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Frequently Asked Questions

What is a payday loan?

Payday loans are high-cost short-term loans for covering urgent expenses. Borrowers use them to pay for small home repairs, medical or utility bills, credit cards debts. Payday loans must be paid back with the next paycheck.

What is the maximum loan amount that can be offered?

Online loans FAQThe total amount of money varies depending on lender, state and loan type. Payday loans (cash advances) have a maximum amount of $1,000. For installment loans and personal loans usual amounts are: $1,000 to $5,000 and $5,000 to $15,000 accordingly.

Is everything done online?

Borrowers apply for loans and receive funds online, from office or home. Some lenders may ask to send documents by fax, but this can be also managed online.

Are you working with legitimate lenders?

Direct Loans Lenders works with state-regulated, 100% legitimate lenders. We never deal with any shady third-party loan brokers. It can be hard to find a reliable lender online, so it’s better to use our service.

What are the basic requirements for getting payday, installment and personal loans?

  • US citizenship or permanent residence;
  • Be 18 years of age;
  • Have a checking account;
  • Stable and verifiable income.

I have bad credit history. Is this an issue?

For cash advances and installment loans, lenders don’t need good credit. People with poor credit score may be approved fast. For high amount personal loans, lenders do credit checks and bad credit can be a problem. We work with many lenders, so chances of getting a loan are high.

Do I need any collateral for a loan?

Payday and installment loans are unsecured loans and don’t need collateral. Personal loans may require collateral. Ask the lender about secured loans before you apply.

What will my APR be?

The APR or interest rate for payday loans depends on lenders terms, and state laws. Short-term unsecured loans, like cash advances and installment loans, come with a very high interest rate. Personal loans have lower APR. You must verify all rates and terms before signing a loan agreement. Review Rates and Fees for more examples.

How long does online loan approval take?

The loan decision is almost instant and takes about 5 minutes. The final loan approval may take from one hour up to one business day.

How can I get my loan?

If approved, lenders will deposit funds to your bank account in one business day.

How to repay a loan?

Payday loans should be paid back in full with the next paycheck. With installment loans or personal loans, borrowers have months or even years to pay off the loan. The repayment plan is disclosed in the agreement.

How to use borrowed funds?

Way to use borrowed money.The lender will never ask what do you need the money for. You can use it for any purpose. Payday and installment loans are used to cover urgent expenses. To consolidate debts, make home improvement, pay for medical bills or buy a new car, use personal loans.

How does a loan affect my credit score?

Taking out a loan could repair or damage your credit rating. Paying off cash loans or paying installments on time, will improve your credit rating. Late or non-payment will damage it and leave a negative item on credit report.

Is it possible to extend my loan?

When it comes to loan extensions, laws and regulations tend to be very strict. Follow this guide about Extended Payment Plan.

Can I pay off my loan earlier?

Paying off loans earlier is a good idea, because you may save money on interest! However, check if the lender charges extra fees for early repayment.

Can i Get a loan without a bank account?

No, checking bank account is required to qualify for online loans. Lenders send money via bank transfer.

Are there any hidden fees for using online loans?

All fees associated with the loan are disclosed in terms and conditions of a loan contract. There are no hidden costs.

Is my personal information safe?

Your personal information is safe with us! We use latest technologies to protect clients’ data. Data transfers to lenders are protected and encrypted.

Do you charge any fees?

No! Our service is completely free of charge. Moreover, the cost of a loan applied through us and directly on the lender’s website is the same.

What are the benefits of getting loans through Direct Loans Lenders Com?

Here is a short list of benefits of taking loans through our company.

  • Save time by applying to numerous lenders in one place.
  • Straightforward application process.
  • Advanced customer support.
  • Complete information about responsible borrowing and lending.
  • Information on state restrictions.

Direct Loans Lenders Com can maximize your approval chances. If you had problems with getting loans in the past, most likely we can help!