Request Personal Loans
- Have a minimum net monthly income of $500.
- The amount of the monthly loan payment cannot exceed 15% of your gross monthly income.
- The amount of monthly payment may not exceed your minimum account balance over the past 3 months.
- New and old customers who qualify as loan eligible, may opt for the full range of personal loans from $100 to $15,000.
Bankrupcy and Insolvency
- A customer who is currently in bankruptcy will be rejected.
- Be between 18 and 65 years old and reside in the United States.
- Have a bank account where the personal loan is to be paid and have a regular source of income that can be verified through bank account transactions.
- Have an active mobile phone that can receive calls and messages via SMS.
Complete Your Request
- Create a Bonsai user account with a valid email and activate.
- Choose the amount of money you want and the time you want to return it in.
- Fill out the form with your personal information (date of birth, driver’s license number, social security number, address, mobile phone, alternate phone) and source of income and an estimate of your monthly expenses.
- Fill the form with your financial information so we can get you your money as quickly as possible.
- All of this will help us ensure that you are able to pay your loan when the time comes.
- Once your request form is approved you will receive a text message with an activation code to the number you have previously indicated to proceed with the loan.
- You will receive an email and be presented with details of approval.
- You can then read the terms and conditions of the loan offer, and complete the loan request directly through the lender’s website we found for you.
Quick and Easy Money
- Once your request form is approved you will receive a final email notification, and your funds will be deposited directly into your checking account as soon as the next business day.
We will always protect your personal information, and comply with the regulations of Standard Data Security for Payment Card Industry PCI SSC (Payment Card Industry Security Standards Council).
Bad credit loans with fast turnaround time. Online request form is generally short and easy to fill out, requiring less information than would be needed to request a traditional bank loan. You will only need to indicate your annual income, state of residence, basic personal information, and a few other items.
Preparing to Take Out Personal Loans
Knowing our personal loan terms and conditions and the approval process covered above is only part of getting ready to request a loan. Persons interested in taking out loans with encratches.com should also prepare themselves in other ways, including the following:
- Define your specific goals: Whether you plan to use the cash for home renovation, car repair or purchase, dental or medical necessities, travel expenses, or something else, you want to detail ahead of time exactly how you plan to use the funds. Building back a damaged credit score or avoiding late fees or repossessions might also be important goals.
- Carefully calculate your ideal loan term and amount: It is best to take out loans for just enough or only slightly more than your needs demand and to give yourself plenty of time to repay. The total interest and fees paid will increase with larger and longer-term debts, but you won’t want to risk seeing your personal credit suffer or incurring late-payment fees.
- Plan and prepare for the repayment process: Your payments cannot exceed 15% of your gross monthly income, which necessitates some attention to budgeting. You need to look past the immediate financial difficulty and adjust your future budget to allow for timely, consistent repayment. This may require cutting other expenses or increasing your income going forward.
The Benefits of Using Personal Loans
Taking out loans for personal use through encratches.com offers you many distinct advantages, including these:
- We help to find the right bad credit loans to those who struggle to get approved with other lenders.
- We afford those with poor credit the opportunity to build back up their personal credit rating.
- Our request form process is simple, straightforward, and able to be completed in a matter of minutes.
- Our lenders deposit the money into your bank account fast, helping you avert any looming deadlines and allowing you to use your loan without delay.
Personal Loans With No Credit Requirements
When you request a personal loan with encratches.com, we will ask you for basic personal information on a short request form and determine if you qualify. We will also ask for your driver’s license number and social security number to verify your identity. This helps protect both you, and the lender, from fraudulent requests. Once we find a lender who matches with you, you will be able to get your loan deposited in your account as soon as the next day. It’s that easy!
Why Are No Credit Personal Loans Possible?
No credit personal loans may seem at first like an unrealistic expectation and then, when you learn they are obtainable, you might wonder if it all is “too good to be true.” Our past clients can testify to the verity of our no credit needed personal loans, and we have good reasons for operating in this fashion.
We see that a full third of credit scores in the United States are rated “bad” or “poor.” Many of these potential loan customers simply had a rough spot in their past and are responsible people who have the income necessary for timely repayment.
Personal Loans Online
Regardless of whether you have good credit or bad, finding personal loans online makes the process maximally efficient and convenient. encratches.com, therefore, focuses on providing easy, fast-cash personal loans that will normally arrive in your bank account within one business day.
It is difficult to take out small-sized, short-term loans like this offline, other than at a payday loan lender (and personal loans give you terms much superior to payday loans).
By borrowing only small quantities, you can minimize your monthly payments and pay the loan back quickly. Personal loans are a great way to tide you over a financial rough spot, and the Internet is the quickest, easiest way to obtain them, especially for those with sub-prime credit.
Discovering the Truth
There is a lot of information out there that seems to have people unsure of what personal online loans truly are and how they really work. Between the flood of junk mail and TV infomercials, a person’s knowledge base might vary based on the source of his or her information. If the idea of obtaining a personal loan with a negative credit history or no credit history at all appeals to you, then you are in the right place to discover more.
Online personal loans offer those with no credit an opportunity to establish and build credit. They also offer those with negative credit history an opportunity to rebuild their credit. Each scenario works because of the makeup of these types of loans offered online.
How Online Personal Loans are Different
These types of loans provide people with access to cash for all sorts of activities and ideas. These are specific types of loans, so you are not directed on what to do with the funds or how to use them. Once the money is yours, it is up to you what you do with it.
Other traditional loans are usually are based on credit history and require a credit report which can impact your credit score as an inquiry. Additionally, some of those types of loans include an origination fee and prepayment penalty. Such loans tend to offer annual percentage rates based on your credit, so the terms of the loans vary based on what the credit history from the credit report shows the lender.
Our lenders that we work with take a different approach. They are fixed terms with competitive rates. They also do not charge an origination fee or prepayment penalty on their personal loans. Their online loans do not even require a credit report. These online loans offered by the lenders that work with us are different. Our lenders offer loans that provide borrowers with an opportunity to get their hands on the cash that they need through verifiable income, not credit history.
How You Qualify
You might not feel like you need more information to make a decision. As an example, you may want to look into online installment loans as well. The qualifying process is simple for these types of loans. Keep in mind that it does not depend on your credit. It is based on the lenders ability to verify your income. That is critically different from the traditional loan and its requirements.
You can qualify for this type of loans by meeting the following criteria:
- Provide bank documents to verify your source of regular income
- Have a active cell phone that can receive both voice and text messages
- Reside in the United States
- Be between the ages of 18 and 65 years old
- Supply a debit or credit card as a backup payment for the loan
You can use the information provided as a way to get a better understanding of online personal loans. Get started today!