Direct Cash Loans: No Broker Means Cheaper And Quicker
Direct cash loans are similar to cash advances 4 but there is never a broker involved as middleman 5, hence the word “direct”. So this type of cash advances 1 are performed and agreed directly with a lender that can be a private financial institution, a university 2, or even a college 3. As direct cash loans are approved and negotiated with the applicants without a middleman 6, process is faster 7 and prices are lower in general 8. Not only for loans, but also other businesses as real estate, it is cheaper and faster to sell your home without using a broker 9.
Direct cash loans are cash advances agreed between a direct lender and an applicant herein referred contractually as a borrower for a short-term loan with lean underwriting which is performed directly, thus without the intervention of third parties such as brokers or other financial institutions.
Direct cash loans, in comparison with indirect cash advances where brokers intervene, are distinguished for being faster in the application process, and not exposing your personal information to other companies than those involving brokers.
Your personal info is not sold to telemarketing companies and the reason is simple. Direct lenders are not interested in selling this data to a competitor.
Direct cash loans lenders handle the entire loan application, funding, and repayment process for all of its customers, what can be done quicker than with a broker.
Direct loans are always faxless, whereas with some brokers, you need to pass them the documents that they will handle to the lender for the underwriting process. This demands a lot of time and the requirement of borrowers like you is to have the money in the bank account within a business day.
There are many types of cash lenders. Most are licensed as either direct cash advance lenders or non-direct lenders. The difference between the two depends on whether or not they involve a third party that would take over the funding of your cash advance.
Advantages Of Direct Cash Loans Instead Of Brokers
A direct lender is often licensed to issue mortgages in the majority, if not all, of the 50 states. Rather than that, many brokers are only licensed in a few jurisdictions, which might cause complications if you apply for direct cash loans in a place where this broker is not licensed.
The cash loan broker is bound by the guidelines set by the individual lender of direct cash loans that are in the portfolio of the brokerage institution (the broker or a group thereof). For contractual reasons, the broker cannot waive certain requirements, discretionarily, in order to gain you as a customer.
Whereas direct cash lenders and brokers must abide to financial regulations, direct lenders can waive some requirements and fees, becoming therefore, much more flexible.
Each lender charges a fee for granting a loan, and therein is where the benefits lie. Nevertheless, brokers almost always charge larger costs than direct lenders, because we have to add the benefits for the broker. When considering whether to engage with a broker or a lender, it is critical to inquire about all loan generating costs before selecting one service provider over another one.
In direct cash loans, the borrower and the direct lender settle the terms and conditions of the loan almost immediately. Usually the loan is approved and the borrower accepts the terms of the financial instrument.
After that, the order is given to the bank of the lender to transfer the amount agreed to the checking account of the borrower. This happens the same day if you applied for the loan during the morning, or through a “next day ACH”.
With a broker, the process is much slower because the broker must pass the information to the lender. The broker does not have the ability to negotiate the loan with the borrower.
Pros And Cons Of Direct Cash Loans
Direct cash loans come with pros and cons, advantages and disadvantages. If you take them to get out of an emergency and pay outstanding bills that otherwise cannot be covered at its due date, then they are useful.
Nevertheless, as they come with high interests, it is preferable to pay them at its due date without a request for rollover or you can also split them into several installment payments at a monthly basis that would affect much less your budget.
So, regarding direct cash loans, let´s see in detail the advantages and disadvantages thereof:
Pros Of Direct Cash Loans
There is no credit check done and no employment verification. Suitable for unemployment situations too.
The form you are filling with us is not affecting your credit score as there is no “hard check” performed. It is an application form without credit score evaluation and without Teletrack scrutiny.
Neither the Teletrack database nor the information from credit bureau agencies are being utilized, generally speaking, by payday direct lenders as a means of checking the credit history of the prospective borrower.
