Pros and Cons of Flex Loans

iQuanti: Do you need to borrow money fast? Flex loans, which are a great option for those with poor or fair credit, often have quick approval processes and are easy to apply for. Let’s dive deeper into what flex loans are and their pros and cons so you can decide whether this loan option is right for you.
What is a flex loan?
A flex loan, or an unsecured line of credit, gives you flexible access to cash. The borrower is given a set limit of funds, rather than a fixed amount, that they can use as much or as little as they might need. With flex loans, you’ll only pay interest on the money you borrow. Since this type of loan is unsecured, you don’t have to use your car or house as collateral, and eligibility requirements tend to be more relaxed.
Pros of getting a flex loan
Flex loans are a good option for several different reasons, including:
Cons of getting a flex loan
Here are the cons of getting a flex loan:
The bottom line
Flex loans are convenient, easy to get, and a good fallback option for people who can’t rely on a steady income throughout the year. They’re also a great option for special projects, like home repairs, where unexpected expenses can pop up. You don’t need great credit to get approved, so consider flex loans if you need access to cash right now.  
Notice: Information provided in this article is for information purposes only. Consult your financial advisor about your financial circumstances.
Source: iQuanti, Inc.