One of the country’s leading lending institutions is offering COVID-19 loans to Americans affected by the pandemic. First Financial, a San Diego-based company, says that it is offering flexible loans without any hidden fees to ensure that those who are currently experiencing the financial nightmares brought about by global health emergency have enough money for their needs. COVID-19, a virus that came from the Chinese city of Wuhan, has caused a public health ordeal for many governments around the world. The virus’s contagious nature led to lockdowns around the world, causing a financial crisis in its wake.
Direct cash payments and relief for businesses across the board are now being floated by decision-makers, reports note. However, there are fears that many Americans will not be included in the new policy. In an NPR report on 8 May, sources said that proposals for the country’s next round of aid are already being talked about due to the rise of unemployment numbers in the United States. According to the Labor Department, an estimated 20.5 million people lost their jobs in April alone.
The global emergency brought the world’s economies to a standstill, with many now experiencing negative growth, based on several reports. The International Monetary Fund projected earlier this year that global growth will dive to as low as -3%.
On 20 January 2020, the United States got its first COVID19 case, a young man who just came back from Wuhan. At the time, the relatively unknown Chinese city was contending with COVID-19 cases that went up by the thousands. About two months later, the United States became one of the hardest-hit nations with over 80,000 cases and more than 1,000 deaths. The numbers, according to the US officials, have gone up since then. This was followed by a lockdown to help flatten the curve and ensure that the healthcare system does not collapse. While staying at home is beneficial for the health of the general public, the economic brunt could not be denied, experts say.
The pandemic has changed American lives and people from all states now live in challenging times, according to reports. Aside from the fear of contracting the novel coronavirus, the situation also came with financial nightmares for every American household, with some being in more difficult situations than others. This, according to First Financial, is what the lending company wants to address considering that the lockdown might be extended beyond May 2020.
The California firm notes that even Americans with bad credit scores can avail of their loan solutions especially at this time when jobs are scarce and many are stuck at home without the possibility of securing a stable income. Due to the financial woes that the virus has brought, the President floated opening up the economy at Easter. This plan did not push through, however, due to the growth of COVID-19 cases in the country. It is yet to be determined when the United States will transition to the “new normal”, reports note.
The company says that their loan solutions are “excellent” for all credit types, making it one of the more accessible institutions to borrow from at this time. The firm adds that after filling out the form, funds will be deposited to the borrower’s chosen bank account. This can be done on the next business day. First Financial adds that the company will never ask for any upfront payments from its customers and will never ask for pertinent details such as their clients’ social security numbers and bank information. The company does not have upfront fees and does not charge processing fees to borrowers.
