How Changes in the Economy Are Affecting You and How BMG Can Help
According to the National Library of Medicine, people 65 and older represent a subgroup that has grown faster than other groups in recent decades. Advancements to and availability of healthcare plays a huge role in this, but so do new ways of approaching self-care including diet health, mental health, and
physical health. But as people live longer, they are at greater financial risks when fluctuations in the economy occur and they search for affordable payday loans to help make ends meet. This is largely in part to fixed incomes and increased medical costs that are not countered by government programs.
So, what does this mean during our current economy? Over the last few years, many seniors and retirees have had to stretch their dollars more because of the pandemic as well as national and international factors affecting the U.S. economy and their fedloan applications. Rising costs in goods were caused by a lack of productivity (manufacturers needing to reduce their workforce for health reasons) and a rise in associated costs (e.g., packaging, shipping, and gas prices) for many to turn to high-interest quick loans.
Many seniors and retirees were hit hard by the sudden economic changes that occurred in late 2019. The impact was worsened when an emergency or unexpected things like medical expenses, home repairs, car repairs, and more brought people to the brink of bankruptcy. People were forced to seek out
financial assistance but were either turned away or offered a high-interest personal loan which would put them in even more stressful situations. And that is when BMG Money stepped in to aid those who were most in need.
Who Is BMG Money And How Can They Help?
Founded in 2009, BMG is a financial organization that champions seniors and retirees by protecting them from predatory loan operators who often deny older people or provide high-interest loans and hard-to-pay loans based on credit history. Most financial institutions consider seniors and retirees to be
high risk and will often deny the financial assistance these communities need to deal with temporary financial assistance during unstable economies.
Based in Miami, FL, BMG Money has earned a 5-star rating from popular social media sites, including TrustPilot, Google and Facebook, and has also received an A+ rating from the Better Business Bureau. It has launched the “Loans for Retirees” program to specifically help seniors and retirees that have been
affected by the economy and rejected by other banks and credit unions receive payday loans online.
What Is the “Loans For Retirees” Program?
The “Loans for Retirees” provides financial assistance and resources to seniors and retirees based on current income instead of credit history. This helps people pay for unexpected medical expenses, home repairs, car repairs and more. The loans can also be used to help people weather the unstable economy
when their income does not make ends meet.
The application process is simple and takes just a few minutes through BMG Money’s website. The organization does not require a credit check and applicants’ FICO scores are not negatively affected. BMG Money will, however, report successful repayments to credit bureaus which may help people’s
credit histories. To apply, one only needs to submit 2 to 3 documents which can be sent by email, text or uploaded directly to the website. Decisions are made within 2 to 3 business days and one can expect to receive their money in 1 to 2 business days depending on their preferred funding method. The loans can be used for anything and can be paid back in easy automated installments to help
borrowers maintain and improve credit histories.
Are There Available Loans Near Me?
OurSeniors.Net and BMG Money are teaming up to help seniors, retirees and those in assisted living navigate the financial stress that many feel due to the current and possible future economies. Many seniors and retirees may ask “Where can I find payday loans near me?” BMG Money is a leading and trusted financial institution operating in 37 states and Washington D.C. Citizens in Florida can contact customer support at 800-316-8507 or firstname.lastname@example.org for more information about BMG Money’s “Loans for Retirees” program and other senior living resources.
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