New Credit Builder Loan Makes Back-to-School Shopping Affordable for Wisconsin Families

    DES PLAINES, IL, August 04, 2024 /24-7PressRelease/ -- As the long days of summer grow shorter, many families are preparing for the annual back-to-school shopping trip that marks the change of seasons.

It can be a stressful experience for both kids and parents.

"Kids are sad to see the carefree days of summer vacation come to an end," Nicole Horton, senior director of online services for online lender GoCredit.loans. "But parents are concerned about affording all the items on their children's back-to-school lists."

The back-to-school price tag continues to soar

Backpacks, school supplies, electronics and new clothes present a considerable expenditure—one that increases each year. The cost of school essentials is nearly 24 percent higher than it was just three years ago, Deloitte recently reported.

The average planned back-to-school spending per U.S. household rose to $890 in 2023, according to a recent study on consumer behavior.

That's a figure that can put extreme stress on many family budgets.

Lack of savings makes it difficult to afford school necessities

"If you don't have a reserve of savings—and millions of American families do not—it's going to be quite a challenge to afford all the items on your kids' back-to-school lists," Nicole notes.

"But these are essential purchases that give your child the best chance of succeeding in the new school year," she continues.

"So what are your options?" Nicole asks. "You'd likely have a hard time getting a small-money loan from a bank or credit union. And many of the alternative lending options available to you could put you in a cycle of recurring debt that's difficult to escape.

"GoCredit.loans offers Wisconsin families a better solution," she continues. "One that's stacked in the consumer's favor. Our Credit Builder Loan gets families the money they need right now while helping them move to a better, more stable financial situation."

Get Cash + Build Your Credit!SM

"Unlike many lending solutions that take advantage of financially stressed consumers," says Nicole, "the GoCredit.loans Credit Builder Loan is designed to put our customers in an improved financial state."

Wisconsin customers can get funded for a GoCredit.loans Credit Builder Loan up to $2,500, build savings and get the chance to build their credit history.

Here's how the loan works:

• Application—After completing and submitting the brief installment loan application, customers can get approved within minutes
• Funding—All of the funds are distributed to the customer with a portion deposited directly into the customer's bank account (or the customer can request a check) and a portion placed into the customer savings component
• Building—As the customer makes installment payments, their customer savings component builds, and their payments are automatically reported to one of the leading credit bureaus, which gives them the opportunity to build their credit history
• Collect—Once the installment loan is paid off in full, the customer collects all the funds in the customer savings component

"When the Credit Builder Loan is paid off in full," says Nicole, "customers find they now have a reserve of savings that allows them to handle unexpected expenses.

"Customers can continue down the path of increased savings and improved financial stability," she adds, "so that when the next school year starts, they'll be able to afford back-to-school items without derailing the family budget."

A lending solution that lets consumers build a credit history

Another very important advantage of the Credit Builder Loan is the opportunity for customers to build a credit history as they pay off their loans. GoCredit.loans automatically reports customers' installment payment history to one of the leading credit bureaus.

"As customers make regular payments on their loans," says Nicole, "they're building savings and they're building a positive credit history."

24/7 convenience backed by personalized customer support

Wisconsin customers can apply for the GoCredit.loans Credit Builder Loan by visiting the GoCredit.loans website or by contacting a customer service representative at 888-800-8172.

The application process is quick and easy, and same-day funding is available.

"Our Credit Builder Loan is an A-plus way to take the stress out of back-to-school shopping," Nicole states. "And it sets customers down the path toward increased savings and enhanced financial stability."

About GoCredit.loans

GoCredit.loans is headquartered in suburban Chicago. The company gives Wisconsin customers a quick and easy way to build savings and get funded for a Credit Builder Loan through a fast and simple online application process.

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