Common reasons for needing a loan are buying a first home, a car or large medical expense. Sometimes it’s just some extra cash for that unexpected appliance repair bill. Some of us will take out a bank personal loan or leverage credit card spending limits. However, there are distinct advantages of friends and family personal loans worth noting.
Here are the top eight reasons why a friend or family member may be the best bank for your loan:
While these are all terrific advantages for a friends and family personal loan, be sure to check out some of the disadvantages of friends and family personal loans.