If you asked everyone you know, you’d be hard pressed to find someone who hasn’t taken out a loan at least once in their life. Whether it’s a student loan they still haven’t paid back, several credit cards in their wallet, or a personal loan taken out to cover an emergency, everyone has relied on financial assistance at some point in their lives. It’s one of the only ways people can go to school, buy a house, or cover surprise expenses. Borrowing money is inevitable.
But why a direct lender? These companies offer 2 major benefits:
- Convenience: As a one-stop shop, they facilitate everything from your initial application to the final repayment of your loan and everything in between. You don’t have to speak with multiple reps from different companies, and you don’t have to make payments to an organization you didn’t apply with initially. All you need is their homepage URL, and you’ll be able to navigate through each step of your borrowing experience.
- Speed: Because they aren’t communicating with multiple companies, a direct lender can process your application and the release of your advance faster than traditional lenders. These products don’t waste any time, which can be helpful in the face of an emergency — whether it’s bills, repairs, or a necessary household purchase.
Before you secure a short term loan, make sure to ask friends and family for any recommendations. If they’ve recently applied for an advance themselves they can let you know which companies to contact and which companies you should avoid. If they haven’t, you can always turn to a reliable review website like Trust Pilot. This third-party organization hosts customer reviews on a variety of retailers and services, including direct lenders like MoneyKey, so you can get an insider’s view of the way they do business. It’s an incredibly easy site to navigate, and with only a few clicks of your mouse you can compare MoneyKey reviews with reviews left on other lenders’ pages to see which one has the best overall rating.
You should also confirm the lender you choose has the appropriate license to provide loans within your state. And if you secure your small dollar loan online, you’d do well to ensure the lender follows appropriate security protocol to protect the personal information your provide on their applications.
So your future may be peppered with moments when borrowing is a necessity. That’s okay! As long as you contact a state licensed lender that offers fast, convenient, and simple loans that fit your needs then borrowing money can be one of the smartest financial decisions you make. Take the time to research and find an advance with rates, terms, and conditions you can handle.