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Sep 28, 2017 - 34 minute read

What does a personal loan mean

Unlike other types of financial obligations, a personal loan provides the freedom to use the funds as needed. Most of the time, the lender wants to know what the money will be used for, to make sure you are making a sound decision. However, you can use the money to consolidate debt, make upgrades to your home's infrastructure, or use it for almost any other purpose. People need this type of loan, both the short term and the long term version, because they do not have access to cash any other way.

Some people benefit from it more than others do. You may not need it if you can get a less expensive loan offer. However, if you cannot, it is a decent option to explore. It provides you with access to funds without needing to present collateral.

Additionally, since it is not backed by your home, if you do default, you do not lose any assets in the process. This can make what does a personal loan mean less of a risk to the consumer.

What does a personal loan mean

In business, you need the flexibility to respond when opportunity knocks. With our easy application and fast approval process, Rapid Loans means you can say yes when a business opportunity arises.

After you apply, you will work with a dedicated loans consultant to make sure you get the right loan and get it fast. Proudly Australian-owned and operated, Rapid Loans is committed to helping business-owners across the country realise their dreams and grow their companies. Whether for inventory to fulfill a big order, or to help you purchase mission critical plant and equipment, we can provide the money you need.

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What does a personal loan mean

Justice French pointed out that [p]ursuant to R. 1321. 36(A), no person may make a short-term loan to an Ohio borrower without first obtaining an STLA license, but R. 1321. 35(A) defines short-term loan narrowly as a loan made pursuant to the STLA. Thus, there is no language in the STLA that requires a lender to be licensed under that act before making a payday-style loan, she continued. Had the General Assembly intended the STLA to be the sole authority for issuing payday-style loans, it could have defined short-term loan more broadly.

[Ohio Neighborhood Finance] is not licensed under the STLA and is, therefore, not entitled to make short-term loans pursuant to the STLA, Justice What does a personal loan mean wrote. But the loan here was not an STLA loan; it is undisputed that the STLA would not permit the subject loan, because its terms contravene the STLAs requirements regarding the loan term, interest, and fees.

What does a personal loan mean
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