There are many reasons people take out loans, especially if it is an easy process to apply for cash online or if a lender offers same-day funding. Short-term installment loans are a type of personal loan that can be used for many different purposes. Some of the reasons for personal loans include, but are not limited to:
- Personal medical expenses
- Automobile repairs
- Bill repayment
- Unexpected costs
- Veterinary expenses
- Home improvement
- Holidays and special occasions
- Vacation expenses
Below, we highlight five common reasons people take out loans.
Personal Medical Expenses
Medical bills can be a major expense. People may sometimes use personal loans as medical loans to pay off personal medical expenses if they don’t have medical insurance or for medical expenses that may not be covered by their insurance policy. When you have insurance, you can speak with your insurance provider to learn more about what is covered and what is not covered under your policy. You may also have the opportunity to opt-in for a payment plan for your medical expenses with your doctor. If you’re unable to pay your medical expenses with either of those options, you may be able to obtain a loan to help pay off your medical bill.
Automobile Repairs
If you’ve ever been involved in a car accident or had to make emergency repairs to your car, you may have had experience with an auto insurance company. Unfortunately, auto insurance may not cover all the necessary repairs — including mechanical repairs. You can apply for personal loans and utilize them as auto repair loans for your vehicle so you can quickly get back on the road.
Bill Repayment
You can use personal loans for bills if you need help covering some of your payments. We know that sometimes it can be hard to keep track of bill payments. Expenses can pile up, and you may need help paying your bills on time. If you need emergency funding to pay your bills, you’re not alone. Some people opt for installment loans as a payday loan alternative for bill repayment.
Unexpected Costs
Sometimes things happen and you simply don’t have the funds to cover an unexpected expense. Lots of people struggle to pay for emergency expenses with their savings accounts alone. Sometimes, people use loans for bill payoff. If you’re still trying to build an emergency fund or teaching yourself how to budget for financial success, taking out a loan for an unexpected debt may help in the meantime. Many lenders offer same-day funding or next-day loans so you can cover unexpected expenses as soon as they arise.
Veterinarian Expenses
We know your furry one may be your best friend. It’s important to make sure you’re keeping up with their health status. In the same way that humans need checkups, so do animals. Sometimes, you may run into an emergency where you must take your animal to the vet as quickly as possible. You should never have to wonder about how to pay for vet bills. If you can’t afford to pay for veterinary bills, you may have the option to choose veterinary financing. However, sometimes these offices don’t offer these types of plans. People sometimes apply for personal loans to cover vet bills to make sure they have the funds they need to keep their pets healthy.
If you’re in a financial bind and you need emergency funding, you can lean on the support of an installment loan. At Blue Trust Loans, we’re a reputable lender offering cash loans online of $3,000 or less, which may cover any of these reasons to get a loan. You may be able to obtain an installment loan as soon as today.* For more information on quick loans, emergency funding, or the Blue Trust loan loyalty rewards program, contact us today at 877-770-2682. We’re here when you need us, 24-7.
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*Same Day Funding is available on business days where pre-approval, eSignature of the loan agreement and completion of the confirmation call, if a call is required, have occurred by 11:45 a.m. Eastern Time and a customer elects ACH as payment method. Other restrictions may apply. Certain financial institutions do not support same day funded transactions. When Same Day Funding is not available, funding will occur the next business day.
The content on this site is for informational purposes only and is not professional financial advice. Blue Trust Loans does not assume responsibility for information given. All information should be weighed against your own abilities and circumstances and applied accordingly. It is up to the reader to determine if this information is safe and suitable for their own situation.
Hummingbird Funds, LLC is a sovereign enterprise, an economic development arm and instrumentality of, and wholly-owned and controlled by, the Lac Courte Oreilles Band of Lake Superior Chippewa Indians (the “Tribe”), a federally-recognized sovereign American Indian Tribe. This means that the Hummingbird Funds’ installment loan products are provided by a sovereign government and the proceeds of our business fund governmental services for Tribe citizens. This also means that Hummingbird Funds is not subject to suit or service of process. Rather, Hummingbird Funds is regulated by the Tribe. If you do business with Hummingbird Funds, your potential forums for dispute resolution will be limited to those available under Tribal law and your loan agreement. As more specifically set forth in Hummingbird Funds’ contracts, these forums include informal, but affordable and efficient Tribal dispute resolution, or individual arbitration before a neutral arbitrator. Otherwise, Hummingbird Funds is not subject to suit or service of process. Nothing in this website is intended to waive or otherwise prejudice Hummingbird Funds’ entitlement to these protections. Neither Hummingbird Funds nor the Tribe has waived its sovereign immunity in connection with any claims relative to use of this mobile site. If you are not comfortable doing business with a sovereign instrumentality that cannot be sued in court, you should discontinue use of this website.