Cash loans have been lending a helping hand to cash-strapped people ever since anyone can remember. With cash loans, you can solve financial emergencies in a jiffy as they are quick and easy to avail.
But did you know there are several other ways you can use your cash loans aside from emergencies? In this article, we are going to discuss the three ways you can use and maximize a personal loan without maxing your credit limit.
They say modern problems require modern solutions. And in this day and age, there are – thankfully – plenty of modern solutions for the age-old problem of “just not having enough cash”.
One such solution is availing what they call a cash loan. A cash loan is typically a short-term, non-collateral loan that you can use for a number of purposes. It often does not normally involve large amounts of funds. However, its accessibility and flexibility are what makes it valuable to people.
But aside from dealing with emergencies, cash loans can also be used in a number of creative and inspired ways that can help you deal with your finances better.
CASH LOANS FOR CONSOLIDATING DEBTS
One of the most popular ways of using cash loans is consolidating minor, high-interest debts. Why is this the most popular, you ask?
Having multiple small, active loans are bad for your credit score. It also can cause major stress in your psyche. Too many creditors calling you up and reminding you of your due dates can stress you out and discourage you from continue paying for your loans. This is not a good sign.
But cash loans can help you consolidate all these small, active loans into one active loan that is easier to manage.
This is how it works: Upon deciding on the best cash loan for you, avail for a loan that is equal to the total amount of your active loans. Once that has been approved, pay all your existing loans with the money from the cash loan. Now all you have to take care of is the regular repayment of your cash loan!
CASH LOANS FOR MINOR HOME IMPROVEMENTS
Summer is fast ending and before we know it, the rainy days aka flood days are upon us again – is your house ready?
One of the most common unexpected expenses in a Filipino household is home improvements. Our homes protect us from harsh external elements and keep our family safe and together, so it’s important that we keep our homes in tiptop shape!
And whether you’re in need of a semi-major overhaul or just enough cash for a minor repair, there’s always a cash loan available for you.
CASH LOAN FOR MEDICAL EMERGENCY
Life is unpredictable and nothing drives this point home more than a surprise medical emergency. One day you’re okay, and the next you find yourself scrambling to cover an important but unexpected expense.
Expenses like this obviously cannot be postponed for another day. And when you find that your insurance or savings can’t cover the entirety of your medical bills, you may find that an emergency cash loan can save the day.
CASH LOAN FOR BUSINESS INVESTMENTS
Thinking of starting your own business? While a full-blown business loan can help you take your existing business, you still need to secure a capital before starting one.
Sure, you can always save up for your capital. But it will undoubtedly take a while before you can come up with enough for your business. And while borrowing from banks is another great option, not everyone has the credit score to get approved for one.
One great alternative is getting a cash loan. Cash loans can help cover your startup costs and help you build your business from the ground up. And because cash loans are easily accessible, it can also serve as an emergency fund for your business’ needs.
Introducing: The BillEase Cash Loan
BillEase customers can now experience the practicality and reliability of a cash loan via our newest feature! With the BillEase Cash Loan, you can withdraw your cash out limit to straight-up cash via your preferred bank account or coins.ph account.
What’s more, you can get this cash loan at the same affordable interest rate that you know and love!
Access is currently limited to a handful of pre-selected BillEase customers. But we are constantly rolling out the feature to more and more customers. So make sure you keep your payments updated and subscribe to our email announcements. Who knows, you might be the next to qualify for our cash loan feature!
To learn more, you can check out our in-depth discussion of the BillEase Cash Loan here.