As we all know, there’s been an increase in Nevada companies that provide online loans. This includes mortgage companies that fund million dollar home loans online as well as car lenders that promise easy approval car loans with huge interest charges. Not only that, we’ve seen a huge number of online payday lenders crop up over just the past few years. These online payday lenders provide short-term loans in cities like Las Vegas and Reno. Not only can residents of Las Vegas get a payday loan from these lenders but they also work with people all across Nevada.
Short-term loans are not a new concept here in Las Vegas. Ever since the gambling boom decades ago, people have needed quick cash in order to pay for medical bills or other urgent financial needs. What is new is the increase in online payday lenders. These online payday loans are typically labeled as short-term loans but there are also options for longer term installment loans and personal loans if your credit is average to good. These companies provide loans to people who just a few years ago had no place to turn in order to get quick cash. For example, Bill Edwards owns a small business that’s been locally owned for years. His company offers employment related services to financial companies all across Nevada. A few months ago he needed $3,000 to pay his monthly office mortgage payment. He went online and found a lender that was willing to help him with either an online payday loan or a 12 month installment loan. The other aspect of this service that Bill liked was the fact that this lender was based in Las Vegas. While he could have driven to the lenders office to sign the documents he also had the option of completing the documents online in just a few minutes. This option enables Bill to apply for and be approved for a $3,000 personal loan that required 12 monthly payments. While the interest was high he had the option of paying back the loan in full with no prepayment penalty.
There are more Nevada resident that we came across who benefited from these online payday loans. Take Cheryl from Las Vegas. She was actively looking for a payday loan of $400 in order to pay for some urgent dental work. Cheryl knew she could walk into her neighborhood pawn shop and ask for an installment loan, but she was really searching for more options in order to bring down the finance charges on her loan. What Cheryl did was go to our complete and updated listing of payday loans Las Vegas. This page also shows online loan service in Nevada but the bulk of loans originate in the Las Vegas area. Once Cheryl was able to choose from multiple payday loans Las Vegas she felt a lot more comfortable about her options. After using the Nevada lender database she was able to choose from a half-dozen lenders that all competed against each other. This was of course in her favor and Cheryl got a payday loan for $300 that became due on her next direct deposit. Let’s see how long these companies remain viable providing online payday loans in Nevada. There are so many lenders eagerly promoting their services that there’s bound to be some companies go out of business. For now though, short term loans such as payday loans and installment loans are a growing business in Nevada!