Instant Flex Loans Online
Imagine a situation wherein you have to travel to another place suddenly. The situation is unavoidable, such as going to see family or friend who needs you. You know that this journey can throw you in a financial lurch but a loved one needs you. Money is important, very important indeed but what makes our life even richer is meaningful relationships. Therefore, you will certainly go, but what do you do when you come back and are unable to pay your rent or make any other essential expense?
An unexpected situation can set you back financially, in ways that it can be difficult to recover without the help of a loan. A sudden illness, a vehicle breakdown, or even an unanticipated travel for an important reason can disturb your budget. In order to take a loan, one needs to have a good credit score. But it can be difficult to have a good credit if you have never had any credit-related transactions before, or if you have been careless with credit card repayments.
In the absence of any savings to fall back on and a good credit score to able to avail a traditional loan, most people take the help of payday lenders. These lenders provide a short-term instant loan called payday loans. A payday loan is a short-term loan and instant loan, often for small amounts like $500 or less, which is generally due on one’s next payday. The cost of the loan may range from $10 to $30 for every $100 borrowed. The rates of interest are invariably high for all payday loans. For instance, a two-week payday loan with a $15 fee per $100 borrowed equates to an annual percentage rate (APR) of almost 400 percent. The total principal and the loan fee is required to be paid back at the end of the loan term. Most borrowers are unable to do so and that causes the loan to roll over into a new loan with a new loan fee. This is why the Consumer Financial Protection Bureau has been attempting to discourage people from taking out a payday loan. The question that arises now is that what is the solution if not payday loans. Yes, payday loans are popular and at many occasions, they have been the last resort for people in need of money. But let us not ignore those times when people have been trapped in unending cycle of debts due to high rates of payday loans. The alternative is provided by Advance Financial in the form of Flex Loans Online.
What are Flex Loans Online?
Flex Loans are unique because unlike a Payday Loan or an Installment Loan, a Flex Loan Online presents to you the convenience of applying just once and withdraw cash at any time, within your credit limit. Moreover, a Flex Loan Online can be paid back at your own pace, with conveniently scheduled payments, or installments, aligned with your payday. This is a major shortcoming of payday loans wherein if a loan isn’t paid back at the end of the term, a new loan fee is applied because the loan then rolls over into a new one. Flex Loans Online do not follow that logic because they are an open-ended line of credit. The amount that can be borrowed in the form of Flex Loans Online falls anywhere between $25 and $4,000.
How Can You Avail Flex Loans Online?
A customer who wishes to avail a Flex Loan must be at least 18 years of age and have a verifiable source of income. Credit score isn’t an essential criterion but a stable source of income is. If you fall in this category of individuals, you can log on to the Advance Financial website and apply for a flex loan online.
A Flex Loan is a great alternative for payday loans because it is much cheaper than the latter. Also, there are no hidden terms of the agreement in case of Advance Financial Flex Loans, therefore, you are always aware of what you are getting yourself into. The loan cost is certainly higher because these are unsecured loans, but Flex Loans are an exceptional way to get yourself out of a financial problem.