How a Fast Loan Can Save You From a Tough Situation
Are you in a tight financial spot and can't seem to find a way out?
Well, perhaps it's because you have been looking for help in banks and credit unions, where getting approved for a quick loan is an uphill task.
Your solution lies in getting a fast loan from a payday loan provider!
Over the past few years, fast loans have gradually grown in popularity. Every year, about 12 million Americans take out a payday loan. With most Americans living paycheck to paycheck, it's hard not to see this number rising in the coming years.
So, is a fast loan the help you really need?
In this article, we're sharing ways a quick loan can save you from a tough situation. Keep reading.
Low Credit Score? No Worries
In the mainstream or formal lending markets, having a strong credit score is crucial to securing a loan.
Yet, in today's harsh economic times, not everybody has the ability to maintain a high, or at least a decent, score. You'll probably secure a few credit cards here and there, fall behind on repayments, delay a couple of domestic bills from time to time.
As you strive to get your personal finances together, your credit score will take a hit. And with a poor score, banks and other commercial lenders will always play hardball with their money.
Here is the good news: Payday loan lenders don't care about your credit score.
As long as you have proof of income, your fast loan will only be a few clicks or hours away.
No Complicated Paperwork
Ever applied for a bank loan and wondered why you needed to fill out so many forms?
Even though many commercial lenders are now embracing technology and making loan application easier and friendly, they are not there yet. Expect to work with lots of paperwork.
However, when it comes to payday loan lenders, the paperwork pain is completely eliminated.
On most occasions, all you will need to do is fill out a single online form, provide your personal details, submit proof of income, and voila!
There are no unnecessary checks that are only designed to make the approval process longer and unbearable. In addition, who wants to deal with multiple pieces of paper when they are in financial distress?
Save yourself and get a fast a loan.
Life, at its core, is uncertain.
You don't know what tomorrow, or even the next hours, brings. You could be breezing down the highway, and from nowhere, a speeding vehicle rams into you.
Your car is completely battered, and you're also injured. If you don't have proper health insurance, you'll need to dig deep into your pockets to fund your treatment. Suddenly you're out of cash, and you need immediate help.
You might reach out to a couple of relatives, some will heed your call, but you may not raise the amount you need. You think of approaching your bank for an emergency loan, but it will take days to get the money.
Ease up. You can get an installment loan with monthly payments and no typical credit check.
Yes. Fast loan providers have incredible quick approval times. In fact, you can apply for the loan online, and some providers have instant approvals.
How's that for convenience?
Decent Loan Amounts
Even though banks are difficult to work with, they are your best bet when you want a larger personal loan.
However, this doesn't mean payday lenders can't measure up to your financial needs. With the ability to offer loans of up to $2,500 or even more, you can count on fast loans to help you out in your hour of need.
In addition, if you have a large monthly income, it's possible to get multiple fast loans from multiple lenders. This will increase your chances of raising the amount of money you need to get out of your sticky situation.
Get Your Money in Cash
Here, were are comparing fast loans to credit cards.
Sure, credit cards can come in handy when you are in a tight spot. But they have their limitations.
For instance, if you're able to take out a credit card with a $10,000 spending limit, this doesn't mean you have access to the entire junk of the money. As a matter of fact, you can typically only access $2,000 in cash advance!
On the other hand, fast loans enable you to get your money cash.
Once you're approved for an installment loan even with bad credit, for instance, you'll have access to this full amount, unless the associated fees and service charges are deducted from the approved loan amount.
With cash at your disposal, all that will be left is for you to resolve your tough situation.
Flexibility/ Spending Freedom
You see, when you take a mortgage or car loan you'll not be able to use the proceeds for any other purpose. A mortgage loan must be used to buy a house, and car loan must be used to be a car!
On the contrary, fast loans are flexible. No one will come after you to monitor how you use the money.
In addition, you won't necessarily have to disclose the purpose of the fast loan during the application process. This is important, especially when your tough situation is deeply private.
Interest Rate Caps
When you're in a tough financial situation, the last thing you want to do is dig a deeper hole for yourself.
Sure, fast loans do come with higher interest rates than traditional loans. But their life-saving ability surely trumps this downside.
Even better, some states have laws capping the percentage of interest these lenders can charge. You can rest assured no one will hike your rate because you're in a desperate situation.
Fast Loan: Quick and Convenient Solution for Tough Times
Whichever way you look at fast loans, one thing is clear: They can get you out of a difficult situation in a way no other loan can.
At WireLend, this is what we are all about; helping you get financial help when you need it. When you apply for a quick loan through our platform, we instantly match your application to one of our lenders.
Feel free to get our no obligation quote. And if you have any questions, please get in touch with us.