Most applicants of direct cash loans would be approved regardless of their credit history, which makes these cash advances an attractive option for borrowers with bad credit. In general lines, as it has to be analyzed case by case, the borrower does not have to worry about the bad credit score being an obstruction toward the solution of the short-term financial difficulties.
Your bad credit score and history will not be an issue. As long as you show proof of a regular income, your past doings cannot necessarily affect your loan application’s outcome.
Any Source Of Income Can Be Suitable For Obtaining Direct Cash Loans
Regular source of income, that can be paychecks, alimony, partner income, unemployment benefits, social security income, pensions, child support, annuities, bank statements where you filtered your incoming payments, workers compensation, trust fund received periodically, installments of structured settlements and veteran’s assistance.
Any evidence as a sole proprietor, independent contractor, or current employment, that can demonstrate that you have a sort of regular source of income, even subject to fluctuations as with workers in the gig economy, and that you can pay at least the accrued interests of the loan at the due date.
Settle Outstanding Bills While Maintaining Your Credit Score
Instead of having the delinquency of an outstanding obligation and allow that circumstance to negatively affect your credit score, you will be able to pay that bill thanks to the loan obtained and maintain this aforementioned score.
Apart from affecting your credit score, the penalty of a bill not paid on the due date can be usually higher than the interest of our direct cash loans.
Spend The Money Of Direct Cash Loans Without Restrictions
In most of the traditional loans, you have to spend the money in a certain way contained in the promissory agreement, for example, to pay the mortgage of an eligible HUD property in an FHA loan, to consolidate or settle a certain debt or outstanding bill.
With these direct cash loans, you have complete freedom to use it in what you want. However, I will recommend to you that this loan is utilized only to cover emergencies, or outstanding bills, or any obligation that is approaching its due date and if unpaid will hurt your credit score. Do not use these loans for entertainment or holidays expenditures because they come with higher interests.
Any Credit Score Could Be Eligible With Direct Cash Loans
For traditional loans, you require at least a normal credit score to become approved.
However, in direct cash loans, and cash advances, what matters for the direct lender, is your ability to repay the debt at the due date, that could be two weeks, one month, or once a month in the case of installment loans.
Applying to a payday loan, cash advance, or installment loan will not affect your credit score, but will not improve it either.
Access To Cash The Next Business Day Or Probably The Same Day During The Evening
Direct cash loans are almost always approved in a few minutes and then the money is deposited in your checking or savings account the next day.
But you can also receive the funds during the same day in some cases. If you have completed the form and managed to submit it early in the morning, then the bulk transfer order released may include your financial institution. Due to that batch or bulk order, you will receive the funds already in the evening.
Compared to other types of loans, direct cash loans may be easier and faster to apply for, since the transactions can be handled from any Internet-enabled device within minutes.
Loan approvals can almost always be granted instantly unless further verification is needed, and in this case you will be requested to clarify some information or a customer service representative will call you.
Fast Turnout And Highest Approval Rates
When a credit check is circumvented, a loan can be approved the same day that the application is submitted. Moreover, the borrower generally receives the funds in their bank account the next business day, or the same day in the evening.
Faxless, A Great Advantage Of Our Direct Cash Loans
There is no paperwork of any sort involved in the process. The application, as well as its repayment, is a fully online process, right up to the final payment. Lenders guarantee a decision on a loan within seconds or a few minutes.
As it is a “direct” loan, there are no brokers involved that need to exchange information with a direct lender. There is no middleman when you apply with us. More on this below.
Direct Lenders, Not Brokers
There are only direct lenders, no brokers involved, and your application is processed instantly, and your loan is deposited directly into your bank account without the need for any paperwork.
The other advantage of applying for our direct cash loans is that you will be able to save up time as well, since you will not have to wait for the lender to check your credit report, to check your Teletrack history, and then decide whether to approve your loan thereafter.
In other words, there are no middlemen or brokers involved in the lending decision, meaning you can get the loan approved much faster, almost immediately.
Secure Encrypted Data
The information contained in the online form is submitted always encrypted (256 bit SSL encryption).
