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A revolving credit line, also known as a line of credit or a credit limit, is a type of loan that allows the credit borrower to access a predetermined amount of money as needed. Payday lenders, on the credit other hand, often require the borrower to have a certain credit score and may also require proof of income and employment. Alternative lenders: Alternative lenders, such as online lenders and non-bank financial institutions, may be more willing to lend to unbanked individuals than traditional banks.
These loans are often marketed as a convenient alternative to traditional loans, but they can be risky and come with high fees and interest rates. Just be sure to do your research and compare offers from multiple lenders before you decide which one to use.
That makes it easier for people who might have trouble getting approved for other types of loans. Payday lenders, on the credit other hand, often require the borrower to have a certain credit score and may also require proof of income and employment.