Personal Loans 101

Personal Loans 101

You’re in the Right Place

If you’ve stumbled onto this blog, chances are you’re looking to increase personal opportunities and fund future possibilities. Well, you’ve landed in the right spot. At, we take pride in educating our customers on everything and anything having to do with Personal Loans. But, let’s not get stuck in the weeds. This is about the basics and that’s exactly what we are going to cover.

What is a Personal Loan?

A personal loan is a type of installment loan that provides up-front cash and is paid back at a fixed interest rate with equal monthly payments. Essentially, it’s how you borrow money from a lender for personal expenses. Before you receive the money, lenders will set up a payment schedule over a specific period of time to pay off the loan.

Why Would I Want a Personal Loan?

Personal loans can be used for many reasons. The most popular reasons are to pay off existing debt or finance new purchases. Personal loans are also used to pay for unexpected expenses, like medical bills.

When Should I Get a Personal Loan?

If you’re having trouble keeping up with existing debt (credit card bills, etc…) you should look into getting a personal loan. One of the best ways to use a personal loan is to pay off existing debts. That way, you only have to make one payment, instead of multiple ones to different companies.

Where Can I Get a Personal Loan?

You can get a personal loan at banks and lending companies all over the nation. However, very few of those banks or companies offer the flexibility and speed of our distinguished family of brands at By using Southern Finance, Covington Credit or Quick Credit, you are guaranteed an easy, comfortable and helpful experience. Our Loan Professionals are dedicated to helping you find the perfect personal loan for your situation.

How Do I Get a Personal Loan?

That’s the easy part. Find your nearest branch and give them a call. They’ll tell you everything you need to know, everything you need to bring and schedule an appointment to begin your loan.

Ready for a Deeper Dive?

Take a look through the rest of our site. features a variety of videos and info about personal loans. We also recommend reading this excellent article, written by our friends and partners at TransUnion. They have great advice when it comes to money. You can also give us a call too. Our loan professionals are very passionate about the personal loan process. We are here for you and are always willing to lend a hand.