what is a signature alternative loan

Best answer


Unsecured personal loan

People also ask


  • What is a signature loan?

  • Signature loans are a type of personal loan requiring only a promise to pay as collateral. While in the past they were typically made to people with poor credit, today they are pretty much reserved for customers with better credit scores.

  • What kind of collateral do you need for signature loans?

  • The only collateral is the borrower鈥檚 signature and a promise to pay. Who are signature loans typically good for? Borrowers with good credit are typically candidates for signature loans because they have established a record of paying debts and are a low risk for defaulting. How much do people borrow with a signature loan?

  • Are You a good candidate for a signature loan?

  • Borrowers with good credit are typically candidates for signature loans because they have established a record of paying debts and are a low risk for defaulting. How much do people borrow with a signature loan?

  • What is the difference between a signature loan and revolving credit?

  • As soon as a signature loan is paid off, the account is closed, and the borrower needs to apply for a new loan if they require additional funds. In contrast, a revolving credit account allows the indebted party to repay the loan and maintain the line of credit until the borrower or lender chooses to end the relationship and close the account.

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