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Pros and Cons of Using a Direct Lender

Short term loans are generally available through two types of lenders: a direct lender and a matcher. Learn the pros and cons of working with a direct lender to see if that is the best choice for your financial situation; if not, consider using a matcher the next time you need a short term loan.

Pro: Everything Under One Roof
Direct lenders take care of the entire loan process. The same company that accepts your application also supplies the funds. This is great for you as a borrower because it speeds up approval time, meaning you get your money faster. In fact, most direct lenders offer instant approval and same day wire transfer of funds to borrowers.

Pro: Personal Information Remains Safe
Some matchers make a business out of selling your personal application information to third parties who then contact you with additional loan offers. Most direct lenders, on the other hand, keep that information private. To be sure, always call and ask a customer service representative about the company’s privacy policies. All matcher on our site don’t forward your information to anyone except potential lenders.

Con: Difficulty Comparing Rates
Because a direct lender is just one company offering one loan product for your application, you won’t have much choice with your loan terms and conditions. You’ll need to shop around different lenders to determine which one offers the best rates. While a matcher helps you perform this analysis, most direct lenders work through physical storefront, so you’ll need to go out and do this legwork on your own when looking for your short term loan.

Con: Lower Approval Rates
As you can find more lenders with a matcher then otherwise, your chance for a approved loan is much higher. If you’re worried about your credit history, you may have an easier time obtaining a short term loan from a matcher.

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Grace Chen
Grace Chen - Writer & Editor
A graduate of the Haas School of Business, University of California, which is one of the top three (3) business schools in the U.S., Grace Chen has 10 years of experience in this field and have been delivering stellar business content through her written word. She’s the chief editor of Communicate Better and has written and edited thousands of content published in various online and printed media, including the NYSE-sponsored research studies and MEC Global. Connect with Grace on LinkedIn, https://www.linkedin.com/in/grace-chen-9254ab8/