man got cash from direct loan lender

What Is The Benefit Of Getting Cash From Direct Loan Lenders?

There are two ways to get a loan: go to a bank or a direct loan lender. Direct loan lenders are private companies that are not affiliated with any bank, credit union, government institution, or investment corporation.

As private companies, direct loan lenders aren’t bound by as many rules and regulations as larger financial institutions. So, they’re often easier to work with and have a more flexible range of loan products.

Here are some benefits of getting cash from direct loan lenders, rather than traditional banks and credit unions.

The Benefits Of Getting Cash From Direct Loan Lenders

More Flexible Criteria For Approval

Banks set very high credit requirements because they want to avoid risk.  Aside from looking at your credit score, they will also ask a lot of questions about your employment and income.

While it makes sense to check your capacity to pay off a loan, banks are rigid to a fault. For example, they may refuse a loan just because they don’t work for a big company or have a 9 to 5 desk job.

However, many people earn very good money from part-time work and actually choose work that gives them flexibility. But just because they don’t fit a bank’s criteria of a “stable job” then they can be denied a loan even if they can afford to make payments.

Direct loan lenders have more flexible criteria for approval. You can apply for a loan if you have a part-time job or if you have non-employment sources of income like alimony or a pension.  

loan application for direct loan lender

Special Loans For People With Bad Credit

Banks will never lower credit requirements. In contrast, direct loan lenders like Idaho Title Loans, Inc. specialize in making loan packages for people with bad credit or no credit history.

So, even if you have to go through a credit check, you don’t have to worry that you’ll be denied just because of your score. The loan packages base approval on other factors and the loan representatives will work personally with you to find the loan that best suits your financial situation and needs.

Less Paperwork

Banks and credit unions will ask you to submit several documents to prove your ability to pay a loan. If you have a borderline credit score or any other “red flag” that prompts them to investigate further, you may need to provide more information or ask someone to be a co-signer or co-lender on your loan. 

Chances are, you’ll spend days or even weeks gathering these documents and filling out dozens of forms. It’s tedious and time-consuming, especially since you’ll have to go back to the bank to submit the completed forms.

Direct loan lenders have considerably fewer requirements. In fact, Idaho Title Loans, Inc. usually only asks for 2 to 3 items.

For example, with title loans, you just need to present your lien-free vehicle title and any state-issued ID card with a photo like a driver’s license, and then have a vehicle inspection to determine the maximum loan amount that you qualify for.  

If you apply for payday loans or signature installment loans, you just need to show your latest pay stub and a government-issued ID. However, you’ll need to have an active checking account since you will be using a post-dated check to pay for the loan.  

Faster Processing

Unlike banks—which can take days or even weeks to process an application—we can give you same-day approval, and release the cash right away.

Easy Online Inquiry

Taking out a loan is a major financial decision. Naturally, you will have questions about your loan limit, what payments you need to make, and whether you will qualify for the loan.

If you work with banks and credit unions, you will have to go to them to inquire. Often having to wait in line, can mean wasting an hour or more just to ask a few questions.

But with the online form, you can get in touch with a loan representative anytime and anywhere. Just send us your contact details through the online form, and get a call back in just a few minutes. 

car title loan cash

Instantly Find Direct Loan Lenders Near You

Interested in getting a loan? You can start your loan request right now with just a few simple steps. 

  • Fill out the inquiry form to begin the process. This takes just a few minutes, and rest assured that the info is only used to contact you.
  • A loan representative will reach out personally to explain the different loan packages and help you find the one that best suits your needs.
  • When you’re ready, submit the requirements at the nearest branch. We have locations all over the state, and the in-person process will only take 30 minutes -- much faster than the experience of going to a bank
  • When the loan is approved, you just have to sign the loan package. The money is usually released on the same day. If it's after the cut-off time, you can get it the next business day.

Click on the form to find out more about getting the right loan for your needs.  

Get Started Today

If you have considered your loan options and decided to use a direct loan lender for your fast cash needs, simply complete the online form and gather the requirements for approval.

Remember, the title loan requirements differ from payday loans and signature installment loans. So, be sure to carefully review the items you need to qualify before getting started.


Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.