Emergency Payday Loans when you Need Cash Immediately!

Emergency Payday Loans from Direct Loan Lenders

An emergency financial situation can cause a lot of hassle, and a borrower may not know whom to approach. Traditional lenders take time to fund applicants due to their lengthy approval procedures. Since their approval procedures involve credit checks and collateral, they end up being time-consuming. During an emergency, that’s the last thing that a borrower wishes to go through. The concept of payday loans came into existence for the very same reason, and emergency payday loans offered by direct lenders can be highly beneficial to those who need cash urgently

These loans come with very simple eligibility terms, which is why they do not take too long to process and approve.

That’s why when in need, a lot of borrowers choose to apply for emergency payday loans.

Emergency Cash Immediately Bad Credit Direct Lender

On the other hand, direct loan lenders like PaydayLoanTeller welcome those with bad credit scores too. The reason why we do so is that we do not believe in relying on your previous timely repayment incapability and instead choose to give you a chance to prove yourself.  Our simple eligibility terms which avoid credit checks make sure to give majority borrowers a chance to get funded.

Emergency Payday Loans come with No Credit Checks

When applying for a loan with a traditional lender, you will undoubtedly have to face a hard credit check. This may reduce your credit rating by around 5 points, making it difficult for you to get funded elsewhere. However, the emergency cash that we offer immediately even for bad credit, being considerate direct lenders avoids hard credit checks. Not only does this give bad credit borrowers a chance to get funded, but it also doesn’t reduce credit scores. This holds true for those borrowers who have no credit history as well, and have been finding it difficult to get funded by traditional lenders.

Have Bad Credit? Improve Your Credit Score with an Emergency Payday Loan

If you have bad credit and are looking for an opportunity to improve your credit rating, an emergency payday loan can help. Firstly, since we do not conduct hard credit checks, there is no chance for your credit score to see a reduction.

Secondly, the repayment terms of these loans require you to pay them back in lump sum on your next immediate pay date. A pay date that’s so close helps you improve your credit rating quickly as compared to a loan that you have to repay over time. However, that’s as long as you repay your loan (with interest) on time.

What do we depend on to Provide Loans for Bad Credit?

While traditional lenders rely on credit scores to approve or deny funding to a borrower, we depend on other simple terms. One major factor that we as direct lenders rely on is for our borrowers to have a stable income. A stable income shall prove the borrower’s ability to repay his/ her loan. This factor helps bad credit scores holders start afresh. We depend on our borrowers’ present instead of depending on their past. However, how much a borrower can receive from us shall most certainly depend on how much he earns in a month. We do not offer anything more than what you earn on a monthly basis. We say so because payday loans are supposed to be repaid in lump sum on your next monthly payment date.

Let’s take a look at the eligibility terms required to approve funding:

• As mentioned earlier, borrowers have to have stable monthly incomes
• Borrowers must have a Social Security Number
• They must have a checking account
• We shall need your verifiable contact details which we shall cross-verify
• You must be at least 18 years old to avail a loan from us

Why Apply for Emergency Payday Loans Online?

Emergency situations require immediate assistance, and the need to travel all the way to a store will only delay things. Having to go to a store to apply for a loan involves a lot of time-consuming processes. First, a borrower will need to look for a store near his place. Then, he will have to travel all the way to the store. The next thing that will be required will be for the borrower to wait in a queue after which the paperwork process is never ending.

Instead of going through all the hassle, why not just apply for a loan online? You can get to avoid every disadvantage that comes with store-based payday loans that we just mentioned. With online loans, neither do you have to travel, nor do you have to wait in line and you don’t have to go through paperwork either. All you need to have is a smartphone or a laptop/ desktop with a decent internet connection. The only things required to be done would be for you to visit our application page and fill out the very basic form given. After that, all you have to do is attach soft copies of the very basic documents that we require and submit your application. Once received, your application shall be processed by us almost immediately. If approved, we shall transfer funds right then which shall reach you either instantly or within 24 hours, depending upon the policies of your bank.

Store-Based vs. Online Emergency Payday Loans

In order to help you understand the difference better, we have provided the information to you in the form of a table:

Emergency Payday Loans for Bad Credit from PaydayLoanTeller are Unsecured

Applying with a traditional lender for a short-term loan may require you to provide collateral. If you have bad credit, the chances of you having to offer collateral maybe even higher. Collateral reduces the risk of not being repaid, which is why traditional lenders make it mandatory for some borrowers.

However, when you’re in desperate need of funds, having to go through the entire collateral process can be time taking. Nobody wants to have to wait for days before even knowing whether their application has been approved or not. This especially applies to those who need money fast. Also, not everyone may have collateral to offer to a lender.

That’s why, at PaydayLoanTeller, we do not require our borrowers to provide collateral. We understand the need for quick money which is why we avoid time-consuming procedures in general. Even if you have a bad credit score or no credit history, you can apply with us without providing security.