The internet has made our lives a lot easier. From your number one source of the juiciest gossip, latest news, top trends in almost everything, ordering food, and of course let us not forget buying almost anything online. What is even more amazing is that, in our present era, borrowing money has been made even easier online.
Online lenders have indeed taken the place of banks in terms of loan availment. The inception of Peer-to-Peer has indeed made it possible for people who are in dreary need of money to have immediate financial aid in just a few days. In Peer-to-Peer lending all you have to do is:
- Fill out the online application
- Wait for their call evaluation and approval
- Have the money transferred to your bank account
Despite the rise to fame of Online lenders, some people remain to be doubtful of how it works. Certain myths that somewhat give off an off-putting image about Peer-to-Peer lending have been continuously circulating just right around the corner. Allow us to help you get familiarized with these specific myths:
Borrowers need to have a high credit score to be approved
One great feature of online loans is that, unlike banks, your credit score doesn’t matter in terms of their approval process. Some lenders won’t even bother asking about it. Most online lenders would only require proof of stable income. Through this, they will be assured that you can afford to pay for the loan without any problem.
All online lenders are the same
Another top misconception regarding online lenders is that, the notion that all of them are the same. The truth is that not all loan offers and services are the same. There are Peer-to-Peer lenders who offer lower interest rates than others. Furthermore, the terms and conditions of certain lenders are other things.
Are you in need of extra cash to cover your bills and daily needs? Allow us to help you meet your financial needs. Here at Vidalia Lending, we offer you a fast and easy transaction. Application is done online, all you have to do is fill out the given form, pass our phone call assessment, and receive your needed cash in just 2-3 days.
Online loans take a long time to get approved
Probably the main challenge for borrowers is having their loan applications approved. This myth also is one of the main reasons why borrowers lose interest in applying. As mentioned earlier in this blog, online loans are way faster than banks, usually approval would only take you 2-3 days.
The absence of customer support
Well, this is not necessarily true for all types of Online Lenders. While we cannot speak on behalf of all online lenders, note that Vidalia Lending has always a team of fully dedicated customer support to assist you with all your queries regarding our loan products, the process for loans and investment, and so on.
Vidalia Lending offers a variety of loans. You can choose from our Personal loan, Salary loan, Business loan, and Small Business loan. All interest rates are also lower than the usual rates by other loan providers. Be able to borrow without any collateral, plus, you won’t need a co-borrower to be credited. You can also reach out to us through our Contact Us page!
