Potential Loan Borrowers Can Use Material to Get Educated About Cash Advances
Los Angeles, CA -- (SBWIRE) -- 10/23/2012 -- Visitors to the Payday Central website can now find a newly released educational article there. This article, entitled “How It Works,” covers the simple and brief process involved in applying for cash advances. The piece also discusses the basic requirements that consumers must meet in order to be considered eligible for loan assistance, the fact that no credit score is required of prospective borrowers, and how individuals’ personal information is kept safe and secure during the online processing of their loan.
“We want to make sure consumers understand how easy it is to qualify for a cash advance,” says Payday Central spokesperson Nathan Boyer. “Not only are the requirements for borrowers simple to meet and few in number, but poor credit or even lack of any credit at all is not a barrier to getting assistance. The loans that our affiliated lenders issue are based solely on a borrower's monthly income, and they are disbursed without hassle or delay once consumers have been preapproved for help and subsequently accepted an offer.”
Payday Central specializes in helping people with poor credit history acquire quick, hassle-free payday loans. Because the company does not require credit scores, people who would not normally qualify for a loan from a traditional lender often are able to borrow money through Payday Central. Individuals should keep in mind that the company is not an actual lender but instead acts as a bridge between lenders and borrowers.
In its role as bridge, Payday Central handles the early part of the loan process, including the application stage. Once all of a consumer’s required information is presented, the company evaluates the application and decides whether the person qualifies for a loan. If the answer is positive, they will then allow lenders to make offers directly to the individual. Because each lender has slightly different loan interest rates, terms and fees, consumers are advised to carefully go through every offer they get to find the one best suited to their needs.
In order to qualify for a cash advance, consumers have to show proof of age, as loans cannot be extended to people under 18 years of age. Proof of citizenship or permanent residence in the United States is also required. Finally, borrowers must earn a minimum of $1,000 a month after taxes, and they must have a valid email address and valid home and work phone numbers. Anybody who satisfies these minimum requirements normally has no problem being approved for a loan.
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