What Are Direct Lender Installment Loans?
Essentially, direct lender installment loans are the installment loans you get from a direct lender. You can get a specific sum of money and repay it over a specified period. Like any other installment loan, you will make monthly payments. The advantage of these loans is that they don’t strain your budget since you can repay the money over a long period.
Why Do People Choose Direct Lenders for Installment Loans?
Direct lenders are usually a preferred choice by most borrowers because of the following reasons:
Easy and Fast Application
Most direct lenders strive to provide competitive ways of accessing their loan services. One way of doing this is by ensuring the loaning process is simple and fast. You can submit your loan details in minutes and wait for approval from top lenders.
Quick Approval Process
Besides following a simple process to submit your loan details, the approval process is fast. Direct lenders don’t have to consult with third parties to determine whether to offer you a loan or not. Consequently, the decision-making process is fast. This allows for a quick approval process.
Less Strict Credit Requirements
Direct lenders consider all credit types. Therefore, you don’t need to have a good credit score to secure a loan from direct lenders. Most of them are lenient and will offer loans even with bad credit.
Manageable Monthly Payments
Installment loans allow you to repay the loan monthly over a specified period. Getting such loans from direct lenders makes it easier for you to manage to repay your loan. This won’t put a strain on your monthly budget payments.
Can I Get Installment Loans From Direct Lenders Online?
Yes. Many direct lenders offer installment loans over the internet nowadays. This means you can submit an application form and receive the funds from the comfort of your home or office. Many borrowers opt for online installment loans due to their convenience and accessibility. If you find it hard to shop around for the best deal, you can turn to an online broker for help.
CocoLoan is such a broker! With us, it’s pretty simple to get an installment loan online. Everything is processed on the internet. You only need to fill out a loan form from any device as long as it is connected to the internet. The benefit of these loans is that they are accessible and convenient since you can apply them from anywhere.
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Can I Get Installment Loans for Bad Credit?
You might be curious about getting an installment loan with bad credit. The truth is that there are various options to turn to before you know the right doors to knock on. Some direct lenders can work with you even with your poor credit ratings.
Usually, these lenders will consider other factors to determine whether you can repay the loan, such as your current income, personal circumstances, and debt-to-income ratio. Although interest rates might be higher for bad credit loans, they make sense if you can free yourself from financial issues.
Alternatively, you can choose to deal with us. It might take you some time to pick out a reputable lender for bad credit online. To save you from trouble, you can rely on our services. We can connect you to our extensive network of reliable lenders you can trust to deliver.
Three Steps to Get Installment Loan With CocoLoan
Here’s a simple process you need to follow to get a loan through CocoLoan.
Submit Your Details
Fill out a loan form on our platform and provide us with your details. Ensure you provide the correct details to help lenders determine your eligibility.
Choose an Offer
Lenders will send you multiple offers for your comparison. Take your time to choose a lender based on their interest rates, monthly payments, fees, and other factors.
Get Your Money
Once you’ve picked an offer and signed a loan agreement, money will be credited to your account within the same day or the following business day.
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Why Is CocoLoan Your Top Choice?
So, why choose us to assist you to find a direct lender to offer you an installment loan?
Partner with Leading Lenders
CocoLoan partners with more than 100 industry-leading lenders to ensure that you can quickly find a lender that meets your financial needs. Our panel of lenders is committed to offering reliable financial assistance when you need it the most.
No Hidden Charges
We work with trustworthy and honest lenders. All the loan details are made transparent to help you make smart choices about your loans. You won’t receive any surprising charges once you decide to work with a specific lender.
Transparent Lending Service
At Cocoloan, we believe you deserve to know your lender before working with them. Therefore, we’re committed to working with only the lenders you can trust. Our partner lenders will offer transparent services right from the word go. You should feel comfortable signing any loan documents.
High Approval Rate
Since we partner with many online lenders, you stand a better chance of getting an installment loan. Plus, most lenders offer bad credit loans, making it easier for you to also get a loan even with bad credit.
