Using a direct lender for pay day
loans has certain advantages, but it is sometimes not easy to tell which
companies are direct lenders and which are brokers. The main reason for using a
direct lender for pay day loans is that you are going straight to the people
who make the decisions and issue the cash, so the process tends to be faster.
With a broker, there is the argument that they will run your application past
lots of different lenders at once, thereby increasing your acceptance rate, but
the downside of this is that it is likely to be a longer process.
When you use a direct lender you can
begin to establish a relationship, which can develop to your advantage over
time. It is not unusual for direct lenders to allow you to borrow more money
when you have used them before. Sometimes the amount you can borrow increases
in increments over a period of time, until you reach the maximum limit when
your track record establishes you as fully trustworthy and reliable.
Speed is often of the essence with
pay day loans, and this is when direct lenders come into their own. Because
they are a single operation with no third parties to consult with, they can
streamline and automate their online services to provide incredibly fast
services. The best direct lenders can have cash in your bank account just an
hour or so after you fill in the online application form.
People who apply for pay day loans
are often in need to money because of some unexpected emergency, and the time
it takes to get the cash is a very important factor. Some pay day lenders are
definitely quicker than others, so choosing the faster ones is an important
starting point. However, there are also other things you can do to help ensure
the process is as fast as possible.
