At Personal Money Network we are aware that borrowers often look for quick cash to solve short term financial needs. This is why our company was founded, to provide options to as many borrowers as possible.
How fast can I get a loan?
The time it takes to receive an approval and get the funds deposited varies by lender. However, that does not mean that you cannot get quick cash. There are some steps you can take to ensure that you speed up the process. Begin by requesting a loan on a business day, during business hours. Because our process is online, it’s possible for you to request a loan anywhere you like using your smart phone, tablet or computer. There’s no need to rush out into bad weather to find a store front location or get a ride some place at a time that is inconvenient for your schedule.
What’s a “cash loan”?
A “cash loan” is sometimes referred to as a cash advance, or a payday loan or even a short-term loan. These types of loans are designed to be repaid on or before your next paycheck. Often, consumers who are looking for cash fast seek out these types of loans because of their convenience and short-term repayment options. They can be used for many purposes, including debt consolidation or even just taking care of a small home repair. These types of loans are often more accessible to bad credit borrowers because of the small dollar amount and shorter repayment terms. One downside is that interest rates are higher, which is why it is important for borrowers to be sure that they can repay the entire loan amount within the term before signing any type of agreement to borrow cash loans.
How do I apply for a quick cash loan?
Applying is easy. Simply complete our online form. The form takes just a few minutes to complete. Make sure that all of the information you provide is accurate and correctly spelled and that all of the boxes are completely filled in before you submit the form. This will eliminate any slowdowns in the approval process that might require a customer service representative to contact you to verify your information before your request can be processed. Once you have completed the form and your request has been submitted, you simply wait for a decisions. Should you receive an approval, you will be sent a copy of your contract for review. Be sure that you read the entire contract. Pay attention to the fine print and make sure that you understand your repayment schedule, the term of your loan agreement and your interest rate information before you sign. Ask your lender any questions you may have directly before agreeing to the terms of your contract. Once you have signed, if you provided a banking account number that was in good standing, many of our lenders can deposit the funds directly into that account as soon as the next business day. Yes, it can be that fast.
How do I get approved?
There is no such thing as “guaranteed approval” however, there are some steps you can take to improve your chances. At Personal Money Network, we take some of those steps out for you. We submit your request to multiple lenders, increasing your chances of receiving a decision, versus requesting a loan with one lender or with a traditional bank. Also, because our lenders work in dollar amounts of less than $1,000, they are more flexible in the types of borrowers they will lend money to. This could increase your chances of receiving a decision, even if you have bad credit. Also, be sure that you are borrowing the money for a good reason. If you are considering using the funds to make a purchase of a luxury item, like a television or laptop, now might not be the time to consider requesting a loan. Think about what you are doing carefully before making any type of loan request with any company.
How much can I borrow?
The lenders working with Personal Money Network primarily work in amounts less than $1,000. If you need to borrow more than that, look into installment loans or speak to your lender about other lending products they may offer. It’s possible that they have a lending product that is more suitable for your particular situation that might allow you to borrow a larger amount or even repay that amount over a longer period of time. The actual amount you will be able to borrow will depend upon a number of factors, including the result of your “soft” credit check and your current income versus your outgoing monthly expenses. This may also vary by lender, so be sure to read the contract for these details.
What if I need it for an emergency?
Your dishwasher broke. Your car broke down and needs a repair in order for you to be able to get to work next week, but you just paid your bills for the month and are tight on cash until payday. Maybe, you just need a little cash to pay a bill on time because you got behind and are trying to avoid late fees. The reason you need the money is not important. Many of the lenders working with Personal Money Network do not require that you provide a reason when requesting quick cash loans. You can choose where to direct the funds once they have been provided.
No Credit Check? What about Guaranteed Approval?
Some companies claim to offer “no credit check loans” or “quick cash loans, guaranteed approval.” At Personal Money Network, we think that consumers should know that these claims are not exactly honest. Every lender performs some type of credit check. Even if all they do is verify your employment history and income, that is also a type of credit check. This type of check is less invasive and many of the lenders working with Personal Money Network perform such checks. This means that the odds of receiving a decisions are higher for bad credit borrowers because the focus is on the borrower’s current ability to repay the loan and not on the past. “Guaranteed approval” is another claim that is commonly made by payday lenders. The idea is that if they promise these things, borrowers will request loans through them and not with another company, even if they cannot follow through on this promise. There is no such thing as “guaranteed approval” but there are options for increasing your chances of receiving a decision and Personal Money Network takes care of some of these for you.