Being short of cash to resolve your personal financial obligations can be one of the most stressful scenarios that you can experience. In those instances, where you don’t have enough time to apply for a second job quick enough to get the cash you need, your only option might be to resort to a bank loan. However, bank loans can also take a long time to qualify. The next best option would be a payday loan through a direct lender which can help to meet your needs either the same day or by the end of the next. A bank loan vs a payday loan. When applying for a loan through payday loans direct lenders your application gets approved within minutes to a few hours before the funds are deposited into your account. No thorough credit check is required either. On the other hand a bank loan usually takes weeks to get approved and a complete credit history check is required before any approval can take place.
In comparison, the short term loan wins hands down when anyone is in desperate need for some quick cash. To also compare the loan duration, bank loans usually win in that regard, since the repayment time can span from a few weeks to a few months unlike payday loans which come due on the next pay period. The best source for a payday loan is through a direct lender. There are tens of thousands of websites that offer to provide a payday loan, but many of these sites are simply aggregators or review websites and do not provide direct contact to a lender. In some cases, you might need to go through hoops to find out who your lender is.
The proper way is through a direct lender and when you apply for a loan, you receive an email upon approval to confirm that your application was successful and that you will be receiving your cash into your account within a specific amount of time. Some people apply to at least 5 payday sites before they receive an approval, but it is still time consuming and difficult to know exactly who loaned you the funds. Using a loan service that matches your application to a lender is a good option since they do the research and are able to locate the best interest rates for a loan if they work with specific lenders, however some do have access to your personal information and then forward the details to a direct lender. If you don’t want your personal information to fall into the wrong hands, then you might want to do your homework on selecting a reputable direct lender source before applying for a loan.