Our online application is fast, secure, and easy.
We ensure a speedy process.
Receive your cash as soon as the next business day.
Financial emergencies can hit anyone at any time. No matter how careful you are with your money, unexpected expenses may arise, leaving you short on cash. This is where payday loans come in handy. But what if you have a poor credit score that prevents you from qualifying for traditional payday loans? This is where equity funding payday loans come into the picture.
Equity funding payday loans are loans that are secured by your equity in a property. It is a type of loan that help people who have bad credit, no credit or simply cannot obtain a traditional loan due to their financial situation. These loans are easier to obtain, as the lender has a security interest in your property, so the risk is lower for them.
The process of obtaining an equity funding payday loan is straightforward and simple. You start by providing the lender with proof of home ownership, and the lender then calculates the amount of equity you have in your property. The amount of equity you have can then be used as collateral for the loan.
The lender will then determine the amount you qualify for based on your equity and the current value of your property. The loan terms and interest rate will also be determined based on the amount you are borrowing and the length of time you need to repay the loan.
Once you agree to the loan terms, you will receive the funds directly in your bank account. Equity funding payday loans are typically short-term loans, ranging from a few weeks to a few months, and they are designed to tide you over until your next paycheck.
Unlike traditional payday loans, equity funding payday loans provide several benefits to borrowers:
If you are facing an unexpected financial crisis and cannot obtain a traditional payday loan due to bad credit or other financial reasons, an equity funding payday loan can be an excellent option to consider. Not only are they easier to obtain, but they also offer lower interest rates, more flexible repayment terms and quick approval. However, as with any financial product, it is important to do your due diligence and understand the terms and conditions of the loan before signing up for it.