Connect with us

Resources

Get a loan in less than 24 hours: All you need to know about emergency loan

jean pierre fumey

Published

on

Obtenir un pret en moins de 24h

Unfortunately, no one is immune to financial emergencies… your refrigerator might break down in the middle of the month, the vehicle might get a puncture, or you may need to buy a new outfit to attend a job interview.

Financial institutions might not be the right place to turn to when you get an emergency. However, you can still get a speedy financing solution from organizations that are targeting individuals seeking quick financing.

Emergency consumer credit: What the law says

Whatever the reason or form, an individual can only access the loan amount after 7 working days. While this law was created to help individuals avoid taking a lot of credits and look for an alternative, this is not applicable in many countries. Actually, you can access an emergency loan in some countries in less than a day.

Evaluating the lender: Shop around before applying for it

Most institutions disburse an emergency loan immediately in order to help borrowers meet their immediate needs promptly.

Aside from the limit of an emergency loan, the applied interest rate is generally higher than that of a personal loan. Once again, you will have to take time to compare different interest rates offered by each financial institution.

Pick a lender with the best rates and that can disburse the loan within the shortest time possible.

Applying for an emergency loan? Here is how you can speed up the process

You can speed up the disbursement of an emergency loan only after identifying a lender offering a competitive interest rate.

First prepare all your supporting documents in advance: identity document, proof of address, bank account statement and finally proof of income. Still, some organizations might request additional documentation.

Next, confirm whether the lending institution accepts online applications. If so, make your application and submit your supporting documents online. Indeed, this reduces time wastage linked to visiting the lender in person.

The lender should disburse this loan to your bank account once approved so that you can sort your emergencies.

Jean-Pierre is a polyglot communication specialist, freelance journalist, and writer for startup.info with over two decades of experience in media and public relations. He creates engaging content, manages communication campaigns, and attends conferences to stay up-to-date with the latest trends. He brings his wealth of experience and expertise to provide insightful analysis and engaging content for startup.info's audience.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Top of the month

Copyright © 2023 STARTUP INFO - Privacy Policy - Terms and Conditions - Sitemap - Advisor

ABOUT US : Startup.info is STARTUP'S HALL OF FAME

We are a global Innovative startup's magazine & competitions host. 12,000+ startups from 58 countries already took part in our competitions. STARTUP.INFO is the first collaborative magazine (write for us or submit a guest post) dedicated to the promotion of startups with more than 400 000+ unique visitors per month. Our objective : Make startup companies known to the global business ecosystem, journalists, investors and early adopters. Thousands of startups already were funded after pitching on startup.info.

Get in touch : Email : contact(a)startup.info - Phone: +33 7 69 49 25 08 - Address : 2 rue de la bourse 75002 Paris, France