The Frivolist: 5 Ways to Get a Loan That’s Not From a Bank or Loan Shark

By |2020-01-22T16:28:55-05:00January 22nd, 2020|Advice, Entertainment|

 

Hard up for cash but afraid you won’t qualify for a traditional bank loan? You’re not alone; not every LGBTQ person is the financial guru the media makes us seem. You can, however, get the cash you need – and quick – with these alternatives that won’t drive you years into debt.

1. Borrow From a Life Insurance Policy

If you’ve been paying into a life insurance policy, that money is already yours. Certainly it’s intended to cover the costs of your death and perhaps alleviate some of the financial strain on your loved ones and/or dependents once you’re gone, but if you need to tap into those funds while you’re still alive, it’s an option. Whatever you withdraw will be deducted from your beneficiaries’ payout, which makes them SOL upon your death, but at least you don’t have to worry so much about paying back what you’ve t