Same Day Loans – Everything that You Need to Know
When financial difficulties arise and you are having troubles raising the amount of money that you need, there will always be loan providers who can give you same day loans.
This is one of the reasons why same-day loans are very popular. This type of loan is different from traditional loans. The process and set of requirements are also a bit different.
What are Same Day Loans?
From the name itself, a same day loan (also called as a same day payday loan) is a type of short-term loan where a borrower can get the loan funds within the day.
There are some instances where the borrower gets the approval as well as the funds on the next business day. With that being said, this only happens if you apply during the wee hours of the day, so we highly advise you to apply during the early part of the day.
Same day loans are exclusively used for emergency purposes only. This type of loan is intended for borrowers who need cash in an urgent basis.
5 Facts You Need to Know About Same Day Loans
Are you still in doubt if same day loans are real? If the answer is yes, then here are some facts that you need to know about the fastest financial solution online:
1. Fast application process
Many people prefer to use same-day loans since the application is fast and hassle-free. Hence the name “same day” loan.
Imagine the hassle if you go to a bank (or any nearest financial institution near you) and have to submit all the requirements just to get an approval. Applying for a loan shouldn’t be that hard since you are having a hard time financially already.
That is what Citrus North is all about, to lessen the burden of getting the financial aid that you need whenever you need it the most.
2. A perfect and/or good credit score is not required
With that said, many clients prefer these kind of loans because lenders are not too strict. Although, they still check your personal credit score. Nevertheless, our network of trusted lenders are not as strict as traditional banks and other lending companies.
3. You still need to submit requirements
Online same day payday loans are categorized as short-term loans. Contrary to what some people believe, you still need to submit requirements.
Yes, it is true that the requirements are not as strict as that of conventional banks. But it does not mean that you can just secure one without submitting any requirements.
What are the requirements and documents needed? It actually depends on the lender. So, without further ado, below are the basic requirements during the application process:
- Latest income payslip
- Government-issued and/or valid IDs
- Existing bank and/or checking account
- Social security number
Given the following pointers above, lenders who provide same day cash advance may not be as strict as traditional lending companies.
Nonetheless, you still need to prove that you have the financial capacity to repay back the same day loan on time or before the maturity date (due date).
4. BEWARE: some payday loan lenders are not legit!
The truth of the matter is that when you search for same day loan providers, you find many options.
Unfortunately, not all of them are legitimate. Some may be shady operators that will take advantage of your current financial situation.
With that said, these scammers offer too good to be true offers then charge hefty interest rates and fees. Before you choose a same day loan provider, it is best that you take the time to dig deep about the company online. Having said that, we highly advise you to take the following actions:
- Read the “About Us” page of the company
- Make an in-depth research about the reviews and feedback of people about the company
- Dig deep about the people who are behind the shady company
- Check if the URL starts with HTTPS. If not THEN ITS DEFINITELY A PHISHING SITE! A phishing site/s lures visitors like you to believe that you are visiting a legit site by mistyping the website address and imitating a popular website. Beware of these sites as it steals all your confidential information (such as your accounts’ passwords).
Given the following pointers above, reputable same day payday lending companies have their official website. Through the site, you can access all of the valuable information that you need.
With that said, legit lending companies will provide you with all the necessary details and information that you need. This include the following:
- Company profile
- Contact information such as phone number, email address, etc.
- Frequently asked questions (FAQs)
- Interest rates
- Loan funding and repayment methods
- Processing fees (if any)
- It also helps if they have a loan calculator online so you know the expected amount.
5. Not for long-term financial solutions
Getting a cash advance may be the fastest option. However, it is not a long term financial solution. There have been many instances where some people incur a lot of debt.
You may have instant cash now, but remember that you also need to pay it back in a short period of time. Same day loans have higher interest rates so you have to think twice and make sure that you have the capability to repay it.
Finding a Same Day Loan Lender
Finding a reputable and legit same day lending company is now made easier. Having said that, Citrus North serves as a legitimate platform where you can search through the different financial solutions and lending companies that we offer.
If you are planning to take out a payday loan, we strongly recommended that you take time to get the information and other pertinent details that you need. This is crucial to make sure that you are indeed getting a loan from a real company. We at Citrus North is just that, we are a legitimate company and we will never charge hefty interest rates and fees. Aside from that, we do not offer onerous terms and conditions.
So what are you waiting for? Feel free to fill up our online loan request application form. You can also call us via our phone number to know more on how we can help you financially today!