When you consider the current state of the economy — everything from rising inflation to some of the hardest job losses in recent history — there’s little wonder why someone would need a small dollar loan to get by. Despite the stigma attached to this particular financial product, it’s estimated that nearly 15 million Americans use them every year and many of them live in your very own state of Texas. If you find yourself joining their ranks, it’s important that you don’t pick just any loan. You should consider the road ahead before you lock yourself into terms and conditions — the health of your finances depends on it.
A large majority of small dollar loans available in Texas are limited by short repayment terms. Due by the time the borrower receives their next paycheck, it’s a truncated amount of time to repay the lent amount. For those who are financially compromised, the two to four weeks until payday may not be enough time to generate the money needed. As a result, the average payday loan simply isn’t a financially responsible choice.
Luckily, there are alternatives to these short term products. In the state of Texas, you can find flexible instalment loans that increase the repayment terms to as many as 4 months. This particular financial product can be secured through a reliable Credit Access Business (CAB), such as MoneyKey – TX, Inc. They, like any other CAB, have received authorization from the Office of the Consumer Credit Commissioner to act as a broker for financial products. As a Credit Services Organization certified by the State of Texas, they’re licensed to arrange and service products originating from third-party lenders.
Their service provide a reasonable solution for those who are unable to follow restrictive payment plans that fall over one pay period. Depending on how you qualify, you may follow a schedule of 7 bi-weekly payments, or your repayment may be equally divided over 4 monthly payments. To make sure this instalment loan is an appropriate addition to your financial situation, contact one of the many licensed CABs in Texas. You can speak with a specialist at MoneyKey to learn more about this product and discover what kind of repayment schedule you can expect. Or you can read up on the details of their financial products by checking out Moneykey.com/online-installment-loans-texas.php before you apply.
A CAB makes it convenient for you to do so, as they’ve streamlined the entire process. You won’t even have to leave your house in order to submit your application, making it incredibly easy to get the money that you need. You can apply directly from their webpage after having read up on their rates, terms, and conditions, and you’ll know if you qualify instantly. Once your information is verified by a specialist, and your application is approved, you can receive your money by the next business day.
A small dollar loan, as a convenient and speedy source for cash, can help manage your finances and pay your bills on time. Just make sure you don’t get stuck with a short repayment term you can’t follow. Speak with a Credit Access Business to secure a financial product that gives you bit more breathing room when it comes to paying it back, and your fast access to cash will be a responsible addition to your finances.