A few years ago, most people looking for a quick loan in an emergency or a loan that serves them despite bad credit scores, had not many options. The payday loan acted as a go-to solution for such borrowers. Today, however, select direct lenders such as us at CashUSAToday, offer installment loans that can feature instant approvals depending upon your income, and hence, your credit score doesn’t impact the loan decision. Such loans can be ideal for emergency borrowing as well as those who look for loans while suffering from a bad credit history.
How does the Instant Approval of your Installment Loan work?
At CashUSAToday, we have built years of trust through ensuring the safety and satisfaction of our borrowers. While offering an instant approval of installment loans helps us satisfy the needs of the consumer, there are basic verifications that need to be done to ensure an acceptable level of safety within any lending transaction.
Once the verification of:
- The authenticity of the information and documents provided during your loan application, and
- Your eligibility for a loan from our service
Is completed, we provide instant approval for an installment to you, if both the above verifications have a positive result.
Short Term Installment Loans for Bad Credit are Safe when Based on Income
Traditionally, the approval of a personal loan is strongly dependent upon a borrower’s credit score. In an ideal scenario, this is a good practice – the credit score and history are designed to reveal a lot of information that helps a loan lender understand the borrower’s behavior and tendency to repay credit. However, in reality, credit reports often feature errors and inaccuracies.
Apart from errors and inaccuracies, the other limitation that credit scores have, is that they do not get impacted by an individual’s income. Many experts agree that when referring to a short-term loan and the ability of an individual to repay such a loan, the income is a stronger indicator and bears much more relevance than a credit score.
Keeping this in mind and in order to accommodate bad credit borrowers, providing a short-term solution for the needs of a larger subset of individuals, we offer short-term installment loans, the approvals of which are primarily based upon the income of the individuals.
Instant Approval Installment Loans for Emergency Use
As discussed in the introduction of this article, many borrowers choose loans like ours when they need financial support during emergencies, such as medical exigencies, vehicle breakdowns, etc. Loans like what we offer, that provide instant approvals are indeed ideal for such uses because:
- They feature a high rate of approval – typically we approve above 90% of the loan applications we receive each season
- Most people are eligible for loans that have very basic qualification requirements
- These loans are available through a fully online process that can be accessed from anywhere at any time
- A borrower need not wait too long for the much-needed funds – these loans are quick at not just providing approvals but also at depositing funds once the loan offer is accepted.
What Advantages do Online Installment Loans from CashUSAToday Offer?
At CashUSAToday, we are a provider of online installment loans and our loans have many advantages to offer. Amongst the advantages we offer, here are what our customer feedback helps us understand as the most valuable to them:
- The application process is fully online and needs no paperwork or faxing
- Since the loan application is fully online, one can access it from anywhere and at anytime
- We provide instant approvals post verification to ensure a fair margin of safety
- We maintain a high approval rate which directly translates to high chances of getting a loan
- Bad credit scores are accepted and previously rejected borrowers are welcome to apply for loans
- We conduct no credit checks from any of the major credit tracking agencies
- All terms and conditions are transparently featured in our loan offers
- Direct deposits are done once the loan offer is agreed to.
Get an Installment Loan with an Instant Approval Now
If you’re looking for an installment loan that provides instant approval, choosing our online loan that offers all the aforementioned advantages, could be a great choice. Simply head to the loan application and you shall be connected to our team for a quick and convenient loan process.