River Valley Loans

www.rivervalleyloans247.com/

One benefit of a personal loan is that it lets you repay a large sum over a longer period of time. Repayment terms vary by lender but can typically be as short as one year or as long as seven years for the most qualified borrowers.

Another key benefit is that you can receive quick funding — some lenders can issue your loan funds as soon as one business day, especially if you fill out the application online.

However, a major downside is that if you have a less-than-stellar credit score, you may have to pay a high annual percentage rate (APR) — interest plus fees. Some lenders also have origination fees and maximum APRs greater than 30 percent.