Loans Similar To Kashable. Sometimes, life can throw unexpected financial challenges our way. Your car may break down, or you may need to pay for medical expenses. Whatever the reason, there may be times when you need quick access to cash.
That’s where Kashable Loans comes in. Kashable is a fintech company that provides loans to employees of certain companies. The loans are designed to be affordable and accessible, with lower interest rates and flexible repayment options.
However, Kashable is one of many companies that provide this type of loan. This blog post will look at some of the alternatives to Kashable Loans and help you find the best loan for your needs.
What are the Alternatives to Kashable Loans?
Several loan providers offer loans similar to Kashable. These include Earnin, PayActiv, TrueConnect, Best Egg, Upgrade, and LendingClub. Each of these companies provides loans that are designed to be affordable and accessible, with quick approval times and flexible repayment options.
1. Earnin
Earnin is a mobile app that allows you to access your paycheck early. You can get up to $500 per pay period, and there are no fees or interest charges. Instead, Earnin relies on tips from its users to keep the service running.
2. PayActiv
PayActiv is another app that allows you to access your paycheck early. You can get up to 50% of your earned wages, up to a maximum of $500 per pay period. The service is free for employees, and there are no interest charges.
3. True connect
TrueConnect is a loan program offered by Employee Loan Solutions. The program is designed to provide an affordable alternative to payday loans. Employees can borrow up to $3,000, with repayment terms of up to 12 months. Interest rates are capped at 24.9%, much lower than the rates many payday lenders charge.
4. Best Egg
Best Egg is an online lender that offers unsecured personal loans for various purposes, such as debt consolidation, home improvement, or medical expenses. The loan amount ranges from $2,000 to $35,000, and the repayment terms vary from three to five years. Best Egg has gained popularity for providing loans with quick approval times and lower rates than other lenders.
5. Upgrade
Upgrade is an online lender that offers personal loans for various purposes, such as debt consolidation, home improvement, or medical expenses. The loan amount ranges from $1,000 to $50,000, and the repayment terms vary from 36 to 60 months. Upgrade has gained popularity for providing loans with quick approval times, lower rates than other lenders, and free credit monitoring services.
6. LendingClub
LendingClub is a peer-to-peer lending platform that connects borrowers with investors. They offer unsecured personal loans for various purposes, such as debt consolidation, home improvement, or medical expenses.
The loan amount ranges from $1,000 to $40,000, and the repayment terms vary from 36 to 60 months. LendingClub has gained popularity for providing loans with lower rates than traditional lenders.
Similar Loan Providers to Kashable
In addition to the companies mentioned above, a few other loan providers offer loans similar to Kashable. These include SalaryFinance and Brightside.
1. Salary Finance
SalaryFinance offers loans to employees of certain companies. The loans are designed to be affordable and accessible, with lower interest rates and flexible repayment options. The company also offers financial education resources to help employees improve their financial well-being.
2. Brightside
Brightside is another loan program offered by Employee Loan Solutions. The program is designed to provide an affordable alternative to payday loans. Employees can borrow up to $500, with repayment terms of up to 6 months. Interest rates are capped at 36%, much lower than the rates many payday lenders charge.
Benefits and Drawbacks of Kashable’s Competitors
While all of the loan providers mentioned above offer loans that are designed to be affordable and accessible, each has its own set of benefits and drawbacks. Here’s a closer look at what each company has to offer.
1. Earnin
Benefits
- No fees or interest charges
- Quick approval times
- Access to up to $500 per pay period
Drawbacks
- Relies on user tips to keep the service running
- Limited to employees of specific companies
- Can only access up to $500 per pay period
2. PayActiv
Benefits
- No fees or interest charges
- Quick approval times
- Access to up to 50% of your earned wages
Drawbacks
- Limited to employees of specific companies
- Can only access up to $500 per pay period
- Requires your employer to sign up for the service
3. TrueConnect
Benefits
- Affordable alternative to payday loans
- Borrow up to $3,000
- Repayment terms of up to 12 months
Drawbacks
- Limited to employees of specific companies
- It may not be available in all states
- Interest rates are still higher than some other loan providers.
4. Salary Finance
Benefits
- Low-interest rates compared to other lenders.
- Flexible repayment terms from six to 60 months.
- No origination fees, prepayment penalties, or hidden fees.
Drawbacks
- It is limited to employees of select companies.
- Longer processing times than other lenders.
- Requires employer approval for payroll deductions.
5. Best Egg
Benefits
- Quick approval times.
- Competitive rates compared to other lenders.
- No prepayment penalties or hidden fees.
Drawbacks
- High origination fees compared to other lenders.
- Limited loan amounts compared to other lenders.
- Requires a minimum credit score of 640.
6. Upgrade
Benefits
- Low-interest rates compared to other lenders.
- Free credit monitoring services.
- No minimum credit score requirement
- Fast approval process
- Flexible repayment terms
- You can add a co-signer to increase your chances of approval.
Drawbacks
- High-interest rates
- High origination fees
- High late payment fees.
8. LendingClub
Benefits
- Competitive interest rates
- Fixed monthly payments
- No prepayment penalties.
Drawbacks
- Strict credit score requirements
- Potential for longer processing times.
9. Brightside
Benefits
- Convenience
- Competitive rates
- Flexible repayment options
Drawbacks
- Limited loan amounts
- Strict eligibility requirements
- Potentially high fees
How to Choose the Right Loan for You
The following are ways to choose the right loan for your consumption:
- Determine your borrowing needs and budget.
- Research and compare loan options.
- Consider the loan’s interest rates, fees, repayment terms, and eligibility requirements.
- Check your credit score and financial situation.
- Apply for the loan that best fits your needs.
Conclusion: Finding the Best Loan for Your Needs
Consider the benefits and drawbacks of different loan options. Choose a loan that fits your borrowing needs, budget, and financial situation.
Read the loan agreement carefully before signing, and be aware of any hidden fees or penalties. Make timely payments to avoid any negative impact on your credit score. So, with all these, you are on the right track to deciding your financial life.
