What Are the Benefits of a Cash Advance Direct Lender?

When bad luck strikes, you don’t always have the cash to handle it.

If a costly auto repair or medical expense is more than you can afford, you can turn to direct cash advance lenders for help. They offer convenient online loans that work well under pressure, but what makes them so special?

Here are four reasons why people choose direct lenders online when they need short term personal loans.

1. They Work Well Under Pressure

Engine trouble can strike at the worst possible time, when you’ve already maxed out credit cards, used up savings, and payday’s still weeks away. If you rely on this car to get to work each day, you can’t postpone its repair until you get paid or save up enough.

Direct cash advance lenders understand how time sensitive a financial emergency can be, which is why they try to provide fast turnaround times with every application. Depending on your lender and bank’s policies, you may even receive your funds as soon as the next business day.

To expedite the entire process, you can find a lender that provides direct deposit loans. This way, they’ll move your approved funding into your bank account as soon as possible without needing extra paperwork or in-person negotiations.

2. They Don’t Involve Other Financial Institutions

These lenders don’t partner with other financial institutions at any stage of the lending process. They’re responsible for everything involved with your online loan- from the initial application to sending you funds and overseeing your repayments.

In other words, you only have to deal with the lender you’re applying with, never another bank or loan matching service. With no middlemen complicating the process, you might find it easier to keep all the details of your loan straight.

3. They Are Safe and Secure

Before borrowing, it’s always a good idea to check a lender’s security policy and license to lend. This ensures a financial institution follows all the best practices as a lender.

Once again, this is easier to oversee when you’re dealing with a direct lender rather than a loan matching service. A loan matching service collects your personal information before shopping your profile around to its network of lenders. Depending on the matching service, you may not have a chance to review third-party privacy policies before your info gets exchanged.

The best direct cash advance lenders host secure websites that follow industry-standard privacy policies to ensure the information you share over the web is collected and stored safely.

4. They Lend to People with Poor Credit

Has your credit score seen better days? Bad credit score often leads to a big, fat rejection from financial institutions, but not direct cash advance lenders. Many online direct lenders cater specifically to people with subprime credit, giving you a chance to qualify when others would reject you right off the bat.

Legitimate direct cash advance lenders will check your credit, as well as your pay schedule, employment history, and income to determine whether you can afford their rates.

The Takeaway

When you’re down on your luck, online direct lenders might offer you a way to get back on your financial feet. With secure and fast loans available even with bad credit, these financial institutions provide an uncomplicated option in an emergency.