When faced with financial difficulty, loans can provide a much-needed solution. Despite common misconceptions, borrowing money can actually provide a number of positive benefits. Here are four ways that loans can be a true blessing.

1. Get Emergency Funds Quickly: In a financial emergency, there’s no time to wait. Loans can provide quick access to funds to cover unexpected medical bills, car repairs, or other urgent expenses. As long as you pay your loan back on time, you’ll be able to take care of the problem without having to worry about where you’ll get the money.

2. Establish Credit: Getting a loan and paying it back on time is one of the surest ways to establish a good credit score. Good credit can open doors to numerous financial opportunities, such as better loan rates in the future or even a mortgage. Plus, some employers will even run a credit check when hiring, so good credit is a sign of responsibility that can help you land a job.

3. Consolidate Debt: If you’re having a hard time managing multiple loan payments, you may be able to consolidate your debts into one loan. This can make budgeting and