How to Get a Personal Loan Online

As winter sets in there’s excitement in the air about the holiday season. However, for many people the holidays usher in another feeling besides jolliness and merriment: stress. Financial stress during the holidays is a common occurrence,¹ and many people feel overextended financially through the end of each year. Budgeting ahead of time is a great way to make room for the expenses incurred when splurging for the holidays, but of course not everyone has savings to cover expenses each year. In fact, only 30% of people surveyed¹ in America aren’t stressed about holiday spending. If you’re stressed, you’re not alone. Many people will find their budgets short this year. When bills are due but there isn’t enough money to cover expenses, it can be hard to know where to turn. Some people are fortunate enough to have family or friends who are able to help them or credit through a bank or credit card to see them through when things get particularly tight. Not everyone is able to access funds as needed, however. For many families, a personal loan is the option they choose to help see them through the holiday season and into the new year.

Fortunately, online personal loans are available in many states which can help take a little of the stress out of the situation. Often, when it is discovered that a personal loan is the option that will work best for the current situation, the funds are needed rather quickly. Being able to apply for personal loans online makes the process quick and simple. Before applying, let’s review a few of the basics regarding online loans, personal loans in general, and how to apply for a personal loan at your convenience.

Online Loans

When you need to get a personal loan online, it’s likely that you will have a few questions. Are online loans the same as the loans you can access at a Speedy Cash store? For the most part, yes. Many of the loans offered by Speedy Cash are available in store or online. However, your state of residence will have the most important impact on loan availability. Likewise, Title Loans are not available online because your vehicle will need to be assessed. Where available, you can typically apply for a Line of Credit, a Payday Loan, or an Installment Loan online through Speedy Cash. All three of these loans are personal loans and when accessed online the application process, approval speed, and funding times are streamlined and convenient.² However, Speedy Cash does a great job of making the process, well, speedy both in person and online.

So why choose online loans? Convenience is one of the top reasons our customers choose to work with us online. You’re able to apply from anywhere, at any time, and the approval process takes place quickly with an answer typically being given as soon as the same day. When you access a personal loan online, you also can access quick funding that will be directly deposited into your bank account. As an added bonus, Speedy Cash is a member of The Online Lenders Alliance (OLA). Membership in the OLA is an honor, and is our way of committing to uphold the best practices outlined by the organization in addition to following applicable rules and regulations set forth by each state in which we offer loan options and other store services. When it comes to obtaining a quality loan from a great lender online, we do our best to make it easy. Online loan options are widely available, which means working with a lender committed to quality and service like Speedy Cash is an important choice to make.

Personal Loans

Personal Loans are available online and in person. If you are looking for a face-to-face interaction³ with a fantastic customer service team member, stop by one of our conveniently located stores. Personal loan terms, rates, and agreements are unique to each loan type and lender. Speedy Cash makes rates and terms available for your review online and in store. If you have any questions when applying for a loan, we’re here to help even if you’ve applied online. You can call our team with any questions you may have while applying.

Apply for Personal Loans Online

When you need quick funding,⁴ a personal loan is an option worth considering. Likewise, personal loans do not typically come with spending restrictions meaning you are able to use the funds however you would like. To apply for personal loans online, many lenders typically require the following information. Some lenders require additional information, but you’ll want to at least have the following on hand.

Personal Information Typically Needed to Apply

• Personal contact information: Current phone number and address
• Valid email address
• Birth date: You must be at least the minimum age required by your state of residence to apply for a personal loan online or in person
• Identification number: Valid driver’s license, state issued ID, or passport

Income Information Typically Needed to Apply

• How often are you paid? Weekly, bi-weekly, monthly?
• Gross income: This is the amount you are paid before taxes and other deductions are taken out of your check
• Net income: This is your actual take-home pay, the amount you receive on your check after taxes and other deductions are taken out
• Information about your source or sources of income

Banking Information Typically Needed to Apply

• Current checking account and routing numbers
• Valid debit card information for the quickest possible funding where permitted

Budgeting for Repayment and Seasonal Expenses

As you weigh options and decide whether or not to apply for a personal loan, keep in mind that research is a no-cost way to get information you need to make an informed decision. Think through your options carefully. Are you able to borrow from family or friends? Do you have access to a line of credit or a credit card with a lower interest rate? Responsible lending is our commitment to our customers. We encourage our customers, in turn, to borrow responsibly. Consider your ability to repay your loan⁴ and take on an additional expense in the form of a loan payment if you decide that an online personal loan is the right choice for you in your situation. Once you’ve decided that a personal loan is right for you, Speedy Cash is standing by and ready to help you online or in person. When you need us, we’ve got your back.