Secured Loans Rates

Loaning from a financial institution is one thing that a majority of people experience. Because we live in a world where the prices of commodities never seem to halt, and where our salaries and our income stays in place, we can’t avoid the need of borrowing money sometimes.

Applying for a loan is never a bad thing – in fact, a majority of people do it. In student loans alone, there are about 44.7 million Americans still paying for their student loans and this is from a 2018 report. Although student loans are different, it’s a type of loan and money is owed.

So applying for a secured loan has never been a bad thing – it will only be bad if the borrower is not able to abide by the terms and the agreements set.

Overview of Secured Loans

Many people are still confused about what secured loans are and to simply give definition to it, a secured loan is a type of loan that involves a collateral, an asset on the line. This asset is something that the lender can acquire and seize should the borrower fail to follow the terms and the agreement.

That being said, a secured loan is a win-win for the lender, right? Not really. In fact, most lenders would prefer unsecured loans because they can balloon the interest rates because of the “risk” involved; and the risk being no security or collateral is in place.

Usual Rates for Secured Loans

The interest rates for secured loans differ from company to company, and even institution to institution. This actually is one of the disadvantages of secured loans – the varied rates. What you get from one company and institution could be a lot different if you go to another.

It’s not the same and in some cases, they’re far from one another. So in perspective, you really can’t base the interest rates of secured loans from a lending company from the interest rates you saw and knew in a bank.

How Can I Arrive at the Best Secured Loans Rates?

Simple – just ask and inquire. Because you wouldn’t be able to base it from each institution, what you need to do is to ask a certain company on how much the rates are for their secured loans. You might be surprised that a company offers x amount when the company offers double the amount.

It wouldn’t hurt to ask – and our suggestion is to go out there and check. It’s also going to be different depending on when you need the funds or how you plan on paying it.

For the best rates of secured loans, you can definitely bank on us here at SoFlo Funding. We are considered as the company who provides the most reasonable, the most credible, and the most affordable secured loans rates in the market.

Out of all the funding and the lending companies you know, we’re sure that we’ll be able to help you with the secured loan you’re looking for – and the rate for it as well.

Loan and Term Flexibility

SoFlo Funding can guarantee that the secured loan you’ll get will be flexible and will be more considerate in comparison to what other companies offer. In fact, a lot of our clients got a 0% interest rate on the first year of their secured loan with us!

They enjoyed it even more when they paid lesser on the interest rates after the first year! SoFlo Funding is really a good catch if you’re fishing for the best rates for unsecured loans. We can singlehandedly beat all our competitors with the rates we offer!

We never failed to amaze our clients with their requests and the loans they are looking to get – apply with us now and get a chance to experience the best rates for secured loans in the industry!