Tips for Securing a Personal Loan for Unexpected Expenses
posted on Oct 14, 2020 | 559 likes
Key to getting a quick personal loan.
Facing an unplanned or emergency expense is never easy, especially when you don’t have enough in your bank account to cover it. When situations like this arise, it's only natural to feel overwhelmed and unsure about your next steps.
Before you get restless and out of control with worries that could lead to medical conditions, one option can help you quickly cover an emergency expense in a more financially manageable way: a personal loan.
But before you start applying, we recommend taking the following steps to ensure that your loan application process is both effective and seamless.
Would you apply for a new job without having your current resume ready? We hope not!
The same concept applies to your loan application—you'll want to be sure that you have all of your necessary documents in order before starting the application process.
Having this information prepared and organized ahead of time can help alleviate any potential processing delays.
While the specifics of what may be requested can vary amongst lenders, at Page Financials, we require that;
· You earn a monthly salary
· You have up to 6-months’ salary account statement
· You live/work in Lagos or Ibadan
· You have one passport photograph
· You have a work ID from where you work
· You have a BVN
Explore Your Options
Before you rush to apply, be sure to take the time to explore your personal loan options.
Make it a point to search for credible online loan providers by reading their reviews and accreditations before applying. For more information, check out our article on signs an online personal lender is not legitimate.
Choose a partner that has the technology and expertise that can facilitate the speedy application, approval and disbursement of your loan.
A licensed financial institution like Page Financials, have highly knowledgeable representatives working to answer all your questions and guide you to the loan that best suits your needs.
Know the Process
A key component when applying for a loan is knowing whether or not you'll be approved. Prequalifying for a personal loan allows you to better understand the amount of money you may qualify for and at what interest rate you'll be able to borrow.
Knowing this information upfront will not only save you time and money, but it'll also serve as an important reference point when shopping around for lenders.
You can email us at firstname.lastname@example.org, call us on 017007243 or message us on our social media accounts to know how much you qualify for and if you are qualified.
This pre application process will help you to have the right expectation.
For example, at Page, we are only able to process applications for people whose salary is 100k and above monthly.
By knowing this information, you would save yourself a whole lot of time of your salary is not up to that amount.
Establish Good Financial Habits
It may seem counterintuitive to think about your financial habits when you're in the midst of dealing with a financial emergency, but in reality, there's never been a better time.
Being faced with an unexpected expense often sheds light on our current financial situation and puts into perspective areas that we'd like to improve on.
For example, revisit your budget and make it a priority to put aside money for a small emergency fund. That way, in the event you experience another unexpected expense, you'll have more financial resources to work with and won't feel as stressed.
When you need a personal loan to cover an unexpected expense, it can be tempting to go with the first available option you see. However, taking the time to conduct some research and fully explore your options will allow you to confidently select a loan that works best for you and your unique financial situation.
Fortunately, we help customers work out a financial plan that works for them, our financial experts will guide you into understanding the next smart move you should make – even in the middle of an emergency.
At Page Financials, we understand the value of being financially informed, so we make it easy to explore your options. Apply online to get started with your personal loan.
Our application takes just minutes to complete, and you can receive funding in as little as 3 hours!