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Category: Personal Loans

Whether you want an infusion of cash to cover a large purchase, or need help paying unexpected medical bills, you may benefit from taking out a personal loan. Because they are not tied to a single use, such as an auto loan or mortgage, they can be used in a seemingly endless number of ways.

However, their versatility is exactly why personal loans can be so confusing. No one’s financial circumstances are the same, and depending on your situation, taking out a personal loan may not be the best choice for you.

We understand how important it is to be well-informed about your financial options. That’s why we’ve created this resource center — so you can learn about personal loans and make the best decisions possible for yourself and your finances.

What Is a Personal Loan?

A hand reached out and holding change.

The term “personal loan” can sound vague, and that’s because, in a certain sense, it is. A personal loan is a loan that is taken out in order to provide an infusion of cash into your individual finances. This can be done for many different reasons, whether you’re reacting to a financial emergency or trying […]

What Is Loan Amortization and How Does it Work?

A loan officer holds up a loan agreement contract prompting the viewer to sign with a pen.

Loan amortization is when your loan has scheduled periodic payments, usually monthly, that is applied to both the loan principal and interest. Generally, the loan payment you provide each month is first used to pay off interest, then the loan’s principal amount. Therefore, your payment may be used to pay off interest or principal in […]

What Is a Working Capital Business Loan?

Salesperson working at a checkout counter in a busy shop, looking over her shoulder.

Businesses need funds to carry out their daily objectives. Managing inventory, maintaining equipment, paying employee wages, advancing marketing efforts — these are only a few of the many expenditures a company can expect to pay for on any given day. The funds used to take care of these daily expenses are known as working capital. […]

Microlending Basics: What Is a Microloan and How Does It Work?

Woman works as a street vendor in Hong Kong.

Microloans are a great option for entrepreneurs who need a small loan that might not qualify with a traditional bank or credit union. They work similar to traditional loans, but there are a few key differences that you need to know. We’ll explain microloans and compare them to traditional loans to help you determine which […]

Patriot Express Small Business Loans for Veterans and Military Entrepreneurs

Patriot Express

The Patriot Express Loan program is no longer active, but it was a loan program through the Small Business Administration that guaranteed easy access to small business loans and funding for veterans and military entrepreneurs. In this article, we’ll discuss the Patriot Express Loan program, why it is important to provide small business loans to […]

What You Need in Your Business Loan Application

What You Need in Your Business Loan Application

Small businesses might be the product of dreams and career passions, but they can’t open their doors on simple hopes alone. They also require loads of money to get the ball running. Sometimes that money can come from family members or years worth of savings. Sometimes that money can come from Angel Investors and well-off […]