What are Signature Loans?
Sometimes referred to as an unsecured loan, signature loans are financial agreements made between a lender and a borrower that requires no collateral. Unlike other loans in which the borrower pledges property or some other assets as security for the loan, the signature loan is extended on the basis of the borrower’s good name, his or her credit rating, or a combination of the two. Signature loans are available for both individuals and businesses. One of the advantages of obtaining unsecured signature loans is that none of the assets of the borrower are committed or pledged for the life of the loan. This means the debtor is free to use all assets in any manner he or she sees fit. This includes selling off assets in order to comply with the terms of the unsecured loan. Typically, the paperwork necessary to establish signature loans is less complicated than with other loan types. This also helps to move the loan process along at a quicker pace, as there are fewer details to address. In so
Signature loans, also known as unsecured loans, are short-term loans that don’t require a borrower to provide collateral. We offer two kinds of signature loans – payday loans and cash advances – tailored to fit your financial needs. If you are in a tight spot and need money fast, we can get the cash to you as soon as overnight. There is no credit check, nothing to fax, and the application process couldn’t be easier! Apply for signature loans today and feel better about your finances tomorrow.
Signature loans are loans that can be used for basically anything. They don’t require collateral at all, in fact the whole point of this type of a loan is getting the funds you need in exchange for ‘signing’ (agreeing that you will pay the loan back). People use signature loans for everything: buying groceries, paying off credit cards, plastic surgery, vacations, and more. Since you aren’t providing collateral when you take out signature loans, your credit score and income are what determine whether you can get approved for a signature loan or not.
