It has been a difficult month for many Americans, with the pandemic sweeping the country. And while it seems that payday loans are no longer an option for those who need quick cash, what about other forms of credit? The Federal Reserve reports that credit card use has increased by more than 5% since the first week of August. This number is expected to continue to rise as more people find themselves in financial difficulty during this time of crisis.
How to apply for your first personal loan?
It is easy to apply for a payday loan 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 your 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 cash, whether by ACH transfer or direct deposit, whichever method works best for you!
All in all, if you are looking for quick access to cash in this time of pandemic crisis, applying for a payday loan online could provide you with exactly what you need to get 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 have ended, the volume is increasing again.
Why should you get a payday loan instead of credit card debt or other types of loans?
Credit cards are limited to specific stores, which means buying generic products becomes difficult. Also, if in doubt about your ability to pay it off immediately, expect large fees and high interest rates on top of the original balance.
Payday loans provide quick, no-questions-asked access to money for those who have been affected by the pandemic in one way or another, but still have a stable income in their household – even if they are. they don’t have a job right now! Best part? You can take out a payday loan and pay it off later, even after the pandemic is over!
What is a pandemic prepared company?
Businesses are susceptible to the pandemic just like individuals, but they are at additional risk of losing money. If your employees cannot come to work due to illness or quarantine, you are not making money! That’s why it’s important for profit-conscious businesses in this time of crisis that they take action now to protect themselves from future losses.
Business owners can prepare for a pandemic by registering with payday loan companies online, giving them access to on-demand cash when credit cards and other forms of financing are difficult or even impossible, due to widespread infection rates.
Another option? Consider adding pandemic preparedness insurance coverage in addition to your traditional insurance policy. This protects your business from financial losses due to the pandemic, such as downtime, missed income, and increased cleanup expenses. And because it’s an endorsement to your existing policy, you won’t need any additional underwriting or approval, which means this insurance coverage can be added relatively easily!
How to get a personal loan?
To qualify for a payday loan, you need a stable income, an open checking account, and no ongoing credit issues. Additionally, if your bank account has been frozen or closed due to suspected pandemic fraud or theft, you may not be eligible – meaning the only way forward is to use a traditional form of financing such as a line of credit activity.
Why Should You Use Payday Loans If You Are Prepared For A Pandemic?
If your employees cannot come to work due to illness or quarantine, you are not making money! That’s why it’s important for profit-conscious businesses in this time of crisis that they take action now to protect themselves from future losses.
Business owners can prepare for a pandemic by registering with payday loan companies online, giving them access to on-demand cash when credit cards and other forms of financing are difficult or even impossible, due to infection rates.
Payday loans provide quick access to cash without having to go through a thorough application or approval process; they’re perfect 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 may be higher than traditional funding sources like commercial lines of credit and bank loans, when you consider the alternative (i.e. no money), that seems like a small price to pay!
Another great advantage of using payday loans is that they do not require you to have collateral or great credit. Instead, these loans are based on your ability to repay the loan instead of your payment history – which means if you’re ready for a pandemic and need quick access to cash now that is definitely an option to consider!