How to Finance Your Makeover

If you have just landed the job or your dreams, you need to look your very best when you walk through the door of your new job on day one. So now you have searched high and low in your closet for something, anything that you can put on your body that does not look it came out of the 1980’s, and there is nothing. You now have come face to the face with the fact that your wardrobe is horrible, and that you need to buy yourself some clothing that is not going to make you look like a Donna Summer reject. There is just one problem, you have no money. There are funding options to help you fund your makeover. Here are a couple of options for you to review. Choose one and bring your style into the new century.

Unsecured Personal Loans

These types of loans are granted without the borrower having to put up any property or collateral to secure it. Unsecured loans are a fantastic deal for borrowers, because they assume none of the risk associated with the loan, the lender on the other hand, assumes all of the responsibility for the loan. Unsecured loans sometimes have higher interest rates  than secured loans.

Signature Loans

Signature loans are the most standard type of unsecured loans, and one of the best types of loans to improve your wardrobe that you can get, because your signature is your security for the loan, as it represents your promise to pay. Generally banks and credit unions offer these loans, and just as in the case of personal loans, you can use the money for anything that you want. Signature loans amortize over a period of time, when you borrow you make a fixed monthly payment until you finish paying off the loan. Signature loans are also helpful; because they can help you build your credit profile.

Peer to Peer Loans

These types of loans allow you to borrow from individuals instead of a bank, or other traditional lender. There are multiple websites that let you post your loan request, and you wait to see if you get a response. Individuals have a choice as to whether or not they choose to fund your loan or not. Peer loans are also fixed rate loans. They have competitive rates, and allow you to borrow large sums of money if you need it.