Nemo Loans
Everyone needs money at times; unexpected expenses, emergencies, or even planned purchases or activities that take more than you have in hand. Most people assume that there are only two options available:
- Dip into your savings, or break the investment
- Put it on a credit card.
Neither of these are particularly good; breaking an investment means you could have an opportunity loss, and credit cards have a high interest rate. Unless you expect to pay it off within a couple of months, credit cards can extract a high toll.
So what’s the alternative? There are a variety of secured loans that can be obtained quite easily, and at a reasonable interest rate. Here are some examples.
If you have a home improvement project, look for a home improvement loan. Financing is not difficult if you are working and you are able to afford repayments on a loan. Typically, these can be paid off over one to five years with a fixed monthly installment.
If you’re looking to buy appliances or furniture, a personal secured loan is a good option. This is typically given to people who’re employed by medium to large sized organizations, and could be secured by your savings or investments.
If you run a small business, check around for a self employed loan. You’ll need to provide business references and your statements of accounts and taxes, but you can get the loan sanctioned fairly fast.
These are examples; for your specific requirements, talk to your bank or financial advisor.