When in search of a loan over the weekend, most people tend to apply for payday loans. The reason why majority borrowers do not consider applying for traditional loans when they need cash during the weekend is because traditional lenders do not operate on Saturdays and Sundays. Also, their lengthy approval procedures make it difficult to fund borrowers quickly, which can in turn cause a huge delay in their borrower’s emergency situation.
In order to get cash advances over the weekend, borrowers therefore choose to apply for payday loans- and this could have 2 possible reasons why.
- Payday loan lenders offer cash advances 24/7. Weekend or no weekend, majority of them operate throughout. Since their services are now online as well, there are high chances of most of them operating throughout the 24 hours of the day. Borrowers therefore do not have to wait for Monday in order to apply for a loan, especially if it’s required for an urgent need.
- The next reason could be because their approval procedures aren’t lengthy at all, and they are known to give funds as soon as possible, mostly within just 24 hours.
On the other hand, if one is in sudden need of some extra cash on the weekend and chooses to apply for a traditional loan, s(he) would first have to wait till the coming Monday to apply, after which there will be a waiting period of a few more days before they approve the loan request and finally transfer funds. Instead of going through all this hassle, why not just apply for a payday loan as soon as the need for extra cash arises?
There is no doubt about the fact that traditional lenders come in handy when one needs a fairly large loan, possibly in order to invest in a business or buy a house. However, if one is in need of a small loan and quick, direct loan lenders are the way to go.
But, is applying for an online loan risky? Does it host multiple lenders on one website who may just start constantly annoying you with an unlimited number of phone calls enquiring whether you need a loan or not? Is applying for an online payday loan going to disrupt your day by making it annoying? Would your information be secure with a single lender or will it be passed on to multiple lenders? We shall answer all your concerns in the next segment.
Instant Payday Loans with No Brokers or Third Party Lenders
Applying for a payday loan is great when you’re in need of some extra cash urgently, or have a bad credit score and do not have any kind of collateral to offer.
However, how do you know which lender is legitimate, which website is fraudulent, which website is a third party lender hosting multiple lenders under its roof and more?
Well, in order to understand which lender to choose, you must carefully pay attention to small details which you may be able to find on their website. Phrases like “our lenders” should be taken note of since it may mean that that particular lender is a third party lender. Apart from that, if a lending website’s language seems questionable, it is best to avoid it. Also, if a website requires you to offer some kind of fee such as an “application fee” or a “processing fee”, do not consider applying with them. Always remember that you’re the one in need of money and not your lender.
InstantApprovedLoans is a direct lender offering loans that are instant approved, even on the weekends. While being a legitimate direct loan lender, one can get cash of up to $1000 even with bad credit.
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