The direct lenders also utilize the same level of encryption.
Your data is not shared with other parties other than the direct lenders that will resolve about the approval of the loan requested.
No Hidden Costs
You have to be informed how much you will receive in your checking account and clearly, how much will be retrieved from that account at the due date of the obligation.
This is for all types of loans, of course, cash advances, direct cash loans, car title loans, and installment loans.
The appearance of hidden fees is the reason why we have limited our recommendations on tribal loans without teletrack: hidden fees in some very short-term loans where state laws are circumvented against the borrower.
You must know exactly how much you will receive tomorrow in your checking account and exactly how much you will reimburse at payday, or at the due date of the payday, installment or car title loan.
Only One Application Form
So, it is only one application form divided in two parts. Here you must fill it with data that you already have with you, such as your name, address, age, etc.
As this is direct lending, the process is simple and some requirements for your eligibility can be waived in order to gain the opportunity to do business with you.
Repayments And Rollovers Are Possible
You can set up automatic repayments that will be automatically deducted from your next paycheck or at the due date of the direct cash loans or at the maturity date of each installment, depending on the content of the promissory note of the financial instrument. Whenever possible, you should seek out lenders who do not charge prepayment fees or non-sufficient funding fees.
Furthermore, you can only pay the interest of the loan and rollover the main amounts for next month. Nevertheless, as the interests for direct cash loans are high, it is preferable to avoid this practice of rolling over an existing payday unless there is an emergency or outstanding bills that can hurt your credit score if they remain unpaid.
With installment loans, as the APR is much lower, it is a different story. However, in any case, avoid entering in a cycle of debt.
No More Stress
Well, this is not a financial advantage, but you will feel much better to know that your outstanding bills will be settled completely, and your credit score will remain as before. It will not improve either, because normally lenders do not communicate anything to the consumer rating agencies.
Higher interest rates
Any lender approving direct cash loans and no credit score check is certainly taking a risk by lending to individuals with poor credit, and that is why the monthly installments are so expensive.
Ascertain that you can afford the monthly payments; otherwise, you risk running into financial issues.
If the loan cannot be returned within the loan’s terms, there will be a rollover over the remaining sum into a new loan, giving the borrower additional leeway to pay back the debt.
However, as this extension is likewise subject to interest, so avoid rolling over and extending too much the loan. If you think that you will require to extend the payday loan, better go for an installment loan, as it has a lower interest and the amounts can be extended.
Limits In Some States To The Quantities Borrowed
In some states there are limits to the quantities that can be borrowed in these direct cash loans. Therefore, the prospective borrower has to move to an installment loan which is an option with less interest and less APR or a car title loan.
Only Maintains Your Credit Score And Does Not Improve It
This is because direct lenders do not do any credit score check when you request the short-term loan. And because they did not check at that moment, the lender would normally not report when you pay correctly either.
The major three credit bureaus do not conduct hard credit checks on instant
All these benefits will make the funding available to you the next business day in your bank account as soon as the business day ends. The process of getting your financial help without waiting weeks for approval and without any hassles is accomplished in one day.
Step By Step Process For Direct Cash Loans
1) The First Step In Obtaining Direct Cash Loans Is To Fill A Form With Some Details
The application for direct cash loans, installment loans, or a car title loans does not affect your credit score. Direct lenders do not perform a credit score check or a Teletrack scrutiny at all.
The first thing that you have to do is to specify how much money do you need. Simultaneously, enter information about yourself, including the mobile number of your home or workplace, as well as your email address.
You check the form and ensure that there are no typos and submit it.
Ensure that in the form, and allow me to insist with this, all the information is correctly entered and spelled without errors. Typos entered in the forms for direct cash loans will have as a consequence, a longer processing time since it cannot be approved automatically and instead will demand the intervention of a customer service representative to ask you to correct the errors. Thus, it is very important that you perform a strict check in the application form before pressing the “Submit” or “Send” button.
