After the credit collapse and financial meltdown of the mid-2000’s traditional lenders and bankers became more than a little bit nervous about extending loans to just anyone and everyone the way they had been in the lead up to this meltdown.
Today, many of these traditional lenders remain pretty skeptical about offering anyone with less than picture-perfect credit a loan – and that’s left a lot of people that could have really used a long in a time of need out in the dark because of less than ideal credit scores and situations.
Thankfully though, operations like Payday Pug are making it possible for anyone over the age of 18 with verifiable income to take advantage of lending opportunities that they might not have been able to use before.
Payday loans make it possible to get almost instant access to the cash and capital you need, without having to worry about ruining your financial future along the way.
To learn a little bit more about the kinds of services Payday Pug makes available, we’ve put together this quick guide.
What exactly are payday loans, anyway?
Payday loans are essentially short-term loans that are given out based upon your financial needs and your verifiable income. Lending operations like Payday Pug take collateral in the form of personal checks held for future deposit, providing coverage for the amount borrowed on top of the finance charge.
What are the advantages and disadvantages of these short-term loans?
The major advantage of a payday loan is the opportunity to gain access to cash and capital that you might not have been able to leverage as quickly as you can with a payday loan. The overwhelming majority of operations out there – including Payday Pug – make your funds available almost immediately after approval, allowing you to leverage this financial lending opportunity when you need it most – and not when the bank tells you that it’s time to use the funds.
The major drawback to utilizing this kind of lending program is that you almost inevitably have to pay slightly higher interest rates and finance charges to make use of these short-term loans.
You’ll really want to make sure that you are paying close attention to interest rates and finance charge details before you dive right in, but as long as you understand exactly what you are getting into you shouldn’t have much if anything to worry about – especially when you do business with a reliable and reputable operation like Payday Pug.
How do I know if I qualify for these kinds of lending programs?
The best way to know if you qualify for these kinds of programs is to simply fill out the application on the Payday Pug website and receive an almost immediate answer.
As long as you meet the minimal criteria that they have established (are over the age of 18, have verifiable income, etc.) you shouldn’t have any trouble whatsoever moving through the almost instant application process.
The whole application will take about five minutes of your time, and you’ll receive your approval notification right away. If you are approved, you can expect your funding to be deposited within an hour or so in most circumstances – though it may take a little bit longer, depending upon the specifics of your loan.