Already out of cash but payday is still weeks away? Turn to speedy loans! Perhaps you have tried borrowing from a speedy lender, and you noticed how fast and convenient the service is. Whether you're a first-time or a seasoned borrower, you'll surely appreciate what speedy loans have to offer, especially if you need the money now.
What Are Speedy Loans?
Speedy loans are chiefly loans that take a shorter time to process, ranging from a few hours to about three business days. Basically, there are two types of loans:
* Secure loans- these are distinguished by guarantees or collaterals that are the lending institution's form of security against non-payment of loan repayments.
How this works: Along with a loan contract comes an agreement that you will cede a certain property of approximately equivalent value if you fail to pay a percentage of the loan repayment. This property can be a car, house, or a piece of land.
* Unsecure loans- these, meanwhile, are characterised by evaluations on the loan applicant's credit rating and history.
How this works: The lender gets your pertinent tax and credit information and assesses it. If you met their grade requirement, which means that you have the proven capability to repay your loan, that is when you will be granted the loan package you seek.
What kinds of loans do speedy loans apply to? The following lists the top three:
* Payday loans- need money but payday is still weeks away? Apply for a speedy loan... and get it fast!
* Car loans- borrow money to purchase or pay off installments for your dream automobile.
* Mortgage loans- pay your household bills, title-related expenses, even a brand new home.
How Do Speedy Loans Work?
You may wonder how a speedy loan process lives up to its name. That's because speedy lenders now make use of the most innovative loan solution systems. Here are some of the features that speedy loan software systems have:
* No-fax application- just prop yourself in front of a computer, log on to the lender's site, fill out an application form, and that's it. Should the lender be needing further documents, all you have to do is to upload them.
* Automatic computations and evaluations- lenders no longer have to deal with calculators, pens, big books, and ledgers. Credit ratings, interest rates, and other pertinent calculations are zeroed in right upon receiving applications.
* Automatic cheque encashment- you no longer have to deal with long queues at the bank just to encash the cheque bearing your requested loan amount. With high-tech speedy loan systems, all you need to do is go to a lender, apply for a loan, get approved, get your cash, and go home with your dough.
* Security features- lending and customers alike are big on this. Following are the key security features that speedy loan systems have:
Secure socket layer (SSL) encryption- as per security quality standards, all speedy lending systems need to have their websites secured in the sense that information entered in the system will not be accessed by any third party.
Cookie-resistant system- Cookies are small files that get stored in your computer whenever you log on to the Internet. A sterling example of cookies is the username that pops up when, for example you log in to your online bank account. The one that pops out is the username that you used when you previously logged in to your account. Speedy loan systems, on the other hand, ensure that only a minimal amount of cookies are sent to your computer whenever you register information in their site. These systems take care that no sensitive information such as those you enter in the online application form get stored in your computer when you leave the webpage so that others won't be able to access it.