Grace Enfield, Content Writer
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You get the money from a credit-builder loan after the loan term ends and you’ve made all the payments, plus interest. You will not be able to access any of the funds until the credit-builder loan is paid off, unlike with other loans. In other words, you’re not actually borrowing money with a credit-builder loan.
If you’re looking to get funds right away, you may want to consider getting a personal loan or a credit card. With these options, you’ll be able to borrow money within days of being approved. If a personal loan is right for you, you can estimate your potential rates by using the free pre-qualification tool on WalletHub.
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