Louisiana, also known as Bayou State, is the 25th most populated region in the south of the US. It is also the only state in the country that is divided into two parishes with their own respective local governments. This is stemming from the French influence.
This state is not being crushed with high taxes like New York and Baltimore which is good to know.
Tourism, agriculture, petroleum, processed foods, coal, chemical products and transportation equipment are some businesses that contribute towards Louisiana’s economy.
Tourism alone brings in $5.2 billion each year and Louisiana is the largest producer of crawfish in the world. Median household income is $41,734 and unemployment rate is 7.3%. With wide range of employment options and income slabs, Louisiana offers variety of financial options for people who are seeking financial support.
Average credit score for the entire state of Louisiana is 670 which is below the country average of 687. Despite its low credit score, there are many lenders that offer personal loans to people with bad credit, helping them through their rough financial times.
Personal Loan for Bad Credit
Your purpose for extra cash could be anything. However, poor credit history is no reason for you to be denied that monetary support. There are many lenders out there who are willing to extend cash advances to you with a fixed loan term, even if your credit score is less than perfect.
There are lenders outside the purview of traditional lending institutions that work closely with borrowers to help them meet their financial needs. People who have poor credit score can still apply for personal loans with the help from experts. Even though most lenders will not approve loans for credit scores that are below 660, some online lenders specialize in extending loans to applicants with bad credit.
The quickest way to fix your credit score is through debt consolidation. Many borrowers apply for personal loans to consolidate their debts and get better control over their finances. Fixed repayment terms and monthly installments can prevent them from falling into credit trap.
The structured nature of personal loan payments helps borrower create a budget and stay true to it. Applicants can choose the term of their loan that usually starts with one year. Small borrowers should ideally explore their personal loan options online and choose the most cost-effective loans that match with their financing needs.