Freelancing is a fun and profitable journey, but only if you have the ample resources to begin with. Aside from equipment, the main resource that you’ll need is money. You can try using your savings account or a fund borrowed from friends and relatives. What if you can’t rely on those sources currently? The next solution is to take out a loan.
If you think lenders are strict and won’t just lend their money away, you are right. But there are some easy loans that you can apply for. Here are some loans worth your time:
Guaranteed Cash Loan
Guaranteed cash loans are, in a way, totally guaranteed. Whenever you’re applying for a loan, there’s always a fair chance that you will be denied. Your credit score, financial decisions, documents, income, and reasons will affect your application. For a guaranteed cash loan, these factors are nil. As long as you promise to pay and you present at least one government document, you’re good. The downside of a guaranteed cash loan is its high interest. If you’re not careful, you’d end up paying more than 150% your principal. Guaranteed cash loans can also be treated as payday loans, though this is not always the case.
Online Personal Loan
The rise of online lenders gave way to the abundance of online personal loans. These loans are similar to bank-issued personal loans except that they are transacted online. The approval rate is also higher because online lenders are not that strict. Since there are hundreds of online lenders competing in the market today, you have to shop around for the best deal. Don’t pick the first one that will appear in Google.
Bad Credit Loan
Don’t be discouraged by bad credit loans. They are not necessarily bad, but they’re meant to help you financially even if your credit score is not good enough. You probably know that banks and lenders only trust people with high credit rating. With a bad credit loan, you can bypass this system. Nowadays, many online lenders are offering this type of loan. Since your credit score won’t be taken into account, prepare for high interests and short term periods. This is the way bad credit loan lenders manage risk. Shop around for low-interest bad credit loans so you won’t have regrets later on.
Remember that every loan is a responsibility. Do your best to repay your loan on time so you won’t have to pay for penalties and other charges.