Making the Holidays Brighter for Families in Financial Distress

Making the Holidays Brighter for Families in Financial Distress

Making the Holidays Brighter for Families in Financial Distress

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“If you’re living paycheck to paycheck, as millions of American families are,” says Kevin Donahue, senior district manager for online lender SAIL Loans, “there may be little to spare to make the holidays special for your family.

“At SAIL Loans,” he continues, “we offer a lending solution that helps families afford what they need this holiday season while helping them arrive at a more stable financial situation next holiday season.”

The holiday season places increased financial stress on families

The joy and merriment of the holiday season are offset by heightened financial instability for many Americans. A September 2023 report from PYMNTS Intelligence and financial services company LendingClub found that seasonal factors such as fluctuating utility bills, tax payments and holidays can negatively impact consumers’ financial stability. PYMNTS is a global leader in data, news and insights on payments and the platforms powering the connected economy.

In the report, events and celebrations were cited as the leading fourth-quarter stressor by almost half (47 percent) of consumers. The cost of buying gifts and hosting gatherings is a leading contributor to that stress, and 36 percent of consumers identified December as the month of the highest seasonal financial distress.

Few good options for hard-pressed consumers

“If you have no savings on which to draw,” Kevin notes, “holiday expenses can drive your budget off the rails and put you in a very bad financial state.

“You probably can’t get a small-dollar loan from a traditional financial institution,” he continues. “And so many of the alternative lending solutions available to you would put you in an even worse financial situation.

“At SAIL Loans,” Kevin adds, “we want to help consumers build the savings that provide financial security and allow them to handle unexpected expenses.”

Cash for today, savings for tomorrow

The innovative savings and installment loan from SAIL Loans helps Illinois customers get the money they need for this holiday season’s expenses while setting them on the path to increased financial stability for next holiday season.

Here’s how the loan works:
  • Customers can get approved within minutes after completing the brief installment loan application
  • Customers receive a portion of the loan amount immediately to meet current expenses
  • A portion of the loan amount goes directly into a secure savings account that accrues interest as the customer makes regular installment payments on the loan
  • Once the loan is repaid in full, the customer gets full access to the funds in the savings account

“Once the savings and installment loan is repaid,” says Kevin, “customers are delighted to find that they have savings that provide some security. They can now continue down the path toward increased financial stability.”

Online convenience with an array of customer advantages

Illinois customers can apply for a SAIL Loans savings and installment loan through the SAIL Loans website, by downloading the convenient app or by calling 833-700-7245 to speak with a lending services representative.

Customers can get funded for a loan up to $4,000 with a range of benefits including:
  • a quick and easy application process
  • same-day funding
  • the choice of a 12-month, 15-month or 24-month installment plan (which offers lower installment payment amounts)
  • the chance to build their credit history as they pay off their loans

“All of us at SAIL Loans understand how important the holiday season is for our customers,” says Kevin. “We’re pleased to provide the funds that will make this season merrier while helping customers set sail to a better financial situation.”

About SAIL Loans

SAIL Loans, headquartered in suburban Chicago, gives Illinois consumers a simple, easy way to build savings and get funded for an installment loan of up to $4,000, online and via the downloadable app.

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