You’ve surely noticed how hard it is to get an easy cash loan these days, and there are a lot of reasons for this, some of them justifiable and others just plain unfair and unfortunate. We can’t change any of this, but we can provide you with the safest avenue through which to find a potential solution.

First of all, let us point out that you should only opt for a loan if you absolutely need it. If using your own money just means you have to be cheaper food for a little while, and may be discontinue your Amazon prime subscription for a month or two, that really doesn’t justify the trouble of a loan, and there will be trouble for you no matter what.

That said, for a lot of us, we just don’t have a choice. Wages are low even in developed nations, and everything’s price just keeps going up. In places like Hong Kong, vehicles and property are ridiculously expensive, and of course, starting a business is prohibitively costly due to regulation compliance factors.

Why is it so hard to apply for a small personal loan?

So, the problem is that people’s tendencies to flippantly default on loans means that a lot of lenders run a risk of not profiting if they’re too trusting. So, any lender is going to require either a very good credit score, serious collateral or stick you with some nasty interest rates.

In places like Hong Kong, Macau, Malaysia and some smaller nations in Europe, this is worsened by the fact that there are very lax regulations on loans. This is to promote foreign investment, something that these places do need in order to ensure a quality of life for their citizens, so that is a little bit of a trade-off. They are by no means the only ones guilty of this, as bigger nations do the same thing, just on a less extreme level. Regulations on interest rates just aren’t as strict as they should be in most of the world. This is just especially visible and smaller autonomous zones like Hong Kong at the end of the day.

If you don’t have great credit, you can get an easy cash loan, but it’s good to cost you an arm and a leg. Just know that now. It is going to cost you, you will be paying off a lot more money than you borrowed by the end of it. It’s not going to be as bad as student loans, think goodness, but it’s still going to be a little rough.

That said, let us at least give you some advice on where to look for the least painful loan, as well as how to shop around once you’re there.

You should look online, even when the pandemic ends!

So, right now, there are a lot of reasons why you should do everything you possibly can do through the Internet. Social interaction is potentially deadly right now, and it’s actually quite amazing that banks in small loan offices are even open to the public it all in a brick-and-mortar sense. Many of them aren’t, but you can’t entirely shut these things down or the world will end.

Shopping online to apply for a small personal loan is your best bet. It will continue to be, even when this pandemic finally does us a favor and goes away. Online, you can read it your leisure without someone actively trying to upsell you or confuse you. Sure, it will still try to do so passively with some of the sites, but if it looks like its writing is confusing, that’s a signal to pass on that particular service. If it doesn’t outline all of the costs, that’s another bad sign.

So, look at their outlined costs. Make sure that they don’t have increasing interest rates, or a whole bunch of seemingly unnecessary service fees that actually drive up that face value interest rate to something astonishingly painful, possibly illegal if it were actually just all branded as an interest rate.

If you’re smart, you do your homework and you take the time to talk to the services before you agree to anything, you should be able to get the lowest possible interest rate for what you need. Just, again, understand that it’s still going to be costly and painful. Truly cheap loans don’t exist anymore, and I frankly am not convinced they ever actually did.