Do Direct Lenders Offer Online Cash Advances?

iQuanti: Direct lenders offer online cash advances that can get you fast funding. Working with a direct lender means you'll only have to use one company to obtain the loan, and you may enjoy a quick application process, instant approval, and lenient credit score requirements. Let's dive deeper into how online cash advances from direct lenders work and the pros and cons.

What is a cash advance direct lender?

A cash advance direct lender is a lender that is in charge of the loan application, funding, and repayment processes. Your information won't be provided to multiple lenders for review - you'll be dealing directly with the lender. Direct lenders typically offer easy applications and instant approval decisions. If you get approved for a cash advance with a direct lender, you may be able to receive the funds in your bank account the same day you apply.

How online cash advances from direct lenders work

Cash advances can give you quick funds to cover expenses before your next payday. You can apply for an online cash advance directly through the lender's website or in person, if they have store locations. After you receive the funds, you'll repay the loan in two to four weeks, depending on when you get your next paycheck.

Pros and cons of getting online cash advances from direct lenders

The two primary benefits of getting online cash advances from direct lenders are that you can get cash right away and don't need a good credit score to get approved. Many cash advance direct lenders will consider factors in addition to your credit score, like your income, employment history, and current debts. This means that borrowers with poor or fair credit can still get approved. Cash advances from direct lenders also come with easy online applications that you can complete from the comfort of your home. 

One downside of cash advances is that they can come with high interest rates. You'll have to pay more in interest and fees if you can't pay off this loan on time. Keep that in mind when you apply and make sure you have a repayment plan in place. 

How to apply for a cash advance with a direct lender

Applying for an online cash advance from a direct lender is simple. Go to the lender's website and fill out the loan application. They'll ask for information like your name, address, contact information, employer's name, and your routing and account number. 

Before submitting a loan application, make sure you've read and understand the loan terms. Then, submit the application and wait for approval. You may get a decision in just a few minutes.

The bottom line

Online cash advances from direct lenders are quick and easy loans to get approved for. You don't need a great credit score, can fill out the application from the comfort of home, and could be approved instantly. In many cases, the funds can be in your bank account either on the same day or by the next day. 

Notice: Information provided in this article is for information purposes only. Consult your financial advisor about your financial circumstances.

Source: iQuanti, Inc.