Can I Get Pre-Approved For A Payday Loan With A Direct Lender?

Are you wondering if it’s possible to get pre-approved for a payday loan? While it’s always great to know if you’re eligible for a loan, it helps if it’s from a direct lender that can offer cash that same day. Pre-approval is a common term we see in other financial fields; take the mortgage industry, for example. You will see less paperwork with lending options like a cash advance or car title loan. Compare this to someone who may be looking to drop their mortgage rate by a few points.

Payday advances are often for people who don’t have many options for getting pre-approved payday loans. You need to understand that all of the largest lending companies know this. These online lenders will buy data and records that tell them who is pre-approved for various direct lender advances. For example, you can be pre-approved for an online payday loan within 15 minutes. However, most companies need banking information to approve a direct loan online.

Pre approval for online payday loans is available but not necessary!

As mentioned above, there’s not much to compare when you look at the best online payday loan direct lenders. Most are different when you look at other financing methods. This customer may also have had trouble in the past with other bills or even past payday advance obligations. Unlike a mortgage loan or online installment loan, you don’t need a stellar credit report. Even a poor payment history won’t result in an instant denial for a bad credit direct payday loan.

Pre approved payday loans in 15 minutes or less

You can get a pre-approval on an installment loan in certain situations. Do you have a steady job with direct deposit and good references? You will have a much better chance of 15-minute approval for a loan from direct lenders. Also, if you can give decent references when first applying for a loan, you should move further in the online funding process. This is important to remember. Direct payday lenders will often issue funds without checking your credit history. Do you intend to apply for a cash advance or online installment loan in person? You’re in a situation where the lender doesn’t know you and hasn’t met you. That dynamic can change, though, if you submit a list of quality references when you apply online. You may think the lender won’t care about your references, but this is an important part of the application process. It’s the only chance that a lender can find out within 15 minutes if you’re a real person

Reasons to Pre-Qualify for a direct lender payday loan

The reasons why you should get pre-approved for a payday loan are straightforward. First, knowing you’ve met the qualification requirements for a payday loan is huge when other short-term lenders may take days or weeks to underwrite your application. Once pre-approved, you can move on to more important decisions like how much money you want to borrow and how long you want to repay the loan. Another benefit is taking your quote to another lender and comparing interest rates based on your pre-approval. Once a lender knows you’re ready to move forward with another company, they may be more willing to offer a reduced interest rate or better payoff term. The bottom line is that pre-approval for a payday loan can only help you make the best decision on moving forward with a specific lender.

Get pre-qualified with a direct lender and receive a funding notification in less than an hour. Apply with Direct Payday Lenders USA to learn what to expect when dealing with a lengthy online loan application process. This should speed up the loan process, and you’ll have more time to decide on your lending terms. Call us at 888-800-3841 to start your payday loan pre-approval process today!