What are the bad credit loans?
These are loans specially designed to meet the urgent financial needs of borrowers with bad credit score, which makes it difficult for them to arrange for funds through conventional lenders. These loans are typically for short periods and are approved for up to $3000.
Do I need a bad credit score to qualify for the loan?
No. Anyone can apply as the credit score is not part of the qualifying criteria. As long as the borrower meets the other necessary parameters like being an American over 18 years of age, having a valid bank account and having a regular source of income, etc., he/ she can qualify for these loans.
How much can be approved?
It depends on a lot of factors, and the situation that pertains to the borrower. Under general circumstances, a loan for any value between $100 to up to $3000 can be approved. However, for regular customers, this amount can be increased too.
Do I need to use the funds for a certain purpose?
There is no such obligation from the lender. The borrower is free to apply and use the loan amount for anything that is most critical for them at that moment, like paying off any installments, bills or even going on a vacation. It is absolutely their own decision, basis their particular situation.
How soon can I get the approval?
The loan application takes only a few minutes to complete if you keep your basic personal and financial information handy. The loan approval happens in a matter of minutes, depending on the application timing and the business hours of the lender. The approved amount can be disbursed within one business day.
How soon do I to get the funds?
The lenders transfer the funds directly into the borrower’s bank accounts after the necessary formalities are completed. This process is normally completed within one business day if all the necessary formalities have been completed.
I do not have a fax machine, is it a prerequisite for applying?
Most lenders do not require you to fax any documents to them, unless there is a special requirement. Therefore, not having a fax machine should not be a deterrent in applying for loans through our website.
How much do you charge?
Okaycreditloan.com does not charge any fees from its users for applying for a loan through our website. This is absolutely a free service that you get, however, the individual lenders may be interest rates and fees. You should check the loan document carefully before you accept their offer.
Can I change my mind after I apply for the loan?
Yes, you are welcome to change your decision at any point in time before signing the loan terms and conditions document. By applying on our website, you merely explore the loan options available, and in no way are you bound to accept the terms that are offered unless you desire so.
Is it safe to provide my personal details on your site?
At the okaycreditloan.com, our customer’s security and privacy are of utmost importance. We use a host of security encryption technologies in an attempt to protect the personal and confidential information of our customers against any misuse.
When can I pay the loan back?
This depends on your agreement with the lender at the time of loan application. Generally, these bad credit loans are given for a short time from a couple of weeks to about a couple of months.
Can I apply for more than one loan at any time?
No, you cannot avail more than one at any point in time. However once you have established your credibility, you can get approval for larger amounts.