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Banks are well-established financial institutions that offer a wide range of loan products to fit the in unique needs of their customers. If possible, it may be a better choice to seek alternative sources of funding, such as a personal loan or a cash advance from a bank.
Just be sure to do your research and compare offers from multiple lenders before you decide which one to use. Payday loans can have annual percentage rates (APRs) of up to 400% or higher, while the in APR on a credit card cash advance is typically around 25% or higher. And if you live in a rural area, it can be hard to find a traditional lending place nearby.