Great social lending ventures exist to help you get through life’s tough patches. However, they are often anything but fast. This isn’t really a loan from your friends. It’s a loan from people that believe in your goodness and your ability to change, but it’s really not going to be a loan from your friends. This is something that throws people off all of the time when it comes to social lending, but the reality is that you want to go with social lending only when you have enough time to wait.

Why? Well, that’s easy — they want to make sure that you’re a good person. They want to check your proof of income, your background, where you live, if you rent or have a mortgage. They want to know everything about your credit history. That can be a lot on a person, and you really need to make sure that you get the fastest money at the best possible time.

When you’re in a financial emergency isn’t when you want to turn to social lending. That would be like asking yourself to stand out in the cold and hope that someone invites you into their house. If they don’t invite you, then you’ve shivered and nearly froze to death over nothing.

It’s a lot better in the long run to go with pay day loans for short term emergencies. The long term stuff is where social lending really sparkles. You wouldn’t turn to pay day loans for new money to start a business, but you would do that in the social lending world. The more “noble” your cause, the more likely your social lending proposal will actually be funded.


Don’t feel that it’s impossible to get the life that you always wanted after all of these financial troubles are dealt with. The faster that you deal with them, the faster they will go away. If you cling to them and don’t make a decision, then the problems will simply keep growing until they take over your life. And what type of fun would that honestly be?

Make sure that you are applying online for your pay day loans. Even though these financial products do indeed exist offline, it often takes a lot longer and involves a lot more paperwork than what you’re probably willing to sign. Good luck!