18 Oct

Payday Loan or Asset-Based Loan?

Nothing in life is certain but death, taxes…and the eventual need for a short term loan.  It is inevitable.  Even Donald Trump has to ask the bank for money now and then!  For us who are not billionaires, we still have a great many options at our disposal.  For some quick cash, consider either a loan using personal assets as collateral or try a Payday Loan against your next paycheck.

You may wonder what the differences might be. In both cases, you will be charged a minimal fee for acquiring the loan. The extension process in both types of loans is also very much the same. The differences in the two loans might be in the amounts of quick cash that you require. 

 If the amount of money that you need for your cash emergency is less than your next paycheck, you might want to secure a Payday Loan.  You will simply sign a direct debit agreement that states that the funds will automatically be transferred to the lender on your next payday.

 An asset-based Loan is a good choice if you need more funds than you paycheck can handle.  By using personal possessions as collateral, you can gain a significant amount of cash rather quickly.  Almost anything of value can be used.  Car titles, boat titles, art, antiques, and jewellery are only a few of the top choices.  You can sell them outright to the Asset Lender, or pay back the short term loan with an additional nominal fee to get them back. The decision is entirely up to you!

short term loan