Frequently Asked Questions

What is a payday loan?

Payday loans are high-cost short-term loans up to $1,000, used for covering urgent expenses. Borrowers use them to pay for small home repairs, medical or utility bills, and other unplanned expenses. A payday loan must be paid back in full, including lender’s fees, with the next paycheck.


What is the maximum loan amount for payday loans?

Online loans FAQThe total amount of money depends on lender, state lawas and borrowers creditworthiness. Payday loans or cash advances are limited to a maximum amount of $1,000.


What are the maximum loan amounts for installment loans and personal loans?

We offer installment loans and personal loans for amounts of: $1,000 to $5,000 and $5,000 to $15,000 accordingly.


How to apply for online loans?

To apply for online loans fill out this simple form, from office or home. Some lenders may ask to send the documents by fax, but this can be also managed online. If approved, funds are deposited via electronic transfer.


What are the lenders you are working with?

Direct Loans Lenders works with state-regulated, 100% legitimate lenders. We never deal with shady third-party loan brokers. It can be difficult to find a reliable lender online, so it’s better to use our service.


What are the basic requirements for a loan online?

  • US citizenship or permanent residence;
  • Be 18 years of age;
  • Have a checking account;
  • Stable and verifiable income.

Can I get a loan if I have bad credit?

Borrowers that are applying for payday loans, cash advances, and installment loans, don’t need good credit and may be approved fast. For personal loans, lenders perform a soft pull credit check and borrowers with low credit score may be declined. DirectLoansLenders works with many lenders and approval chances are high.


Do I need to put any collateral for a loan?

DirectLoansLenders offers payday loans, installment loans and personal loans that are unsecured and don’t require any collateral.


What is the APR for payday loans?

The APR or interest rate for payday loans depends on the lenders’ terms, and state laws. Short-term unsecured loans, like payday loans or cash advances, come at a very high interest rate up to 1386%. Review Rates and Fees for more examples.


What is the APR for personal loans?

Personal loans have a lower APR. You must verify the rates and terms before signing a loan agreement with connected lender.


How long does online loan approval take?

The loan decision is almost instant and takes about 5 minutes. The final loan approval by the lender may take from one hour up to one business day.


How can I get my loan?

If approved, the lender will deposit the funds to your bank account within one business day.


How to repay a loan?

Payday loans should be paid back in full, with all interest and fees, with the next paycheck. As for installment loans or personal loans, borrowers have months or even years to pay off the loan. Borrowers are obliged to pay fixed installments every month. The repayment schedule is disclosed in the loan agreement.


How can I use the borrowed money?

Way to use borrowed money.The lender will never ask what you need the money for. You may use it for any purpose. Payday and installment loans are used to cover urgent expenses. To consolidate debts, make a home improvement, pay for medical bills or buy a new car, use unsecured personal loans.


How does a loan affect my credit score?

Taking out a loan could repair or damage your credit rating. Paying off the loan on time will improve your credit rating. Late or non-payment will damage it and leave a negative mark on your credit report.


Is it possible to extend my payday loan?

When it comes to a payday loan extensions, laws and regulations tend to be very strict. Read this guide about Extended Payment Plan.


Can I pay off my loan earlier?

Paying off loans earlier is a good idea, because you may save money on interest! Our lenders will never charge you extra fees for early repayment!


Can I get a loan without a bank account?

No, an active bank account is required to qualify for online loans. Lenders will send money via electronic bank transfer.


Are there any hidden fees for using online loans?

All fees associated with the loan are disclosed in the terms and conditions of a loan agreement. There are no hidden costs or fees. Using DirectLoansLenders online service is also free of charge!


Is my personal information safe?

Your personal information is safe with us! We use the latest technologies to protect our clients’ data. Data transfers to lenders are protected and encrypted.


What are the benefits of getting loans through Direct Loans Lenders?

Here is a short list of benefits of taking loans through our company.

  • Save time by applying to numerous lenders in one place;
  • Straightforward application process;
  • Advanced customer support;
  • Complete information about responsible borrowing and lending;
  • Information on state restrictions;

Direct Loans Lenders Org can maximize your approval chances. If you had problems with getting loans in the past, most likely we can help!