Would-Be Borrowers Can Find Out How Loan Process Works
Los Angeles, CA -- (SBWIRE) -- 10/17/2012 -- Direct Deposit Loan announces the release of a brand-new article called “Requirements.” This piece is part of a series of educational articles featured on the company’s website. The main goal of the article is to help consumers understand the minimal requirements they must meet to qualify for a cash advance, as well as how the entire loan process works. Readers can also use the resource to learn details about the simple application involved in obtaining a loan.
“Potential borrowers often worry that acquiring a cash advance will be complicated or confusing, but thankfully, the truth is that nothing could be simpler,” says company spokesperson Sam Kelley. “In fact, the application process consists of just a few steps. If a person meets the minimum eligibility requirements, which are very few in number, chances are they will be approved for the loan. And since there’s no fee to find out if you qualify, there’s nothing to lose by trying.”
Cash advances are generally available to anybody who is a citizen or permanent resident of the United States, at least 18 years of age, and earning a steady income of at least $1,000 per month after taxes. Applicants have to provide proof of identity as well as a valid email address and details of a bank account in their own name. Once it receives an applicant’s information, Direct Deposit Loan quickly evaluates the application and normally issues a decision right away. If the application is preapproved, the company then passes on that information to their network of skilled, reputable lenders.
Direct Deposit Loan does not offer loans directly, but instead allows lenders to connect with borrowers through their secure system. These lenders can then present loan offers to consumers based on their specific requests and according to established lending laws, which govern how much a person can borrow in a specific state and what kinds of loan fees and rates can be charged there.
Individuals can qualify for a cash advance regardless of their credit history and whether they would qualify for a loan through a bank or other traditional lending institution. Direct Deposit Loan does not require applicants to submit their credit score, so even people with poor or no credit history are able to move forward with an application.
Because online cash advance applications are processed immediately, there are no long waiting times for approval. Once an application is sent through, an answer is usually available within minutes. Consumers who need a loan to cover an unexpected expense can get funds in their bank account in as little as 24 hours. Additionally, there are never any delays to process paperwork, as everything is done over the Internet.
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