A small personal loan can be a quick, convenient option to pay an immediate expense, like a medical bill or car repair, if you don’t have emergency savings or alternative ways to cover the expense. Here are 5 things to know before you take out a loan, so you know if it’s the right decision for you.

1. Why you need the money?
2. How much you can afford to borrow and payback
3. Interest rates and other fees
4. Small loans can be a lifesaver when you need cash quickly
5. Banks aren’t the only option

Over the last two centuries, free markets and globalization have had a positive effect on aggregate economic growth, contributing to better living conditions and the reduction of extreme poverty across the world. Yet this is far from the only important socioeconomic change and moreover, the last two centuries have not been all about ‘free-market capitalism’.

Based on current projections, the world will not end poverty by 2030. Poverty will likely be lower by about 200 million people, but 438 million people, or 5 percent of the world’s population, will still live in extreme poverty. This is because there is a high likelihood that the pace of poverty reduction will slow down markedly in the coming years.