Bad credit is the most used reason for rejecting a loan application. There could be multiple reasons behind a bad credit score. Banks or traditional lenders do not want to understand these reasons. They straightaway turn down loan applications from people with bad credit scores. However, a direct lender is the ultimate savior of such profiles. Online direct lenders do not consider having a credit check and easily consider installment loans for bad credit scores.
Through this blog, let’s learn who are direct lenders, their requirements, benefits, and the application process.
Online Installment Loans Direct Lenders
So, who are direct lenders offering online installment loans? Online lenders operating independently without any third party involvement are direct lenders. They process applications directly without any outside influence and hence are able to process loans for applicants with a bad credit scores as well.
Benefits of a Direct Lender for Online Installment Loans
Loans from direct lenders come with a lot of benefits. Some of these are:
- No Credit Check: Online direct lenders do not conduct a credit check and hence can even accept applicants with a bad credit score or no credit score.
- No Collateral Required: These loans do not require you to pledge your collateral. Pledging collateral could put immense pressure on repaying the loan.
- Fast Process: As there are no credit checks and collateral requirements, these loans do not take much time to process. Also, these are available online and hence can be processed quickly.
- Same Day Funding: Emergencies demand instant funds, mostly within the same day. Online installment loans from direct lenders can disbursed on the same loan approval.
- Transparency: These are transparent loans with no third-party involvement, and hence there are almost 0% chance of hidden fees and charges.
- Privacy & Security: You are not sharing your information with a bunch of lenders. Rather you are sharing with a trustworthy direct lender and can be assured of your privacy & security.
- High Approval Chances: These come with flexible requirements and have a higher chance of approval than indirect or third party lenders.
Requirements for Direct Lender Online Installment Loan
Direct lenders like us at CashAmericaToday have simple requirements such as the following:
- Your Social Security Number
- Your bank details and a 6 month’s bank statement
- Your salary slips/pay stubs from the past 3 months
- Proof of ID and age (18+ only)
- Your contact details.
Apply for an Online Installment Loan from CashAmericaToday
We are a direct lender and offer loans with flexible terms. Here is our easy process that can be completed in minutes.
- Access our online application from the website and fill it out with accurate information.
- Our team will get back to you with a decision.
- On loan approval, you will be asked to go through and agree to our terms and conditions.
- Post that your loan is disbursed on the same day of approval.
Get a fast online installment loan of up to $1000 from CashAmericaToday without the need to go through a credit check or provide collateral. Access our online application now to apply and get funding within the same day.