With such a big variety in loan services, it can be a bit overwhelming trying to choose the right option for you. For residents of Mississippi, Loan Ridge is your best and most economical option. Taking a look at the line of credit compared to Loan Ridge’s other services, you can see there are a few unique features that might help you decide:
Flexible Income, Anytime – Unlike many of our other loan options, instead of providing you with a lump sum a line of credit gives you a flexible cash pool that you can dip into at any time. You don’t actually take any money from us until you need it.
Limited Interest Rates – Instead of receiving interest on your entire line of credit, you only receive interest on what you take out of your pool. This can give you access to a large amount of money without having to worry about interest on most of it!
Lower Ceiling for Borrowing – You can take out a line of credit as large as $1,000 with Loan Ridge- this is smaller than our typical $2,000 limit, making lines of credit a great option for younger borrowers or youth looking to build their credit score. Are you a parent concerned about your young adult’s credit score, but want them to learn financial responsibility and start building credit? A Loan Ridge line of credit can be a great way to begin if they need money fast!
Fast Approval for Everyone – All eligible borrowers can get approved in times as low as 30 minutes, and our application process only takes less than 5 minutes to complete. If you’re looking for a line of credit, Loan Ridge is your best choice for fast, efficient service in a supportive, safe environment.
Ready to Go, for Any Scenario – Unlike many of our other loan options, you can receive a line of credit before you need the money. If you are expecting the unexpected, or preparing for the inevitable, a line of credit is a great way to have money at your fingertips without paying interest. Your pool of cash will be ready and waiting long before your expenses appear, and when they do, you’ll be ready to dip into your new emergency fund from Loan Ridge.
No Need to Reapply – With some types of loans, you need to re-apply every time you want to borrow more money. But with a line of credit, your borrowing power is always the same, so there’s no paperwork hassle. Take from your line of credit each month, or don’t! You don’t have to use the money if you don’t want to, and your line of credit will stay open for up to one year without use before being closed.
Cash Flow Management – This is a hands-down favorite for our online lenders. It’s a line of credit in the truest sense, because your level of cash flow management is at your fingertips. You can borrow money in advance or when you need it, and if you don’t end up using the funds from your line of credit, there’s no interest!