No one can guarantee that a loan will be approved for you, so because of legal reasons nobody can ensure you a “guaranteed approval” of our direct cash loans.
Nevertheless, you can receive an immediate decision upon completing our easy online application, which only requires the submission of basic information. So fill the form without errors for a faster processing.
Direct lenders will request solely simple documents from you, therefore it is almost sure that you have them with you already: an ID, an utility bill or any document that proves where you live. Therefore, all the required documents are already with you at home.
It is not a problem if you do not have an agreement in paper with the tenant and no utility bills on your name, or you just have a prepaid card without your address. Simply take your bank statement online, filter the item list and retrieve only the results where there are incoming payments of the last months. In this way, you prove a source of income.
Therefore, for sole proprietors, independent contractors, and workers in the gig economy it is also easy. As you do not receive paychecks or paystubs, simply utilize the 1099 form, or bank statements of the last incoming payments.
Furthermore, with us, you can evidence your source of income for direct cash loans with an alimony, the income of your spouse, unemployment benefits, social security income, pensions, child support, annuities, bank statements where you filtered your incoming payments, workers compensation, trust fund received periodically, installments of structured settlements, and veterans assistance.
Any evidence as a sole proprietor of current activities, that can demonstrate that you have a sort of regular source of income and that you can pay at least the accrued interests of the loan at the due date.
2) Receive Approval
So, statistically, most of the applicants are approved and receive a proposal called “offer” for the loan agreement.
Legally, nobody can guarantee an approval, despite the popular name of bad credit loans with guaranteed approval. Nevertheless, the immense majority of direct cash loans are approved unless there is a typo in the form that raises an error or that the documents that prove the source of income are not uploaded.
3) Accept Or Reject The Offer
Accept an offer with a click.
Previously, analyze the due date, the terms and conditions of the loan. After the conditions are read and you understand how much you will receive in your checking account, and how much you will pay at the due date of the obligation, then sign and accept the loan.
This part that we have just discussed is the same for all of the financial instruments like these direct cash loans.
4) Receive The Loan Amount In The Bank Account
Once the terms are agreed, the lender will proceed to transfer the amount to the checking or savings account that you have provided when you submitted the application to the loan.
The reason for that schedule in the transfer to your account is that normally lenders perform a cutoff at noon, and all the loans approved that morning, are included in a batch transfer order, or also called bulk transfer order. That bulk transfer order is broadcasted by the lender, through the financial institution of the lender, to the checking accounts of all the recipients of direct cash loans whose approvals were completed in the morning.
This batch transfer order, a bulk payment, is a remittance broadcasted to multiple payees, who are here the borrowers of loans issued that morning from the bank account of the lender to the bank account of the borrowers. The lenders prefer to work in this way. They release a bulk transfer request to all the loan contracts approved during that morning. This is done inside the website of their bank that has an application for bulk transfers. Lenders can then manage their accounting easier, because each of these daily bulk transfers counts as a single debit item in their general ledger.
5) Repay Or Rollover The Loan
This is the final step.
The online loan (car title loan, installment loan or payday loan) is then repaid on the maturity date (the final payment date), at which time the principal (the actual loan amount borrowed) and all the remaining accrued interests are due to be paid.
The due date depends on each agreement, because you may prefer the loan divided in several installments or paying it in one month, or at your payday. Therefore, the due date will depend on the preference of each borrower.
For a car title loan, it will be the date agreed, for installment loans, there is an installment due every month until the loan is paid.
For direct cash loans, the due date is normally agreed in two weeks, or in one month. But also there are borrowers that prefer to split the loan in several months, and that is fine too.
Ensure that your checking account is already provided with sufficient funds at the due date, because when the maturity date of the promissory note arrives, the lender will extract the payment from your account and therefore, the debt will be paid.
If the lender cannot retrieve the payment from your checking account because of lack of funds, the loan becomes delinquent and the lender will rollover the debt to the next month, so you have to pay next month with interest.
