Guaranteed Payday Loan Direct Lender

Unpredictable expenses that affect your financial stability are almost the norm. Getting short-term loans to patch a hole in your budget quickly may be a challenge. Online loans have gained the trust of millions of borrowers thus far. These bad credit loans have a high approval rate and accept applications with a good or bad FICO score. Such loans can help you when you face unexpected financial expenses. An urgent car repair case or medical bills that you must pay immediately are common examples. When you need a couple of hundred dollars to make ends meet until your next payday, a short-term loan is a quick way to get fast cash.

What Exactly Are Guaranteed Payday Loans?

When referring to “guaranteed payday loans,” we mean bad credit payday loans. In other words, these are financial products that let you borrow small dollar amounts for a short timeframe. Payday lenders authorize amounts up to $1,000 for a loan term of maximum four weeks. Moreover, they don’t pull your credit report as traditional lenders do. Thus, bad credit loans are accessible to almost anyone. You then must repay your debt in one lump sum on your next pay date.

Guaranteed approval is granted to all eligible candidates. That includes applicants with bad credit.

Generally, payday lenders have high rates of approval. However, that doesn’t mean that 100% of the applications receive a positive response. Official data shows that around 70% or 80% of applicants qualify nationwide.

How Are Payday Loans from Direct Lenders Different?

Unlike traditional financial products, an emergency loan from direct loan providers works faster. First of all, the application process is much faster. With a bank or a credit union, you may need days or even weeks to go through the application process. Direct payday lenders, though, check your eligibility in a matter of minutes. That is partly due to the shorter number of requirements. Verifying also goes fast, with an emphasis on your income source. If it checks out and you sign the contract, you can get your funds as soon as within one business day.

Payday loans have shorter terms compared to traditional loans. That means you will pay off your debt fast. The loan amount you can borrow is limited and varies by state. You can access a maximum of $1,000 if one of the direct payday loan lenders approves your request. Thus, your risk of defaulting on your loan is lower.

Rates and Fees for an Online Loan

Guaranteed approval loans have fixed interest rates. You could pay between $10 and $30 for every $100 you borrow. Thus, a $500 at a $15 fee will cost you a total of $575. Some loan providers may have origination fees. They will add up to the total payment.

As for the APR (annual percentage rate), it is less critical in the case of short-term loans. It can reach up to 400%. APR values are more relevant for long-term loans. That’s why borrowers don’t pay much attention to these numbers when applying for small cash loans.

Keep in mind that loan terms and conditions vary by state. Thus, state authorities often capped amounts, fees, and APR rates. Also, rollovers may be accessible or banned in your state of residence. It’s helpful to read about the state laws in your area before making a loan request.

Features and Benefits of Guaranteed Payday Loans

More Americans turn to bad credit loans to solve their emergencies. These online loans have earned the trust of borrowers due to their unique features:

Online processing

You can submit a bad credit payday loan request online. If approved, all the documents may go through as digital files. That means zero paperwork and faster processing.

Reasonable requirements

Traditional loan providers have long lists of qualification criteria. A direct lender will only check your eligibility against a few main requirements. That improves your chances of approval.

Accessibility

Anyone who meets the basic criteria is entitled to get a short-term loan. There are no limitations for the eligible candidates.

Soft credit checks

Traditional financial institutions run a hard credit check for each candidate. In contrast, a direct lender will only perform a soft check. As an effect, your score will not be affected.

Fast deposits

A typical payday loan gets into your bank account as soon as within 24 hours. Sometimes, the transfer may go through even sooner.

Can You Get Approval with a Bad Credit Score?

You can get approved for a payday loan even with bad credit. The reason is that your lender doesn’t pay much attention to your credit score in the first place. A bank will pull your credit history through major credit bureaus. To them, your credit score is crucial in establishing your eligibility. For that reason, banks have minimum credit score requirements. Applicants with bad credit have little to no chances of approval. They may try using collateral or a co-signer who has a fair score. In contrast, a bad credit loan will accept loan requests from people with a poor credit score. As long as the applicants meet all the other requirements, they can get loan approval.

A poor credit score can’t stop you from getting loan approval. However, it cannot guarantee a low-interest rate. If your financial situation is unstable, it means that it’s risky for businesses to lend to you. In effect, you may get higher interest.

Do You Qualify for a Guaranteed Loan from Direct Lenders?

The good news is that most applicants qualify for loans for bad credit. Direct lenders run your details through a shortlist of requirements. To these, they may add a few more conditions. Thus, to qualify for a payday loan, you have to:

• – Be a US citizen or have a permanent resident status;
• – Have an active bank account;
• – Be at least 18 years old;
• – Have a steady source of income;
• – Provide your email address and phone number.

If you have experience with personal loans before, you will find payday advances convenient. Unlike a personal loan, a payday advance will partly look into the customers’ credit history. For that reason, bad credit scores cannot stop you from getting approval. Some direct lenders state they will run no credit checks for their loan services. The truth is that any loan provider will run at least soft credit checks.

Those with a good credit score that check all the requirements enjoy almost 100% guaranteed approval on payday loans with no hard check. On top of that, they may get a better interest rate on their cash advance loan.

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Application Steps for Payday Loans Online

To apply with NCCL No Credit Check Loans, you need to follow a set of simple steps, detailed below. Above all, being prepared could help speed up the application process.

1. Complete the online form. You only need a few minutes to fill out the information required. Feel free to apply even if you have a poor credit rating. That will not influence the lenders’ credit decisions. In fact, for most people applying for no credit check loans, guaranteed approval is granted. Our lending partners will look into your application then follow up with a contract if you are eligible.
2. Get approval. A no credit check direct lender will send you a loan offer if you qualify. Your poor credit history doesn’t impact the lending decision. For that reason, the service provider will not run a hard check through major credit reporting bureaus. In effect, you save time and receive feedback sooner. The payday lender will notify you of the guaranteed loan approval in minutes. They will also clarify any credit implications if you need additional explanations. It is up to you to read it and decide if you want to proceed. Sign the loan agreement and send it back to the lender to confirm your consent.
3. Receive your funds. The lending process is quick. Once the lender has your signature, they wire the funds into your active checking account. Most customers can access their money within one business day.

What You Need to Know Before Getting a Loan

No refusal loans that overlook the data from your credit report are attractive. Moreover, getting the money in your bank account within one business day is convenient. Consider the factors below before submitting a loan request for an improved process.

Your lender’s reputation

Check customer reviews and the company’s reputation to be on the safe side. You will thus filter out the red flags and reach trusted businesses.

Loan qualification criteria

Keep in mind that lenders set eligibility criteria according to state laws. It’s worth checking what state authorities allow in your area, then comparing lenders. Your debt-to-income ratio is a priority for direct loan providers.

Total costs

Many applicants don’t crunch the numbers to find out the total cost of the loan. Besides the principal loan amount, you have to pay interest. Calculate it according to the interest rate in your contract. Other than that, there may be additional charges.

Frequently Asked Questions