What are secured loans? Secured loans are loans backed with something of value that you own, called collateral. Common examples of collateral include your car or other valuable property such as jewelry.
Correspondingly, does one main financial require collateral?
There are two main types of personal loans: secured and unsecured. The one that’s right for you will be based on your financial situation, including your credit score. Secured loans require collateral as part of the loan terms.
People also ask, what credit score do you need for a OneMain financial loan? Most personal loan lenders require credit scores above 660 to apply, but OneMain Financial doesn’t have a minimum.
Simply so, is it hard to get a loan from OneMain financial?
Getting a loan when you have poor credit can be difficult. OneMain Financial is one of the few lenders that make it possible. The cost of these loans can be high and they may require collateral, but if you’re in a pinch and need money, a personal loan from OneMain may be a good fit.