There are times when waiting for your bank to approve a loan means you have to do without something important. In addition, if you have weak or poor credit, the possibility of getting a loan approved quickly can be near impossible. This is one of the reasons why many private lenders are making fast loans available, there is a market for them and there are more people than ever who need fast loans.
What Can Fast Loans be used for?
Lenders typically do not ask you why you are asking for a loan. While some may ask you to say why you need a loan, in many cases, they are only interested in how you intend to repay the loan. Be certain if a lender does ask you that you are honest about why you need a fast loan. Keep in mind that you should always be honest in your loan applications, and when you fill out our quick application at Worthy Loans, a variety of lenders will be able to make you an offer.
What about My Credit?
One of the best things about private lenders is they often are willing to take more risks than banks. Most lenders who offer short-term loans and loans to borrowers with less than perfect credit charge higher interest rates and are more strict about their terms. In fact, if you accept a fast cash loan, you typically have less than 30 days to repay the loan and may face a steep penalty fee for late payment.
What about Interest Rates?
Worthy Loans is not a direct lender, instead, we match your loan application to a wide variety of criteria offered by our lenders. Each lender sets their own interest rates based on a number of criteria including the amount of the loan, the amount of risk they are accepting and the term of the loan. Remember, you are under no obligation to accept any offer when you feel the interest rate is too high. Even fast loans have multiple lenders available.
What Documents do I Have to Provide?
In all cases, any lender who is offering fast loans are going to ask for proof of income. This means you must submit a pay stub, proof of unemployment checks or proof of retirement or social security income. Just because you are not working doesn't mean you will automatically be disqualified. Our lenders understand that even those who are retired or unemployed may still have immediate financial needs.
If you are considering a loan, you may need to consider fast loans. When this occurs, Worthy Loans can help you find a lender who is willing to loan you money regardless of your credit. You provide proof of your ability to repay a loan in short period of time and we'll help you find a lender willing to provide fast loans.