When a financial emergency strikes it often leaves individuals overwhelmed, and those with poor credit often fell hopeless as obtaining the money they need may seem impossible. Traditional bank lending is often complicated to get, but a company that offers payday loans makes it easy for individuals of nearly any walk of life to get the money they need without stringent credit requirements. Here is a quick look at what is involved when obtaining a payday loan, and how it has become a go-to solution for individuals facing unexpected expenses.
Complete An Application
The first step is to complete an application, and most payday loan companies have made it even easier by providing applicants with an online portal where all information may be entered. Once the application is complete, be sure to submit it so that the lender’s underwriting company may begin processing it. Most companies approve applications in as little as 2 hours.
After a loan has been processed, the applicant should expect to receive a phone call from the company’s underwriting department. An associate will need to verify the information on the application, which may include checking the social security number used and any wage information that may have been entered in the application. Be sure to have copies of any pay stubs and any checking accounts readily available, as these may be requested before approval of the loan.
Most consumers need access to the proceeds of a loan as quickly as possible, and a payday loan makes that happen. After providing checking account routing information and obtaining approval, most loans are funded in a few short hours. While the total funding time varies depending on the direct deposit policies of the banking institution, all loans are paid out in under 48 hours.
Gaining access to the money a family needs during a financial crisis shouldn’t be complicated. The team at Blue Trust Loans works with consumers of nearly any background to help them get the cash they need promptly. Check out their website to learn more and apply online today to take the first step in getting the financial help required.