Fast Cash: The Hows and Whys of Getting Your Money Quickly and Safely

While the Internet makes it really easy to get a quick loan, it’s still critical to do your research and find the best loan for you. Here’s why…

Getting a loan used to take forever. People would have to physically go to the bank, sign a bunch of forms, go home and wait to be approved—then go back to the bank and fill out a whole new set of forms to actually apply for the loan. Today’s banks and other traditional lending institutions still pretty much work like this.

But this is 2016! There’s this little thing called the Internet that you’re probably familiar with — unless of course someone printed out this blog post and handed it to you. And the great thing about the Internet is that it makes everything go faster. Want to buy an album? It’s downloaded. Want to watch a movie? You can stream it. Want to know literally everything about anything so long as you’re willing to accept an extremely high margin of error? Well, Wikipedia is just a click away.

The Internet has revolutionized lending too. There are lots of lenders — us included — that don’t have traditional storefronts and do all of our business online and by phone. And advances in financial algorithms and processing power allow for all kinds of lenders to make complex risk-analysis calculations in mere milliseconds. It has never been easier to get fast cash than it is right now. The Internet hath made it so.

But there’s still one thing that should always be done slowly, deliberately and carefully: and that is deciding what type of loan to get.

Some good advice when shopping for a loan is the same kind of advice you get when you’re looking to buy a house or a car: shop around. Don’t just automatically accept the first loan you’re approved for. Many loans that seem like a perfect fit at first glance can turn out to be not-so-great upon closer inspection. Payday and car title loans seem at first glance like they are an easy way to get fast cash, but anything longer than a glance will show high APRs, short payment terms and ugly consequences for those who can’t repay.

Taking your time and slowing things down will help you avoid predatory lenders. So make sure you do dig around and gather all the data you can. Find out the interest rate, the APR, the monthly payment amount, the associated fees and the length of the term. Look at your own finances and find out what your budget can handle. Sure, a payday loan only has to be paid back once instead of once a month—but are you sure that you’ll be able to pay it off on time? It’s more likely that a loan that spreads the payments over six months is going to be a better fit. Do the research, do the math and do the work to make sure that you’re getting the loan that works best for you.

Fast cash is great, but choosing cash that’s fast over cash that is safe, reliable and credit-building is not. And funnily enough, “safe”, “reliable”, and “credit-building” are three qualities that all describe a personal installment loan from OppLoans. To apply now, click below. (If you are reading this on a printed sheet of paper, you can ask whoever printed it out for you to go to the OppLoans website on your behalf. Or introduce you to the Internet. Seriously, it’s 2016.)

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