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Securaloan wants to connect you with their lender network for payday loans ranging from $100 to $30,000. The first step in their process is to fill out the short "Qualify Now" form, where you'll enter your credit score range, zip code, monthly income, and whether or not you're active military. From there, you'll be taken to a more lengthy application similar to other services we reviewed: you'll need to give them your contact information, Social Security Number, banking information, and so forth.
From there, you'll be taken to a lender offers page where you can see how much you qualify for, along with any terms and conditions specific to each loan offer. Because they're not an actual lender, Securaloan can't tell you exactly how much to expect in terms of interest rates, but their FAQ does state that their partners typically charge anywhere from 9% to a whopping 1200% APR.
When we tried calling the toll-free number in the "Contact Us" section, the automated system identified itself as the "Cash By Phone Network". It took several tries before the system would accept our zip code for verification; once we did get our location verified, we were told that no loans were available in our area.
We tried a zip code from a different area and were asked several automated questions; once we said that no one in our household was active military, the recording said "We cannot help you at this time". Given that we said that yes, we had a current source of income and we were 18 or older, we're not sure why not being active military would disqualify us from their process. We entered the same information in the online "Qualify Now" form and were taken to the detailed application. This inconsistency is troubling.
Then, when we looked up the mailing address provided in the "Contact Us" section, it came up as being the address both for a business called LeadStudio and for Alliance Capital Funding Network. While many businesses operate under different names, Securaloan doesn't make it easy to verify that they're on the up-and-up. We wouldn't feel very secure entering our personal information, such as a Social Security Number or bank information, unless we were assured that the lender was legitimate.
The only positive we found on the Securaloan site is the Financial Fundamental Tips section. For people who are struggling to make ends meet - as is the case with many people who need a payday loan - there are some useful suggestions regarding budgeting, credit scores, and being in control of one's finances.
For people who need the quick help offered by payday loans, having a lender they can trust is extremely important. However, Securaloan does not do much to establish that kind of trust, and for that reason we highly recommend that you consider a payday loan provider with a stronger reputation.
Large Cash Loans, like most of it's competition, touts an easy approval process with no application fees. In most cases the money can be deposited directly into the customer's account within 24 hours. However, they do not advertise "nothing to fax" like many other payday sites, and you may need to fax documentation. Their other pre-qualifications are pretty standard; must be a US citizen at least 18 years old, have an income of at least $1,000 per month, and have an active checking/savings account. As long as these criteria are met, and the loan application is complete, you should be able to get a payday loan/cash advance for up to $1,000.
Large Cash Loans provides a very comprehensive and informative site. For example, there is an entire section entitled "Resources". This section includes information on credit services, credit repair, debt consolidation, bankruptcy, credit cards, mortgages and insurance. Phone numbers and websites are provided for most of these services. Large Cash Loans seems to target a more international market, with references to services in the US, Canada and the UK.
Large Cash Loans also holds security in high regard. They explain at length the security and privacy measures they have taken to keep their customer's information confidential. In today's world of identify theft, this is reassuring to know. Customer Service is available through either a toll-free 1-800 number or by email.
The information provided on their website is helpful and they offer a high limit on loan amounts. We wish they posted their service fees online in a more accessible manner.
To help you find the Best Payday Loans, TopConsumerReviews.com provides you with an in-depth comparison of Securaloan and Large Cash Loans.
Payday loans provide a much-needed service to millions of people. There are many times when short-term debts outrun the ability to pay. In times like this, a payday loan (a loan against a future paycheck) can provide the cash necessary to meet those needs.
The advantages of payday loans are many. Often they don't require a credit check from the major three credit bureaus. The best payday loans offer amounts that can range from a few hundred dollars to $1,000. And you receive your loan very quickly; sometimes as soon as tomorrow.
Drawbacks? Payday loans typically charge service fees that are greater than traditional loans. These service fees can range from $10 to $30 per $100 loaned, and sometimes even more. Many states have regulations stipulating the amount of service fees that can be charged. Obviously, the best payday loans are meant to address quick cash needs, and should not be used as a long-term solution.
Still, in order to meet short-term obligations, payday loans can provide a fast and easy solution. When evaluating different payday loans, there are certain factors you want to consider. Some of these include:
TopConsumerReviews.com has reviewed and ranked the best payday loans available today. We hope these reviews help you meet your short-term financial needs!
What to Look For in a Payday Loan
When searching for any type of loan, including payday loans, there are a number of factors to consider. Although fast cash payday loans are different in some respects, they are very much like any other loan in that convenience, cost and quick replies are essential. With that in mind, this article is designed to give you an accurate and detailed look at some of the factors to look for when choosing where to submit your application for payday loans.
Payday loans offer quick cash for those who need it and, best of all, they are available almost immediately. These types of loans help those who may be faced with life's unexpected events, expenses or are just running short on cash and need a helping hand until the next paycheck rolls in. Whatever the reason, payday loans provide a valuable service and it's important to know what to look for and how to choose the right lender for you.
Payday Loans In The News
After two years of waiting, payday loan legislation is one step closer to reality in Newfoundland and Labrador after the federal government provided a needed exemption. The exemption was published in ...
Published: Wed, 12 Dec 2018 12:11:57 GMT
Payday loans target consumers with no credit or low credit scores. These high-interest loans promise fast cash until the next paycheck comes in, but oftentimes they create dangerous cycles of new loan...
Published: Sun, 09 Dec 2018 22:38:00 GMT
KANSAS CITY, Mo. (AP) - A startup that launched in Kansas City as an alternative to the payday lending industry has been awarded a $1 million grant to expand its services. The Rockefeller Foundation a...
Published: Mon, 10 Dec 2018 08:49:00 GMT
SAN FRANCISCO -- A U.S. appeals court has upheld a nearly $1.3 billion award against a pro racecar driver convicted of deceiving consumers with his payday loan business. A unanimous three-judge ...
Published: Wed, 12 Dec 2018 18:38:00 GMT
A U.S. appeals court on Monday upheld a nearly $1.3 billion award against a pro racecar driver who was sent to prison following a conviction for cheating consumers through his payday loan businesses. ...
Published: Wed, 12 Dec 2018 16:47:00 GMT
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