In order to get a Payday Loan from a direct lender, you must fill out a simple online application and wait for approval. Direct deposit to your bank account within one business day!
Direct Lender Payday Loan
If you are looking for a quick way to finance your needs, then a Loan is perhaps the most suitable option. However, banks and credit unions can approve applications up to a week. Moreover, you need to have a good credit history in order to get approved. However, even if you find yourself in a difficult life situation and have a bad or poor credit history, there is an option that you can use.
A Payday Loan is the fastest type of financing for a difficult situation. Direct lenders approve applications almost instantly!
What Is A Payday Loan From A Direct Lender?
A Payday Loan is defined as a short-term loan that is designed to provide emergency financing to people with almost any type of credit. A Payday Loan is unsecured, so you don’t need to provide collateral and risk your property.
It is important to note that this loan is a short-term financial solution, so you should be in debt within 14-21 days (on the day of your next paycheck). Direct lenders guarantee secure application and fast payments directly to your bank account.
Direct Lender Payday Loan For Bad Credit – Is It Possible?
More often than not, it is people with bad or poor credit who want to get a Payday Loan in order to cope with such needs as medical treatment, utility bills, apartment rent, etc. However, is it possible to get a loan from a direct lender with bad or poor credit history? Of course!
It doesn’t matter what your credit history is, as more often than not, direct payday lenders don’t ask for a traditional credit check at all. Thus, you can get a loan even if you have a bad credit history.
Eligibility Criteria For A Payday Loan Direct Lender
Each direct lender has its own eligibility criteria that must be met in order for your application to be approved. Review the requirements below and make sure you meet:
- Be a US citizen or official resident
- Be 18 years of age or older
- Have a regular monthly source of income
- Have an active bank account
- Provide government issued ID
- Provide social security number
- Provide phone and email
How Much Can I Get With A Direct Payday Loan Lender?
This loan is unsecured and short term, therefore direct lenders provide small loans for emergencies. Most often, you will be able to get from $ 100 to $ 1,000. However, please note that the loan amount may be limited by state law. For example, in California, the maximum loan amount from a direct lender is $ 255.
Advantages And Disadvantages Of Payday Loans From Direct Lender
Each loan has its pros and cons that you need to pay attention to before applying. Although the Payday Loan from a direct lender has many advantages, you should also pay attention to the disadvantages and make sure that this loan solution suits your needs.
Advantages:
- Simple application. It won’t take you more than 10 minutes to fill out the application, as payday lenders have made it as easy as possible.
- Fast approval. If you meet the basic eligibility criteria, applications are approved almost instantly!
- Direct lender. With a direct lender, you don’t have to overpay to third parties and wait for their approval.
- Fully online financing. You no longer need to look for a lender near you as the entire process is fully available online.
- Payments to a bank account. If your application is approved, you will be able to receive funding directly into your bank account.
- No collateral. Since the loan is unsecured, you do not have to provide collateral and risk your property.
- Bad credit is not a problem. Even if you have a bad credit history, you can still apply and receive funding.
Disadvantages:
- Short terms of payment. You must pay off the loan on the day of your next paycheck.
- Loan cost. Payday Loans are quite expensive so make sure you can repay the loan before applying.
- Additional commissions and payments. You may also face late payment penalties, early repayment penalties, and more.