Direct Personal Loans

All Credits Welcome!

If you have a bad credit score, then don’t worry – it’s not an issue for us!

TGL Loan Services

You can get your money fast after filling out the simple form on the "Get Started" page! Lenders cannot guarantee the approval, but they could approve your loans, even if you are unemployed, receiving government benefits.

Fast Money In Your Bank

You can get your money within hours after filling out the form! We work 24/7 for you!
  • This form is protected with secure 256-bit SSL encryption
  • By clicking “Get Started”, I consent and agree to the Privacy Policy and Terms of Use.

Maybe you don’t have a bank account. Maybe credit cards and home mortgages are something for someone else, not you. But that doesn’t mean you can’t get access to credit. You can look for direct personal loans.

Direct Personal Loans

What Are Direct Personal Loans?

Direct personal loans are unsecured loans made by the lender, not a bank. These are Real Payday Loans Lenders who make their funds available directly to you without an intermediary.

One of the benefits is that cutting out the middle man reduces costs, so these are relatively Cheap Payday Loans. The terms will be more favorable than if you have added a bunch of layers of people to the process, each of whom will take their cut.

But It’s Saturday. Can I Get A Direct Personal Loan Today?

Yes, you can! Thanks to the internet, Weekend Payday Loans are more available than ever, even if you don’t have a bank account. You may still be able to get the funds deposited to a pre-paid debit card instead of wired to a checking account.

Online loans can be applied for any time of the day or night and you may be able to get funds in as little as an hour. The convenience of modern life is practically magic compared to what was available a few decades ago when you had to go in person to a bank or physical payday loan establishment.

What Are The Terms Of A Direct Loan?

The main terms of a direct loan are:

  • the borrower is offered a loan for a specific period, say up to 1 year or longer. These loans may be secured or unsecured. In the latter case, the borrower is required to post collateral to guarantee repayment of funds;
  • the lender agrees to lend money at an annual interest rate;
  • the borrower pays back the loan with monthly installments, depending on how much he can afford; and:
  • repayments can be skipped in case of emergencies and other unforeseen circumstances (trouble in one’s job, unexpected medical expenses, etc.). However, this may impose penalties such as high-interest rates when it is time for renewal.

Pros Of Direct Personal Loans

  • Short-term loans are advantageous to individuals who need money for a period of 1 year or less. Lending institutions offer financial solutions suited for this kind of loan. These loans are regarded as easier to get, with faster processing time and lesser paperwork, compared to long-term loans. This is due to the fact that short-term loans are secured by one’s collateral or other security instruments, which makes it easier for lenders to get their money back when the borrower fails to pay it back on time.
  • Apart from being secured by collateral, short-term loans have other advantages. They are easier to get. The process, once approved, goes faster and is more streamlined compared to long-term loans. This means quicker processing time and lesser paperwork compared to long-term loans. Therefore, short-term loans are more convenient since they enable you to provide funds for your needs right away, without waiting for the approval of a long-term loan. In addition, lending institutions may put less pressure on borrowers compared to long-term loans, given that they get their money after one year or shorter depending on the lender’s terms and conditions.
  • Short-term loans can be cheaper. Borrowers should know that short-term loans are usually more affordable than long-term loans. The reason is that short-term loans are secured by collateral or other security instruments. However, this does not apply to all lenders, which may offer less competitive interest rates compared to those offered by other lending institutions.
  • With short-term loans, you do not have to wait for a long period of time for your money to be released. Once you are approved, you get the loan immediately after the processing time is finished. Since the process is fast, you can avail it before your funds are exhausted.

