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Is It Possible To Get A $5000 Loan In Less Than 24 Hours

Posted on September 14, 2010
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A $5000 loan is one of the most commonly sought after loans online.  This fact is the principal reason why I set up this site because I wanted to provide a resource that ensured that folks looking for 5000 loans would know where to look for lenders, what to look for in lenders and generally ensure that their chances of getting hold of a 5000 cash advance was as high as possible, but also at the right price.  I say price, because although it is easy to think of lending being different from say, purchasing a refridgerator, the fact of the matter is that loans will cost you money; you are prepared to shop around to find the best priced refridgerator that you can find, so why is it that many folk simply don’t do the same thing when it comes to borrowing money?

The first thing that you need to accept is that no matter how urgently you need the money, there are very few lenders out there, in fact I would suggest there are in fact none, that will be prepared to lend you a $5000 loan on the sameday.  These types of loan are not typically payday loans where you can indeed get cash advances very quickly.  A $5000 loan is simply too much money in one block for a lender to hand over the cash without undertaking some checks on who you are, where you live and whether you earn what you say you earn.  After all, they will want their money back so these checks make quite a lot of sense from the lenders perspective.  So, don’t be fooled into thinking that online advertisments that say something like “Quick $5000 loans here” or “Get your fast $5000 loan now” are actually committing to delivering the cash in less than 24 hours.  This is most unlikely.

The other aspect to remember when trying to get hold of a fast 5000 loans is that even if the lender was capable of actually delivering the loan in that sort of time frame, there is a very good chance that their perception of such a borrower is one of desperation and desperate borrowers will often accept rates of interest that are significantly higher than those who are prepared to take their time and shop around.  The irony is of course that such borrowers are just the sort of folk who can least afford the higher rates of interest.  There is an unchallenged dark side to the lending industry where such behaviour is recognised, but it is also tolerated as profit tends to override any moral viewpoint that may be held.

The fact of the matter is that if you are in need of a $5000 loan and you need the money in less than 24 hours then the best place to get hold of it is probably through a cash withdrawal on a credit card.  You will pay a heavy price for cash withdrawals on credit cards of course; these can typically be 2% of the principal just for the privelage of making the withdrawal and not even taking into account the interest that will be required to be paid on the capital over the course of the loan repayment period.  But, the cash will be in your hands in very short order.  In case you ever find yourself in this position it is good advice to get hold of a credit card, use it infrequently and always pay it off, where the credit limit is sufficient to make a loan of this size.  Then if you urgently need cash it is there quickly and you can then seek a less expensive method of borrowing the $5000 loan and use that borrowing to pay off the emergency 5000 loan that you have taken out on the credit card.  This is good advice and you should pay it some heed.

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    Hi Guys. I've set up this site as a sort of information portal providing what I hope is really useful information about getting hold of a 5000 loan which is perhaps the most popular amount for any personal loan. I've tried to make the site interesting but if you have a problem with anything on the site then feel free to drop me a line using the contact page.
     
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