Here is the list of the most frequently asked questions with regards to small cash short-term loans. Make sure you go through all of them and if you have other inquiries about our service, please, contact our support team. We do our best to provide you with the most suitable credit option you need.
What is a samll cash short-term loan?
Under the term of a small cash short-term loan is understood a credit up to $1,000 that is granted for a period no longer than 4 weeks. The latter term can be different with regards to different lender and state. Such loans are also called emergency loans as they are relatively expensive in terms of interest rates and are meant for the situations of unplanned financial complications. For that matter the loans are easier and faster to get.
How to be approved?
Short-term loan approval process is simple. It takes little time and is carried out online. You will be asked for some personal information that is required for loan decision. Most lenders adhere to the follwing list of requirements upon application:
- legal age over 18 years old, the US citizen;
- legal employment, permanent income;
- the proof of valid address;
- active checking account/direct deposit.
In some cases it is possible that a lender can ask for sone additional information and proofs of some documents. The application process, thus, can take longer time.
Is it safe?
How long does it take?
Short-term loans are usually easy and fast to get. The first reason is that the process is carried our online; secondly is that you can apply 24/7. Applicaiton takes few minutes, approval is usually granted within hours – we send your information to a lender that then provides some loan decision (approval or rejection). In case of the first, the money is transferred within one business day; in case of the latter you can try making another application.
Is bad credit a problem?
It is possible that some lenders from our network can perform credit checks by applying to credit bureaus; however, in the majority of cases this step is not carried out. Most lenders do not take an applicant’s credit rating into consideration; they are interested in a person’s present creditworthiness. You should, however, take into consideration that low credit rating may influence a loan approval decision.
Why a direct lender should be contacted?
At Immediatepaydayloan.com we represent a mediator company that matches borrowers with suitable lender offers. We are not direct lenders are are not resonsible for loan decisions, nor do we grant any loans. As long as you choose to use our service and apply via our online form, we transfer your information to a lender with the most siutable offer upon your request. From now on you deal with the lender in question directly.
Do I need to renew a loan?
There are situations when a loan cannot be repaid in time. Most lenders allow renew their loan term in such cases; however, for additional fee. This option should be checked with the lender you plan to sign a contract with in advanceas as not all lenders practice it (and not all states allow such practices). Visit our Rates and Fees page to get more information.
What happens in case of late payment/failure to repay?
All the default payment terms and particulars should be explained in your loan agreement. They are different with every loan provider and your lender must disclose this information prior to loan agreement signature. All the lenders we work with use responsible lending practices and are reliable loan providers with extensive experience. However, we urge all the borrowers to request the information about delinuent payments (as well as any other loan information) from a lender during the first contact.
Is there a limit to a numebr of loans?
In accordance with most states’ laws a person can take one loan at a time. There should pass a so-called “cooling period” before the next loan is apllied and granted. However, the regulations differ with regards to a state you apply and a lender you deal with. It is strongly recommended to provide your ledner with the information about your present credit situation before the agreement is signed.