Term loans have a strong purpose in the financial plans of many people. With today’s robust and ever-changing lending market, it is no longer necessary to maintain savings to cope with every emergency. Some emergencies can be handled by savings, while others can be handled by a combination of savings and loans or by loans only.
When borrowing is chosen as the way forward, there are several options:
- Loans from friends and family members
- Loans from banks
- Credit card loans
- Payday loans
- Short-term loans from a direct lender
Although the first three options are not in all ways, suitable for emergencies and/or are not accessible to many people, the last two are considered by millions of people in the event of an emergency.
Most people in an emergency may not be able to repay payday loans on time and, as a result, short-term loans from direct lenders tend to be a preferred option to meet these needs.
The key is, to then partner only with a reliable direct lender that can provide short-term loans with a guarantee.
What makes a loan ideal for emergencies?
There are a few points that make a direct lender short-term loan ideal for emergencies. Here is:
- Some direct lenders guarantee approvals subject to loan eligibility
- A loan that is easily requested and can be approved and credited quickly is ideal for emergencies
- People prefer online loans in case of emergency, as they don’t need to physically show up with a lender or broker to get the loan
- A loan that can skip the credit check (loans without a credit check) can serve more people and reduce delivery times, making emergency loans more feasible
- A loan with flexible repayment options is more ideal than a loan with less flexibility.
Identification of a Reliable Direct Lender
During a time of need when there is already a lot to do, what a borrower should really avoid is the risk of having applied for a loan from an illegitimate lender. Sine non-bank direct lenders do not have the same level of prominence as most banks, determining the reliability of a lender is an important part of choosing a loan. Here are quick and easy ways to know that a lender is trustworthy:
- Verify the online presence of the lender’s services
- Avoid emergency loan brokers, as they can cause delays
- Look for real feedback on the online lender’s services
- Search for accreditations such as BBB and website security certificates
- Look for a contact number and email ID that are present on the website and are valid
- Stay away from a lender that offers suspicious offers such as a “free one-month fee”, “30% off fees”, etc.
Apply for a Short-Term Loan offering a Guaranteed Approval
At CashAmericaToday, we provide guaranteed short-term loan approvals for borrowers who meet our fairly basic eligibility criteria:
- Proof of stable income (current employment)
- SSN as proof of permanent residence or U.S. citizenship
- Proof of identity and age (18 years or older)
- Active bank account
With CashAmericaToday, you can be sure that you are applying for exactly what you need: a short-term loan guaranteed by a trusted direct lender only. If you want to go directly to our online loan application form, here is the link for your convenience.