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When you find yourself in need of immediate cash, traditional lending institutions may not be able to help you due to their strict eligibility requirements and lengthy processing times. Fortunately, there are direct lenders like Spotloan who offer short-term loans to anyone in need of quick cash.
Spotloan is a direct lender that offers personal installment loans with a flexible repayment period. They understand that life throws unexpected expenses at us all the time, and they are committed to providing their customers with a quick and easy solution to help them get back on their feet. Their loans range from $300 to $800, and they have a flat interest rate of 490%, which is significantly lower than the average payday loan interest rate.
Spotloan is not the only direct lender out there, though. There are many other companies that offer similar services. In this article, we will discuss some other notable direct lenders like Spotloan that you can trust to provide you with a short-term loan.
CashNetUSA is a direct lender that has been in the lending industry for over a decade. They offer payday loans, installment loans, and lines of credit to their customers. Their loans range from $100 to $2,500, and their fees depend on the type of loan you choose and your state of residence. CashNetUSA is known for their speedy processing times; you can have your loan approved and transferred to your bank account the same day you apply.
LendUp is another direct lender that offers short-term loans with a flexible repayment period. Their loans range from $100 to $1,000, and they have a flat interest rate of 30%. LendUp is unique in that they offer a rewards program for their customers who make timely payments and take courses on personal finance. The rewards include lower interest rates, higher loan amounts, and longer repayment periods.
Rise Credit is a direct lender that offers installment loans with a fixed interest rate. Their loans range from $500 to $5,000, and their interest rates range from 50% to 299%. Rise Credit is different from other direct lenders on this list in that they report your payment history to credit bureaus, which can help you build your credit score over time.
OppLoans is a direct lender that offers installment loans to people with bad credit. Their loans range from $500 to $4,000, and their interest rates range from 99% to 199%. OppLoans is known for their excellent customer service and for working with their customers to create a flexible repayment plan that fits their budget.
Direct lenders like Spotloan are an excellent solution for people who need cash quickly but don't want to go through the hassle of applying for a traditional loan. The lenders listed in this article are reputable companies that offer quick and easy loans with flexible repayment plans. When choosing a lender, it's important to do your research and make sure that you understand all of the terms and fees associated with the loan.