Business & Financer

Feel Good About Your Choice Of Lender

Finding where to go when you need a personal line of credit is a challenge. There are roughly 26,800 commercial banks and payday lenders in the United States. Thankfully, some of these institutions aren’t available in your region, so you don’t have to investigate every single option before you can make an intelligent choice about your line of credit.

A growing number of Americans in the same position as you are turning their backs on the FDIC-insured banks for alternative lenders. Here are just some of the reasons why your cohorts avoid conventional lenders:

  • Too Much Waiting: A bank’s credit check and financial review can take weeks before they’re willing to approve an advance. When you need the line of credit to help cover expenses with imminent due dates, you simply don’t have the ability to wait as your bank considers your application.
  • Unforgiving of Past Mistakes: Part of the reason why it takes banks so long to complete these reviews is because they have strict standards. If you’ve made mistakes in the past that has affected your credit score, this can mean you won’t be approved.
  • Collateral Damage: A prime credit score isn’t the only thing you’ll need before a bank approves their personal lines of credit. Certain institutions require their clients to secure assets, like their home or car, against the line of credit. For those without substantial assets, this condition can put the kibosh on your application.

Whether your reasons for avoiding traditional lenders are one, a combination, or none of these know that there is a faster, easier option that doesn’t rely on prime credit scores or collateral. The personal lines of credit from direct lenders like MoneyKey provide a convenient alternative to many of the other financial products available on the market.

The direct lenders of America have created a streamlined lending process that doesn’t require lengthy interviews or financial reviews. Their online application shouldn’t take longer than 15 minutes to fill out, as it only asks basic questions about your finances and contact information. To see what you need in order to apply, check out

Should you qualify, loan specialists will phone you to confirm these details. Notification of your qualification is nearly instant, and you can receive your line of credit within one business day of approval. You won’t have to secure your home or car against the advance before you sign along the dotted line.

Instead of collateral, direct lenders use their rates, terms, and interest to secure their small dollar loans and lines of credit. To make sure these conditions are something your budget can accommodate, spend time reading up on your lender and confirm they have a state license just like MoneyKey. A license ensures they follow state-wide laws regarding the size and term of their financial products.

A personal line of credit is a superior way to borrow because of the flexibility it affords you. Acting much like the plastic in your wallet, you only have to make a minimum payment based on your use and interest. The next time you need a little help paying bills and repairs, consider a line of credit from a state licensed direct lender. They’re a practical alternative to conventional lenders that offer a responsible way to manage your finances.

Slow Response for Your Credit Card Complaints? Take it to Social Media