Raising a family could prove to be pretty challenging even in case of nuclear families but things are really worse in America where there are a staggering 9,781,000 single mom families. Single moms have a really tough time in managing the entire family on their own. The responsibilities of raising kids could prove to be overwhelming for a single mother. Numerous single moms would be relying on bank loans and credit cards in an attempt to fulfill all family expenses. This is primarily the reason why they are caught up in the vicious cycle of debts and more debts. Single moms not only have the responsibility of raising a family with great care but also, have ever-mounting pressure to manage debts that seem to be piling up.

In this context, single moms could get quick cash loans from P2P lending agencies. The online application is supposed to be super-fast and really easy to use. You would be conveniently matched with an appropriate lender at the earliest possible. Single moms need to worry not only about themselves but also take care of proper upbringing and upkeep of their kids. This could be really terrifying and stressful if they have no support from friends or family. P2P lending services would be effectively finding the right loan just for your unique requirements so that things do not get out of hand.

A single mom understands that certain minor emergencies could culminate in mammoth financial issues. Arranging some fast cash would prove to be an effective solution for preventing utility shutoffs, massive overdraft fees, or even vehicle repossession that could be costing lots of additional dollars on the already existing debt amount. The best option that a single mom could choose is P2P lending. Here are certain advantages of choosing P2P lending solutions for a single mom. Sticking to a budget and managing other aspects of finance may not be an easy task for a single breadwinner. Just a single earner in the family could mean a tremendous amount of tension for the only parent. The single moms would need to provide food, shelter, and clothing, and education to her kids. They should seek the services of reputable sites such as https://www.libertylending.com/ for prompt monetary and lending solutions.

Get Fast Cash

As a caregiver to small children, you may be short of cash. It is essential for you to come up with an adequate amount for depositing in your specific bank account for covering your debts. You could consider using a P2P lending program where you would be required to feed your details and relevant info online and then you would be successfully connected to a P2P lender who is willing to lend you the required amount. Several Peer-to-Peer lenders are supposed to be investors looking for fast and attractive returns. You would need to pay certain loan approval fees within a pre-determined time frame.

Alternatively, as a single mom, you may be looking for a versatile platform for investing whatever savings you have so that you could earn some fast money. But before considering any investment, it is essential for you to fully understand the risks involved and the expected returns. Do not be overboard with fantastic returns as of now because there could be rough patches in future with poor returns. You must always make a conscious decision and ensure that this sort of a P2P investment is compatible with your personal investment strategy.

No Background Check or Credit Score Appraisal

One biggest advantage of opting for an online platform like a P2P lending as compared to the conventional bank or other financial services is that P2P lending does not need a comprehensive background check. You simply may require providing the following:

  • Personal information like address and telephone number
  • Bank account no. & routing no.
  • Your employer information.
  • Driver’s license number
  • Social security number
  • Information verification like last month’s check stubs.
  • Personal references

If you have some credit report issues like low FICO score or huge debt-to-income ratio, a Peer-to-Peer loan would be your best bet for getting the required money as P2P does not concern itself with the meticulous scrutiny of your credit report and you know very well as a single mom, you may have certain credit issues.

Short-Term Loan

With numerous conventional lenders, it is necessary to go through an in-depth verification of income and also, provide some sort of collateral for a personal loan approval.  You may have to pay a small amount for loan request approval. Moreover, you would require paying the interest and fees throughout the loan term that could be adding up significantly eventually.

With a P2P loan, you would know precisely what fees you need to pay and you would be repaying them within a shorter time span like a month or 90 days. There would be no ongoing bill coming in once every month in the mail. P2P is the faster method of getting cash and then paying it off fast so that you could focus on regular monthly bills.

Fewer Formalities, Documentation Proof, & Paperwork

With a Peer-to-Peer loan, some proof and physical documentation would be required as your identity proof. However, many P2P companies gather your information and details from any reputed online application. Generally, the approval takes place pretty quickly and your loan amount is transferred to your bank account definitely within 24 hours. Remember that a single mom does not imply that you and your kids are predestined for the welfare line or for free school lunches or living in the basement of your parents with your kids. You may seek perfect P2P loans for better financial future.


As a single mom, you need to keep depression and tension at bay so that you could manage your life and nurture your children with utmost responsibility. You must develop a lot of self-confidence. Keep convincing yourself that life is going to be a happy and financially stress-free one. You must chalk out a household budget as that is extremely important for effectively jumpstarting a happy and fulfilling life with your beloved little one or ones. You could even explore various P2P sites that help you in getting started in the right direction in a few simple clicks.