Do you need money urgently?
Perhaps your rent is late, and your landlord is threatening to evict you. Or your car just broke down, and you need money to pay for repairs. Or you’re ill and need to buy medication or go to the emergency room.
If you don’t have some cash saved up, you’re certainly looking at ways to get money quickly. One of your best options is to get a quick loan. A title loan at Titlelo could also be a short-term option for your financial trouble for an emergency. It’s quick cash for borrowers with poor or no credit if you qualify.
Unfortunately, the lending process is unpredictable. You don’t really know how quickly you can get the money or even where to borrow in an emergency unless you do some research and prepare ahead of time. The good news is there are things you can do to improve your chances of getting approved quickly.
Here’s a guide:
1. Know the Amount of Money You Need
Do you know the exact amount of money you need to borrow?
If you’re anything like most borrowers who need a quick loan, you certainly don’t know. You just have a rough estimate of what you’d like to borrow and do some research on various quick loans.
Well, if you want to get your loan approved quickly, it’s essential to know the amount of money you need. This will not only make filling out the application form easier but also help you ensure you’re borrowing an amount that is within your ability to repay.
You don’t want to waste time debating whether you need $1,000 or $2,000 at the application stage.
You also want to borrow money that you can repay. If you borrow $5,000, and your current income won’t allow you to repay it, the application will be rejected. But when you submit an application and the amount you’ve borrowed is well within your means, a quick approval is almost guaranteed.
2. Know Your Credit Score
Lenders have different credit score requirements.
When you know your credit score, it’s easy to choose a lender whose credit requirements aren’t prohibitive. For example, if your credit score is 650, you’ll apply to lenders who need a credit score of at least 650. If you make an application to a lender who needs a credit score of 700, you’ll only be waiting for a rejection.
If you don’t know your credit score, request a copy of your credit report. If your credit score isn’t that great, you could work with one of the good credit repair companies out there to rebuild your credit, which should then mean that you will be able to get the loan that you need at a better interest rate.
3. Identify a Suitable Lender
When you want a quick loan, you don’t want to waste your time applying to a lender who is not likely to lend money to you.
This is why it’s super important to identify a suitable lender. With the internet, it’s possible to research various lenders and find one who suits your needs.
You should especially pay attention to lenders who offer same day loans. When you apply to such a lender and your application is confirmed, at least you’ll rest assured of getting the money in your account before the end of that day.
It’s Possible to Get a Quick Loan
Sometimes you just want to get a quick loan. Whether you’re borrowing from family or a commercial lender, there are steps you need to take to ensure you get the money as soon as possible. This guide has given you tips that’ll help you.
All the best and keep reading our blog for more money tips.