Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

How to Get a Personal Loan in Asheville, NC


The average credit card APR in October of 2014 was 15.07%. With such rates, sometimes a personal loan is a more cost-efficient way of getting your hands on the money you need with the interest rates you can afford.

There are a few things you need to keep in mind when considering how to get a personal loan in Asheville, NC.

Factors to Consider Before Applying for a Personal Loan

  • You’ll need to find a bank that offers personal loans. In Asheville, NC, First Bank has three locations that offer such a service. You can read about First Bank’s personal loan program here.*
  • A secured loan will require some sort of collateral such as a vehicle, real estate, or stocks. This is put up in the event that you are unable to repay the loan.
  • You’ll need to show at least one form of valid I.D., and may need to show a social security card as well.
  • A way of showing your income will only increase your chances of getting a personal loan. Lenders will feel more confident in your ability to repay the loan based on your income level.
  • You may also need to show tax returns and other financial information.

How-To: Get a Personal Loan

If you’re in Asheville, NC, First Bank offers two easy answers for How-To: Get a Personal Loan — a credit line and overdraft protection.

  1. First Bank’s personal credit line allows customers to write a check to themselves and walk out with the money they need. Qualified collateral may be needed in some cases.
  2. Overdraft protection acts as a loan by loaning you the difference should you make a purchase greater than the amount of money in your account. By borrowing the difference, you can still complete the purchase while avoiding any overdraft fees.

Read more about First Bank’s options for how to get a personal loan, or visit a friendly associate at your nearest Asheville, NC, First Bank location.


*Loans subject to credit approval.

———

Sources:

Credit Cards: http://www.creditcards.com/credit-card-news/interest-rate-report-102214-unchanged-2121.php

Investopedia: http://www.investopedia.com/terms/c/collateral.asp

Trending Topics

FHA Loans 101: 3 Major Requirements

If you have a strong understanding of the FHA loan requirements, you’ll experience a quicker and smoother loan application process. FHA loans provide homebuyers of all income levels the opportunity…

Small Business Line of Credit

Obtaining a line of credit for your small business can help your entrepreneurial spirit take the company to the next level. This line of credit can be a more affordable…

Four Different Types of Services | Banking

A bank’s job is to provide customers with financial services that help people better manage their lives. As technology advances and competition increases, banks are offering different types of services to…

Small Business Payroll Services

If you’re like many small business owners, it’s likely that you wear many hats and are always on the go. From managing to accounting, there are multiple tasks you have…

Essential Homeowner’s Insurance

Life has the ability to catch us off-guard with unanticipated and costly expenses, such as house damage from a fallen tree or basement pipes bursting during the winter season. That’s…

What Are 20-Year Mortgage Rates?

There are various factors to consider when purchasing a home, including how to finance it. Some consumers may opt for a mortgage with a shorter term while others find it beneficial…

Read These Articles on Personal Financing

Knowing your finances is the first step to properly managing them and ensuring you are in good financial standing. But how do you get started? Reading personal financing articles can…

Workers’ Compensation Insurance 101

If you’re starting a business and are unsure of the purpose of workers’ compensation insurance or how to acquire it, then you’ve come to the right place. This kind of…

Enjoy Hassle-Free Online Payment Processing

Businesses need a fast and dependable way to manage client payments, whether online, at the point-of-sale, with an integrated solution, or on wireless or mobile devices. First Bank provides online…

Ways to Influence a Personal Loan Interest Rate

It’s not uncommon for a person to need a personal loan. This money is often acquired to apply it to a home improvement project or to have cash for an immediate…