Loans

What is a personal loan?

A personal loan is a fixed amount of money borrowed from a bank or financial institution, which is repaid over time with interest. It can be used for various purposes such as home improvements, debt consolidation, or unexpected expenses.

Personal loans typically have fixed interest rates and repayment terms, making budgeting easier and providing financial flexibility.

  • Flexible use of funds for personal needs.
  • Fixed interest rates and monthly payments.
  • No collateral required for unsecured loans.
  • Can improve credit score when paid on time.

Types of personal loans

1

Standard personal loans

Traditional loans offered by banks or credit unions with fixed interest rates and set repayment terms, typically requiring credit checks and proof of income.

2

Online lenders

Loans provided through online platforms that offer fast approval and funding, often with flexible qualification criteria and competitive rates.

3

Specialized lenders

Lenders that focus on niche markets or specific borrower profiles, such as small business loans, debt consolidation, or loans for individuals with less-than-perfect credit.

What is a business loan?

A business loan is a sum of money borrowed from a bank or financial institution to fund business activities such as expansion, inventory purchase, or operational costs. It helps businesses grow and manage cash flow effectively.

Business loans often come with flexible repayment options and may require collateral depending on the lender and loan type.

  • Provides capital for business growth and operations.
  • Various repayment terms tailored to business needs.
  • May require collateral or a personal guarantee.
  • Helps build business credit when payments are timely.

How do I apply for a loan?

1

Understand the application process

Learn about the necessary steps and documentation required to apply for a loan with us.

2

Complete your application within 30 minutes

Submit your loan application quickly and easily online or at any of our branches.

3

Receive a decision within 24 hours

Our team will review your application and get back to you with a decision promptly.