Finding the Best Online Lenders
Directing you to the Best Online Lenders
It used to be that getting a loan meant meeting face to face with a bank loan manager while he silently (or verbally) judged your finances, your needs, and your current situation. As time went on and options expanded, payday lenders began to spring up by the dozens, but even though these folks seemed more understanding about the need for ready cash, you still had to face an individual—someone you might meet again at a ball game or in the grocery store.
Then came new technology which allowed for borrowers to apply for loans online, in the privacy of their own home. This method benefits borrowers because of the convenience and privacy it affords, because they have more options to choose from, and because they can get a rapid response. Lenders benefit by reaching a larger client base, being able to check some elements of the application online, and being about to accept payments electronically as well.
In order to determine the best online lenders, here are some guidelines to follow:
The best online lenders offer simple, secure online applications
These applications are usually very short and only require information that should be readily available to you as the applicant.
The best online lenders have simple requirements
As long as you are at least 18 years old, have a steady job making at least $1000 a month, and have a bank account where your paycheck is deposited automatically, you should be able to qualify for the best online loans. Some will even work with you on the bank account issue, but this usually limits your options with lenders. Keep in mind that requirements vary from state to state and depending on the amount of cash you need, so this may determine the information you are required to give.
The best online lenders offer faxless service
You should not have to fax any in extra information, except in rare cases such as when state laws require additional documentation that is not available online.
The best online lenders are available 24/7
Most good online lending websites are available 24/7 so you can apply when it is convenient to you. Keep in mind however, that the service may depend on the availability of the lenders at that time, so you will have more loan options during business hours.
The best online lenders have a high acceptance rate
Look for lenders that have a high acceptance rate and don’t use traditional credit scores that may limit your options.
The best online lenders offer speedy response times
A good site should be able to offer you a response to your loan within a couple of minutes.
The best online lenders carefully explain all the terms of your loan
The best sites provide clear information so that you can make an informed decision. Be careful to read all websites and loan documents carefully before committing to a loan. Reputable sites should not charge you if you decide to not accept the loan after you read the specific fees and terms involved.
The best online lenders remind of the downside
If you are looking for an online loan, you are likely in crisis mode due to some emergency or unexpected expense. Remember that these types of loans, while convenient, often come with a high price tag attached.
The best online lenders offer ways to get your cash to you –fast!
If you have a bank account, most good online lenders should be able to get your money deposited into your account by the next business day. Some offer 1 hour service!
The best online lenders have contact information available
Check out the website to make sure they have an email, telephone number or physical address where they can be contacted if you have a problem.
Now that you are armed with information, here are some sites that you may want to check out that meet the above qualifications. However, there are tons of options out there and the field is constantly changing, so keep these rules in mind as you search for the best online lender for your situation:
Some of the Best Online Lender sites we could possibly recommended:
These lenders are the best of the best
123 Loan Advance
Green Leaf Loan Group
National Cash Credit
Quick Cash To Go
First Liberty Loans
Income Tax Advances
Speedy Payday Cash
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