Erin Benson
May 15, 2023
• 2 Minute Read
Are you looking for a personal loan? How do you know what loan is right for you? We can help! A personal loan is money that you borrow from a lender that you are responsible for repaying with monthly installments over a period of time. Personal loans are usually unsecured, meaning you don’t need to provide a collateral like a secured deposit or item of value. Lenders will take a look at your income, credit profile and debts during the approval process.
Personal loans can be used for almost anything, but it makes the most sense to take out a loan if it is your best option to finance. Interest rates vary from lender to lender and the rate you receive depends on factors like income and credit score. Keep a close eye on other fees like late feed, prepayments fees, or insufficient funds fees.
Flexible & Safe Loan Options
Possible Finance is newer to the short-term loan/personal loan space, and it provides its members with flexible and safe loan options. Their mission is to help you and your community break the debt cycle and unlock economic mobility for generations to come.
The payday loan alternative with a fair repayment plan
- Borrow up to $500*
- Not late or penalty fees – ever
- Pay overtime in 4 installments
- Minimize mounting debt and build your credit history
Members pay back their loans over multiple payroll periods and can postpone payments up to 29 days without any added fees or penalties, while building credit history. Possible reports to major credit bureaus.
A Branded Promise
Possible was created because they believe that everyone deserves a path to a better life. Possible’s brand promise is Here for good. As a Delaware Public Benefit Corporation, their brand promise is underscored by a corporation commitment to benefit the communities they serve.
Possible’s Impact:
- Over $400 million lent to customers
- On average, customers saved $470± by choosing Possible
- One-third of credit invisible customers establish a 570 credit score after just one Possible Loan
±In 2022, Possible customers saved on average $470 in fees charged by traditional payday lenders. Savings based on the maximum fees Possible could have charged customers, including late fees, insufficient funds fees, etc. Results will vary.
Think Possible is the best option for you? Apply for a loan today!
*Loan amounts and structure vary by state. In California, max loan amount is $250.
^Funds disbursement typically occurs within minutes of approval but can take up to five days.
In some states, loans available through Possible Financial In. dba Possible Finance are issued by Possible Financial Inc. In other states, loans available through Possible Finance are issued by Coastal Community Bank, Member FDIC. Loan terms are subject to eligibility.
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