Loan Ridge Offers Outstanding Loan Services For Missouri Residents

As the leading loan provider in Missouri, Loan Ridge has been serving local customers with reliable personal loans, bad credit loans, cash loans, installment loans, etc.

Taking out a loan is useful in many situations, from paying for a large purchase or unexpected expense to building your credit history. But how can you tell which loan is right for you?

Loan types depend on what the money is used for, how much is due, and when it will be paid back. The kind of loan you need will depend on these things as well as which lender you opt to use, and can impact your credit score either positively or negatively depending on its effectiveness.

Here’s what you need to know about personal loans.

Types of Loans

There are any different kinds of loans, but the three main ones to consider are

  • “Bad credit” loans, which are personal loans used by individuals with a low credit score, or no credit score at all. These help people get money for emergency use when they might not otherwise be authorized.
  • Installment loans, which are loans where you take all of the money you need at once, then pay it back with a set of regular payments made over the course of several months or years. These loans can help build your credit score by diversifying your debt and proving you as a reliable borrower through regular payments.
  • Cash loans, otherwise called payday loans, which allow you to use money you have not been paid yet in exchange for your debt being taken on your next payday. This can help you access your money quickly in the event of a delayed check or unexpected expense, but can be dangerous if used too often.

Each of these loans has its own benefits and drawbacks to consider, including varying interest fees and the danger of cyclical debt.

How to Decide Which Loan Works for You

To decide which loan type is right for you, consider the following questions.

  • What does your credit history look like?
  • Why are you taking out a loan?
  • How much money do you need?
  • When can you expect to pay it back?
  • What long-term effect, if any, are you looking for?

Use the answers here to compare your situation with the loan types listed above and find the right option for you. You may also consider talking with a financial advisor for professional advice if possible.


Taking out a loan isn’t as scary as it sounds. As long as you know what you’re borrowing and why, loans can be a beneficial way to work with the credit system and get what you need when you need it. Just be sensible, smart, and systematic when choosing the right loan for you.