Single Mother - My Choice


How to Find Personal Loans Single Mothers Can Get

It's hard to raise a family in this economy, and this is for members of households that have two working adults paying the bills. For a family that only has one person doing all the childcare and bill payments, this gets overwhelming very fast. Credit card payments, a mortgage or rent, and all the other bills necessary to provide for a family, when faced alone, can mount and create a nightmare scenario for any single mom. Luckily, there are personal loans single mothers can qualify for, and when used correctly, can provide a much-needed buffer until you get back on your feet.

Personal Loans Single Mothers Can Get at a Bank

Personal Loans for Single MothersIf your credit is good, or even decent, you may be able to qualify for a personal loan at the bank you use. Simply walk into your local branch and ask to speak with a bank officer. Tell the person you speak with that you are in the market for a personal loan to consolidate bills, and find out about your options. The bank official will be able to tell you about the various programs that may be available to you depending on your particular situation and credit rating. Make sure to ask about the following metrics before you sign on the dotted line, however:

  • Interest rate
  • Prepayment penalties
  • Length of repayment
  • Amount you can borrow

If the bank's qualification standards are too high or if you can't qualify to receive as much money as you need to take care of your bills and other debts, then you may need to look into less traditional forms of financing to get the money you need to dig yourself out of a financial hole.

Peer-to-Peer Personal Loans

Peer-to-Peer Personal LoansPeer-to-peer lending is becoming increasingly popular as an alternative to banks and other kinds of traditional lending institutions for personal loans for single mothers. This is because they have begun to strengthen their lending policies and credit requirements necessary to qualify for a loan. Essentially, you log onto a website such as or and create a profile. From there, you can create a request for a loan. Then, lenders will all begin to “bid” on your loan at different interest rates, and they will add money to your loan amount until it is fully funded.

Personal Loans for Single MomsThe downside to this form of “social lending” is that the interest rates are generally higher than the rates for a traditional bank loan would be. However, you are more likely to qualify for personal loans single mothers can use in the form of peer-to-peer loans than you would be for a traditional bank loan if you have a good deal of revolving credit or if your credit rating is not where it should be.

Make sure that you have all documentation necessary for the loan to be funded before you place your listing. If you don't, then you may experience delays in receiving your funds. Make sure to present all information when asked – usually this means faxing in ID cards or other information that may be necessary to verify your identity before you receive the loan proceeds.

Health-e-Arizona program for Single MothersWhen you use the Health-e-Arizona program to obtain assistance for yourself and your children, however, it's only for the programs as listed above. Other services such as Arizona's Long Term Care Services, which include nursing homes and community and home-based services, are not included within the Health-e-Arizona system. Contact the county office of community services nearest you to find out more about enrolling.