We want our site to be a one-stop shop for people who are in need of extra funds between paychecks.
(PRWEB) March 03, 2012
MyPaydayLoans.com announces the addition of new educational resources explaining the payday loan process from application, through fund disbursement and final repayment. The new content, like the site’s online loan application, is available from the homepage and meant to help consumers who may be considering a short-term loan. MyPaydayLoans.com specializes in providing cash-strapped households access to a network of trusted lenders, using a simple online application form that can have borrowers pre-approved in minutes.
“We want our site to be a one-stop shop for people who are in need of extra funds between paychecks,” said company spokesperson Michael Vaughn. “Providing the right information is every bit as important as delivering fast access to our network of lenders.”
The site’s application for payday loans online, as well as the new educational content, is available without cost or obligation. To qualify, users must be citizens or permanent residents of the United States and age 18 or older. Providing proof of employment, contact information, and a checking account to receive loan funds are the basic requirements to be approved.
After a borrower is approved through the online application, he or she can choose from multiple loan offers to receive the best interest rate and repayment terms. The Truth in Lending Act ensures that all loan terms must be presented in writing before the borrower signs any loan agreement. Thanks to an easy e-signature form, borrowers can agree to the lender’s terms and receive the agreed-upon amount via direct deposit within one business day, and often within an hour. In addition, borrowers can set up an automatic repayment coinciding with their next paycheck, which eliminates the need to get a check in the mail on time or risk incurring late fees.
The site’s new educational content details the loan process further, along with providing tips on financial responsibility and the best uses of a payday loan. MyPaydayLoans.com is not a lender; instead, the site serves as a bridge between prospective borrowers and lenders who specialize in short-term loans.