Extra splurging is a common occurrence around the festive season, and sometimes you just require assistance finalising your plans. But with the coming new year upon us, many start to wonder about taking on bigger loans to cover any additional spending on surprise bills that may arise. And as appealing as a larger loan may seem right now, small cash loans NZ can be a sounder financial decision for you and your family.

Although there are a few advantages to choosing a long-term personal loan, there are also significant disadvantages. With these types of loans, applications will always require some collateral for banks to secure the lending process. Following this, if there are any missed repayments on long-term loans, credit scores are affected negatively – which will impact financial reputations and bring into question the reliability and trustworthiness of the borrower. This reputation can follow clients around for an extended period, making it challenging to apply for loans in the future. Finally, there is an enormous amount of stress put on applicants that request long-term loans from banks; if approved, it can become a financial burden for the long-term.

Here are some of the advantages of applying for a small-term loan instead of taking on a larger overpayment long-term loan.

No Long Queues

Instead of filling in application forms with banks for long-term loans, going back and forth and providing multiple documents, the application process for a small cash loan in NZ is simplified. The process is explained clearly with Acorn Finance and follows four easy steps. Beginning with the application which is done online, for the benefit of the applicant. This is then followed by the verification step, evaluation and finally payment.

Almost Instant Feedback

We assure every client of a quick turnaround on applications. Once you have met our lending criteria, provided relevant documentation, we work fast to evaluate your application and can sometimes payout within 60 minutes of approval. This timing differs drastically to banks offering long-term loans, where they can be much slower in evaluation and approval or even providing feedback for declined loan applications.

Clear Explanations

Banks often forgo thoroughly explaining long-term loan conditions and costs to clients in a clearly understandable manner. This can be confusing and sometimes overwhelming, where clients may feel pressurised into accepting the loan without even understanding every cost. As small cash loan providers, we strive to provide applicants with clarity of their loan. There are no hidden costs, no changing terms and complete communication.

Small cash loans in NZ have come a long way in providing convenient solutions with simple application processes that are easy to comprehend, quick to process and make payment. Before considering the advantages of receiving a bigger payment for a longer period, consider the implications of having a repayment term spread over many years. With so many uncertainties in life, can you guarantee a repayment every month? Contact us today at Acorn Finance to see how we can help you.