Get unsecured loans with no collateral and no stress!
Get unsecured loans with no collateral
Pawn shops have been around for a long time. In fact, some historians say they are the oldest form of lending. So often, when people are short on cash and need some finances right away, their first thought is to go to the pawn shop. Of course, that means you must bring some collateral.
At a pawn shop, you must trade a piece of property for your short-term loan, which is called a secured loan. Through Personal Money Market, you can get unsecured loans. That means you can get cash without trading anything. All we need is your promise to pay back your unsecured loans on time, and you’ll have cash in just a couple of hours. Even if you need cash to get bailed out of jail there are payday loans for that.
Get started on your unsecured loan application
How can we hand over cash with no collateral and give out unsecured loans? There are, of course, fees for the lenders’ services, but you don’t have to pay until your loan is due. The fees are lower than the average bank’s overdraft charges, so it’s cheaper than running out of money completely and you don’t run the risk of losing your property.
So why do we trust borrowers to pay back their loans, even though we don’t take any collateral? Because it works. The vast majority of people who take out unsecured loans pay them back on time, complete with lender’s fees. So borrowers get the cash they need when they need it, they save money because they don’t overdraw their bank accounts and the lenders make a little money. Everybody’s happy.
Unsecured loans versus car title loans
Another type of secured loan that has become popular lately is a car title loan. That means you trade your car title in exchange for a short-term loan. If you don’t pay back your loan, you could lose your car. You can borrow just as much money through Personal Money Market in the form of an unsecured loan, and you don’t run the risk of losing your car.
There are hefty fines if you don’t pay back unsecured loans on time. That’s why it is very important to only borrow what you can afford to pay back when you get your next paycheck. If you need cash fast, and you are qualified, our lenders will automatically deposit your loan into your account, sometimes as quickly as just a couple of hours.