How does a direct payday loan no third party lender work?

loans without a bank account (photo credit: PR)
loans without a bank account
(photo credit: PR)
When you need cash and need it fast, you want to be able to submit your application and get an instant decision. If you’re in a crunch, you don’t have time to wait days for decisions and multiple requests for more information. If it is a payday loan that you need, chances are you are in a bind and don’t want to go through all of that. That’s where direct payday lenders no third party companies come in; you get a quicker application process and the funds you need fast.
What is a direct payday loan no third party lender?
These companies provide the funds you need when you need it without third party involvement. A direct payday loan no third party lender is a lender who specializes in short term loans. You have the benefit of working with a lender that has no third party involvement, which means that you get a more efficient application experience and quicker decisions. Since their process is managed completely in house, the lender has the option of being more flexible when managing your application process. The lender services their loans completely in house; this means that you don’t have to worry about your information being passed back and forth across multiple lenders. All payments are made directly through the lender because they service their loans. These lenders don’t conduct credit checks. 
How do direct lenders work?
Direct lenders with no third party involvement service the loan. They manage both the application and the funding of the application process. They operate as the bank, so the entire process is managed directly through their entity. Your information can be sold to other parties if you are working with a lender who works with third parties. When there are no third parties involved, you are guaranteed greater confidentiality. These lenders are able to deliver the funds quickly because they handle all of the funding internally. They can generally issue a decision in a matter of minutes and same-day funding. With no collateral, you can qualify for a loan depending on your earnings. 
Who qualifies for a direct payday loan?
You must be age 18 or older to borrow for a payday loan. You will have to have a regular checking account to process. You will have to provide proof of steady income for several months. You must be a US citizen to qualify for lending. Requests for valid contact information will also be required. You can qualify for a payday loan with imperfect credit. In fact, lenders work with people with bad credit frequently. 
How long does the application take?
The online application process typically takes minutes to complete. Since this is a direct lender working with no third parties, you get the response you need within minutes. Once the loan has been approved, the funds are direct deposited electronically. 
When you need quick access to emergency funding, you need to work with a lender that will offer a streamlined application experience. A direct payday lenders no third party company services loans completely in-house, so you cut the wait time and paperwork. You get the funds you need within one day of being approved, and some decisions are made within minutes of submitting the application.