Merits of Stock Loans.
Even if the US GDP is one of the highest in the globe, a good number of people are always struggling to make ends meet. Thus, do not be afraid to get a personal loan when you are having problems with keeping up with the bills. For those who have stock, getting a loan using that as collateral is a good option.
The great thing about stocks is that they grow in value every passing day without much effort and with such you will be able to raise a lot of money through the stock loans. This will enable you to pay for whatever emergency you have at hand. It will be a reason to smile when things are falling apart. Additionally, the interest rate is fixed for the life of the loan which allows you to plan ahead on matters to do with repayment.
The lender cannot claim anything from your stock once the debt is settled. What this means is that any appreciations in stock realized when you were repaying the loan will be yours at the end. This is why you should settle for this option when you are in a financial crisis as opposed to selling your securities. Another merit of stock loans is that you do not need pre-qualification.
Conventional bank loans will take you in circles and give you a ton of requirements you need to fulfill before they can issue you with a loan. When it comes to emergencies, you do not want this. The stock loan will be processed in less than a day which means you can get ahead of the financial problem before things get out of hand. Also, no one will give you a hard time when it comes to making a decision about how to spend the money. When the loan has to be repaid you have the full freedom to decide where you will be spending it at.
The requirements for applying for this loan are not ridiculous like other lending institutions which makes it a good option for those who are looking for financial help. As long as you have stock you will get the loan. This is a good thing for those who have bad credit.
This is not an unsecured loan which is why the interest rates are not over the roof. Thus, servicing the loan will not leave you in further debt. In addition, you will qualify for higher loan amounts as opposed to unsecured loans. Therefore, do not feel hesitant when it comes to taking stock loans. For non marginable funds and loan stock, StockLoan Solutions have you back and you can read more here.