Cons Of Direct Personal Loans

  • The process of applying for a short-term loan is longer compared to long-term loans. This translates to paperwork and waiting time. Since there are numerous lenders who offer short-term loans, borrowers have the choice to choose the most convenient one according to their needs. More so, since there is a wide variety of these types of loans, it becomes harder for borrowers to select the one that suits them best. This translates into a longer processing time, which is highly inconvenient when you need money right away. In addition, processing time also depends on the lender from whom you will receive your funds. The longer it takes, the less convenient it becomes.
  • With short-term loans, renewal becomes a challenge due to the fact that you will be back to square one with your paperwork and other requirements. This can be a challenge, especially when your financial circumstances have changed. What is more annoying is that you have to go through the same process again if you want a loan with a different lender. This can get tedious compared to long-term loans, which only require one round of application and acceptance before the release of the money.
  • If your credit score is not high enough, lenders may give you a hard time in getting approved for their short-term loans.
  • Short-term loans may require a collateral or security instrument. If you do not have any, your chances of getting a loan are very limited. In the latter case, you may face higher interest rates compared to those offered by other lenders. This can make it harder for you to get approved for a short-term loan because lenders do not know how reliable your income is when they see that you do not have enough funds to repay on time.

How To Get A Direct Personal Loan

Personal loans are available through several lending institutions. These include banks, credit unions, non-bank finance companies, finance companies, and other financial firms. Small financial institutions are the main sources of short-term loans. Banks are also one of the main sources of medium-term loans, while credit unions are one of the main sources of long-term loans.

Borrowers can get qualified for short-term personal loans through individual or business bank accounts. They need only to visit their nearest lending institution that offers personal and small business loans and submit an application for a loan. They will then process the same within a few days or up to a week, depending on the lender with whom they conduct business.

How To Apply For A Direct Personal Loan

The application process is usually simple. However, there are times when it can be tedious and time-consuming. Applicants must provide details on their income sources, ID including their last three months of pay stubs and tax returns. They also submit personal financial statements, bank account info, and other documents that may not be essential but may help the lender assess the borrower’s creditworthiness.

They will then forward this information to underwriters, who will then assess the creditworthiness of the borrower. If they approve the loan proposal, they will issue an approval letter which is called a loan pre-approval letter.

What Do I Need To Qualify For Online Loans Without A Bank Account?

Like any loans, direct personal loans are available to legal adults who are citizens or legal residents of the US. You will need legal identification, such as:

  • A driver’s license.
  • State-issued ID card.
  • College ID card.
  • Tribal ID card.

You will also need to provide proof of income, such as a recent pay stub. If you don’t have a bank account, you will need a pre-paid debit card available so the funds can be transferred to you.

If this is your first time applying for an online loan without a bank account, you may need a little extra time to arrange a pre-paid card. But once you know the routine and have all the details worked out, any future loans may take out should go more smoothly.

Where Can I Get Direct Personal Loans?

You can start your search right here. TheGuaranteedLoans is a loan clearinghouse. We connect people like you to the financial products you need.

We don’t lend money. Instead, we keep a database of lenders and their financial products. We take your information and check it against our files. When we find a match, we notify the lender who will contact you to complete the process.

You will work directly with them after that. The only thing we do is help you find them so it’s quicker and easier to get what you need.

FAQ

How are APRs determined for personal loans?

APRs, or annual percentage rates, are used to compare loans from different lenders. Since APR is a widely used figure in the lending industry, it has become customary for financial institutions and regulators to use the same number when calculating interest rates. The APR is calculated in a way that helps consumers compare how much interest they will be paying in a year and the total amount of interest they pay over time. 
To understand APRs better, charging an APR of $20 on $100 leaves you with $120 at the end of two years while charging an APR of $1,000 on $100 leaves you with just $51.85 after two years because your loan amounts decrease over time.

What fees should I look out for when choosing a personal loan?

There are many fees associated with a personal loan. While some of them could be considered to be unavoidable, other fees could be either worth the extra money or not, depending on the lender and the type of loan.

What can I use a personal loan for?

Personal loans can be used for a variety of purposes. One of the main reasons for taking out a personal loan is to finance a major expense in your life. This could include a wedding, a new home, a new vehicle, or consolidating debt. Personal loans can also be used to make an investment in your future through education or paying off credit cards or other loans.