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Your Loan, Your Business

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One of the sd main drawbacks of doorstep loans is the high cost. Consider a secured credit card: If you have a poor credit score, you may have a difficult time getting approved for a traditional credit card.

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Instead, lenders rely on the loans borrower's creditworthiness and income to determine whether to approve the loan and what terms to offer. As the sd borrower makes payments on the loan, the credit limit becomes available again, allowing the borrower to borrow more money if needed. Overall, installment loans can be a useful financial tool for those who need to borrow a large sum of money and want to pay it back over a longer period of time.