Are you looking for an online loan that has guaranteed approval regardless of your income or credit score?
You have a pressing financial issue that requires instant funding. We know how frustrating this situation can be, and that is the reason why we are always ready to help.
When you are faced with such an issue, you obviously would want to hear from someone who is willing to offer a helping hand. Family and friends can be a good option to start, but they may not have the funds you need since you requested it in the middle of the month or when they are short of cash.
So when all the available options do not work out, you can consider applying for a payday loan. The good news is that guaranteed payday loans bad credit are also available, and can be issued to people with good and bad credit scores as well.
If you need instant cash, the most worrying thing would be when the payday loan will be approved.
Do not worry about this, since the loans have instant approval. All you need to do is apply and relax. The funds are directly deposited to your bank account on the same or next business day depending on the application time among other factors.
Payday loans, which can also be termed as ‘fast cash advance’, are offered during a short period of time. At no point should you apply for the loan if you want to make a long term investment?
If you want to use the funds to purchase a major home appliance or start a small business, then an installment loan can be a good choice and not payday loans. Payday loans and installment loans are different in terms of the interest rate and the loan term. While short term loans come with a high-interest rate, installment loans can be paid over a long period of time.
Another important issue that you should consider in guaranteed payday loans bad credit is the state rules that govern the loans. In some states, you can qualify for a payday loan of up to $1000.
Also, interest rate and fees for the loans should not exceed a certain amount. But in other states, you can only apply for a payday that ranges from $300 to $500.
Lenders provide short term loans with the sole purpose of helping applicants attend to meet an immediate financial need. Most of the loans are therefore offered under not very friendly conditions.
As a rule of thumb, only take out a payday loan if you have an issue that requires instant funding like medical emergency, unexpected home repairs among others.
Note that if you take out a payday loan regularly, your finances will also be affected since the loans have higher interest rates and fees compared to other types of loans.
Most people have the perception that applying for a short loan with bad credit is a waste of time. But this is never the case. Unavoidable circumstances may have occurred in the past that affected your score, and payday loan lenders completely understand this.
So don’t think that you won’t qualify for a payday loan because of a bad credit score. In fact, the loans can also help rebuild your credit if you make full and timely payments.
The aim of guaranteed payday loans bad credit is to help a consumer have peace of mind knowing that their loan application will be reviewed and approved regardless of his or her credit status. Provided that you are permanently employed and can provide recent copies of bank statements as proof, you only need to find a reputable lender in your region is willing to help you get out of the situation.
When applying for guaranteed payday loans bad credit, ensure that you provide all the documents that the lender requested. This includes a copy of proof documents like ID and bank statements. Your personal information will also be required. Once you meet all the lenders requirements, you only have to wait for approval, which usually takes place within one or two business days.
If you meet the requirements, you can qualify for loan amounts between $100 and $1,500. The idea is to help you when you need to attend to an emergency issue. You can also negotiate with the lender on loan repayments, which means that you can choose the terms that suit you best.
The process isn’t complicated, and there is nothing fishy to worry about. Besides, the application procedure is quite simple as compared to bank loans. With bank loans, a credit check is also performed which does not happen for payday loans. Lenders approve the loan based on the borrower’s ability to pay.
Therefore, do not be concerned about credit checks that can damage your score. Only worry about this when you apply for a bank loan. The loans need some form of collateral and other verification documents before approval. Most consumers are not in a position to meet all these requirements which makes guaranteed payday loans bad credit a good alternative.
Usually, payday loans are offered in small and medium amounts. And there is no issue in applying for a bank loan either. Bank loans work almost the same way as payday loans, only that a lot of formalities are required before approval.