I Need Money Now, Can I Get Instant Loan Approval?
The answer may be “no” if you apply for a loan from a traditional lender. Getting a loan from traditional lenders, like banks and credit unions, takes days, or even weeks. This is due to all the complicated procedures that must be followed before your loan application is approved.
However, you can get instant approval from online lenders when you need money urgently. Instant loan lenders usually approve a loan request within as little as 15 minutes after receiving your application.
How Do Quick Online Loans Work?
Quick online loans are meant to cover urgent needs, like when you need to pay an emergency hospital bill, handle car repairs, pay up rent, or make an unexpected journey.
As the name suggests, the entire borrowing process, from submitting your loan request form to the loan funding, is completed online. Getting a loan by phone is also possible in this case. Either way, you can expect to get lender approval in as fast as 15 minutes. The funds may get to you as soon as the following business day.
How Long Does it Take to Get an Instant Online Loan?
Typically, the amount of time it takes to get an instant loan online varies depending on the lender with whom you’re applying. But generally, approval from online lenders is quick, and you can expect the funds within days.
To increase the likelihood of your loan application getting approved faster, ensure the information you provide on the loan request form is complete and correct. Incomplete or incorrect information may cause delays in the loan approval or even lead to loan denial.
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Do I Qualify for Fast Online Loans?
The qualification requirements for online loans aren't difficult to meet. Here are some of the basic conditions set by lenders:
- Be at least 18 years old.
- Have a valid and active checking account.
- Have a regular source of income (job, business, etc.).
- Have an active email address that can receive your account information.
- Live in a state served by your lender.
Depending on the amount of money you need, the lender may also ask for other additional information or documents before approving your loan. Some of the documents asked include:
- Proof of identity documents like state-issued ID, passport, driver’s license, military ID, and social security card.
- Employer and income verification documents like paystubs, bank statements, W-2S and 1099s, tax returns, and employer’s contact information.
- Proof of address documents like utility bills, mortgage statements, lease or rental agreements, and property tax receipts.
Can I Get Instant Approval Through WeLoans?
Yes, you can get instant loan approval for online loans through WeLoans. We are committed to providing borrowers with a platform that makes it easy to get instant loans. When you submit your loan application through us, you’ll get a lending decision in as soon as fifteen minutes. And if you’re qualified, the lender may send you the funds as soon as the following business day.
Also, the process of getting the loan is as simple as possible. You only need to submit your personal details/documents online at the comfort of your home. There is no hassle of visiting a traditional bank or queuing at the banking hall. You won’t even require collateral to secure an online loan, so you don’t have to worry about tendering one of your valuable items.
How Does WeLoans Compare?
|Why Use Us?|
|How much am I allowed to borrow?||Up to $35,000||No hidden fees or charges|
|What are typically the loan terms?||Up to 36 months||Various repayment options|
|Do lenders check my credit?||Yes||Soft search only|
|Do lenders take bad credit?||Yes||Bad credit considered|
|Chances of approval||Good||Quick turnaround|
|How to apply?||Apply online||No paperwork needed|
How to Apply for Online Loans with Instant Approval
Applying for online loans is quite easy with WeLoans. The following are the three main steps to follow.
Fill out the application form
Access our site and fill out the loan request form by entering basic personal and financial information, along with the amount you would like to borrow. There is no paperwork or faxing needed here, so the entire process should take you like three minutes.
Choose an offer
Upon receiving your information, we will forward it to our reputable lenders. Consequently, several lenders will send you their offers with their terms and interest rates. Go ahead and select the offer that seems most suitable to you.
Get the funds
Once you have signed the agreement, the lender will send you the money as soon as the next business day. The funds are sent directly into your bank account.
How much would you like?
Is an Instant Online Loan Right for Me?
You may be wondering whether you’re making the right decision by taking an instant online loan. Below are a few questions that can help you make up your mind.
- Have you exhausted all alternative means to get the needed funds?
- Are you in a position to repay the loan?
- Why do you need the loan? And can the reason for taking the loan wait?
- Does the reason for taking the loan outweigh the total loan cost?
Answering these questions truthfully will help you decide if you need an instant online loan.
It’s important to note that quick online loans are suitable for short-term financial solutions. It’s not recommended to use these loans to solve your long-term financial problems, as this can result in you accumulating more debt.