Borrowing money from a non-traditional lender is easier and faster than seeking a loan from a bank or credit union. Applications can be submitted and processed seven days a week, and approval percentages are much higher than banks. The money can be deposited into a bank account as soon as one business day after approval.
Those belonging to a credit union may have an alternative option to a high-interest installment loan. During business days, a credit union member may be able to get a small personal loan quickly at a much lower interest rate. Members will want to try that first.
Approval for Non-Traditional Loans
Due to high approval rates, most people assume if they apply for an installment loan they will be automatically approved. That is not the case...Read More