What is a Signature Loan?
Signature loans are a solution for many. Due to the unsecured nature of the loan, signature loans do not require collateral like a home or a car. This guide from Desert Rock Capital will walk you what is a signature loans,
Signature loans are often referred to as Signature Lines of Credit. This type of loan could be an ideal solution if you’re looking for a straightforward way to borrow money. By understanding how signature loans work, you can use them to enhance your understanding
A signature loan is an unsecured loan which can be obtained from a consumer lending company such as Desert Rock Capital. The nature of the loan is one that requires your signature. Unlike secured loans or other loans that require credit check For borrowers with low credit, no credit, or even past bankruptcies, signature loans simplifies the application process
At Desert Rock Capital, our signature loan process takes approximately 30 minutes from application submission to decision. We understand that our clients may need a loan for paying rent, funding a personal project, or paying an unexpected expense. Our simple application process with no additional fees is why so many of our customers prefer Desert Rock Capital’s services.
Eligibility Criteria for a Signature Loan
To qualify for a signature loan, most lenders, including Desert Rock Capital, requires documents verifying income, identity, and residence and various other items. Desert Rock Capital only operates in Utah, meaning that residence in the State of Utah is required. Unlike other loans, a credit score is not required
Benefits of a Signature Loan
One of the main benefits of a signature loan is its simplicity. Since these loans are unsecured, you don’t have to go through the process of valuing assets as collateral. This can make the application process quicker compared to secured loans. Signature loans also provide fully amortized payment periods, where the interest rates are fixed and there are no balloon payments.