At Loan Monkey, we give you access to an extensive network of online lenders. These lenders are used to dealing with less than perfect credit so, even if you have bad credit, you may be able to get an offer. Just fill out the short loan form below to find out. In just a few minutes you will have your answer.
We Can Help
At Loan Monkey, we are here to help you get your $1600 loan offer, even if you have bad credit. How can we do this? Easy, it is because we are not a direct lender. Sounds strange, but it is true.
When you go to a direct lender, you have to meet a particular set of requirements to get an approval. This make it harder to get an offer if you have bad credit.
Loan networks are very different. There are more lenders which means more sets of requirements. What might not get you approved with one lender might get you an offer with another. Lender networks may help you get an offer much faster which is important, especially if you need the money to handle an emergency.
Getting Your Loan Offer
So, by now you might be wondering how it all works. Well, it is very simple.
Your first step is to fill in the quote form at the top of the page. It just requires some basic information so it should not take you more than a few minutes to complete. When you enter how much you need, think hard. If you need $1600, put that but if you can get by with less, say just $1000, just go with that. The more you borrow, the more interest and fees you will pay.
You will also be asked for your banking information. This is so your lender can send you your money should you decide to accept the offer you receive.
After you have completed your quote form, simply hit the submit button after reading and agreeing to the terms. Your information will then be sent to the loan network.
Once a lender is found that wants to make you an offer, you will receive the details of the loan agreement. you then have the opportunity to review the details and decide if the loan is right for you. If you like it, you can accept it and if not, simply walk away. There is no commitment or cost.
If you accepted your 1600 dollar loan, your lender will get you your money ASAP. This often happens the next business day but not always. Rest assured that your lender wants to get you your money as soon as they can.
Paying Back Your Loan
Your loan documents will have all of the details of your loan including the repayment schedule. You should pay close attention to the installment payments as well as the total cost of the loan. Make sure that the total cost is not unreasonable and that you can afford to make the monthly payments.
If you do not think you can afford the installment payments, you have three choices. You can turn the loan down, you can make some budget cuts or you can find a way to increase your income. Let’s discuss all of these possibilities.
Turning The $1600 Down
I am sure you need the money but if you can not afford the payment, you are setting yourself up for disaster if you accept the loan. Yes, your lender will try to determine if you can afford the loan but ultimately, it is your decision because nobody knows your finances better than you do.
Making Budget Cuts
If there is room in your budget for cuts, you might be able to make the loan payment work in this way. There are a lot of ways to trim the fat off of a budget. You can cancel cable, stop dining out for lunch or even shop around for cheaper car insurance. If you do not have a formal budget, sit down and write down all of your bills. Then go through them one by one and see where you can make cuts. If you can make enough cuts to be able to afford the loan, you can then accept it.
Increasing Your Income
We all would like to increase the amount of money that we make but few of us do anything about it. These days, there really is no excuse. Employers will do anything to attract new employees and online apps make it easy to make money if you just have a car and a smart phone.
Check out jobs at Walmart starting at $13 an hour or Target making $15 an hour. Sticking shelves has never been more profitable and with the extensive hours of these stores, there is a shift that can fit any schedule.
If the retail world is not your thing, consider driving for Uber, Lyft, Uber Eats, Grub Hub, etc, etc. The list goes on. It just depends if you would rather deliver food or people.
Getting a loan has never been easier for those with bad credit. So, if you need 1600 dollars now, take a couple minutes and fill out the short quote form. Just be careful to consider carefully whether you actually need the loan and if you can afford to pay it back. Rushing into these kinds of financial decisions can be disastrous, so be careful.