Loans for Tenants
When it comes to borrowing money for household needs, it isn't just homeowners or people who want to have their own property who have options along these lines. Even people just renting the place where they are living in have the option to get a loan, which is called a tenant loan. Tenant loans are, as the name suggests, loans that are designed for tenants. There is no collateral involved, which makes the interest you have to pay a bit high. This is one of the disadvantages of taking out a tenant loan. But you have to understand that lenders are taking a big risk in lending out money without any collateral, since tenants and renters have no fixed collateral to offer. However, during times when you sorely need funds, a tenant loan would be a great help to you. Just remember to always only owe what you can pay back. Don't try to put in other unnecessary expenses and loan the money for that too. Especially since the interest rate is very high, you need to borrow only the bare minimum. If something can wait, then let it, instead of having to pay for it and on top of that, pay interest for it.