~Personal loans can be used for almost any purpose.
~Debt consolidation, financing home improvement projects, paying for moving costs or emergency bills.
~Before applying for a loan, assess your credit and finances to avoid future financial woes.
SERVICES
Personal Loans
We offer personal loans tailored to your needs with competitive interest rates. Whether it's for an emergency expense, debt consolidation, or funding a major purchase, our personal loans provide the financial support you need.
Business Loans
Expand your business, purchase new equipment, or manage cash flow with our business loans. We understand the unique financial needs of businesses and offer flexible loan options to help you achieve your goals.
WHAT OUR CLIENTS SAY
Dollars Loans product is the financing of loans, our primary goal is to provide our customers with the best service that they can get.
Since 2000, we’ve been helping clients successfully finance their homes, and provide them with unparalleled Loan Agency services. At Dollars Loans, client satisfaction is our main priority. If you are a client and would like to write about a recent experience with us, please let us know. We are always happy to receive feedback from our clients.
Casey Johnson
Dollars Loans helped me secure a personal loan quickly. Their customer service was exceptional, and the whole process was hassle-free. I highly recommend them!
Kris Michaels
When my business needed extra funding, Dollars Loans came to the rescue. Their business loan options were perfect for our requirements, and the approval process was fast and efficient.
Frankie Bolder
“Anytime I’ve had an issue, I’ve reached out to Dollars Loans. They’ve been there from the start to help when I’ve needed it.”
About Us
At Loan Agency, we understand that life can throw unexpected curveballs that require immediate financial assistance. That's why we are here to provide fast and easy loans to help you overcome financial challenges. Our dedicated team is committed to guiding you through the loan process and finding the best solution for your needs. Trust us to offer reliable loans with competitive interest rates and flexible repayment options. Apply now and experience the convenience of our Loan Agency.
9 Reasons To Get a Personal Loan
It’s always important to consider your financial situation and creditworthiness before taking on any
1. Debt Consolidation
Debt consolidation is one of the most common reasons for taking out a personal loan. When you apply for a loan and use it to pay off multiple other loans or credit cards, you’re combining all of those outstanding balances into one monthly payment. This grouping of debt makes it easier to work out a time frame to pay off your balances without getting overwhelmed.
One of the main advantages of using a personal loan to consolidate credit card debt is that these not only come with a fixed rate — protecting you from market fluctuations — but interest rates are usually lower. The average personal loan has an interest rate of just above 11 percent. Meanwhile, credit cards carry an average interest rate of nearly 21 percent.
With a lower rate, you can reduce the amount of interest you pay over time, which not only saves you money but could help you get out of debt faster. To secure the best rates, you’ll need to have good to excellent credit, plus a stable source of income or a co-signer that meets these criteria.
2. Alternative To Payday Loan
If you need some extra cash to tide things over until you get paid, using a personal loan instead of a payday loan may save you hundreds of dollars in interest charges. The average APR for a payday loan can be more than 600 percent, depending on your state. The maximum interest rate on a personal loan is typically about 36 percent.
Payday loans have short repayment terms, usually by your next payday, between two and four weeks. This quick turnaround time often makes it difficult for borrowers to repay the loan by the due date. Borrowers are usually forced to renew the loan instead, causing the accrued interest to be added to the principal. This increases the total interest owed.
Personal loans, on the other hand, have repayment terms of 12 to 84 months, giving you some additional wiggle room to pay off your balance, without incurring any extra fees.
3. Home Improvement Projects
Homeowners can use a personal loan to upgrade their home or complete necessary repairs, like fixing the plumbing or redoing the electrical wiring.
A personal loan is a good fit for people who don’t have equity in their home or don’t want to get a home equity line of credit (HELOC) or home equity loan. Unlike home equity products, personal loans often don’t require you to use your home as collateral since they’re unsecured. Additionally, funding times are usually quicker for personal loans and they may be a better option than HELOCs or home equity loans if you’re looking to do small renovations or repairs.
4. Moving Costs
The average cost of a local move is between $882 and $2,544, while a long-distance move costs anywhere from $2,700 to $10,000, according to Angi. If you don’t have that kind of cash on hand, you may need to take out a personal loan to pay for moving expenses.
Personal loan funds can help you move your household belongings from one place to another, purchase new furniture, transport your vehicle across the country and cover any additional expenses. Using a personal loan for moving costs can also help you stay afloat if you’re moving somewhere without a job. This way you can avoid raiding your savings or emergency fund.
5. Emergency Expenses
Sudden emergencies — like surprise medical bills — are another common reason to take out a personal loan, especially if your doctor requires payment in full. After you’ve negotiated with the hospital, doctor and insurance company, you might need an emergency loan to cover unexpected medical costs.
Emergencies around the house, such as a burst pipe, might also require quick funding while waiting for an insurance payout. In the case that you will be reimbursed for the cost, pay close attention to whether there are prepayment penalties.
6. Large Purchases
Personal loans allow you to cover steep automotive repairs or purchase major household appliances and electronics immediately. Though you’ll have to pay interest and potentially upfront fees, you may save time and money in the long run, by avoiding having to use laundromats or rental cars and other short-term, expensive alternatives.
7. Vehicle Financing
A personal loan is one way to cover the cost of a car, boat or RV. It’s also one way to pay for a vehicle if you’re not buying it from the company directly.
For example, if you’re buying a used car from another consumer, a personal loan will allow you to purchase the car without emptying your savings account. Additionally, since personal loans are unsecured, the vehicle wouldn’t serve as collateral. That means you would own the title right away and could sell it in case of an emergency — something that would be more complicated with an auto loan.
8. Wedding Expenses
The average couple spends around $29,000 on their wedding, according to Zola. For those who don’t have that kind of cash saved up, a personal loan can allow them to cover the costs now and repay them later.
A wedding loan can be used for big-ticket items like the venue and bride’s dress, as well as smaller expenses like flowers, photography, the cake and a wedding coordinator. If you don’t want to deplete your savings account, consider a personal loan to help make your engagement and wedding exactly the way you always dreamed it to be.
9. Vacation Costs
Your average vacation might not cost enough to necessitate taking out a personal loan, but there are moments you may want to splurge, such as your honeymoon. Whether you’ve just graduated or you’re celebrating an anniversary, personal loans can help you finance your dream vacation.