Has the pandemic hurt you so badly that it has also hurt your finances and income? Has it affected you and your family? I think the answer is yes since nearly one hundred percent if not the entire population has suffered from the pandemic.
Most people lost their jobs, and many were infected and eventually died. Everyone is aware that the economy has fluctuated. Businesses failed. And everyone has been financially exhausted since the start of the pandemic. Therefore, people struggle to find ways to earn money for survival. Thus, victims of this misfortune are justified in getting loans just to get by.
One type of loan is the personal loan. These are just your ordinary loans. But you can usually have them without warranty. Plus, you can receive them from a private lender, bank, or credit union for whatever purpose you see fit. Therefore, below we present five easy ways to get a personal loan during the pandemic.
1. Borrow a smaller personal loan amount
Since everyone is heavily affected by the pandemic, most people would find it hard to let go of their savings, income, or finances. Of course, they will allocate their remaining funds to their personal needs. However, there are still people who are always so generous in lending their money to those who really need it. But the question is, how much and when is it due?
Thus, the approval of your prospective lender depends on the amount of personal loan you wish to take out. If it’s too large, don’t expect your lender to grant your request. Remember, everyone has suffered enough. So, borrow a loan amount. This way, your lender’s apprehensions and worries about non-payment on your part will be alleviated. Your private lender will be happy to lend you any amount of money you request.
Also, when the total amount of money loaned is not so large, your creditor will be flexible about the deadline or due date for payment. This setup is beneficial to you since there will be less pressure to return the same amount of money you borrowed.
2. Become a co-owner of someone else’s credit card
You can choose to be the co-owner of another person’s credit card or the authorized user of another person’s credit card if you want to get a loan without hassle or hassle. This is another quick way to get a loan during the pandemic since you won’t have to worry about not qualifying for an unsecured credit card. Worse still, you won’t receive or extend a credit card if you have a low credit score.
So, to receive a loan from a lender without having to post collateral or prove your good credit, you can become a co-owner of another credit card. You just have to arrange the situation with your co-owner so that he entrusts you with his credit card. Being a co-owner or authorized holder of said credit card will allow you to buy everything you need to survive during the pandemic.
Just make sure you are aware of and responsible for this shared ownership credit card to avoid any damaging and harmful consequences. This is tricky because your two actions necessarily affect each other.
3. Apply for a personal loan without credit check
One of the easiest and fastest ways to get a loan during the pandemic is to apply for a personal loan without a credit check. In the normal course of credit business, your lender will review your credit score and report to assess your ability to repay your debts. And if you have an unimpressive credit score, you probably won’t be able to get a loan. So, it is unfortunate that your suffering during the pandemic does not end.
Therefore, this no credit check loan does not require you to assess your credit score. Instead, your chance of getting loan approval depends on your savings, income, and other assets. It’s easier and more beneficial for you.
4. Get a pawnbroker
Getting a pawn loan is a quick way to get cash during the pandemic. And that’s what loans are for – getting money from another. A pawnbroker can be considered a personal loan since it does not look like your traditional loan. It does not require a credit check. He only needs any collateral you can offer. And by collateral, I mean anything of value. And when you hand over your item, you’ll receive your money the same day based on the value of your item.
5. Obtain a loan from family or friends
This is the most common of all the ways to get a loan, especially during a pandemic. This is based on your promise or guarantee to repay your family or friends. This may or may not involve a warranty at all. But one thing is certain; it also does not require a credit score or verification. Therefore, it is easier and faster.
It is undeniable that the pandemic has taken its toll on us, especially on our finances. However, we can rise above this and continue to survive. Don’t worry because there is help. The rescue is coming. Just take note of these five easy ways to get a loan in these tough times, and you’ll surely pull through.