If there is one constant about life, it is that it has a tendency to drop unexpected problems on your lap when you least need them. And when that happens, you will often need to look for a way to quickly access the funds that you need in a hurry.
Luckily, there is no shortage of lenders to choose from, especially given that you can now apply for financing online through an installment loan service provider. However, the bad news is that, with no shortage of options, it can be very tricky to pinpoint a trustworthy lender to partner with.
In this respect, we decided to quickly review US Installment Loans, which is a credit broker that has a stellar reputation for being able to connect borrowers of all credit types to reliable lenders.
What Does US Installment Loans Provide?
It is important to remember that, as a credit broker, US Installment Loans does not provide funding directly but acts as a financial intermediary that connects borrowers with potential loan providers across the country. This spares you all the extra effort of having to find a lender yourself or dealing with an unscrupulous online lender.
Furthermore, these lenders are typically open to providing borrowers with a wide variety of loans, such as installment loans, payday loans, and title loans. Most of these loans typically range from as low as $100 and can go up to a maximum of $35,000 with APRs that vary between 5.99% and 35.99%.
The loan process is also designed to be fairly simple and straightforward so that even the most inexperienced consumer can apply for an online loan without much hassle.
In this respect, Owen Wilcox, co-founder of US Installment Loans, stated, “Our main focus when designing our online platform was to offer simplicity, as we aim to ensure that users can navigate their way to a successful loan application within a matter of minutes.”
If your loan request is approved, US Installment Loans’ lending network will usually process your funds by the next business day. This makes it a great choice for borrowers who may be looking to secure cash in a hurry.
How To Secure Funding With US Installment Loans?
If you want to apply for a loan via US Installment Loans, the first thing that you need to do is ensure that you actually meet the necessary eligibility requirements. This means ensuring that you:
- Are over the age of 18
- Are a permanent resident of the US
- Have a steady source of income
- Have an active bank account
If you meet all these conditions, you can head over to the website and fill out the pre-approval form, which typically requires you to provide your personal details and financial information, e.g., income details, credit score, etc.
You will also need to input the loan amount that you want to borrow, as well as your bank account details for the funds to be deposited. Once the form is submitted, your request will be instantly distributed to their partner lenders for review.
If approved, you can expect to receive multiple offers from different lenders, each with its own specific rates and terms. You will be able to compare them until you find the one that best fits your budget and requirements. From there, you just need to wait for the lender to deposit the funds into your account, which should typically be done by the next business day.
What Are The Pros and Cons of Using US Installment Loans?
One of the main benefits of using US Installment Loans is that it offers borrowers access to an extensive lending network that provides multiple types of loans. Some of these loan products include bad credit loans, payday loans, installment loans, title loans, and more.
Another benefit of US Installment Loans is that most of their partner lenders are usually more interested in your income level than your credit score when determining your eligibility. This means that even if you have a bad credit history, you still have a chance to secure loan approval.
In addition, US Installment Loans is extremely security-conscious, as the site uses bank-level encryption to protect any data you share using their platform. As such, you can rest assured that their service is trustworthy enough to help process your personal and financial information.
On top of that, the platform is completely free to use, and all loans processed by their lending network are deposited within 24 hours of approval. This makes it an excellent option for any borrower looking to quickly secure a loan to deal with an unexpected expense.
However, the downside of using this service is that the APRs offered by their lending network can often be higher than what a traditional lender like a bank typically provides. In fact, depending on the type of loan, you may find that your APR even goes into the low to high triple digits.
Also, even if you are approved for a loan, you should keep in mind that there is no guarantee that you will be able to secure the exact loan amount you requested. This is because their partner lenders will usually look at your income level to determine how much you can reasonably afford to borrow
Is A Credit Check Necessary To Secure An Installment Loan?
Most online lenders will usually conduct a soft credit check to verify your information if you wish to borrow cash. This is in contrast to most traditional lenders, who will usually carry out a hard credit check on your report before approving your loan request.
The benefit of this is that you don’t have to worry about the credit check negatively impacting your credit score or affecting your chances of securing approval. As such, you can rest assured that you will still get approved, even if your credit score is below average.
Can US Installment Loans Be Trusted?
US Installment Loans has been in the online lending industry for a few years, and it has so far managed to build a stellar reputation among many online borrowers since then. The company takes its job seriously and works to ensure that the entire loan process remains completely honest and transparent as you apply for funding online.
Furthermore, you can also find a fair amount of information on their website on how the entire loan application process works, the types of loans that you can apply for, as well as any other inquiries that you may have. And as mentioned before, the site uses high-end data encryption software to ensure that any information you share remains confidential and secure.
Plus, they also vet every lender within their network to ensure that you do not get matched with a loan provider that has a history of unscrupulous lending practices.
It is almost impossible to plan for an unexpected emergency, so it often helps to be able to borrow cash quickly, even if you have a less-than-stellar credit rating. In such situations, US Installment Loans can be quite the lifesaver, as they make it easy to connect with a legitimate online lender within minutes.
The entire loan application process is also fairly simple, and you don’t even need to submit any lengthy paperwork. It also helps you compare different loan offers to find the best deals possible.
And since US Installment Loans doesn’t charge any fees to use their online service, it’s safe to say that you have nothing to lose and everything to gain. So, make sure to try them out today!