If you consider that you cannot pay at the due date or that you may require to extend the loan, the lender can in general convert the payday loan into an installment loan. This applies, in general, to all types of direct cash loans.
With an installment loan the amounts owed are split in three, six, or even twelve months, so it hurts less to the budget.
However, as this extension is likewise subject to interest, you should avoid rolling over and extending too much the loan. As I said before, if you think that you will require to extend the payday loan, better go for an installment loan, as it has lower interest.
Nevertheless, it is always better to take cash advances and direct cash loans only to cover urgent repairs, emergencies, and outstanding bills and not abuse of this financial instrument. Do not take direct cash loans for paying entertainment or holidays because they come with high accrued interests.
Different Types Of Direct Cash Loans Available
Direct cash loans are a very generic category of financial instruments, so we have to disaggregate among several types of these loans so you can understand better which is the one that better suits to your requirements
The direct cash loans available are:
- Cash advances and
payday loans. Payments are due in two weeks to a month.
- Installment loans: They have lower APR than
payday loansand can be returned in monthly installments.
- Car title loans: These loans are issued with a registered vehicle as collateral. The vehicle can be used by the borrower as normal.
They are similar in the sense that they are all direct cash loans when the conditions are met, but when we study them in detail, they are quite different. Let´s go into more detail with each type of these financial instruments available.
Payday Loans And Cash Advances Online Are The Most Common Type Of Direct Cash Loans
They are often available for a two-week period up to one month. They can be renewed and extended, what is called a “rollover”.
Even when you can rollover the payday loan during an additional month, it is not a good idea to do so because there are high interests, and you could incur in delinquency if you do not pay the loan at its maturity date.
Furthermore, remember always that direct cash loans are simply short-term loans envisaged to cover a specific determined emergency or unexpected event, such as a vehicle breakdown, a medical condition, a basement that suddenly appeared flooded and the homeowners insurance does not cover it, and cases like that. They should not be utilized to pay entertainment or holidays because they have high interest.
In contrast with one of these direct cash loans studied here, a conventional loan from a traditional financial institution will require a credit check. It entails getting your credit report from one of the three major credit bureaus (Equifax, TransUnion, Experian) and then analyzing your credit score.
Let´s see some typical cases.
- Amounts to Pay: Up to $1,000 are requested by the borrower
- Due date: The due date is up to one month after the approval. They can be extended if agreed between parties.
- Interest: From $10 to $30 for every $100 borrowed; This is a high interest. The lender compensates the risk inherent from your bad credit with a higher interest. This approach is typical in all direct cash loans.
- Repayment: The money will be retrieved from your checking account at the maturity date.
- Rollover: Possible if you inform to the lender that you require an extension. Try not to extend it during many months because in this case, it is cheaper for you to go through an installment loan, as we will see below.
Installment loans are also a kind of short-term finance that are available from direct lenders.
This is my favorite type of financial instrument in the category of direct cash loans and they fall somewhere amidst personal loans and cash advances in terms of costs and convenience (lower interest than
In contrast to
Installment loans are an acceptable option if you require more than $ 1000 and have a bad credit score.
For installment loans online we have do not credit check at all, and they enjoy an almost instant approval if the eligibility requirements are met, such as being able to pay the corresponding installments.
Furthermore, installment loans can be split in several months and have lower interest rates than
So in installment loans, you do not have to repay everything in two weeks or in one month or at your payday. In installment loans you have to pay the installment every month, so the total loan amount is split in several months and does not stretch your budget so much.
Applicants possessing credit scores below 580 encounter distress to become eligible for conventional loans. Moreover, when a hard inquiry is performed to the credit bureaus, the credit score becomes once more affected.
Instead, with these loans, you can apply with very bad credit. The requirement is that you can evidence some proof of income, to show a steady source of income so that, despite the poor credit score, it becomes clear that there is an ability to repay the loan at its due date.
