There are two ways you can apply for short term loans. You can make a shortlist of lenders and apply directly or you can apply through Payday Pug. When we say lenders, we imply direct lenders. These are private companies that offer unsecured short term loans. They may offer secured short term loans but payday loans is by definition unsecured. Payday Pug is a facilitator. You may consider it to be a mediator, a broker or just an advertising platform. Regardless of how you define the role of Payday Pug, you are not going to pay any commissions or brokerage fees to the company so you have no commitment or financial liability for using the service available. You can always apply for payday loans directly but there are some advantages of going through Payday Pug.
The first advantage is the fact that you will have to deal with just one application. There is one concise application form on Payday Pug which you can fill up online and submit it instantaneously. You don’t have to send multiple applications to the lenders of your choice. If you were to deal with lenders directly, you would have a shortlist and that may have a few or a dozen names. You would have to deal with separate applications for each of those lenders. It is quite normal for some lenders to have similar application forms. At the least, the fields would be similar, if not identical. However, you would still have to deal with all the forms. Filling up ten forms and submitting them at different websites can take you more than half an hour.
The one application on Payday Pug will lead you to multiple lenders. Hence, you would have several quotes and offers. The convenience of one application would not matter much if you received just one offer. Payday Pug has a network of lenders, all of which specialize in unsecured short term loans such as payday loans. It is possible one or a few lenders will not be interested in your application and you may not hear from them at all. However, others will be interested. It should be noted that the lenders are using Payday Pug as one of its outreach platforms. The lenders want to consider your application. If one simple online application can get you offers from all lenders that would be on your shortlist anyway and some others, then it is pointless and actually redundant to go for multiple applications.
Since you get a plethora of quotes from various lenders based all across the country, you can initiate a convenient comparison. This is the most crucial exercise in the whole process of applying for payday loans. When you deal with lenders directly, they will have a particular approach. Such an approach may not augur well for you. When you apply through a platform like Payday Pug, the lenders are fully aware that there are others, all of whom are their competitors, will be reaching out to you in the same way. You may even have similar quotes from multiple lenders.
Payday Pug has financial experts who are more than willing to offer you some priceless guidance. When you talk to loan officers that represent specific lenders, as employees or agents, you would only get advice that is within the ambit of their job. Loan officers will typically never offer you any guidance that does not benefit their company. We may show the intent of helping you but what we are really doing is trying to sell you a proposition.
Payday Pug uses encryption to ensure your application is securely processed. There are some aggregator websites and facilitators of short term loans that would take your details and share them with any and every company they know that are interested in such data. Payday Pug will forward your application to lenders of short term loans. There is absolute security and hence privacy. None of your details get shared beyond the encrypted network.