40% of Americans Are Unable to Come Up With $400 in The Case of an Emergency

A disastrous indictment of America in 2022.

If you fall within that 40%, then look no further than HonestLoans for a pre-approved next day loan. HonestLoans have partnered with hundreds of lenders that understand emergencies come in all shapes and sizes. With HonestLoans, you can take out as little as $100, all the way up to $50,000.

“Is taking out a loan right for me?”

In today’s America, where fuel prices are up 60% and household essentials like eggs are up 33%, it’s no surprise that millions of Americans are relying on payday loans to provide a financial fallback in tough times.

While loans may have had you stigmatised in generations gone by as a result of poor financial decision making, it may now be a necessity for the everyday American. In fact, research panel, Pureprofile, found that 51.3% of Americans claim to have taken out a personal loan in their lifetime.

A quick look at the Commerce Department’s annual report shows that prices across the board are 8.5% higher compared to July 2021, and consequently consumer spending is currently 1.5% slower than the annual pace. Sound familiar? If you’re spending the same amount you were a year ago, but have less to show for it, then perhaps it’s time you looked at an affordable payday loan to see you through the storm.

Furthermore, POTUS Joe Biden may have been sleeping on the job again as Q2 (April to June) finished the second consecutive quarter in economic decline – the hallmark of a nation heading for recession.

That’s where we think HonestLoans can make the world of difference. The tough reality is, while prices continue to climb, we do still need to make purchases to survive – and that’s exactly what HonestLoans is for.

So, what does this mean for the everyday American?

Simply put, people cannot afford to buy things anymore, certainly not at the same rate they once were, and what they do purchase can threaten financial insecurity.

If everyday purchases stand to jeopardize your financial stability, you’re not alone. According to the Economic Well-Being Of U.S Households Report, 40% of Americans would be unable to come up with $400 in the case of an emergency.

Taking out a payday loan is often a stressful exercise, which is why we believe the team at HonestLoans are just what you need in order to make the experience as quick and simple as possible.

Short-term loans allow for Americans to receive funds at an affordable rate of interest, making it easier for them to pay off unexpected bills or expenses that have cropped up over the course of the month.

A short-term solution may also prove a more prudent route than merely moving funds from savings accounts at a time of global economic security. An Investopedia article recommended that, even while the stock market struggles, Americans shouldn’t consider moving their 401(k) into it, and should instead look at the possibility of increasing their percentage income contribution.

Unlike other payday providers that require you to fill out a huge form and wait days for a response about your eligibility, HonestLoans simply asks you to complete an easy, five-minute form about your situation, and they do the rest.

With your information, HonestLoans will use their industry expertise and connections to put you in touch with the best lender for you. Because everybody is different, HonestLoans has a solution for everyone.

One such example is the Martinez family from Arlington, TX, who needed a small loan after their car was badly damaged in a minor traffic incident.

Father Jaime Martinez told us: “We’d never taken out a payday loan, but we didn’t want to borrow money from family or friends.” “Our credit rating isn’t great as a result of a couple of credit cards, but HonestLoans understood that and put us in touch with a loan provider that catered to applicants and families with poor credit.”

“A few hours later we got the green light for the loan itself and the money was in our account the next day. We paid the mechanics to get our car fixed up and we were back on our feet and taking the kids to school the following day.” Mr Martinez’s case is just one of thousands that HonestLoans take care of every single day – and they consider a wide variety of different situations when choosing the best payday option for you.

The size of the loan, your weekly salary, your line of work, and even the time of year is considered when HonestLoans  look through your application before taking the next steps.

Applicants can request anything from as little as $100, all the way up to $50,000, so whether it be a small bump in the road that needs smoothing out before the end of the month, or something more substantial, HonestLoans has exactly what you need to get you up and running again.