Most of us are resigned to our fates as borrowers. Whether we want to go to school, start a business, or buy a house, we end up relying on financial assistance to help achieve our goals. Even if those goals are just paying all of the bills on time, a loan is an indispensable financial tool for most of the world. Even celebrities like Miles Teller still have student loans. But just because borrowing money is inevitable doesn’t mean you’re safe to choose any loan on the market.
In fact, many conventional lenders follow practices that make it difficult (if not impossible) to borrow the cash you need in time. As more Canadians turn to alternative sources for their loans, make sure you know how a payday lender can help you.
These companies hold 2 major benefits over conventional lenders. One is their convenience. Available both in-store and online, they’re a one-stop shop that makes it easy to borrow. They have sole control over every step of your cash advance from start to finish, so they don’t rely on other companies in order to float you the money. As a result, you only have to communicate with the one lender in order to apply for and repay your loan.
Unlike with major banks, you won’t have to schedule time-intensive meetings with several financial advisors as they determine your candidacy. That means you won’t have to take time out of your work day to speak with someone. If the only time you have available to apply is 2 a.m., then you can use their online application without any worry.
Another advantage to applying for a payday loan is its speed. Since they’ve eliminated the need to hold meetings or defer decision making to other companies, they have the power to approve your application quickly and release your cash faster than other lending options. In some cases, like when you contact the lenders at GoDay, you can receive word of your approval within 5 minutes and have the cash you need in just 24 hours. These lenders won’t waste any time because they know it’s of the essence when you’re dealing with immediate repairs or bills with upcoming due dates.
Though these are the overarching features that most small dollar lenders share, each will operate according to its own practices. It’s up to you to determine how they differ, taking the time to read up on their rates, terms, and condition while also making sure they have the appropriate accreditation.
One of the benefits of choosing GoDay over others includes their steadfast membership to the Canadian Consumer Finances Association (CCFA). The CCFA is a third-party organization that guarantees its lenders are following every federal and provincial lending law—which means you can trust GoDay and its fellow CCFA members to follow regulations in offering responsible and manageable options.
You may have to borrow several times in the near future, or you might only have to take out one loan to cover an accidental cash shortage. Regardless of how frequent you fill out your loan application, make sure you’re getting the right product for your needs. When you take the time to find a reasonable cash advance with rates, terms, and conditions you can handle, the fact that you’re borrowing money becomes nothing more than a smart financial decision.