Personal loans are a type of flexible loan. They usually come with short to medium repayment lengths that last a matter of weeks or months rather than years.
Because these are a smaller, shorter, and more flexible type of loan, they often provide a quicker funding option for borrowers who need money fast.
Personal loans can also be used for many purposes. Borrowers can use them to consolidate debt, start a small business, pay bills, or get your car fixed.
Loans that come with a specific purpose will most often pay the loan sum accordingly rather than sending the money directly to you. When you take out a car loan it goes right to the car dealership, because that money only has one purpose.
This loan type is more flexible because borrowers receive those funds directly and can spend the money how they choose. They also come with a quick and easy application process:
First, visit your local Check City store or go to Check City online to fill out an application.
Check City loan representatives will review the application.
If the application is accepted, you can pick up your personal loan in cash at a Check City store or have the funds direct deposited into your bank account.
Borrowers receive their personal loans in one lump sum and then pay back the loan in smaller increments over time. That way you can have the cash amount you need upfront rather than having to wait to save over long periods of time.
As with any financial product certain qualifications need to be met by each applicant. One of the perks of this loan type is that there are often fewer requirements because they are a smaller, short-term loan type. Still, there are a few items and qualifications you will need as a loan applicant.
The first thing you'll need is a government-issued form of identification. The lender needs this in order to verify who you are. A few examples of acceptable forms of ID are driver's licenses, state IDs, or passports.
Loan applicants who want to use direct deposit will need to have an open and active bank account that allows direct deposit transactions. Without this, there would be no way for the borrower to receive their loan funds.
Lenders will need to see proof that you have an available bank account for direct deposit. You can show you have a bank account with a bank statement, a blank check, or an online bank statement.
You can't receive your funds through direct deposit if you don't have direct deposit enabled on an available bank account. To prove you have direct deposit, bring a bank or online bank statement into the store when you apply.
Lenders need to verify that borrowers can afford the loan they are taking out. You can prove that you have a source of income to make loan payments with pay stubs, job offer letters, or a bank statement showing the direct deposits from your paychecks.
Lenders would be remiss if they did not make sure they can get a hold of their customers. Many loan applications will ask for basic customer contact information like your phone number, email address, and mailing address.
The great thing about personal loans is that they can be used for almost anything! You get to decide how to use your funds because you receive the money directly.
Get all your bills paid on time and in full by taking out a small, short-term loan. Being late on bill payments, utilities, or rent can be detrimental to your credit score and overall finances.
Not only will your credit score go down but you'll also have to pay high late fees. But if you just take out a small loan instead, you can pay everything on time and completely avoid the hassle of fees.
Car problems never happen when it's convenient. When car problems do arise, you need to be able to fix your car so you can keep driving. After all, we depend on our vehicles to run important errands and get to and from work.
Not everyone can afford to have an emergency car fund set aside. That's where easy small-term loans come in. A small convenient loan can give you the cash you need to get your car fixed so you can keep driving.
Do you have a lot of high-interest debt? Multiple forms of debt with multiple high-interest rates can quickly add up to an overwhelming degree. That's why many people elect to consolidate different debts into one loan with one interest rate.
1099 employees, self-employed workers, entrepreneurs, and small business owners need funds to successfully do their work and run their businesses.
Maybe you work from home and need help purchasing a computer or office supplies. Or maybe you have your own business but need some help paying for materials.
Don't let your business falter or slow down for a second. Take out a small, affordable loan and pay whatever you and your business need to keep working and be successful.
While it's true that shopping can be a fun and luxurious pastime, sometimes shopping is essential too. If an item you're shopping for is essential to your professional or personal life then it may be worth getting a small loan to help you make that purchase.
For example, maybe you're moving to a new place and need help paying for basic household furniture. Or maybe your lawn is overgrown and you could really use a new lawnmower.
Purchases like these easily fall under the category of essential items rather than luxury items and are worth a small, short-term loan if you need help getting these items now.
Sales don't come every day. Some sales only come once a year! When a really good sale comes along for items you know you need, it might be necessary to consider a small loan so you can get the items on sale and save money in the long run.
A secured loan is a loan that has some other form of security to help back up the loan. For instance, car title loans are a secure loan that uses the title of a vehicle to help secure the loan funds. That way, the lender can have a form of security in case the borrower can't pay the loan back.
An unsecured loan doesn't have a form of security attached to the loan. That's why unsecured loans often have higher interest rates and fees to help make up for the added risk the lender is taking.
Check City offers loans that are both convenient and affordable. Personal loans at Check City also offer a lower APR than Check City's payday loans.
The application is quick and there's no origination fee. All that's standing in your way is a few minutes of your time to visit a store or fill out an online application.
Loans don't have to be a big hassle and they don't have to be expensive with repayment periods that seem to last forever. By choosing a personal loan you can enjoy greater loan flexibility along with easier to manage loan terms.
Payday Loans are also commonly referred to as Cash Advances, Payday Advances, Payday Advance Loans, and Fast Cash Loans. Check City does not usually utilize traditional credit checks as part of the payday loan approval process. However, Check City may, at its discretion, verify application information by using national consumer loan underwriting databases that may include information relating to previous cash advance transactions that Check City may take into consideration in the approval process. Actual loan amounts vary. See Rates and Fees for specific information and requirements. Products or services offered to customers may vary based on customer eligibility and applicable state or federal law. Some customers applying for payday loans or installment loans may be required to submit additional documentation due to state law and qualification criteria. CheckCity.com provides loan services in: Alabama, Alaska, California, Hawaii, Idaho, Kansas, Missouri, Nevada, Texas, Utah, Washington, Wisconsin, and Wyoming. Customer Notice: A single payday advance is typically for two to four weeks. However, borrowers often use these loans over a period of months, which can be expensive. Payday advances are not recommended as long-term financial solutions. Loan proceeds issued through our website are generally deposited via ACH for next business day delivery if approved by 8pm CT Mon. – Fri.
Check City acts as a credit services organization/credit access business (CSO/CAB) in Texas.
This is an invitation to send a loan application, not an offer to make a short term loan. This service does not constitute an offer or solicitation for payday loans in Arizona, Arkansas, Colorado, Georgia, Maryland, Massachusetts, New York, Pennsylvania, or West Virginia. Tosh of Utah, Inc. dba Check City Check Cashing, a payday lender, is licensed by the Virginia State Corporation Commission. License #PL-57 Anykind Check Cashing, LC. dba Check City, a payday lender, is licensed by the Virginia State Corporation Commission. License #PL-21 Maximum funded amount for payday loans or installment loans depends on qualification criteria and state law. See Rates and Terms for details. Utah Customers: For consumer questions or complaints regarding payday loans and/or title loans you may contact our Customer Service Department toll-free at (866) 258-4672. You may also contact our regulator The Utah Department of Financial Institutions at (801) 538-8830.
Please see Rates and Terms to check the availability of online loans in your state. Check City does not provide loan services in all states.