Instant Cash Loans Direct Lenders Only

What Are Instant Cash Loans?

Definitely, the best thing about instant cash loans is that they can be approved in a short amount of time. This is because you don’t need to provide any collateral. All you need to do is to fill out a simple online application form and wait for your cash advance to be approved. The fund is usually transferred electronically within 24 hours.

Direct Lenders vs. Loan Brokers: What’s the Difference?

A direct lender is a financial institution that directly offers loans to borrowers. Simply put, a direct lender is like a bank that gives loans to people without going through a third-party. It is important to note that not all direct lenders are trustworthy. You should only choose a direct lender that has a good reputation. 

Meanwhile, a loan broker is an intermediary who connects lenders with borrowers. They also charge a fee for their services. A loan broker will usually take a commission for each loan that they facilitate, which makes them more expensive than direct lenders. 

3 Things to Look Out For When Dealing With a Direct Lender

As you might have figured, not all cash loans from direct lenders are the same, so it is critical to do your research before signing any loan agreement. Here are 3 things that you should look out for when dealing with a direct lender:

Application Process

Always ask questions and visit the lender’s website to learn more about the application process. If the direct lender you are currently working with has too many protocols and requirements, you should cancel that application and move on to a different lender. Do this because getting an instant cash loan is one of the easiest and fastest ways to get money, and you don’t want to waste your time with unnecessary procedures.

Credit Checks

If you have a less than stellar credit, know that you can still get the quick cash you need without having to worry about your credit score. Don’t let your bad credit score hinder you from getting an instant cash loan. Just don’t put yourself in a bad situation by getting into a debt that you can’t afford to pay back.

Borrowing Costs

As a borrower, no matter how urgent you need the cash, always ensure to know what the cost of payback will be. Check out the lender’s APR and loan terms to ensure that you are getting a fair deal. Bear in mind that there are a lot of predatory lenders out there that charge ridiculous fees and interest rates for cash loans. Finally, never get pressured into signing a loan agreement that you are not comfortable with.

Advantages of Instant Cash Loans With Direct Lenders

• Online service 24/7.
• No paperwork.
• Instant approval.
• Same day funding.

Direct Lenders That Offers Instant Cash Loans in Canada

If you need instant access to money and you are looking for a fuss-free loan application, then you should apply for instant cash loans from direct lenders. They are very easy to apply for and get approved within a short period of time. Here are some of the most reputable and trusted direct lenders that you can choose from:

310 Loans

With a 30-minute loan approval promise, 310 Loans is one of the easiest and fastest ways to get cash. They offer loans of up to $1,500 with no credit check. They offer short-term loans of up to 14 days and charge an APR ranging from 391.07% to 651.79%. 

Captain Cash

Captain Cash is an online lender that offers loans of $500 to $750 with quick approval, no credit check, and paperless application. They have a repayment term ranging from 90 days to 120 days and charge an APR of 22% with a processing fee of $0.50. You can get approved in as fast as 5 minutes.

My Next Pay

If you are in a tight spot and you need to get money within the next 30 minutes, visit one of My Next Pay’s offices to apply for an instant cash loan. They offer fast loans ranging from $300 to $3,000 with a repayment term of up to 6 months. My Next Pay charges an interest rate of 18%, which is relatively lower compared to other lending companies in Canada. 

Conclusion

Instant cash loans are the fastest way to get money and avoid all the hassles that come with borrowing from a bank. With a direct lender, you don’t need to wait for days to get approved and get money. However, choose your direct lender wisely as you do not want to be stuck paying so much for a little debt you took.