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Need Money urgently but can't get a Loan? Explore these options

Here are other options to explore if your need Money urgently and you cannot get a Loan due to bad credit history or other factors.
Need Money Urgently

There are so many reasons you're unable to get a Loan in from any Lender or financial institutions like Banks. Some of the reasons are bad credit history, overdue loans amounts, and your name has been blacklisted in the credit bureau of your country.

However, if you find yourself in this kind of situation, there are alternate options you can explore to get Money without the need for your regular traditional Loan ways. But before we dive fully into Loan alternatives, you can consider ideas. Its specifically works for the poor or in case whereby emergency cash is need immediately.

  1. First of all, do know that while getting a Loan might be easy when you have a good credit history and difficult when you have a bad credit history, the Loan interest rate is another debts on you especially when you're not financially stable or poor.
  2. Secondly, if you're facing owing a bill payment, it's a situation whereby you can just contact the person in charge and negotiate time with him/her. Who knows, the person may extend your time and give you grace to further double your hustle.
  3. Sell unused Items: Every person have items they don't use in the home. No matter how poor you are, you must have items you no longer need. Unused Items can drive in quick cash. These Items includes Clothes, Condemn Irons, Electronics, Furniture and more. A good marketplace to sell Unused Items is Ebay.
  4. Sell your Skills: While selling of skills are not profitable immediately you start Freelancing, it can also help in generating small amount of cash in no time. You can use platform like LinkedIn, Fiverr and Upwork to post Gigs. Learn how to get a Job on LinkedIn.

Here are options to consider when you need Money but you can't get a Loan

1. Seek help from Friends and Family

Be upfront, sincere and honest to that person in your family or among your friends who can help you with Money urgently. Although, they maybe willing to help by giving you a cash advance with little or no interest rate. But don't be too forward to accept agreement without putting it in written agreement to avoid future misunderstandings.

2. Seek help from your Boss/Company

Instead of getting a Loan, you can request "Salary Advance" from your Boss or the company you work for. Explain your situation to them and if the realize that you're currently facing financial hardship, they'll be more than glad to help by giving paycheck in advance.

Depending of company's term and condition on Salary Advance, the Loan maybe deducted from your next salary. However, some company will deduct it base on percentages on every paycheck till the outstanding balance is cleared.

3. Get Government Grants/Benefits

In many country, especially from the west, government offers many fund programmes to help the average and the poor who needs Foods, Medicines, Clothing and Shelters. In the United State, you can reach out to local resources or call 211 to know the available government's grants and benefits available in your Area.

The Bottom Line

In conclusion, even if a traditional loan isn't in the cards, there are still avenues to explore for finding the cash you need quickly. From seeking an advance on your salary to tapping into underutilized resources like unused belongings or a government grants and benefits available in your area, there are options to consider. Remember, prioritizing responsible solutions and clear repayment plans is key to navigating any urgent financial situation.

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About the Author

With five years experience in Media, Temmy Samuel's become a modern journalist, delivering impressive reporting about tech, finance, business and science around the world. More About Temmy

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