Direct Lender vs.
Non-Direct
Non-Direct
Direct lenders manage the entire payday loan process – from beginning to end. They will process your application, fund your loan and take your payment.
With so many lenders all promising to be the best, it’s easy to get overwhelmed when searching for an online payday loan. To help you stay sane in your search for the right lender, we’ve outlined the differences between direct lenders and the other types of lenders.
Direct Lender
- Collects Personal Information
- Processes Application
- Funds Loan
- Processes Payment
Credit Service Organization and Credit Access Businesses
- Collects Personal Information
- Processes Application
- Funds Loan
- Processes Payment
Lead Generators
- Collects Personal Information
- Processes Application
- Funds Loan
- Processes Payment
Select your state to see loans and amounts.
Why use a Direct Lender?
PROTECT YOUR INFORMATION
If you apply for a payday loan on a website that is not a direct lender, your personal information could bounce from lender to lender. The more your information bounces around, the more likely it is to get in the hands of someone you don’t want it to. If you apply with a direct lender, your personal information will stay with that lender, limiting your chances of identity theft.
AVOID CUSTOMER SERVICE CONFUSION
If you apply on a site that isn’t a direct lender, it can be confusing as to who you need to contact for what. With a direct lender, all of your questions and loan inquiries are handled with a single company. No need to hunt down contact information for multiple websites.
Quick Application Review
Since you are applying directly with the lender, you will typically receive a quicker lending decision since they are both reviewing your application information and providing you with a decision.
Receive Less Spam
When you apply for a payday loan online, there is a chance you could be applying with a lead aggregator. When this happens, your information could be presented to several different lenders / websites. Even though lenders cannot legally communicate with you until they have purchased the lead information, some websites may contact you anyway – which can flood your email inbox. CAUTION! Sometimes these junk emails may include false pre-approvals or verbiage that makes you think you may already be approved. Be sure to review these emails carefully before acting on them.
Getting to know Direct Lenders
When you apply for a loan with direct lenders, you are applying directly with them meaning they will process your application, fund approved loans, and process loan payments. So from the beginning to the end of your loan, you will deal with the lender and only the lender.
The most important thing in finding a lender is to do your research. Some things you may want to consider include:
Online Reputation
Search for reviews online. Check out sites like Consumer Affairs and Trustpilot. If the lender has less than a 4-star rating, you may want to reconsider. It might make sense to review more than just the star ratings – what are their customers saying within the reviews?
Clear rates & terms
Direct lenders should clearly state the rates and terms for the loans they offer. Be sure to clearly review this information to make sure you can afford the payments, and fully understand what to expect with the loan.
State license
Some states do not require licenses to offer payday loans, but some states do. Do some research online to understand if your state requires the lender to have a license. If so, then make sure the license is posted on the lender's website.
The easiest way to describe a payday loans direct lender might be to explain what a non-direct lender is: A non-direct lender will collect your application information, but they will not provide you with a lending decision. Instead, they will send your information to a lender (or lenders). In some instances, your application information may be shared with several lenders – which is not the best to have your personal information bouncing all around the internet.
Payday Loans from Speedy Cash
When you apply for a loan from Speedy Cash, you're borrowing directly* from us.
