Many people are aware that at a payday loan can be a good way to finance an emergency repair or the need for some fast cash. However, there are some downsides to this kind of borrowing. Plain Green Loans provide an alternative to the payday loan that may make it easier for many borrowers.
There are many similarities to the payday loan and Plain Green Loans. Both can be used for any purpose that you need, and they are not difficult to quality for. When you take out a payday loan you must repay the entire amount plus fees with your next paycheck.
Paying off a loan quickly is the best method if you can afford it. However, you may have expensive car repairs that cost a thousand dollars. If you pay this back in one lump sum, you may not have any money for food and other expenses for the next two weeks. This is not a viable solution to a problem as it simply delays the trouble and might bring on additional financial headaches in the near future.
When you borrow from the lender, you can pay the money back in 14 installments. Your payments are due biweekly or every two weeks. Since most workers are paid in this fashion, it is easy to budget your payments. This way you will not have to run short of money for essential items after you take care of your bills and obligations.
Borrowing from this firm is very easy and simple. First time borrowers may receive up to one thousand dollars. Repeat customers can borrow as much as three thousand dollars. Interest rates are lower than most standard payday loan borrowing. In addition, if you become a regular customer you will receive reduced interest on your financing.
If you receive less interest than a payday loan, this can save you money. You also have the added convenience of installments. You can choose the loan terms that are the most convenient for you. For instance, you may wish to repay the amount in four months time. However, you can choose to take as long as nineteen months, depending on how much money you borrow.
If you have bills that will soon be overdue, it may better to borrow the money. For instance, an overdue electric bill can be like adding one thousand percent interest when you add up all the late fees. You will not pay anywhere near this much with Plain Green Loans.
This kind of borrowing is more expensive than a standard loan. As such, it should be used with caution and only when absolutely necessary. However, it provides a means to pay for things when there appears to be limited viable solutions.
If you are thinking about taking out a payday loan, stop and compare what Plain Green Loans has to offer. You will have the option of extending your repayment, so you will still have money for expenses each paycheck. Read all the terms before you apply and make sure you understand how this kind of financing works.