Simplifying Your Borrowing Experience – Direct Lender

A sudden need for money can arise anytime be it for your bills, travel or an emergency, the fast access to money can be provided by direct money lenders. We all plan for our finances well in advance to avoid any discrepancies but sometimes things fall out of place for anyone.

Most bills have sky-high penalty charges for late payment and if you miss them by any chance, you’re in big trouble already. It can happen with anyone, sometimes you might be so much stressed with something and you forget to pay your bills. And the penalty charges might seem out of budget.

direct lender

So, you’re short of money to pay for the bills and you don’t know whom to approach for a fast response; how about direct lenders?

Before you think about different options, let’s look at these 5 points for simplifying your borrowing experience.

#1 Direct lenders – who are they?

A form of corporate debt provision where lenders (except banks) make loans to companies without any intermediates like a broker, an investment bank, etc. are known as direct lenders.

It means that the lending process becomes easy as there is no intermediate and you can directly approach the lenders for your need.

#2 Direct lenders VS mortgage lenders

When you are in urgent need for money, you will be baffled to choose the right money lending option. Most people live in the myth that mortgage lenders offer lower rates than the direct lenders. The rates in the case of mortgage lenders totally depends on the market trend as there are lots of intermediate steps in the money lending process.

#3 Direct lenders – a fast & easy approach

The direct lenders have streamlined their approach for the people and made it a very user-friendly experience. Now, you don’t have to worry about the long application processes, extensive financial reviews, waiting time etc. as in the case of traditional lenders.

How does it benefit you?

  • Convenient and straightforward process
  • No need to fuss about travelling all the way, it’s online!! Even the initial application can be processed right there sitting relaxed at home and sipping your coffee. The only thing is you should have proper internet access and willingness to share your contact and financial details to fill the form. You can see the status online if you qualify for the process or not.
  • No more fixing appointments and spend time to just know your status.
  • Once you qualify, the amount for the approved loan reaches your bank account directly.
  • It just takes a one business day for the entire process!!!!! There is a quick way for same day lending but it depends on the place you stay and your business profile.
  • All your information is verified over a phone call and then your application is processed for a fast cash advance.

#5 More solutions by direct lenders:

Direct lenders offer a variety of solutions along with normal lending option. You have to convey your needs and based on your location, the direct lenders can provide offers like a $1,000 advance or even credits with varying terms for repayment.

All you need to do is to fill the form online and check if you qualify for the required loan amount. Once you’re done with the first step, you can choose from the different direct lenders available in your city or town.

Have you heard about Credit Assess businesses (CABs) & Credit Service Organizations (CSOs)?

If the direct lenders are also Credit Assess businesses (CABs) and Credit Service Organizations (CSOs) then they have the privilege to facilitate extra things for your loans to ease your problem. For instance: direct lenders same like the financers at MoneyKey are CABs and CSOs, so they can facilitate the installment loans with extended terms for repayment on your behalf.

Each state has different laws for regulating financial products within their borders and the offers that the direct lenders can provide within the state. So, it is better to check in advance about the laws in your state regarding these few things:

  • Your installment loan
  • Cash advance
  • Personal line of credit

Before you jump for any loans, make sure your direct lenders, CAB or CSO has the appropriate license for the financial products that he has offered to you.You need to check if the financial products they offer are in accordance to the laws of the state before you select one. The state awards the license to the companies who abide by the laws of the state and then only the products are approved.

Summing up:

Try to gather as much information about the lender before you opt one such as accreditation, rates, terms and conditions etc. It’s good to spend some time on this research so as to repent later. You would have understood that direct lenders simplify your borrowing experience and lend money on a quick basis.

About Peter Christopher

Peter Christopher is the Editor to Finance care Guide and a guest columnist for many blogs that deals with financial issues. He has devoted himself to full time speaking, writing and consulting on personal finance management. Visit him on Google Plus and Twitter.