As we all know, there’s been an increase in local companies that provide online loans. This includes mortgage companies that fund million dollar home loans online. It also includes car lenders and title loan companies. Many promise easy approval financing with huge interest charges. Not only that, we’ve seen a huge number of online payday lenders crop up over the past few years. These companies provide short-term loans in cities like Henderson 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 paycheck advances are not a new concept here in Las Vegas. Ever since the gambling boom decades ago, people have needed quick cash to pay for medical bills or other urgent financial needs. What is new is the increase in financial institutions that provide car title loans and payday advances. Online payday loans are labeled as short-term advances. But you have options for longer term installment loans. Consider a personal loan if your credit score is average to good. These companies provide money to people who a few years ago had no place to turn for 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 a 12 month installment loan. The company required a bank account and he was able to wrap up the approval process in one business day. The other aspect of this service that Bill liked was the fact that this lender was based in downtown LV. While he could have driven to the lenders office to sign the documents he also had the option of completing the documents online in 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.
You need a checking account to get a payday advance in Nevada!
We continue to come across borrowers who benefit from new forms of bank and payday advances. Take Cheryl from Las Vegas. She was looking for a payday loan of $400 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 searching for more options to bring down the finance charges on her online advance. What Cheryl did was go to our complete and updated listing of Nevada payday loan services. This page also shows an online financing service in Nevada but the bulk of loans originate in the North LV area. Once Cheryl was able to choose from payday loan companies in Las Vegas. It’s apparent 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 an online advance for $300 that became due on her next direct deposit. The loan amount was setup so a part would come out of her checking account on the monthly due date. Let’s see how long these companies remain viable providing online payday loans in Nevada. There are so many lenders eagerly promoting their services in Nevada. There’s bound to be some companies go out of business. For now though, short term loans such as payday, installment loans and car title loans are a growing business in Nevada!