Evaluate your lender

There are lots of non-bank lenders and lots of different services. Before using them, it is important to understand the specifics of your need and to compare loan providers. There tend to be differences in terms of repayment terms, maximum and minimum loan sums and, of course, commission fees.

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As is the case with service providers in other areas, lenders will not always offer services at a quality level that is acceptable to you. Before borrowing money, definitely do an evaluation of different proposals. Compare interest rates and all of the terms of the loan.

Contact the lender’s consumer services specialists to ask about other costs that relate to the short-term loan. The ability of those specialists to answer your questions will help you evaluate the lender’s professionalism, to decide whether you want to take out a loan from the lender that you have contacted or look for another offer.

Ask your friends and acquaintances about their experience with the specific lenders.