Keep Getting Denied For Loans? Why A Payday Loan Is Different
If you keep getting denied for loans and you’re getting frustrated, Fast Payday Loans, Inc. of Florida may be able to help. Our company offers payday loans to individuals in a wide range of different circumstances.
It can be disheartening to keep getting loan requests denied, but thankfully we offer a convenient option to get the fast cash you need. Keep reading to discover how you can get a quick payday loan — no matter your credit background or borrowing history.
How Does A Payday Loan Differ From Other Kinds Of Loans?
1. It’s Usually Paid Back Quickly
A payday loan is usually paid back much faster than a traditional loan — often when you receive your next paycheck. Personal loans may be paid back over two years, while a payday loan could be paid back in a few weeks or months.
Repayment schedules will vary, but this is one of the things that makes it easier to get a payday loan in most cases. Because of the short turnaround time and the smaller amounts involved, getting a payday loan isn’t usually challenging.
This is one of the reasons that people tend to choose them when they keep getting denied loans. You’re more likely to be able to get a payday loan because it’s a short-term borrowing method, and the lender gets their money back quickly.
2. You Don’t Need Great Credit
This is another significant reason why payday loans differ from other kinds of loans. If you keep getting denied loans, it’s very often for credit reasons. You don’t need an excellent credit rating to take out a payday loan, and you can get one if your credit rating is poor.
Most traditional loans depend upon your borrowing history to determine whether you are eligible for the loan or not. That makes getting approved for traditional loans hard if you have little history. You can also get this kind of loan if you don’t have much borrowing history.
However, payday loans are based on your paycheck, and therefore the kind of credit has no impact at all on your eligibility for the loan. At Fast Payday Loans, Inc. of Florida, we do not perform a credit check or analyze your credit score in the online payday loan process. This is great news for individuals who have been denied loans in the past because of their credit.
3. You Don’t Need Much Paperwork
If you keep getting denied for loans, it might be because you don’t have the proper paperwork. A lot of traditional loans require you to have extensive paperwork. They need tax returns, pay stubs, bank statements, employer contact information, and more.
Some also require collateral, verified and inspected, co-signers, and so on. This can make it very difficult to get a traditional loan. However, a payday loan doesn’t require as much paperwork, and we’ve done our best to minimize the required documentation we ask for to offer a loan. Our payday loans require just three types of paperwork:
- A check from an active checking account in your name
- The most recent pay stub you received
- A driver’s license or state-issued photo ID
That means getting approved for a loan through us is much easier if you don’t have piles of documentation. You need to bring those three things into one of our stores, and we can help you with the application process.
How Can You Get A Payday Loan?
If you keep getting denied loans and want to apply for a payday loan now, it’s straightforward. Firstly, check you have the above paperwork to ensure you’re eligible for this kind of borrowing. Next, follow the steps below!
- Fill in our online form to pass on your basic details, including a valid phone number we can reach you on.
- Wait for our friendly loan representative to call you on the number submitted.
- Talk to the agent about the loan process and ask any questions. You can then complete the process on the phone by verifying your documents or coming into the store and doing it there if you prefer.
- Once everything is completed, you can get the money soon. This will be done within two working days, sometimes as quickly as the same day you apply.
Apply For Payday Loans Now
If you keep getting denied for loans, contact Fast Payday Loans, Inc. of Florida today. We offer loans to people in various situations. Even if you have poor or no credit, you can benefit from our payday loans.
It can be frustrating to keep applying for loans and getting turned down, especially if the application process is lengthy. We have simplified things as much as possible and aim to offer loans to people in all circumstances. Fill out our online inquiry form to get started today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.