Deposit Loans is committed to providing prospective borrowers with relevant information about the lending process
(PRWEB) August 03, 2012
Deposit Loans announces the addition of a new “About Us” article to its website. The article explains the payday lending process and the many benefits of applying for a loan on the site. Payday loans are small, unsecured, short-term loans that customers can use to cover urgent expenses such as rent, medical care, car repairs and home repairs. The educational material shows people how to locate lenders in their area that can provide them with a loan that suits their needs. Customers can borrow a loan through Deposit Loans with no fees deducted by the company.
“Deposit Loans is committed to providing prospective borrowers with relevant information about the lending process,” says Deposit Loans spokesperson Wayne Garn. “The purpose of the article is to, by disclosing all pertinent details about our service, instill in consumers the confidence to apply for a payday loan on our website. In addition to information about lenders, the article discusses our security measures, maximum loan amounts and other important things people should know about payday loans.”
Borrowers are able to complete an application for a loan from Deposit Loans entirely online for maximum convenience, and once approved, can have their money deposited into their checking account within 24 hours. A variety of loan amounts are available to help individuals with emergency expenses. The numerous lenders that are affiliated with the company are required to provide borrowers with written details about loan origination fees and interest rates charged on their loans.
To apply for a payday loan customers must be at least 18 years of age, a U.S. citizen or legal resident, currently employed with at least 90 days on the job, and earn at least $1,000 a month after taxes. All applicants also must have a checking account in their own name, home and work phone numbers, and a valid email address. Additionally, neither a credit score nor collateral is required to qualify for assistance. Loans usually must be repaid on the borrower’s next payday and can be drafted directly from the borrower’s checking account on the loan payment date. If a customer cannot repay their loan on time, lenders may offer borrowers a loan extension or an installment plan.