Home to the breathtaking world wonder of the Grand Canyon, and sitting under a shining sun 85% of the year, Arizona is home to over six million sun-loving Americans. With densely packed cities like Phoenix and Tucson, as well as vast deserts and forests throughout the state, Arizona has something to offer for every type of person. In the same sense, America Loan Service has something to offer for every type of person as well. With our quick and easy lender connection system, we can help you find the perfect unsecured personal loan or secured loan to help with any financial need under the sun.

While the Arizona state government does have some usury laws in place for non-contract loans, any interest rate can be used as long as it is agreed upon by both parties. While this does result in some companies pursuing ever higher interest rates on desperate consumers, the state has final say in whether a proposed interest rate is too high. This means that while finding a personal loan in Arizona can sometimes lead unaware consumers into predatory lending traps, the courts tend to be supporters of the debtor and can charge outlandish debtors with violating usury laws.

Arizona finds itself almost directly in the middle of average household income by state, with people of many different financial backgrounds making up their population. For those who find themselves with a good credit score and relative financial stability, a personal loan can be used to help with any project or expense on your plate. Perhaps its time to for a major home renovation or purchase a top of the line climate control unit to deal with sweltering hot days, or even get an early jump on a passion project that needs a little bit of financial help. Whatever the situation, we can present a range of lenders so that you can find the perfect loan for your needs.

Perhaps you find yourself in the largest age bracket of Arizona, those just getting settled into the workforce, buying your first home,  new / used auto, getting your first credit card and often dealing with educational debts that can easily get carried away. Even with a credit score of only 590+ you can still qualify for up to $25,000 through our partnered lenders. Using a personal loan for debt consolidation is extremely useful for taking some of the strain off of your wallet during the transitional period from school to your career, and can help you focus on the most important things in your life rather than educational debt.

While some view the lack of a strict cap on interest for loans in Arizona as an invitation for predatory lenders, it also provides a lot of freedom for those that find themselves stuck in a situation with poor credit. It can get much more difficult to find a personal loan when your credit drops below 590, however there are still options available in bad credit loans. We can connect you with bad credit lenders in Arizona, as well as helpful tips and information on repairing damaged credit and rebuilding your financial health after an emergency or otherwise destructive situation. It is our mission to help consumers in any situation connect with the right lenders and get the perfect loan for them.

Whether you are in need of a personal loan for an unplanned emergency, starting a business, needing extra funds for a development project, or just want to consolidate old debt and streamline your path to financial freedom, America Loan Service can help you find the loan you need. With our easy to use lender connection system, you can see all your options laid out instantly. The less time you spend looking for a loan, the more time you can spend soaking up the sun and enjoying everything Arizona has to offer.

Quick Personal Loan Information in Arizona

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Secured Personal Loans

  1. Usually a larger loan amount
  2. Access to capital can take longer if the asset used for security requires an appraisal.

Secured auto loans are processed quickly with lower interest rates because the vehicle secures the loan.

A home loan equity loan or Home Equity Line of Credit (HELOC) is an excellent option for higher loan amounts and you have the time to wait. For many people that have just purchased their home or if the equity is not available to secure a home equity loan, an unsecured personal loan can get the job done and it can be completed very quickly.

When to consider a Secured Loan and Line of Credit

Secured Loan

Secured loans and lines of credit are protected against assets and provide the lenders the ability to increase the borrowing amount, lower interest rates and work with a lower credit score. The main advantage of a secured loan is that you can access more capital when you use an asset to protect the lender. Secured loans require collateral and the process can be longer as the collateral must be verified by the lending institution. This step can be well worth your time when you receive lower interest rates.If you need a larger amount of capital for debt consolidation or home repairs, you may want a Home Equity line of credit or secured loan. If you have a low credit score, the lender is usually more willing to lend you money as they have security that they could take to repay the loan.

Where to find the best Secured Loan

LendingTree is a great option for those looking for a secured loan with over 1500 providers to choose from. 

Business Loan vs. Personal Loan

When you're just starting your business or made a big sale, you may need a cash injection. If your business in grossing over $50,000 annually, you can qualify for a loan using for business for security even with a poor credit score as low as 500.

Small business loans can be taken with your name as collateral for secured or unsecured loans.

The Difference between Secured and Unsecured Personal Loans

A personal loan is unsecured based on your signature and credit report where a secured personal loan is protected by the collateral you provide. Typical uses of unsecured loans are credit cards, lines of credit, student loans and personal loans for debt consolidation and home improvements. A secured loan collateral may be the item you’re purchasing an RV or vehicle that the lender is securing. In many cases, a secured loan could also be referred to as a home equity loan as they both require collateral. The home equity loan is your house as the collateral and lenders feel secure in that none of us want to risk losing our home. Interest rates may be less with a secured loan as the lender is taking less risk in the transaction. If you are not taking out a lot of credit, a secured loan may be the way for you to go if it saves you money in interest over the long term.

Net-Worth Statement to prepare for a Personal Loan from a Bank

If you decide to go to a bank to apply for a personal secured or unsecured loan, you will need to complete a personal net worth statement. This link will offer you an example of what most banks will be looking for today. You can also go online to the bank you are planning on using and they may have their net worth documentation online. This may save you a trip back to the bank if you have this prepared before you go. Completing a net-worth statement will also help you understand the positive and negative issues the lender will question. Take the time to answer these questions before you get to the bank. The person you are talking to will need to forward information up to the bank's risk assessment group. In most cases, they are not making the decision, only passing along what you are telling them. Write out your explanation or email it to the bank so it is easy for the lender to get the information into the right hands. Remember that we are all responsible for our own financial futures and if we don’t look after it, someone else will.

Electronic Records

Online lenders will require that you agree to the use of electronic records. As the entire transaction is completed online, the lenders are sending and receiving your private information over the Internet. Read the statement of the use of Electronic records to make sure you are comfortable with any lenders policies and their terms of use. 

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  1. List of per-household income by state - List of per-household income by state acquired July 2018
  2. Understanding lending laws in Arizona - Understanding lending laws in Arizona acquired July 2018
  3. Arizona interest rate laws - Arizona interest rate laws acquired July 2018