Before accepting a loan from any of our partners, you should know exactly how much you can borrow. This question, while seemingly simplistic, is important because it will dictate how much you will have to repay and how long it will take for you to repay it. Any installment loan, the type that we are promoting, is based on appropriate underwriting standards. These underwriting standards include your current income vs. your current expenses, your credit score, employment status, collateral or lack thereof (based on the type of lender and loan) and other important factors. These factors will allow the lender to determine the amount of money they are willing to lend.

While this is a good rule-of-thumb in determining how much you can borrow, you should pay more attention to your own budget. If you weigh your current income against your expenses and determine that you are unable to afford a loan over an established amount, do not take the loan. However, within appropriate standards, you determine that you can afford a certain amount, use the funds and repay them promptly.

Understanding how much a company can lend you is important information that you can use to compare the companies that will contact you shortly. It will allow you to make an appropriate decision based on your needs and budget versus their ability to help you address them.

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