What Are Direct Lender Payday Loans?
Direct lender payday loans refer to the payday loans you get from a direct lender. Typically, your lender should be licensed to provide financial assistance in your state. The lender you work with is solely responsible for reviewing and approving your loan based on your eligibility.
Online direct lenders are preferred since everything is handled over the internet. You don’t have to drive to physical stores to get your payday loan.
Why Do People Choose Direct Lenders for Payday Loans?
Payday loans offer the advantage of getting quick financial help when you need it the most. Most borrowers prefer working with direct lenders for these loans because of the following reasons:
Protect Your Information
Direct lenders ensure better protection of your information since you only work with a single party. This means that you won’t be moving from one lender to another. Your personal and financial data are kept safe, limiting the likelihood of landing in the wrong hands.
Reduce Customer Confusion
Working with other lending platforms only leads to confusion since you can’t be sure about who you’re actually dealing with. But with direct lenders, it’s easy to know the one you’re working with. Contacting a direct lender for support or any form of clarification is also easier.
Quick Application Review
Direct lenders don’t need to consult third parties to approve your payday loan request. Therefore, with fast approvals, you can be confident that you will immediately get the financial assistance you need.
Avoid Potential Spam
When you submit your payday loan details online, there is a chance you could be applying with a lead aggregator. Under this circumstance, your information could be shared with different lenders.
Even though lenders cannot contact you until they have purchased the lead information, some websites may get in touch with you anyway – which may flood your email inbox with spam messages. The best way to avoid these junk emails is by working with a direct lender only. As such, your details are kept private, minimizing the likelihood of getting hoaxed.
Is CocoLoan a Direct Lender?
CocoLoan is not a direct lender. We are a broker who partners with reliable direct lenders with a proven track record in offering payday loans and other loan types. Here are some of the perks of choosing to work with us:
Convenient Lending Services
Our partner lenders are always available and can provide you with loans right from the comfort of your home. You only need to be connected to the internet to request a loan from our secure platform.
Industry-Leading Lenders
We work with reputable online lenders. Hence, you can be sure you will be dealing with professionals that understand your urgent need for quick funding.
Simple Lending Process
Getting a payday loan through CocoLoan is very easy. Just spend a few minutes filling out the online form and we will do the rest to enable you to secure the loan you need.
Quick Funding
Most clients who work with us get their funds within the same day. Some lenders are fast and can credit your bank account within minutes.
How Does CocoLoan Compare
 | Why Trust CocoLoan? | |
|---|---|---|
| How much can you get? | $50 to $35,000 | Zero upfront charges |
| What are the loan terms? | 1 - 36 months | Easy repayment |
| Are credit checks needed? | Yes | Mostly soft pulls |
| Are bad credit accepted? | Yes | All credit considered |
| How to apply? | Totally online | Simple and straightforward |
How Can CocoLoan Find Me Payday Loans Online?
Why go through all the burden of trying your luck from one lender after another? It’s also tiring to drive to physical locations only to request a loan. Instead, CocoLoan can help you find a trustworthy lender by simply following these steps:
- Submit Basic Details: Fill out your personal and financial details through our platform. Your information is kept private, so you don’t have to worry about the safety of your data.
- Get Multiple Quotes: Lenders will quickly review your request and send their offers for you to compare. You should take your time to make a comparison based on their lending rates, lender’s profile, and other details.
- Sign the Loan Agreement: After selecting a specific offer, your lender will present you with a loan agreement. Ensure you read through the fine script to confirm that you consent to the lender’s terms and conditions. Only sign the e-document when you’re satisfied with the requirements.
- Get Your Funds: After signing the loan agreement, money will be credited to your account within the same day or the following business day.
How much would you like to borrow?
What to Look for When Comparing Direct Payday Loan Lenders?
You must do your homework when comparing options for a good lender for your payday loans. Vital factors to consider include:
Online Reputation
Ensure you check what other clients say about the lender you want to work with. Check reviews from trusted sources. Choose a direct lender with a stellar record. You should also go through negative reviews to ensure you get the whole picture of the provider.
Rates & Terms
Take your time to review the lender’s rates and terms. Reputable lenders should have all these details clearly spelled out. Your goal here is to ensure you meet the provider’s requirements before choosing to work with them.
State License
Confirm that the lender can operate within your state. Some providers are restricted from offering financial assistance to specific states. After confirming everything is okay, you can proceed to accept an offer from the lender of your choice.
