Even today, women are still underappreciated and experience job deprivation, although they already had recognized equal rights with men, as stated in the first version of an Equal Rights Amendment in 1923. Moreover, it has significantly affected the lives of single mothers who thrive every day to support their children. In fact, there were 14.84 million families in the U.S. who had mothers as the head of the household in 2019.
But, things worsen in 2020 as the pandemic stretches on a global scale. Almost everyone seems hopeless as they have lost their job, especially single mothers who single-handedly raise their families. Amid, there are still ways to transcend this pandemic for single moms, and one of those is applying for a personal loan with no credit check. Hence, we’ll explain to you below the benefit of this type of loan and steps on how to apply.
Fast Cash: Its Ultimate Pro
During this pandemic, it’s expected that everyone experiences financial instability. With that, it’s difficult to replenish the cupboard, pay off debts, and pull through the day without having a shortfall on the money. As a single mom, seeing your children have no food to eat or not fulfilling their needs is painful. Therefore, obtaining fast cash would be your last resort.
The guaranteed fast cash is the significant benefit you’ll receive when you apply for a loan in an online lending service, and looking for no credit check personal loans is more practical. You will immediately know the lender’s decision in just one or two and wait for one business day before the fast-cash money is transferred to your bank account.
Utilize the Money Well
Now that you have the money in your account, it’s important to keep it rolling to supply your family’s daily needs, especially that financial sustainability is vital for survival during this crisis. Hence, investing your money into something that’ll prosper in the long run, like commerce, is the most practical and effective way. And below are the current business venture ideas you might want to try at home!
● Online Food Business
Indeed, people across the globe experience limited access to food. With that said, as one of the physiological needs of human beings to continue to live, you can invest your money in an online food business. All you need here is skills, passion, and drive to succeed. It can also be a perfect activity to strengthen family ties since your children can participate during the process. You can sell cookies and healthy fruit juices, which boost the immune system.
● Online Tutor
Schools across the globe closed their doors to every learner to avoid further infection. Now that most of the learners remain at home, it’s an opportunity for you to purchase a computer set or a laptop to become an online tutor. This online job opportunity has given people who have no current job to earn money. This job is suitable for those who love teaching, even if you don’t have an education degree.
How Does a Credit Check Affect Loan Approval?
A hard credit check or hard pull immensely affects your loan approval, while a soft credit check or soft pull doesn’t even affect the lender’s decision for loan approval. Typically, when you apply for a loan, they run hard or soft credit checks on your account and other personal information such as public records and job history. But this no credit check loan application allows you to receive the money instantly. It doesn’t look for any loopholes like a bad credit record in your account.
Steps on How to Apply for a Loan on Online Lending Service
1. Look for a No Credit Check Online Loan Lending Service
While there are tons of online lending services, it’s essential to narrow down your choices because only a few offer the best loan deals. Therefore, seek an online lending service that doesn’t conduct a ‘no credit check’ for guaranteed loan approval.
2. Submit and Comply with the Requirements
● Valid Personal Information
One of the primary prerequisites for a loan application is providing your valid personal information. When filling out the application form, you must put authentic details. This online form is a record that the online lending service uses to submit to various money lending companies. Remember that any alteration of facts about your identity could lead to loan disapproval.
● Permanent Address
You must declare your permanent address so that it would be easier for an online lending service to send letter mails regarding your loan status.
● Proof of Income
The proof of income is a document that allows lending services and lenders to assess and evaluate if you can pay the borrowed money with interest according to the terms.
● A Bank Account
Having a bank account is vital when you apply for an online loan since it’s where the lender directly deposits the money.
Takeaway
Being a single mother and woman in this patriarchal realm can be difficult amid tremendous equal rights movements. You have to battle with stereotypes and deprivation and raise your kid to become a better person in the future. Without financial means, it would be difficult for a single mother to thrive, but it’s easier for her to transcend with the assistance of a loan.
