When Quick Loans in Lincoln Park are needed, there is no doubt that time is the most important factor. Fast money can’t really be obtained by going to the local bank, after all. The average loan application takes around one to two weeks to process, and it may take even longer to actually get the money in hand. With a quick loan provider, commonly known as a payday loan provider, it is possible to get the money within as little as a few hours. At the most, this type of loan will usually take no longer than one day to process and receive.
The main thing that a person needs when they go to apply for quick loans in Lincoln Park is a steady income. This income should normally come in the form of a paycheck that is directly deposited into a checking account. However, some quick loan providers will accept an income in the form of disability or social security payments as long as those monthly payments meet the required threshold. The threshold to qualify for loans is usually, at least, $1,200 per month. However, for people who need to borrow larger amounts of money the income requirement may be higher.
Another important thing to have on hand when applying for Quick Loans is a short list of references. Most quick loan providers ask for at least three different references who will attest to the stability and trustworthiness of the person who is applying for the loan. Once the references are checked, it is possible to get the loan almost immediately.
Don’t forget to bring along a checkbook when applying for the quick loan. The vast majority of payday loan providers will only extend a loan to someone who has a currently active bank account, preferably a checking account. In some cases, a savings account will suffice, but be sure to inquire about that ahead of time. In most cases, the loan money will be deposited into the checking account as soon as the loan has been approved. When it’s time for repayment, the money will once again be withdrawn directly from the account.