Let´s see an example of an installment loan. This is still part of the direct cash loans category of financial instruments. Therefore, you will still expect high interests.
- Amount: up to $5,000 or even up to $15,000 depending on several factors;
- Terms: Can be paid in several months, depending on the amounts borrowed and your preference.
- Interest: Much lower APR than a payday loan and distributed along several months.
- Repayment: In fixed monthly installments over several months.
Auto Title Loans As A Type Of Direct Cash Loans With A Collateral
The auto title loans are secured loans that have as collateral asset, your car title. Only the title, because the car remains with you, the borrower, and can be utilized freely.
These auto title loans are known as “secured loans” because an asset is pledged as collateral. The rest of the bad credit loans with practically guaranteed approval are regarded as “insecure” because there is no asset determined as collateral of the financial instrument so the lender has more difficulties to determine the trustworthiness of the applicant that can just offer an evidence of his ability to repay the obligation at the due date.
A secured loan like this one, will compel the applicant to pledge of an asset that will serve as collateral of the obligation, in the case of a default in the payment of the obligation.
The direct lender will have the requirement that this collateral, the car in our case, has a value of at least 75% more than the amount requested by the prospective borrower when filling the form.
While auto title loans are not absolutely “guaranteed approval”, they are very fast and represent a preferred option if you have a car in good condition or if you are a driver in the gig economy such as a Doordash or Uber driver.
Just like in a house that you can have a mortgage, in a car you can have a car title loan wherein the car will be utilized as a collateral of the loan agreement. As the car itself, pledged to the title loan, is an asset that suffices to prove your ability to repay the loan, there are very high chances that you become approved even without a steady employment and very bad credit score.
So allow me the frivolity of the comparison, the auto title loan is the “mortgage” of your car.
The downside to car title loans is the high interest that lenders charge to these loans. Therefore, and the same as with
So as a conclusion of this paragraph, there are three types of direct cash loans that are payday, installment loans and auto title loans, wherein the latter pledges your car to the loan. If you need less than $ 500 dollars, a payday loan will get you out of an emergency and is paid usually a month after the approval. If you need more than $ 500, than you could request an instalment loan and split the amounts to repay in several months so it will not hurt a lot your wallet.
Eligibility Requirements For Direct Cash Loans
There are not many eligibility requirements to obtain any of the aforementioned types of direct cash loans. There is a few paperwork and normally all of us have those papers at home, and then to be able to demonstrate a source of income, even an irregular source.
So let´s go in more detail about those requirements that when accomplished by the prospective borrower facilitate the approval of bad credit loans.
Minimum age: Be at least 18 years old.
American citizen or green-card holder. US citizen, green-card holder, or permanent resident. Prove it with an ID such as a driver license.
Some proof of residence to identify your address. If you are required to proof your residence, the deed of your house wherein you appear as grantee or buyer, the rental agreement where you appear as a tenant, utility bills with your name in it, bank statements that declare your address, or credit card monthly statements are sufficient. In direct cash loans and in traditional loans for borrowers with a good credit score, the proof of residence is a mandatory requirement.
Social Security Number. Mandatory requirement. While there are some lenders that work with ITIN mortgage loans as subprime financial products, there is no access to direct cash loans if you do not have a SSN identification.
ID and basic data from yourself. Provide your name and surname, a phone number (landline or mobile), an email address and your residence address. Have a valid identification, being enough with a driver license or a US passport.
Regular source of income just to show that you can pay the loan at the due date. This can be paychecks, alimony, partner income, unemployment benefits, social security income, pensions, child support, annuities, bank statements where you filtered your incoming payments, workers compensation, trust fund received periodically, installments of structured settlements and veterans assistance. Any evidence as a sole proprietor of current employment, that can demonstrate that you have a sort of regular source of income and that you can pay at least the interest of the loan at the due date.
