Are You A Direct Lender For An Online Cash Advance?
It's always better to deal with a direct lender, including an online cash advance direct lender. The trouble is many financial institutions aren't direct lenders anymore. Banks or other lenders often are only the servicer of the loan and the lender is someone else. This is called intermediary lending.
That is a bit deceptive when it comes to loans. People want to know who they are dealing with and, more importantly, who they can talk to throughout the cycle of their loan if something needs to be changed. When it comes to payday loans, people need an online cash advance direct lender.
What Is A Direct Lender?
Direct lenders, also called non-bank creditors, are those who have money to make loans. They make loans without using a bank or other intermediary.
An example of how large corporations use direct lending is when a person or private business buys an investment firm's securities. Securities are sold when a company, or a series of companies, need capital for expansion or operations so they act as a type of loan. The private company or person is a direct lender.
The securities are a type of bet that the companies' investment will pay off later as they will become more valuable. When an underwriter buys securities from a direct lender, that person becomes an indirect lender.
An example that most people can identify with that demonstrates direct lending versus indirect lending involves car buying. A person goes to their credit union and takes out a loan for a car. That's direct lending as the credit union supplies the money.
A person goes to a car dealer and seeks financing. The dealership calls up a credit union or some other lender to get you financed. That's indirect lending as the dealership is the intermediary.
An online cash advance direct lender is a private company that makes payday loans with its own money with at least part of the process done online.
Benefits Of Direct Lenders
Using a direct lender for any type of loan, including an online cash advance direct lender, is always better and cheaper. Intermediaries are going to throw their cost and profit into the mix and pass that on to you. A direct lender has fewer fees and will be more competitive on overall costs.
You know you are working with a direct lender when the loan paperwork states they are the lender. You can always ask too.
Direct Lenders In Utah
One online cash advance direct lender is Utah Title Loans, Inc. They handle loans for clients in the state of Utah. Their payday loans, also called cash advances, are between $100 and $500. The amount you can borrow and are approved for depends on your paycheck.
Those applying for a payday loan from Utah Title Loans, Inc. only need three things to qualify. These include a picture identification to prove your identity, like a state-issued ID or a driver's license, your most recent pay stub, and a blank check from a valid and active checking account with who you are the primary holder.
Applying For A Cash Advance
While you will need to go into the loan store to complete the loan request process, those seeking an online cash advance can start by filling out an inquiry form on Idaho Title Loans, Inc. website. It's a basic form that provides a loan representative with an idea of what you are looking for in a payday loan.
A representative will call you to explain the process to you and help you find a local store.
Once arrive at the store with your simple requirements, a loan representative will verify your documents and help you complete the payday loan process. The paperwork and a decision could be made in as little as a half hour and those who are approved can get their money either the same day or the following business day.
An advantage to using a private direct lender like Utah Title Loans, Inc. is that those with bad credit can still apply. Loan approval is based on employment and earnings rather than credit. Your credit is your job.
Also, your loan is not reported to the credit bureau. You can speak with a loan representative directly to address any concerns or ask any questions. A huge plus of using a direct lender like Utah Title Loans, Inc. is that decisions are made quickly and money is given to those who are approved fast.
Ask For More Info
Those who have crucial emergencies, such as getting a car repaired, will fare better talking to an online cash advance direct lender over an indirect lender. You will get upfront answers with Utah Title Loans, Inc. and a fast, stress-free process.
Using a direct lender for a cash advance is simple and the forms are easy to fill out. You can get started now by filling out the inquiry form online and speaking with a representative to see if a payday loan with a direct lender is right for your needs.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.