When a person is in an urgent need of money, one usually opts for a loan such as the instant loan and the reason for this is that these loans are acquired very quickly and easily and one does not have to put too much effort in collecting the necessary administration papers. However, because instant loans have gained such popularity, other options are not well known to people and many are not aware of them while there are actually may other ways of taking a loan which is actually only slightly different from an instant and the difference usually lies in the way one applies for a loan. In this article, some of the possible varieties will be presented.
The fact is that the majority of people do not know that they can apply for a kind of instant loan via text messaging. In fact, there are even special companies that are called by the name TxtLoan companies and they deal with this kind of application exclusively. The only requirement here is that you have an account at one of these companies where your paychecks are deposited electronically. If you do have such an account, you may just text the company and get your loan.
As for the conditions of taking these loans, they can even be better than those of regular instant loans in that the rates and fees are usually much smaller than with the instant loans. The borrowed money will also be immediately available for withdrawal and it will automatically be reduced from your next paycheck or whatever regular income that is deposited to your account.
Another similar loan exists and it is called tax refund anticipation loan because when you take this loan, it not deducted from your paycheck, but from the receipt of your income tax refund. Practically, it is not an instant loan, but it is very similar to it regarding costs.
A very interesting type of instant loan is the so-called title loan. The requirement here is that you have a car, but you also have to be in clear title of it and hence the name of the loan. The amount that you can borrow with this type of loan is the actual resale worth of the car. There is another very similar loan called logbook loan because it is secured exactly by the logbook of your car and the lender will retain this logbook. As for the conditions, they are usually better than those of instant loans since these are actually secured variants of the unsecured instant loan.
All in all, these are the basic characteristics of some variations of instant loans that might not be so popular and many of you will probably find just the right solution in some of these. Now that you are presented with these additional options concerning instant loans, think carefully and decide which one of the offered alternatives could suit your needs best.