You are one of a kind. You keep your needs small and simple. You never bite off more than you can chew. And more importantly, you’ve managed to survive thus far without depending on anyone for money. But things can change all of a sudden. Giving you no alternative but to go in for a loan.
The challenges of taking a small loan from a bank
Banks are limited by their size and structure. Irrespective of the loan amount you need, they have to diligently follow requisite procedures and policies. On an average, they’d keep you waiting 7-10 business days before they approve you a loan. That’s if all your documentation is in order. A poor credit will always work against you when you approach banks for small loans.
Small personal loans from payday lenders won’t work in your favor
It’s possible that your credit is not strong. You figure then your best bet would be to ask a payday lender for a small personal loan. That’ll be a mistake. Here’s how. In 14 days, by the time your next payday rolls in, you’re required to pay back the whole sum plus interest, which if annualized could work out to over 600%. To pay that back, you’d most likely need to go in for another small loan from another payday lender. It’s the perfect recipe for financial disaster.
Small Loans from Loan Away
At Loan Away, we work differently. We never allow our priorities to shift away from you. Neither at application and approval stages. Nor at the lending stage. Nor even at payback time. Operating online across Ontario, Alberta, British Columbia, and Newfoundland we make sure everything works in your favor.
Begin with the small loan application form here.
In as little as 8 minutes, by the time you’re done filling out your application for up to $5000, the system can pre-approve you. Online agents then take your request through the final approval criteria in real time. A poor credit can be overlooked. Your payback options could be set to stretch all the way to 36 months. In as little as 4 hours, you could be fully approved and your funds deposited directly into your bank account; again in as little as 24 hours.
We believe, getting a small personal loan shouldn’t turn out to be a big challenge for you. We believe, when your needs are small the solutions ought to be simple.