What are the Advantages to Working With a Direct Lender?

With all sorts of lenders available, it may be tricky to figure out who to borrow from. Imagine finding a lender, taking out a loan, and then before you know it, they’ve sold your loan to another lending company. This happens all too often with mortgage companies especially.

Wouldn’t it be great to work with one company throughout the entire life of your loan? That’s what you can expect when working with a direct lender as long as your loan stays in good standing.

A direct lender is responsible for managing each and every step of your loan process. Direct lenders handle everything from processing your application to funding your loan to receiving your repayment and everything in between. While taking care of all this, direct lenders like Check Into Cash also work hard to protect the security of your financial and personal information.

You’ll typically work hand-in-hand with a direct lender throughout the entire life of your loan. This is just one advantage to working with direct lenders.

5 Advantages to Using a Direct Lender

1. Direct Lenders Own the Funds They’re Lending

By definition, funds loaned by direct lenders come directly from them. There is no third party, and direct lenders are not acting as middlemen for loans. Rather, they own every dollar they’re lending.

Because of this, direct lenders like Check Into Cash have full lending terms spelled out obviously and clearly. This allows individuals to better understand exactly how much money they can access as well as any related fees.

2. Direct Lenders Can Be Quicker to Work With

When speed matters, you don’t want to have to deal with multiple companies just to access emergency funds. That’s one reason why direct lenders are a great choice. Dealing with a direct lender can make way for instant approvals, reducing the time and energy when it matters most.

3. Communication Is More Centralized with Direct Lenders

Another direct lender advantage is that you don’t get passed from company to company. Rather, you deal with the same company throughout every aspect of your loan process. From start to finish, as long as you’re in good standing, you’ll only have to deal with one loan company.

4. Your Information Stays with Your Direct Lender

Additionally, Check Into Cash handles your personal and financial information with great care. We pride ourselves on confidentiality and keeping your information secure. Instead of being passed around from company to company, working with a single direct lender can lead to less sharing of your personal information.

5. Sometimes Approvals May Be Easier with a Direct Lender

Direct lenders like Check Into Cash have the power to make funding decisions quickly. The end result is that the direct lender controls its own lending criteria, allowing greater control over which customers get the funds they’re seeking.

The Direct Lending Process Explained

Want to learn more about the process of working with a direct lender? It’s short and simple, and with an instant approval process, you’ll immediately find out how much credit you can access.

When seeking a small loan from a direct lender like Check Into Cash, here are the steps you should expect:

1. Begin with a quick pre-qualification questionnaire to learn how much you may be eligible to receive
2. Complete the full application for your loan
3. Indicate how much credit you need from your loan
4. Once approved, agree to the terms and sign or e-sign for your loan
5. If online, funds are deposited into your personal bank account usually by the next business day
6. If in stores, walk away with cash on the spot
7. Then, simply repay your small loan on your agreed-upon due dates

How much can I borrow from direct lenders?

Depending on your state, each type of loan offers a different amount of cash. For a Payday Loan, for example, you can get as little as $50 and as much as $1,500. The amount you receive is based on many lending factors.

Do I need excellent credit to work with a direct lender?

No, your credit doesn’t need to be perfect to apply. In fact, people turn to direct lenders for short-term loans with less-than-perfect credit every day.