Looking for an Unsecured Personal Loan in Kentucky?
When you found yourself in need of cash, where did you turn? Did you try payday lending and it only got you stuck in a cycle of having to keep taking out more payday loans? If you find yourself in need of money again (or now), don’t turn to those lenders who charge 300% – 500% interest! Turn to Loans Now to find the cash you need. Through our Loan Discovery Process, we can get you the money for the situation you are facing. And we do it without triple-digit interest rates.
You can see How It Works — how we help you in your time of disparity — then fill out our quick questionnaire; it only takes 60 seconds to complete and get the process started. With a dedicated team member to help you, we can find you a solution in as little as 5 minutes! These are not solutions that require you to repay the loan by next week. They are not financing options that cost you five times as much as the borrowed amount. Loans Now presents to you viable, long-term repayment options with low-interest rates for an unsecured personal loan.
Unsecured Loans for People with Bad or No Credit
When you turn to Loans Now for an unsecured personal loan, we provide you with solutions to your current credit situation. The money you receive — which can be available in as little as 24 hours — can be used for any number of reasons, including if you are:
- Behind on rent
- Overdue on utility bills
- Owing creditors for medical procedures
- Wanting to consolidate your credit card debt
- Wanting to create an emergency fund
- Starting a side business
- Needing to move for employment opportunities
When you have bad credit, you may find it difficult to get a personal loan. This may tempt you to use payday lenders to help you through the problem at hand. Don’t rely on payday loans to fix your problems, they will only create new ones. Loans Now works with people who have bad credit. In fact, we help people with credit scores as low as 450 (check your credit score to see where you stand) and find the options to fix the problem they are trying to solve. We can discover solutions with amounts as high as $70,000 and with no up-front credit checks, protecting your credit score from further damage. The lenders we work with have the money to help you, so let us find you the money you need to get back on your feet.
The Commonwealth of Kentucky ranks as the 3rd worse in the country for employment. It had no considerable job growth in 2017 and no real improvement through 2018. That is partially the reason why nearly 19% of the population in Kentucky is below the poverty line. With no opportunities opening up for new jobs or better jobs, Kentuckians are finding it difficult to just pay their bills. This causes a lot of stress, on both the body and mind, struggling to make sure there is a roof overhead, food on the table, and clothes on themselves and their children.
If you are faced with a situation where you cannot get caught up on your financial responsibilities, you are not alone. Approximately 880,000 residents of Kentucky are fighting to survive in a stagnant employment environment. Things are only going to get worse as the demand for tobacco continues to diminish as demand for the state’s top cash crop dwindles. The same goes for energy production; Kentucky is getting hit hard by the demand for renewable energy sources because it is a lead mining state for coal. Taking out a personal loan to help cover your bills due to employment struggles is a good way to give you more time to recover from the situation.
Kentucky Laws and Regulations for Bad Credit Personal Loans
Kentucky’s Revised Statutes § 360.010 sets the legal limit of interest allowed on a personal loan at 8%. This is for loans that do not specify any interest rate terms. If there is a written agreement between the lender and the borrower, then the maximum amount that can be charged to the principal per year has two options: 1) a flat rate of 19%, or 2) a formula that adds 4% to the Federal Reserve Bank’s discount rate. The determinator for which one to use is easy; it is the one that is the lesser of the two.
These rates only apply to personal loans up to $15,000. For loans taken out in amounts larger than $15,000, the state does not specify a maximum rate of interest that can be charged. For principals in this range, the interest rate should be one that both parties can agree to. Additionally, Kentucky allows for a monthly interest rate to be charged instead. For loan amounts ranging from $3,000 to $15,000, lenders are allowed to charge 2% per month; for amounts lower than $3,000 the interest rate can be 3% (§ 286.4-530).
Loans Now: Core Policies & Procedures
- Never collect or share sensitive customer information: SSN, DOB, Address.
- Never collect up-front payment to process a customer’s loan application / or fund a loan. Loans Now will NEVER ask you to send us money in any form.
- Introduce customers to our Loan Discovery Process. A one-on-one loan service strategy that fits every customer’s unique needs with the right lender for them
Kentucky Personal Loan for Bad Credit Lending Regulator
The Commonwealth of Kentucky relies on the Department of Financial Institutions to regulate lending in the state. The department itself uses the Division of Nondepository Institutions to provide for the issuing of licenses to consumer financing companies. The division also conducts investigations should a complaint be made against one of these businesses.
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K