PORTSMOUTH, N.H., March 25, 2013 /PRNewswire-iReach/ -- Getting quick money hasn't always been easy. Historically, people in need of emergency loans had to find a copy of their pay stub, drive to the local payday loan lender, and pay exorbitant interest rates—not to mention a slew of hidden fees. And consumers didn't have a choice. Any given community typically had only one or two emergency lenders within driving distance, and they all kept their rates close to one another's.
But the Internet has changed all of that. With the ability to collect data from thousands of lenders, PaydayLoansOnline.org has brought the power of truly open and competitive loan markets to anyone with a web browser. Every Lender who participates in PaydayLoansOnline.org's instant approval, fast transfer online loan application process is competing against lenders from across the rest of the country, which forces them to keep their rates low and their user fees at a minimum.
Even more importantly for consumers in need of emergency loans, PaydayLoansOnline.org leads the industry in application approval and electronic cash transfer speeds. From start to finish, consumers can qualify for as much as $1,500 deposited in their checking account in as little as one hour.
"We started PaydayLoansOnline.org because we realized there are a whole lot of people out there who unexpectedly need cash quick," said Richard Burden, CEO of PaydayLoansOnline.org. "And up until recently, unless you had a rich relative or an existing credit line, there really wasn't any good way to do that. Even standard credit cards rarely allow for more than $1,000 cash advances. That just isn't enough if you have a major car accident, a need for legal counsel, or any other number of other emergencies."
At the heart of PaydayLoansOnline.org's online loan application is their proprietary Swift Approval platform, a system which allows for fast loan approval and direct electronic deposits into borrowers' checking accounts. The Swift Approval processes applications in as little as 60 seconds, meaning borrowers get near instant approval. Plus, loan approvals do not require good credit, which makes them accessible to nearly anyone who is employed or has verifiable government benefits.
Electronic cash transfers are quick, too. Depending on the borrower's bank policies, it's possible for them to receive a direct deposit in as little as one hour after receiving approval through the Swift Approval platform.
"We try to make the whole process as painless and easy as possible," said Burden. "We know that when people are in a pinch, the last thing they need is a pile of paperwork. And we understand the anxiety of needing money now and not knowing where it's going to come from."
Media Contact: Richard Burden, Payday Loans Online Services Ltd, (440) 941-0170, [email protected]
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SOURCE Payday Loans Online Services Ltd