When unexpected expenses arise, a small personal loan or a flex loan can be a helpful solution. Whether it's a medical emergency, urgent car repair, or overdue bills, having access to fast cash can prevent financial stress.

In this guide, we’ll cover five common reasons why you may need to apply for a small personal loan and how a flex loan can help.

What Is A Flex Loan?

A flex loan is a type of revolving credit that allows you to borrow money as needed up to a set limit. Unlike traditional personal loans, a flex loan lets you:

• Withdraw only what you need.
• Pay interest only on the borrowed amount.
• Access funds multiple times without reapplying.

Considering a flex loan? Learn more about flex loans here!

5 Urgent Reasons To Apply For A Small Personal Loan

1. Unexpected Medical Expenses

Unfortunately, due to high healthcare costs in the US, most Americans would need some kind of financial assistance to cover an unplanned visit to a medical professional.

In fact, many even decide to postpone the visit to save cash up – often leading to a minor problem exacerbating with time and costing more money to fix overall.

If there are certain health problems you’re experiencing and have no cash to cover them, then you’re warranted to want to apply for small personal loan right away. Nothing is more important than your health. 

2. Unplanned Moving Costs

Moving is usually something we see as pre-planned, often months in advance. So suddenly having to move can have us thrown off balance.

It’s just not a line of expense most people anticipate – and even if you’re moving locally and don’t have to cross state lines, it’s still likely to cost you hundreds of bucks. This means that getting a small loan is quite justified in this situation.

3. Urgent Home Repairs

Being a homeowner is a lot of work. For example, if there’s anything that needs fixing, you can’t just call your landlord and ask them to fix it. And most of the house repairs that unexpectedly pop up cannot be delayed without risking escalating the problem.

If you have a leaky roof, a clogged toilet, a broken lock, or a faulty electrical system you need to call a professional to help out as soon as possible. Otherwise, you’re risking having to spend even more money down the line to make the house safe again.

4. Emergency Car Repairs

Similar to urgent house repairs, urgent car repairs are a completely justified reason to apply for small personal loan.

Of course, if you have the luxury of simply leaving your car in the garage while you’re getting the cash together, you may not need a loan at all. But most of us who cannot commute to work, otherwise we would be putting ourselves (and others!) in danger by getting into a faulty car.

5. Overdue Bills & Utility Payments

Overdue bills are a good example of a situation when all options have been exhausted and the deadline has passed.

They need to be dealt with as soon as possible to prevent further late fees from accumulating and stop their damage to your credit score. If the only way you’re getting the cash to cover them is to apply for small personal loan, you’d be warranted in doing so.

Should You Apply For A Small Personal Loan?

A small personal loan or flex loan can be a great option when:

• You need fast cash for an emergency expense.
• Other options (savings, borrowing from family) are not available.
• You have a clear plan to repay the loan on time.

Pro Tip: Only borrow what you need to avoid unnecessary debt.

How To Apply For A Flex Loan Or Small Personal Loan

Applying for a flex loan is quick and easy! Here’s how:

Step 1: Fill out our online application form.
Step 2: A loan representative will contact you.
Step 3: Provide the following required items:

• A government-issued photo ID (must be 18+).
• Proof of income (recent pay stub).
• Bank statement from an active checking account.
• A blank check from the same account.

Step 4: Get approved and receive your cash the same day or next business day!

Need fast cash today? Apply for a small personal loan now!

Is A Flex Loan Right For You?

There you have it, if you are looking to apply for small personal loan and you have the reason to do so, then you can consider getting a flex loan.

Tennessee Title Loans, Inc. saves you the search for flex loans near me – you can get started online from the comfort of your own home by submitting our short form today!

Need cash fast? Get started with a Tennessee flex loan today!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.