When a financial need arises and you’re short on cash or time, you just want to get what you need fast and hassle-free. Unfortunately, if you attempt to get a loan from a company that is not a direct lender, you could end up with headaches, delays and frustration before getting cash in hand–and that’s if you’re approved at all.
Does that mean you should use a payday loan direct lender? Or is an installment loan from a direct lender the better way to go? Before we talk about what option is best for you, let’s first explain what the term “direct lender” means.
Not every company that seeks to lend you money is actually lending you their money. In fact, they may not personally review and approve your request for a loan. Some merely take your application and immediately give it to other companies who actually do the work to provide cash for your loan. Anytime a company passes your application forward to one or more third parties, that company is not a direct lender.
A direct lender manages all aspects of the loan process. There are no middlemen to review, approve or deliver a loan to you.
If direct lending has advantages, is using a payday loan direct lender a good choice to consider? It depends on the timeframe in which you’re comfortable repaying your loan in full. The repayment time for payday loans is very short – often times due in full on the date of your next paycheck.
An online installment loan from Jora gives you the comfort of knowing you’re working with a direct lender plus the benefits on an online installment loan that allows you to pay back your loan over time in regularly scheduled payments. Some advantages of choosing an installment lender over a payday lender are: