Payday loans have a reputation of being amongst the easiest sources of borrowing funds. For this reason, many today use them as loans for emergencies. Yet, there are some payday loan options that are easier than others. Specifically, some of these loans are easier to get approved for, than most of the other payday loans in the market. Here, we discuss the easiest payday loans to get approved for, and what makes them so easy.
Note that we exclude options that are likely to be unsafe as we believe that it’s best for our readers to stay away from those options.
Loans with High Approval Rates
The best indicator of how easy and reliable loans are, is a high approval rate over a period of time. For example, at CashAmericaToday, we have been able to achieve an approval rate of over 94% over the recent years, which can qualify us as maintaining amongst the highest approval ratings in this class. What this means, is that 94% of the individuals who match our eligibility criteria for loans, get approved for the loans they apply for.
Typically, the ones rejected are those who apply for amounts that their income is less likely to support the repayment of, and we make these rejections keeping in mind the safety of the transaction – for both the borrower and us. In such cases, we offer loans of smaller values, which are sometimes accepted by the borrowers and sometimes not. However, as you shall read ahead, we at CashAmericaToday do not reject loan applications from individuals who are eligible for our loans.
Instant Payday Loans Online with Guaranteed Approvals
Amongst the most frequently searched payday loan types is an instant online payday loan with guaranteed approvals. Some direct lenders including us at CashAmericaToday, offer such loans. These loans feature a combination of these factors:
- Fully Online Applications: The application for the loan is a completely online process, requiring no faxing and no paperwork. All documents are submitted as scanned copies and all signatures secured are digital.
- Quick Verifications: All submitted details and documents are to be verified for authenticity and accuracy. This is done with no delays and wherever third-party assistance is needed by the lender, it’s done at the first hour available. Once done, a verification is also carried out to check the loan eligibility of the borrower considering various parameter.
- Instant Approvals: Once found eligible, the loan approval is instantly communicated to the borrower.
- Guaranteed Approval subject to Eligibility: Provided all information and documents provided are authentic and the loan amount applied for is found to match what the borrower is considered eligible to, we at CashAmericaToday guarantee the approval of the loan.
- Direct Deposit upon Acceptance of the Offer: Once the offer of the loan is accepted by the borrower, a direct deposit transaction is processed with no delay. Depending upon the bank’s service, the credit features soon thereafter.
While some borrowers assume that an “instant payday loan” would credit funds as soon as applied for, that’s not what happens in practice. Each essential step in the lending process is cut down to as short and quick a process it can be, without a significant compromise on safety and that’s what makes these loans fast, yet safe to a fair extent. Any further reduction in processes or time may lead to a significant reduction in the safety of the transaction.
Payday Loans Online featuring No Credit Checks and Instant Approvals
Just like the loan above, there are also payday loans available online that feature instant approvals and no credit checks. Apart from being quick, these loans skip the credit check and doing so serves 3 benefits to the borrower:
- No credit check loans have enhanced approval speeds as credit checks are time-consuming
- Bad credit score holders are welcome to apply for the loan as the approval and assessment system instead focus primarily on the income of the borrower and not the credit score/history
- Credit scores of borrowers remain unaffected by the borrowing transaction.
Choose the Right Payday Loan Organization
When looking for an organization providing payday loans, you have four choices and here’s what they are:
- Online Direct Lender: Direct lenders that provide their services through online media.
- Loan Matching Services: Services that match loan requests with suitable direct lenders.
- Payday Loan Brokers: Brokers who take payday loan requests and forward them to lenders and then transact with customers on behalf of the lenders.
- Physical Store based Direct Lenders: Direct lenders that provide their services through a physical office or a store.
Why Payday Loans available Online through Direct Lenders are the Easiest
When you choose online direct lenders for your payday loans, you shall get these benefits:
- No third-party involvement in the deal from matching services or brokers means that no commissions get added, so your loan is at its actual tariff
- The reputation and customer service quality of physical store based lenders is hard to know before transacting with them. Good online lenders have a prominent online presence and understanding their service quality beforehand is easy
- Dealing directly with a trusted lender like us at CashAmericaToday means that your data is secured by an encrypted system and since third-party entities are not involved in the deal, you can rest assured of your security and privacy, making the transaction more relaxing for you
- From guaranteed and instant approvals through quick deposits – all process become easier and faster when you deal with your lender directly
- Being online, the services can be used 24×7, from anywhere where the internet works – not being required to be physically present at the lender’s office or store makes borrowing very convenient, especially when you’re in a situation where you are dealing with an emergency (which is often the reason one chooses to borrow a payday loan).
Best Choice when You Need a Payday Loan Immediately
When in a hurry or a situation of emergency, you may need a payday loan that credits as soon as possible. With loans, safety is a must so skipping the unsafe options, an online payday loan with a high approval rate offering instant approvals and no credit checks is likely to be your best option. Choose CashAmericaToday and you shall have all these benefits provided to you by us as your direct lender. To get a loan, you can apply for one immediately and we shall get in touch with you to offer a deal that best suits your requirements.