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Most of us live from day to day financially. There are some that are lucky enough to be able to put little bits away when they can to build a safety net, but for the most part, many of us are increasingly at risk of falling short.

When your rainy day fund isn’t quite enough to meet the demand of an unforeseeable cost, a fast money loan or quick injection of cash is often the best way to stay afloat.

In this post, we’ll be looking at some of the most common ways people access loans quickly. Have a read through and see if any of these options makes sense for your circumstances:

A loan from family or friends

In a lot of cases, you’ll know someone that you trust enough to take a loan from. Whether it’s a family member, a good friend or a relationship partner, taking money from an associate is sometimes the best way to go. Unlike with any other form of credit, family and friends are unlikely to charge you anything in terms of fees or interest, as they’ll be happy to help you out if they can easily afford to give you the amount you need.

The issue with relatives and associates is timing, availability and of course, the relationship you have with them.

Asking for money from someone you know personally is always embarrassing.

It can also place a large and tense level of strain on your relationship. If things go well and you’re able to pay the full amount back in no time, there will be less panic, but it’s always hard to calculate the damage that’s done when things go wrong.

A fast loan from a trusted provider like Cigno Loans   

Getting a fast money loan from a professional vendor brings certain benefits. The first one being timing. These short-term arrangements are often called “payday” loans and can be paid out within minutes of your successful application. They’re perfectly designed to suit people who are in a pinch for time, but have a solid income that assures they can afford repayment in good time. They’re also very flexible with the amount you can take.

You’ve probably already heard from others or from media that these types of fast loans are becoming increasingly popular. Being able to apply online, or through an app, and receive the funds direct to your account the same day is hugely attractive. It can serve as a practical solution for anyone needing to handle a sudden cost as quickly as possible.

Credit cards

If you already have a credit card, this can be a very quick fix. If you don’t yet have one or you’ve reached your card’s limit, applying for a new one can take some time. Applying for a credit card means having the issuer rate your suitability based on your current credit score. If your score is to low, you’ll likely be refused or offered lesser terms.

Personal loans

A personal loan is usually issued by an established bank. The application process typically involves going into a branch to discuss your situation with a personal loans advisor. You’ll need your ID, and recent financial records showing your income, outgoings, current debts and any assets you own. The advisor will then lay out the options available to you.

It helps if you apply with a bank that you’ve already dealt with before, perhaps through an account that you’ve held with them. The time it takes for the process to pay out can vary between vendors and different circumstances. If you have a good credit score, don’t need the money for a few weeks and need to borrow a larger amount of money, this may be the most ideal solution for you.

Those are your best bets! We hope this quick list of fast loan ideas has helped! Remember, taking a fast loan is all about doing your research to find the option that ticks all the right boxes for you. Having a good look around to find out what’s out there is half the battle. If you need the funds as urgently as possible and your relations can’t help, a fast money loan will ensure you have the funds you need within moments of acceptance.

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Read more about fast loans in our previous blog post: Why Fast Easy Loans Are Increasing in Popularity

If financial hardship is affecting you and you need a payday loan, Cigno might be able to assist.

To apply, complete our quick and easy online loan application and send us your bank statement. Receive up to $1,000 in your account with our payday loans with manageable repayment options. For details, contact us.