When you need an installment loan (stat!), you shouldn’t beat around the bush with just any lending company. Choosing the wrong lender could have terrible consequences—longer waiting times, more expensive loans, pestering lenders, frequent phone calls . . . As you search online for potential installment loans, be vigilant and take your time distinguishing between affiliates, who farm applicants’ information out to hundreds of potential lenders, and direct lending companies, who will process your application directly and provide you with a loan if you are approved. So why use a direct lender? Although we’ve already provided one basic (but essential) reason, let’s dig a little deeper . . .
Why Use a Direct Lender?
Direct lenders will not farm out your information. This is the primary difference between direct lenders and affiliates, as we mentioned above. An affiliate acts as a middleman, connecting the person seeking funds with lenders willing to provide those funds. When you apply to a direct lender, on the other hand, only one lender will receive your application and you will work directly with that lender. This may not seem like a significant distinction until you consider what happens when many earnest lenders have your contact information . . .
Hundreds of lenders won’t be fighting for your loan. Unless, against all odds, you actually love telemarketers and junk mail, you should never use an affiliate. Your phone will be ringing off the hook and your mailbox will be filled with advertisements as prospective lenders vie to earn your business.
You will be able to speak directly with the lender. Working with a direct lender for an installment loan will be a hassle-free process. You will submit your application (no credit check necessary), and the direct lender will either approve or deny your request based on the information you provide. There should be no frustrating phone calls from lenders, no long waits, and no hoops to jump through.
The loan will likely be more affordable. When you use a middleman like an affiliate, the price tends to go up so that the middleman can receive a cut of the profits. To ensure that you’re getting the best price possible, stick with direct lenders and compare several possible lending companies.
You may be able to receive the funds instantly. When you work directly with your lender, there shouldn’t be a great delay between your application’s approval and the delivery of the funds. To ensure that the process will be speedily completed, look for lenders offering instant payday loans. The funds will be sent to your bank account immediately after you’re approved.
So why use a direct lender? Not only will you bypass the hassle of dealing with loads of eager lenders, but your loan will also arrive faster and cost less. Although you may need to search a bit harder to find a truly direct lender (most affiliates will not be advertised as affiliates), it will be worth it in the end. Speaking of which . . .
When you’re ready to apply for an installment loan, check out Advance Paycheck Online. We are a direct lending company offering short-term advances and online installment loans to the residents of three states: Illinois, Utah and Wisconsin. Our flexible payment schedules will help you pay off your loan as soon as possible, and we prorate the fees involved so that if you pay off the loan early, you will have very few fees to pay. To get started, please contact us online or give us a call at 1-815-436-4242. We would be happy to help!