We are sometimes unfortunate, running out of enough cash in critical times when we need to spend money. And they are mostly as a result of unexpected and unforeseen circumstances expenses associated with emergencies such as hospital bills, house repair, and many more, which can leave us struggling with our finances. In such situations, the best option that can provide one with quick cash is the direct installment loans. These loans offer support during an emergency.Â
If you are still ignorant of how helpful direct installment loans can be, the best idea is to search for vital information from renowned private lenders like Extra Loans. Thatâs why weâve compiled some of the most significant benefits of signing up for an installment loan in a financial crisis.
Simple Application Process
There are several processes attached to securing a traditional loan from the bank, and these processes can eat up weeks and may not be straightforward as you wish. What if you need the money to sort out an emergency, and your application eventually got denied after a few weeks? Youâd be frustrated.
With an online installment loan, the entire application process is straightforward and stress-free. For example, when applying for a loan from Extra Loan, the online application process is limited to only a few minutes. All forms are filled online without having to make an appointment and running around offices during work hours.
Higher Loan Amount
Online installment loans provide you with longer loan terms and also offer you a higher loan amount. Some people can use these higher loan amounts to fully settle their expensive emergency or unforeseen expenses, or used to maintain cash flow until their next pay dates. Also, a more considerable loan amount coupled with a fair repayment rate reduces the risk of picking up multiple loans to gather enough funds to sort an emergency.Â Â
A direct installment loan remains the best option whenever you get stuck in an extremely tight financial brouhaha with limited time to search for a reliable source to secure a loan. Many consider this loan preferable to others because they are quickly obtained with no delay. Other short term loans sometimes take time to receive. However, the case is different with Extra Loans; our process is even quicker because a credit check isnât associated when requesting an online loan from our firm.Â Â Â Â Â
Minimum Documentation Required
No documents are required to obtain direct installment loans. In some cases, different documents are necessary to secure an online loan. With Extra Loans, only a few things are required; they are a valid photo ID, proof of income, and checking account with your bank statement. Once these three things get accomplished, you are moving closer to acquire the installment loan you need. The loan process is sped up as a result of this, making many Americans prefer any direct installment loans.Â
With these considerations at the back of your mind, if youâre interested in applying for an installment loan, contact Extra Loans today. You may qualify for a larger loan.