Learn How To Apply For Financing With Minimum Effort

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By: Raymond James

About the Author:

Ray is a sought-after thought leader and an expert in financial and money management. He has been published and featured on over 50 leading sites and aims to contribute articles to help novice financial planners. One of his goals is to impart his knowledge in finance to educate and help ordinary people create and achieve their financial goals.

These days if you want a loan you generally have to jump through fifty hoops to get it. Even then, there’s no guarantee that you will get the loan, which can be even more frustrating. If only there was a way to get a loan without the hassle.

Actually, there is, and you can apply for financing with minimal effort. Certain lenders like Rapid Loans offer easy applications online, tailored repayment options and dedicated customer service.. If you’re approved, you could receive your funds via direct deposit to a checking or savings account the same day you apply. (Although you would have to apply very early in the day to see the funds in your bank account by the close of the business day. Banks use different clearing houses too, but customers usually see the funds by the next business day when approved.)

Working with a Finance Broker

You could apply to dozens of lenders in separate applications and consistently be damaging your credit in the process. Why go through all of that work and frustration for nothing? Working with a finance broker is much smarter and faster. You fill out one application and the broker will search to see if a lender may be able to provide you with a loan.

This way you can also see and compare terms for loans between willing lenders. If you have more than one loan option available, you can choose which lender you want to take the loan with. The broker facilitates the process and provides a simpler means of finding the right lender for your needs.

Opt for a Secured Loan Only

Unsecured loans can be the most difficult loan product to acquire because your income, credit scores, and repayment history have to be nearly perfect. Requesting a secured loan instead can provide some level of guarantee that the lender will get the money back and that you will repay the loan. Request a secured loan product and offer up something of equitable value to make the loan a worthwhile one for the lender.

Examples of equitable property include a house, a vacation property, a newer car or motorcycle, a boat/yacht, etc. It helps if the value of the item is equal to or greater than the amount you want to borrow. The lender or lending broker may ask for proof of ownership, so be ready to provide evidence to the matter.

Online Applications Are the Fast Track to the Money You Need

Finance brokers and lenders that work mostly online have streamlined the application process. It’s a quick application requesting information such as your name, address, and sources of income. They even make uploading required documentation a breeze. Once all of the paperwork is uploaded and ready, the underwriters are able to review the application and process it quickly. A response is typically provided in less than forty-eight hours, with an equally fast turnaround time to receive the funds if approved.

Even your lending documents can be signed online over a secure site now. You’re able to read through the whole document and agree with the terms with your initials and a simple digital signature. The effort is truly minimal, and you can have peace of mind in knowing that you will not have to wait long to hear a decision from the lender.

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