Why Direct Lenders are a Better Option for Online Loans
Sometimes, you will need short-term funds. A sudden life event such as a birth, baby, or move can cause you to need additional cash. Online loans can be obtained from direct lenders without the need for loan brokers or fees.
OakParkFinancial, a direct lender, offers an easy application process, instant loan decision, and funding within 24hrs (in many states) of your request. Let’s take an in-depth look at online personal loan from direct lenders and what they can do for you directly from OakParkFinancial.
What are Online Direct Lenders and how do they work?
Online direct lenders allow you to access the funds you need for financial relief. If you meet the criteria, you could be approved for a short term loan. This loan can be paid back in a matter of weeks or longer for installment loans, lines of credit, and title loans.
A broker or loan connection provider can provide a short-term loan, but it can be risky. Because indirect lenders give your information to many companies, they may add on expensive service fees.
How direct online loans work
Here are some things you can expect if an online lender offers you a loan.
- You apply – The lender will ask you to submit an application, which is typically done via an online process. They will require you to provide some personal and financial details such as your name, address, Social Security Number, and income information. If you’d like the loan to be directly deposited into you account, you can also give them your banking details.
- The Lender Issues a Decision. Once you have submitted your application, the lender will make a decision about whether to approve or deny you a loan. You don’t need to be perfect credit because direct lenders will have stricter requirements.
- You get the funds. If approved by the lender, you will receive the funds via direct deposit or cash collection at a brick-and mortar location. Many lenders offer quick funding, so you might be able to receive your money within 24 hours. OakPark provides same-day funding for those who apply before 10:30 AM ET or within 24 hours after they receive their application.
Benefits of working as a direct lender
Online direct lenders have many advantages, including the following:
- Directly Work with the Lender of Your Choice. A direct lender can help you get a loan. There is no middleman as there would be with loan matching services. You can choose to apply with the lender and loan company of your choosing. OakPark is an American direct lender. We have been operating since 1997 and are licensed in 27 states.
- Get an instant approval decision from direct lenders. Your application will be reviewed and approved immediately. Your funds might even be available in 24 hours. You may need to wait for a loan connection service to process your loan.
- It’s simple to apply for loans online with direct lenders. Direct online loans are now possible with your mobile device or phone. You no longer need to wait for multiple lenders to offer you offers. The entire process can be completed in just minutes, and you will receive a decision within minutes.
OakPark provides Direct Lending Options, Designed to Meet Your Needs
OakPark can provide a short-term direct lender loan if you are looking for a loan. Our website allows you to apply online in seconds and receive a decision within minutes. Once approved, the funds are deposited into your account within 24hrs.
Disclaimer: The information provided in this article serves as an informational purpose only. Consult your financial advisor about your financial circumstances.