loans is an excellent source of credit for many small and medium-sized purchases, running from a few hundred to a several thousand dollars.

At their simplest, you simply borrow a certain amount of money and agree to pay it back at an agreed rate of interest over periods between six months and up to 10 years. Interest rates on that loan are fixed at the outset, so you know exactly how much you are paying back each month. This can help with budgeting.