First you need to determine what type of payday loan you need, if you are a bit confused about that try and think what you need the loan for and how much you need to borrow. Here are some online loan tips to help point you in the right direction. That will provide you with a sense of where to go.
This is just a few suggestions for you to ponder around. The most common types of loans are used for:
- Car (keep that repo man at bay)
- Mortgage (help making that house payment)
- Business loans (small business loans)
- Medical loans (for you, family, or your pets)
- Personal loans (for whatever you need: food, gas, bills, etc)
- Emergency (anything can happen, cash always seems to be needed!)
Those 6 pretty much cover everything with the exception of medical type loans which can get really confusing cause they do not really exist. When you need a short term loan, make sure you have all your ducks lined up in a row and be prepared to knock out those bills so you can pay the loan back on time.
Most home loans and refinance home mortgage options are done through a bank or a big lending house, as where auto loans can be done either through a bank or the dealerships financial lenders they have contracts with.
Then there is the online payday loan for when you need a few hundred dollars right away for the essentials in life – they truly are for emergencies only.
Required for Approval for Most Payday Loans:
- valid drivers license or state issued ID.
- proof of income stream (pay stubs, etc).
- checking account with direct deposit.
- proof or residence.
- valid phone number.
- decent to good credit score.
- depending on the lender, more info may be required.
Don’t let the news media try and scare you with all the BS of high interest rates for paycheck loans. Look at it this way… If a person is paying on a $300,000 mortgage at 5% interest during a 30 year term, they end up paying nearly TWICE as much for that home.
Here is the math, plain and simple:
- Mortgage Amount: $300,000
- Interest Rate: 5%
- Interest Term: 30 years
- MONTHLY PAYMENTS: $1,610.46
- TOTAL PAYMENTS: $579,767.35
- TOTAL INTEREST PAID: $279,767.35 (the interest is almost as much as the loan!)
>> Now, do you think the interest rate on a payday loan is worse than that of a standard home mortgage? Anyone with common sense would say, “no”. So don’t fall for that nonsense being spewed by the national media and reporters just looking for a story.
So no matter what you may need a loan for, CanisLending.com can help you get the cash you need so you may get things done without having to stress over it any longer. We serve residents of the USA, Canada, and the United Kingdom – please fill out the appropriate form on our loan application page.
You need money, we want to help get into your hands with the least amount of headache as possible. Choosing the online route is faster, easier, and way less stressful plus there is no faxing required (a true *no fax payday loan*). Lenders are standing by with money in hand ready to be transferred to your account, all you need to do is ask for it.