Monday 17 June 2019
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How Can a Small Loan From an Independent Lender Help You?

How Can a Small Loan From an Independent Lender Help You?

One of the biggest problems when it comes to getting a loan in this day and age is the aversion that most banks and big financial institutions have to lending money. Large businesses may not have a problem taking out loans but many individuals find that these traditional institutions simply give them the cold shoulder. The good news is that a number of independent lenders can step in to help.

Why Use a Smaller Lender?

The large money lenders are generally quite risk-averse. This is especially so after the global financial crisis of a number of years ago. So, where does this place individuals who simply need smaller loans to cover something? It means that they are left struggling to finance something important in their lives.

The good news is that some independent finance companies in NZ have stepped up to fill this void left by the larger financial institutions. By going to these companies, one gains the following benefits:

  • A fast approval service that eclipses the big banks in terms of speed and convenience
  • Full control over the amount you want and flexibility in terms of calculating repayments, interest rates, and duration of payment via an easy-to-use online calculator function

You Are in Control

The problem with the big banks is that they will usually corner you into a specific repayment plan that is in their best interests. This lacks flexibility and doesn’t take into account individual circumstances and budgets. When you go to these smaller lenders, they offer complete flexibility. If you want to pay the loan back quickly, it’s easy to work out. If you want to spread the payments and interest out over a longer period of time because it makes better sense for your monthly budget, this is also possible. You’re in control of all of these aspects yourself.

Why Take Out a Loan Anyway?

There are lots of good reasons why someone might need a small loan. Just consider the following possible reasons:

  • A New Car: Maybe one of your kids needs a car because he or she has just been able to get his or her license? Or maybe you need a new car because you were in an accident and you wrote off the other one? Our vehicles are important and many people simply can’t do without them. Getting a small loan to cover the cost of a new vehicle can be very helpful.
  • Renovations: If you want a new kitchen or bathroom but you just don’t have the ready cash for it, a small loan can cover you. It can add the value to your home that you need in order to sell it.
  • Wedding: Weddings can be very expensive but a small loan can mean that you get the wedding you have always wanted.

There are many reasons why a small loan is useful. Where the big banks are risk-averse and won’t cover what you need, an independent lender has your back.