(Photo by Paolese on stock.adobe.com) An unexpected expense can be a major hurdle for many Americans. According to the Federal Reserve Bank , 40% of adults would not be able to cover an unexpected $400 expense without having to sell something or borrow money. And, over 25% of adults have skipped necessary medical care because they wouldn’t be able to afford the bill. When it comes to relatively smaller expenses (i.e. not a mortgage, new car, or student loans), a small personal loan can make expensive surprises more manageable. Is a small personal loan the right option for you, or is there a better choice? Who Can Benefit from Small Personal Loans? If you don’t have emergency savings ready in the event of a car breakdown or some other costly event, then borrowing money may be the only way to cover your costs. A COUNTRY Financial® Security Index survey found a quarter of women, a quarter of African Americans, and over 35% of participants making under $30,000 per year were not confident they could pay their monthly bills within one month of losing their job. This means many people are living without emergency savings . A small personal loan […]

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