How To Find An Online Payday Loan From A Reputable Lender
If you’re planning on taking out an online payday loan, you’ll have plenty of lenders to choose from when you search online. But, unfortunately, not all of these lenders deserve your trust and business. The good news, however, is that even though scam lenders are on the rise, spotting them is quite simple if you know exactly what red flags to look for. Below you will find a few effective tips that will help you identify a reputable company.
Check Out Three Ways To Find A Reputable Lender
1. Look At The Company’s Online Footprint
The first indication of a reputable lender includes customer reviews and any news stories. If the lender has been part of a negative news story, then the company automatically deserves a ‘no’ from you. If you haven’t managed to find any online reviews, this doesn’t necessarily mean that the lender is a scam, but it’s definitely suspicious. When looking for reviews, focus on Google reviews or even on the lender’s own website.
2. Check Whether The Business Is Registered In Your State Or Not
Lenders must register in the states where they’re planning on conducting business. That’s why on the website of a legitimate company, you’ll typically see a list of states where they are allowed to offer loans. You might also want to use the Better Business Bureau and the Consumer Finance Protection Bureau to find out more information about the lender. If the company is legitimately registered, the BBB will provide customer reviews and complaints and a rating of the lender’s reputation.
3. Assess The Company’s Website
As you’re looking for an online payday loan, you will most likely be providing personal information through the lender’s website in some way. Before you do that, ensure that the loan lender takes the security of the client's data seriously – which all reputable companies should be doing. Make sure that the website’s address starts with an ‘https’ and that there is a padlock sign before the name of the URL. Also check for the contact information and the address of the physical store on the website.
5 Tell-Tale Signs That The Lender Is Not Legitimate
Now that you know the three signs to look for when looking for a reputable lender of an online payday loan, there’s more you should know. You need to know specific tell-tale signs that show you that the lender you are going with is not legitimate. These five signs will automatically let you know that the lender is someone you should stay away from. If you ignore these signs, you could be walking into a scam or at least a company that isn’t exactly on the up and up. Here are the signs to look for:
- The lender demands payment upfront – though some legit lenders may charge a fee for a credit report or appraisal, the charges will be deducted from the loan amount, in such a case.
- The lender is pressuring you – if the company immediately gave you a deadline because ‘the offer for the loan will expire’, then it’s a scam. No one should pressure you to make a decision on either taking the loan or not.
- The representatives are not ready to answer any of your questions – a reputable lender would explain everything in great detail and be sure to answer any of your lasting questions that you may have.
- The representative is telling you to sign a blank form – any forms you sign should say the same information that the lender tells you in person. These papers are there for you to look at when you are unsure of any of your loan terms.
- The lender is asking you to lie on your application form (indicate that your income is higher than it actually is and so on).
Why Choose Cash Cow?
There are a few reasons why you might decide to get an online payday loan from us at Cash Cow. We are a reputable company with years of experience, hundreds of Google reviews, and a 4.9-star rating. There are several store locations throughout Louisiana for you to choose from, and all the stores are open six days a week for your convenience. Another benefit of working with us is that we help you avoid the hassles of a traditional bank loan.
You wouldn’t have to prepare a ton of documents – only your ID, pay stub, and a blank check from your checking account – and the in-person process can take just 30 minutes. Plus, if we determine that you qualify for approval, you may be able to get the money the next business day or even later the same day! We know how quickly you want to handle your emergency expenses, so we’ve tried to make the process as quick as possible.
Get Your Online Payday Loan Today!
Finding an online payday loan from a reputable lender might be tough simply because there are way too many loan scams out there. But don't worry – we have done all the difficult work for you. We here at Cash Cow are dedicated to helping you get emergency cash you need quickly. Once you come here, you will see we are a company you can trust! To get started on our simple process, simply fill out the online form now.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.