan is dedicated in providing different types of financial solutions for people who are facing financial problems. This loan provider which is based in Orlando, Florida, has received numerous awards and recognition including Top 20 Most Trusted Companies for Privacy, Best Customer Respect Award and Top 20 Safest Places on the Web in United States. It is also well-known in providing the best online experience for the borrowers.
Other than that, Money Now USA (MoneyNowUSA.com) claimed that they provide approximately 90 seconds application processing time and approving bad credit personal loans to successful applicants less than 1 hour. If you are applying for a larger loan amount – for example, loan amount more than $1,000; you would likely need to apply more than once. Please take note that this loan lending service is not applicable for applicants from Arizona, Georgia, Virginia and West Virginia.
If you are eligible for a bad credit personal loan, you need to be dedicated in repaying such loan as agreed.