Has the pandemic hurt you so much that it has also hurt your finances and income? Did it negatively affect you and your family? I think the answer is yes since almost one hundred percent if not all of the population has suffered from the pandemic.
Most people lost their jobs and many got infected and eventually died. Everyone is aware that the economy has fluctuated. Businesses have failed. And everyone has been financially exhausted since the start of the pandemic. Therefore, people struggle to find ways to earn money for their survival. Thus, it is legitimate for the victims of this misfortune to obtain loans just to get by.
One type of loan is the personal loan. These are just your regular loans. But you can usually have them without collateral. Plus, you can get them from a private lender, bank, or credit union for whatever purpose you think is best. Therefore, below we present five easy ways to get a personal loan during the pandemic.
1. Borrow a lower personal loan amount
Since everyone is greatly affected by the pandemic, most people would find it difficult to give up their savings, income or finances. Of course, they will use their remaining funds for their personal needs. However, there are still people who are always so generous in lending their money to those who need it most. But the question is, how much and when is it due?
Thus, the approval of your prospective lender depends on the amount of personal loan you want to take out. If it’s too big, don’t expect your lender to grant your request. Remember, everyone has suffered enough. So, borrow a loan amount. This way, your lender’s apprehensions and concerns about your non-payment will be alleviated. Your private lender will be comfortable lending you the amount of money you ask for.
Additionally, when the total amount loaned is not that large, your creditor will be flexible on the deadline or due date for the payment. This setup is advantageous for you since there will be less pressure to return the same amount of money that you borrowed.
2. Become part owner of another’s credit card
You can choose to be a co-owner of another person’s credit card or to be the authorized user of another person’s credit card if you want to get a loan without any hassle. It’s another quick way to get a loan during the pandemic since you don’t worry about not being eligible for an unsecured credit card. Worse, you won’t receive or extend your credit card if your credit score is low.
So, to get a loan from a lender without having to put down collateral or prove your good creditworthiness, you can become a part owner of another credit card. You just have to settle the possible situation with your co-owner to entrust you with his credit card. Being a co-owner or authorized owner of said credit card will allow you to purchase everything you need to survive during the pandemic.
Just make sure you are careful and responsible about this shared ownership credit card to avoid any damaging and damaging consequences. This is tricky because your two actions necessarily affect each other.
3. Apply for a personal loan without a credit check
One of the easiest and fastest ways to get a loan during the pandemic is to apply for a personal loan without a credit check. In the normal course of credit business, your lender will examine your credit rating and prepare a report to assess your ability to pay your debts. And if you have an unimpressive credit score, you probably won’t have a chance to get a loan. So, it is unfortunate that your suffering during the pandemic does not end.
Hence, this no credit check loan does not require you to assess your credit score. Instead, your chance of getting approved for a loan is based on your savings, income, and other assets. It’s easier and more beneficial for you.
4. Obtain a pawnshop
Getting a pawnshop is a quick way to get money during the pandemic. And that’s what loans are for: getting money from someone else. A pawnshop can be considered a personal loan because it does not look like your traditional loan. It does not require a credit check. He only needs any collateral you can offer. And by guarantee, I mean anything of value. And when you hand in your item, you will receive your money the same day based on the value of your item.
5. Get a loan from family or friends
This is the most common way to get a loan, especially during a pandemic. This is based on your promise or guarantee to repay your family or friends. This may or may not imply any warranty. But one thing is certain; it also does not require a credit score or verification. Therefore, it is easier and faster.
It is undeniable that the pandemic has taken its toll on us, especially on our finances. However, we can get past that and continue to survive. Don’t worry, there is help. The rescue is coming. Just take note of these five easy ways to get a loan in these tough times, and you will surely get away with it.