Why EZ Payday Today is so Easy
Conventional loans are generally granted for higher amounts of money, which borrowers repay over a specified term--usually over the course of a few to several years. For those reasons, the lenders--oftentimes banks and credit unions--conduct a thorough screening of each applicant in hopes of weeding out those deemed too risky. They run credit checks, look over payment histories, confirm your employment background, call personal references and hand over a stack of papers for you to review and sign. They'll probably want some form of collateral too, which will then need to be approved and appraised. The entire process typically takes several weeks to complete. Or, for comparison's sake, 18 to 30 times longer than the process involved with getting an EZ Payday Today loan.
The money you borrow from EZ Payday Today, which is considered a short-term loan, is basically an advance on your next paycheck. We know most people come to us because they need cash in a hurry--so we do everything we can to accommodate them. And we've found the surest way to do that is by cutting out the lengthy approval process employed by conventional lenders. Not only does eliminating the traditional credit check get money in your pocket within 24 hours, but also it opens the door for a number of people who can't get approved for a loan anywhere else. The truth is since we deal in small loans, repeat business is much more important to us than it is to a conventional lender. So we want to make each of our customers' experiences as easy, convenient and hassle-free as possible.
Why Bad Credit Doesn't Bother Us
On its surface, our policy of not checking our customers' credit might seem to lack business sense. But to us, it makes all the sense in the world. Because traditional lenders enter long-term relations with approved borrowers, they closely examine their credit histories to get an idea of how reliable they are. But since the money you borrow from EZ Payday Today is a short-term loan that's paid back in full on your next payday, we needn't worry about how reliable you'll be in the future. And since the money you owe will be automatically deducted from your check when it's deposited into your bank account, we're pretty confident we'll get our money back. Sure, there's still some risk involved on our part. But since we know of no other way to speed up the process and get cash in your pocket in 24 hours or less, we're willing to take on that risk.
No Collateral Damage
Another common practice of traditional lenders is to request some sort of collateral, which they more or less hold hostage to ensure you'll pay back the loan. Regardless of whether a borrow uses equity in his or her home, a newer model car or a life insurance policy, the collateral has to be approved and appraised to determine its value. The procedure extends the approval process by several days to a week. When you get money from EZ Payday Today, we consider your next paycheck to be your collateral. We know it's coming, and we know we'll be repaid when it does. Therefore, our only requirements are that you have a job and a bank account with direct deposit. When you get paid, the money you owe us is automatically deducted and you never have to deal with us again ... that is, unless you should ever need another loan.
