Almost everyone has times when they're a little short on cash. Professionals, students, and businessmen who have a regular source of income can use cash advance loans facility in emergencies. Applying for this loan is simple and convinient, which makes it most noticeable.

Building credit. Borrowers with bad credit can turn to consumer loans instead of credit cards. The other major benefit of a consumer installment loan is that the lender may report the borrower's payment history to credit reporting agencies.

A loan will allow you to borrow money from a bank, building society or other source, but remember that you'll be charged interest on your repayments and run the risk of not being able to manage your debt.