People need money for everything they do. Such is the situation of the capitalistic world today that you need financial support for basic things also. For example, sometimes, you can need a more significant amount of money for unforeseen circumstances ranging from car repair, house mortgage, or even buying a new set of things.
Although there can be plenty of good reasons for applying for the loan, one thing is for sure; you shall repay it at regular intervals. Otherwise, there are chances that the loans might get you an additional burden of fees. Also, while applying for loans, one must keep in mind the payback value in the future.