It may not make a lot of sense at first, but it’s much easier to find bigger loans than smaller loans. Getting a loan for a few hundred dollars is much more difficult then you would think, especially compared with getting approved for a car loan!
A cardinal rule of finance is never borrow more than you have to.
Is possible, don’t borrow money at all, but if you have to, keep it as minimal as possible.
Bigger isn’t always better. Sometimes smaller loans are just what you need.
Why Banks Want Bigger Loans
No business runs on the currency of human kindness, they need to make money! Lenders make their money on the interest charged on loans.
The bigger the loan, the longer it takes to pay back, the more you pay in interest.
So is it any wonder than lenders would prefer to make more money? Larger loans can yield thousands of dollars in interest payments over the life of the loan. Smaller loans might generate a fraction of that.
So while common sense may lead you believe that it’s easier to borrow smaller sums of money, business sense says otherwise.
Think Small, Think NSL
If you only need a little, National Small Loan is the lender you have been looking for.
We specialize in smaller loans, up to $600, that come with an easy monthly installment repayment plan. This is a financial service designed with people like you in mind – people who just need a little bit extra, but they need it quickly.
Car repairs, a trip to the ER, a birthday celebration, whatever the reason, NSL offers installment loans 24 hours a day 7 days a week.