What Is a Direct Lender for Bad Credit?
A direct lender for bad credit is the lender that gives you a loan to cover an urgent need or ongoing expenses even if you have bad credit. These lenders offer you the funds you need directly without going through third-party lenders or middlemen. They will also handle all aspects of the loan, from reviewing your request to funding and collecting repayments.
Unlike traditional lenders like banks, most direct lenders offer a simple loan application process with quick approval. You can complete the application process online without having to visit a brick-and-mortar bank, and there is no complicated paperwork to fill out. Once approved, your funds are sent to you within 2-3 days, depending on the lender you're dealing with.
Can I Get Loans for Bad Credit through US Installment Loans?
Yes, you can get up to $5,000 for bad credit through US Installment Loans. Here are the steps to follow during the application process.
Fill Out a Form
The first step is to access our website and fill out a loan request form. Here, you only need to answer a few simple and straightforward questions about your personal and financial information. The entire process should take you only about three minutes.
Upon receiving your application, we will forward it to 150+ lenders in our network. Several lenders who are willing to offer you a loan will then send you their offers. Read through the terms and conditions in each offer before selecting the one that suits you most.
Get Your Funds
Once you've accepted an offer, the only remaining thing is to relax and wait for your money. The money could get into your account as soon as the next business day.
How Much Do You Want?
How Can I Get Loans From Direct Lenders for Bad Credit?
Getting a loan for bad credit from a direct lender isn't difficult. You'll just access the lender's website, fill out a simple loan application, and submit it. The lender will send you an offer containing loan terms and interest rates if you're qualified. If the offer is suitable, accept it and wait for the funds to be deposited into your account. And that's it!
The eligibility criteria for a loan may vary from lender to lender. In general, some of the requirements you're required to meet include:
- Be at least 18 years old
- Have an active phone number and email address
- Be a US citizen
- Possess a valid checking account
- Have consistent monthly income
What Kind of Loans Can I Get From Direct Lenders for Bad Credit?
You have various options when you apply for a loan from direct lenders for bad credit. These include:
As the name suggests, an installment loan is a type of loan that needs to be paid back in installments. These installments are usually in the form of monthly or quarterly payments, which you'll pay back over a specified period.
Most lenders require you to have a stable source of income so you're able to pay each installment on time with the repayment terms. You can utilize your direct lender installment loan for a wide range of things, such as covering a hospital bill, buying your first car, doing some renovation project, consolidating debt, funding your education, or any other financial need.
A payday loan is a short-term loan meant to be repaid on the next payday. Due to the short-repayment period, these loans often have unfavorable terms and high-interest rates. Therefore, you should only consider a payday loan when you have an urgent financial need, and you're certain you can repay by the next payday.
Title loans are loans you get by handing over your car title to a lender until the loan has been repaid. Various types of vehicles can be used as collateral, including Sedan cars, vans, RVs, trucks, boats, and even motorcycles.
The good news is that you'll still be able to use your vehicle during the entire loan period. However, have a clear plan of how you'll repay the loan, as the car may be repossessed if you don't make repayments.
Lines of Credit
A line of credit is a predetermined borrowing limit that you can tap into anytime until the credit limit has been reached. This type of loan is ideal if you're embarking on a project but don't know how much you'll need. You can withdraw the money as the need arises. Interest is only charged on the amount borrowed.
Is US Installment Loans a Direct Lender for Bad credit?
US Installment Loans is not a direct lender for bad credit but an online loan broker. We connect you with direct lenders that can offer you loans with bad credit to satisfy your financial needs.
There are multiple benefits of applying for a loan through us instead of contacting a lender directly. For starters, we can help you get the funds you need quickly and without any hassles. You won't have to spend an entire day comparing different lenders online. This is critical, especially if you are getting a loan to cover an urgent need.
In addition, we only connect you with licensed, trustworthy lenders. You can have peace of mind knowing you'll get the money without getting scammed.