Checking account or savings account. The direct lender will deposit the loan here in this account. Please check the data of your account because if you submit it wrong, you will have to complete the form again before the approval of the loan, and this will be probably ten minutes more.
Faxless. No fax is needed when working with us, because we work with direct lenders and not with brokers. Brokers need to forward information to the original lender through the fax and that is not our case because your lender will be a direct lender, not a broker.
Source Of Income Required For Freelancers, Contractors, And Sole Proprietors For Direct Cash Loans
Your bank statements should be sufficient depending on their content. Filter your bank statements and retrieve only the incoming payment line items that depict earnings pay history.
You work for yourself if you are an independent contractor. You do not need a W-2 or a paycheck stub to prove income.
Another option is to go to the IRS site and request an EIN. Set up a small business name as a sole proprietor and the IRS will forward you an employee identification number in the mail. This is the EIN.
It is free and you can take this EIN certificate to a bank and open a business account and use that bank. Now all of your income goes to your business bank account which will make proving your earnings easier.
Any evidence as a sole proprietor of current employment, that can demonstrate that you have a sort of regular source of income and that you can pay at least the interest of the loan at the due date.
Inherent Risk In Direct Cash Loans
Direct cash loans for those with bad credit have a reputation for being highly risky. The reason for this is because these loans have higher interest rates (APRs) and costs than the majority of other loan types.
These financial instruments are not only dangerous for the applicants, but also for lending institutions. By providing online loans to applicants with a poor credit history, lending organizations expose themselves to risk.
The lenders, whether we speak about individual direct lenders or financial institutions have to hedge this risk, this means that the lenders have to compensate for and lessen the risk associated with prospective borrowers that cannot offer an asset as a collateral, and do not have a good credit core but they anyway search for direct cash loans.
A two-week payday loan’s annual percentage rate may reach 450 percent. Anyone contemplating such a financial loan should be confident in their ability to repay the financial instrument at its due date.
Loan Limits For Bad Credit Loans And The Possibility Of A Guaranteed Approval
If you require larger quantities, for example $ 1000 to $ 5000, the best option are installment loans. You should arrange those installment loans in a way that the payments are distributed in several months and they do not affect your budget too much.
For amounts that are lower than $1000, you could request a payday loan for one month or even in that case, request to split the payment in different monthly installments. Depends on how much you need to borrow.
Now, if you have a vehicle and remaining equity, you can also request an auto title loan. In some cases, you can request a car title loan even if you do not have remaining equity.
Applications from $100 to $15000
Direct cash loans can be requested here in quantities that range from $100 to even $15000 depending on many factors.
These loans can go from a simple payday loan to be repaid in a month, installment loans, and car title loans.
Here, you can apply for $100, $300, $500, $1000, $2500, and up to $15000 plus with installment loans and car title loans.
Due Dates For Direct Cash Loans
The determination of the due date depends on many factors, such as the amount to be borrowed and the creditworthiness of the borrower, but as a general rule, we can define the due dates like this.
Installment loans and auto title loans: The due date is usually in a couple of months and the range of funds that can be borrowed start in about $500. There are monthly installments that have to be paid. These loans can be rolled over through subsequent months when requested by the borrower and agreed by the lender or financial institution. Despite the rollover granted, the borrower must pay at least the accrued interests and avoid entering into delinquency.
The due dates and other terms of the loan agreement depend on that state you live in as each state can have its own regulations regarding how loans operate.
Here you can request direct cash loans, online and in the comfort of your house.
Could I Obtain The Funds The Same Day I Apply?
For direct cash loans, if you have applied and approved before 11 AM, it is very possible that you receive the funds in your checking account that same day.
The best moment to apply for direct cash loans is the morning of a normal working day before 11AM.
The reason is that the lender orders a bulk transfer in the afternoon to all the borrowers whose loans were approved earlier. Therefore, you could be included in this batch transfer.
If you have been approved after noon, generally speaking, then you will be included for a next day ACH transfer batch. The funds will arrive to your checking account during the next business day.