A few decades back, if someone needed additional funds, the only people they could turn to for help were family and dear friends. If desperate, they could approach the local loan shark, who would live up to his name and fleece with high interest rates. Then, in the 1980s, credit card technology enabled online cash advances.
Today, evolving technologies and consumer spending trends have further transformed the credit industry, and now you have many more options for systematic borrowing and repayment. This infographic takes a close look at 5 modern loan options, and their benefits.
Modernizing Loans: 5 Technologies and Trends Changing the Credit Industry
Infographic by – Cashalo