Overreaction to the sub-prime housing crisis has caused many lenders to pull back from offering loans at a time when consumers need them the most.
(PRWEB) January 29, 2012
BadCreditInstallmentLoans.com announces the launch of its redesigned consumer-lending site, featuring a sleek, new user-interface and simplified online application. While the nation’s job market remains anemic, the need for payday loans and cash advances continues to grow. The updated website provides a no-cost online loan-application service designed to help consumers with lower credit scores, now making it even easier to apply and be pre-approved for loans of $100 - $1,500. The entire process — from application through fund disbursement — can now be accomplished from the privacy of a home computer.
“Overreaction to the sub-prime housing crisis has caused many lenders to pull back from offering loans at a time when consumers need them the most,” stated company spokesperson Oliver Braxton. “Our new site fills a void for working people, helping them access the kind of short-term loans needed to pay for a necessary vehicle repair or put food on the family table.”
At the new Bad Credit Installment Loans website, an applicant’s past isn’t an issue. Instead of a credit-history evaluation, the site requires only minimal qualifications such as age (18 years old or older); United States citizenship or legal residency; a checking account in the borrower’s name; as well as home and work contact information. The borrower’s regular paycheck serves as the loan’s security, requiring applicants to be employed for at least 90 days while earning a minimum of $1,000/mo.
The company doesn’t inquire into why its customers are requesting loans; instead, it works to match prospective borrowers with lenders in their area through proprietary software. Lenders compete for the borrower’s business via an online marketplace, giving the advantage to the consumer in finding the best loan rates and terms. There’s no cost to the borrower to submit an online application, and they are free to halt the process at any time without obligation.
The updated website provides faster turnaround times — most borrowers with steady employment can be approved in minutes, and after e-signing the lender’s contract, they can receive their loan funds within 24 hours via direct deposit.