A quick money loan can be a great way to get out of trouble. While these services are best used for emergencies, what most have in common is an app. As such, it would be wise to do your due diligence before signing up with a lender. Luckily for you, we’ve done the homework on our behalf, and are bringing you an article explaining how to choose the best landing app.
With all that said, let’s start.
1. Check Their Credentials
A money lending company with an app doesn’t mean you’re doing business with a certified lender. So the first tip we’ll give you is to check the company’s credentials.
This tip will be a part of a process that helps you familiarize yourself with the lender. Since lenders go through a process to get to know you better, why not do the same? To check the credentials of the money lending app, you have to check the credentials of the company that owns the application.
As such, look for companies that are registered with the relevant authorities. This information will most likely be displayed somewhere on their website. If a lender has an app, they will most likely have a website. This becomes important as knowing the lender will help protect you from any shady practices.
2. Check Their Reviews
No doubt the app will be on the Play Store or App Store, or both. In that case, it wouldn’t hurt to perform one of the simplest things possible – check the reviews.
Dissatisfied people will have plenty to say about a shady app. It’s your job and duty to check the reviews that previous customers leave on the App Store or Google Play Store to understand the issues that most customers face.
If customers say the app is bad and shady, then chances are you wouldn’t sign up with it. If the reviews are positive and all the comments are encouraging, then you have potentially found the best money lending app.
This tip is so simple that everyone should do it. It takes no effort to read reviews and come to a conclusion whether or not certain money lending apps are up to standard.
3. Check Their Website
A lender’s website might not be the place to apply for a quick loan, but it is the place to go to learn all sorts of things about the lender. A simple website URL check can tell you plenty about the lender.
If they’re not shady and are indeed professional, then the lender’s website will be secure. An example of how any website should look is by having an HTTPS:// before the website name. If the website doesn’t have this, then it could be potentially dangerous to sign up with them.
The reason why that’s the case is simple. An HTTPS extension means that the website utilizes the standard security protocols to protect your data from cybercriminals.
So if you’re looking for one of the best money lending apps, you could go directly to review sites that tell you all there is to know about the lender. For that, make sure to visit ustatesloans.org.
4. Check Their Fees
Fees become an important topic of discussion considering quick payday loans. The reason why you should pay attention to this one is that fees can quickly cripple you when taking a quick loan.
Lenders use all kinds of shady practices to make sure you’re on their books for a long time. Legit lenders make it easy to pay off your loan. So how do you check their fees?
Most shady lenders will hide the fees regardless of how much research you’ve done. Hidden fees are scummy practices that are used by shady lenders to extort lots of money off you.
Transparency is essential. So it should be your goal to find a transparent money lender that doesn’t use their app to scam customers. Transparency is so important that you should never take out a loan with a money lending app if they’re not clear about it.
Without transparency, things can quickly spiral out of control. If you miss a single payment, you might be met with harsh penalties that can quickly suffocate you. This will make it impossible to pay off the loan and put you in even bigger financial difficulties.
5. Check How Fast You Can Have the Money
Hard money lenders are different from other types of money lenders. Most hard money lenders will tell you through the app that the process might take anywhere between a week and two weeks to finish.
This is certainly not ideal. In that case, you might be better off finding a better app. Luckily, there are some apps that can process the loan as quickly as one to three business days. But that doesn’t mean you should jump and do business with the app. Think of everything we previously said and come to a conclusion. It’s important to protect yourself when taking out a quick loan from a lending app. The best money lending apps make it easy for you to take out a loan, are fully transparent, and don’t cripple you with fees.
They are flexible and work for you, not the other way around. That doesn’t give you all the freedom in the world to avoid responsibility. Quick money loans are meant to be paid off within a month. So don’t make a habit to wait too much. Even the most respectable quick money lenders know that if you wait too much, you could pay even more fees.
But what’s important is to use the money only for emergencies. Most people take quick money loans due to medical emergencies, car repair, and anything similar.
Pay Off Your Loan
Paying off your loan becomes a necessity when using an app for a quick money loan. Taking all the before-mentioned reasons into account, late payment fees can quickly cripple you. So don’t be irresponsible and pay off your loan regardless of what money lending app you’re going with.