Small personal loans are a great way of borrowing! When you aren’t immediately in the financial position to afford something you need but can budget to repay the amount over the next few months - these loans are a good choice! Commonly known as low-interest loans these are tailor-made to your needs and requirements and put the financial power back in your hands.
12M Loans unsecured personal loans are for everyone! Keep reading to get the best loan - you can even apply regardless of your credit history.
Types of Small Personal Loans
There are two types of loan available, and 12M Loans deals in unsecured personal loans.
Secured Personal Loans
These loans are secured by an asset, usually a property (known as a mortgage) or an automobile. If someone defaults on a secured loan, the creditor can call in the debt by repossessing the asset.
Unsecured Personal Loan
Affordable personal loans that don't require collateral. A lender can’t automatically take your property or asset in the event of a default to recover the loan sum.
Good News! It is important to know your credit rating when applying for loans. Some clients have no credit, poor credit or bad credit history; we can help everyone!
There are many types of loans or ways of getting extra money. Some are more suitable than others and it is important to check which type of financing best suits you. In some cases, a certain way of financing might not be the solution so consider carefully all options available to you.
Of course, each of the above have their own merits and it is important to realize which suits you. Be careful when applying for credit cards and payday loans as they often advertise headline rates and upon completion of application will give you a far less attractive rate.
Small Personal Loans 12M Loans
Small personal loans are a fantastic option, when you are looking for an amount of $5,000 - $15,000. These typically provide lower rates with longer payment terms allowing you to budget consistently over a defined period of time. Low monthly payments are easy to manage and you may save money!
Before You Take Your Personal Loan
Here are 5 things to do before you apply for a personal loan.
1 Ensure you have the funds going forward to repay the loan. Repaying loans keeps your creditors happy and may improve your credit history allowing you to borrow more in future.
2 Make sure you need a personal loan. Sometimes we have small pots of money set aside for emergencies, check these are exhausted before borrowing.
3 Know what you are going to do with the money, don’t simply take a personal loan because you can. These should be a clearly defined reason. Irresponsible borrowing leads to endless debt!
4 Check your credit score by ordering a credit report. Some lenders will run a hard credit check you to give you a loan. Too many hard inquiries will have a negative impact on your credit score. Make this your only loan application and you needn’t worry about this.
5 Read the terms and conditions and ensure you are happy with the loan agreement before signing. Each lending company provides loans for a different loan term and rate.
How to Use Your Personal Loan
A personal loan can be used in any number of circumstances. Maybe, your vehicle needs maintenance or the kitchen needs a fabulous makeover. Debt consolidation, medical expenses, credit cards payoff, home improvement or any other purchases - a small personal loan is a great financial solution for such expenses. Once the money is in your account it is entirely up to you on how you spend or allocate your funds.
Small Personal Loans For Bad Credit
You can apply and get approved even with no credit history! We process applications daily for people with poor credit and we pride ourselves on providing financial solutions to as many people as we possibly can regardless of their financial background. Make sure you complete the application form accurately and it puts yourself in the best possible position!
How to Apply for a Small Personal Loan?
Our application process is automated and streamlined to enable a fast turnaround on your loan application. The only delay now is the valuable minutes you are using by not completing the form.
- Complete the application form
- Get an instant loan decision
- Read and sign the loan agreement
- Receive your loan funds
All of our loan applications are treated in the utmost good faith and confidence. We have a network of nationwide lenders with the lowest competitive rates. 12M Loans only work with regulated and authorized lenders and make sure that they treat you in a fair and transparent manner. All of our loans meet strict compliance measures and we are very proud of the service we provide to our valued customers. Borrowers with any type of credit history may apply in minutes!