4 Outstanding Ways a Tax Refund Loan Can Repair Your Cash Crunch Better
#1 – Faster!
Waiting for your next paycheck, putting off bills, borrowing from family and friends to get through…we’ve all been there, and it’s no fun. As it turns out, a personal loan from a bank takes almost as long – to the point where it’s not a practical solution to a between-paycheck shortage. A tax refund loan application takes just moments, and you can get one at any time of year, regardless of whether you’ve even filed your return yet or not. Just provide a little information about yourself and your income, and the lenders will be able to process the application and offer you loan terms in less than two minutes! Not only is the offer processed quickly, but the cash will be deposited to your bank account that day, and available to you as soon as your bank’s clearing process will allow – there’s no faster way to get a personal loan.
#2 – Convenience!
Even aside from speed, there are aspects of the tax refund loan process that are simpler and more convenient than standard traditional loans. For example, the all-digital online application process can be initiated and completed from anywhere. Compare that to a loan from your bank, which might require a paper application form submitted to the branch office either by mail or in person, or a meeting with a loan officer before approval can be issued. Many financial institutions ask numerous personal questions about your monthly expenditures, or require collateral or credit references. None of this will be the case when you borrow against your income tax return.
#3 – No Credit Check
You can qualify for a tax refund loan regardless of your credit score, which is definitely not the case for most personal loans. Our lenders realize that millions of Americans are living with negative marks on their credit due to events in their lives that are long past, and believe that hardworking people should be able to begin to rebuild their financial lives sooner than the seven to ten years that it takes for information to age off of a credit report. When you submit your application, instead of pulling a standard credit report, our dedicated lenders generally use their own proprietary set of criteria to determine approval. As long as you’re at least 18 years old, a US citizen, have a bank account and can meet the minimum monthly income requirements, you’re almost certain to qualify – and doesn’t that reduce the stress and anxiety involved right off the bat?
#4 – You’re in Control
Tax preparation companies have been providing loans to speed up their customers’ tax refunds for years, but always contingent on receiving the actual refund in the customer’s place. With a tax refund loan, your refund remains yours; borrow against your upcoming refund at any time, even if you haven’t submitted your return yet, repay it as you would any other personal loan if your refund won’t arrive in time to repay it with, and then get your actual refund when the time comes. It’s like getting to spend it twice!
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