The Cathford Group Credit Inc: What is a personal loan?

What is a personal loan?

A personal loan allows any consumer to get a cash loan. Usually, the borrower gets a certain loan amount (the principal) from a lender and pays it back with additional cost (interest rate including any loan fees). Repayments are done in regular installments over the stipulated loan period. Personal loans can be often unsecured, that is, they do not ask the consumer to put up a collateral asset (such as a deed of ownership to a car or a home).

These personal loans are usually designed as loans payable on terms within a specific period of time. The amounts and terms of the loan may vary widely, depending on the location and the lender. At The Cathford Group Credit Inc., our objective is to ascertain that you derive the best loan arrangement we can provide, according to your actual financial and credit condition.

The rates of interest rates for these credit loans are often set by the lender and can differ as to certain, such as the borrower’s credit standing and the amount and schedule of the loan asked for. Interest rates will commonly be set during the duration of the loan and computed as an Annual Percentage Rate (APR). If you are eligible for a The Cathford Group Credit Inc. Loan, we can arrange to provide you with our lowest possible rate suited to your required loan amount and financial qualification.

There are no detailed restrictions on the intended purposes of your loan. Oftentimes, personal loans are needed to take care of emergency expenses, big purchases such as a home or car, or to restructure another loan. We recently made a survey of more than 1,000 consumers and discovered that a majority of people use a loan to buy a new car.

To find out the amount of loan you can get, check out our online personal loan application form to determine how you can qualify for a personal loan or contact one of our representatives at your convenient time for any question you may have.

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