There are tens of thousands of options for small loans. Between store fronts and online lenders, there has never in history been so many choices when it comes to borrowing money. But how do you weed out the scams, the fakes, and the shady lenders to find the best small loans?
No matter where the loan comes from, or who is doing the lending, the best small loans all have the same qualities in common.
Transparency
Most small loans have similar rates, interest, and fees. There is some variance, but industry standards prevail.
More important than the interest rates is the ability for a lender to be clear, concise, and up front with these rates and fees. The best small loans give the borrower all the information, down to the penny, in writing so there is no confusion.
Without complete information, a borrower cannot make an informed choice. Without transparency in the process, the clients run the risk of being fleeced.
Demand transparency!
Responsiveness
With so many financial options to explore, who has time to wait?
The best small loans are the most responsive lenders. These are the businesses that give you lighting fast responses. Not an hour, not a half an hour, but immediate response to your inquiry.
It doesn’t matter if it is a loan application, a customer service issue, or even a request for information, it should happen quickly. When a lender demonstrates responsiveness, it shows the borrower that they are important, that they matter.
You are important, and your time is valuable. Demand responsiveness.
Service
Competence, knowledge, being polite and easy to talk to – these are the best aspects of good customer service. How a business and its representatives treat their customers and potential customers says a lot about that organization.
Why would anyone want to borrow money from a company with rude call-takers, or loan experts who don’t understand the loan process?
The best small loans have the best customer service.
Demand service!