It’s been a tough month for many Americans, with the pandemic sweeping the country. And while it seems like payday loans are no longer an option for those who need cash fast, what about other forms of credit? The Federal Reserve reports that credit card usage has increased more than 5% since the first week of August. This number is expected to continue to climb as more and more people find themselves in financial difficulty in this time of crisis.
How to apply for your first personal loan?
Applying for a personal loan is easy when you go through an online lender. All you need is proof of active employment, an open checking account, and no current credit issues. You can then qualify in minutes by providing your bank routing number or social security number – whichever they ask for!
Upon successful completion of the application process, funds will be deposited into your checking account within 24 hours with full access to the money, either by ACH transfer or direct deposit, whichever method works best for you. !
All in all, if you’re looking for quick access to cash during this pandemic crisis, applying for an online payday loan could provide exactly what you need to get you back on track financially without having to to sacrifice too much personal information. According to Usman Konst of Bridgepayday.com actually declined during the pandemic due to government assistance. Now that many programs are finished, the volume increases again.
Why should you get a payday loan instead of credit card debt or other types of loans?
Credit cards are restricted to specific stores, which means buying generic products becomes difficult. Plus, if you’re in doubt about your ability to repay immediately, expect hefty fees and high interest rates on top of the original balance.
Payday loans provide quick access to cash with no questions asked for those who have been impacted by the pandemic in one way or another but still have a stable income in their household – even if they are not currently employed! Best part? You can take out a payday loan and pay it back later – even after the pandemic is over!
What is a pandemic prepared business?
Businesses are sensitive to the pandemic, as are individuals, but they run an additional risk of losing money. If your employees can’t come to work due to illness or a quarantine order, you don’t earn any money! That’s why it’s important for bottom-line businesses in this time of crisis to take action now to protect themselves from future losses.
Business owners can prepare for a pandemic by signing up with online payday loan companies – giving them access to cash on demand when credit cards and other forms of financing are difficult, if not impossible, due to widespread infection rates.
Another option? Consider adding pandemic preparedness insurance coverage on top of your traditional insurance policy. This protects your business against financial losses due to the pandemic, such as downtime, missed revenue, and increased cleaning expenses. And because it’s an addendum to your existing policy, you won’t need any additional underwriting or approval, meaning this insurance coverage can be added relatively easily!
How to benefit from a personal loan?
To qualify for a payday loan, you need a stable income, an open checking account, and no current credit issues. Additionally, if your bank account has been frozen or closed due to suspected pandemic-related fraud or theft, you may not be eligible – meaning the only way forward is to use a traditional form of financing such as a business line of credit.
Why should you use payday loans if you’re ready for a pandemic?
If your employees can’t come to work due to illness or a quarantine order, you don’t earn any money! That’s why it’s important for bottom-line businesses in this time of crisis to take action now to protect themselves from future losses.
Business owners can prepare for a pandemic by signing up with online payday loan companies – giving them access to cash on demand when credit cards and other forms of financing are difficult, if not impossible, because of infection rates.
Payday loans offer quick access to cash without having to go through an extensive application process or approval process; they are ideal for borrowers who need quick access to cash to avoid falling behind on other bills.
And while the interest rates associated with online payday loans can be higher than traditional funding sources like business lines of credit and bank loans – when you consider the alternative (i.e. without money), it seems like a small price to pay!
Another great advantage of using payday loans is that they don’t require you to have collateral or great credit. Instead, these loans are based on your ability to repay the loan rather than your payment history – meaning if you’re ready for a pandemic and need quick access to cash now it’s definitely an option to consider!