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9 Questions to Ask Before Applying for a Cash Loan

Are you considering applying for a cash loan? We’re here to help! Starting with helping you answer a few questions before you begin your application. This exercise will not only help you to understand the loan process at LendNation but can also help you to make a better financial decision, in general. Take a look at these nine questions to ask – and then get your loan application started today!

1. Why am I getting a loan?

There are dozens of reasons our customers come to us for loans, but they all have one thing in common: They have a specific purpose. Whether that’s help with the electric bill, a sudden medical expense, or if their paycheck can’t be stretched enough to cover their lifestyle. Knowing exactly what you will be using the money for will help make answering the next two questions much simpler.

2. How much do I actually need?

In order to answer this, let’s consider a specific situation: The surprise medical bill. Last month, you had to visit the urgent care after taking a spill in the kitchen, and now the bill has come due. You may be tempted to take out a loan for the full amount, but can you afford to pay any of it out of your pocket now and get a payday loan for the rest? By covering some of the bill yourself, you can lower your costs of borrowing money and can make repayment more manageable.

3. Will I be able to pay this back on time?

As a short-term loan, a payment for your cash loan is due by your next paycheck – usually within two to four weeks. While you may have refinance options depending on which state you live in, it is less expensive to pay it off by then, so make sure you can afford what you are borrowing. We understand that many of our customers come to us in times of financial stress so we’re happy to help you find a loan solution that is the best fit for you.

4. How long does it take to get money?

Each lender has their own approval process, and how long it takes to get your money can depend on how lengthy of a process that is. With LendNation, if you elect for direct deposit, it can be as quick as the next business day. If you apply online after our 6pm closing time or on the weekend or holidays, the approval process will begin as soon as we open again. Those picking up cash at one of our many store locations can typically get their money the same day.

5. Do I have what I need to apply?

Different lenders require different personal information during the loan application process. The more prepared you are prior to applying, the easier and faster the application process is. At LendNation, you only need a few things to get started:

  • Current U.S.-issued photo ID
  • Verifiable source of income
  • Active checking account
  • Bank statement from within last 30 days
  • Current phone number


6. What are all the ways I can apply?

Just as different lenders have different application processes, they also differ in how many ways you can apply for a loan. LendNation offers a wide range of convenient ways to apply – visit us at your local store or find us online. Here’s a quick guide to each:

  • Applying in store: Find a location near you by going to our website and viewing the locations in your city and state. When you have your required documents ready, stop on by and we’ll guide you through the application process. Make sure to check the hours of operation before visiting.
  • Applying online: Visit us online and find the loan product you want to apply for. First-time customers will be guided through creating an online account and filling out the application. You don’t even have to get dressed to apply! Eligibility to apply online may vary by state.


7. Have I read, and do I understand, the terms and conditions?

No matter what lender you borrow from or how much, it’s important to understand the entire agreement. That includes the application process, costs of borrowing the money, how long you have to pay it back, and what happens if you can’t pay it back on time. Rate charts, frequently asked questions, your loan contract and other important information can all be found on the LendNation website. This way, you have access to all the facts you need to understand the process, and you can move forward confidently.

8. Is this the best company to work with?

During a financially stressful situation, the last thing you want to deal with is a frustrating lending process. Your personal information shouldn’t be given to just anyone, so both trusting the lender and feeling comfortable with them is key.

At LendNation, our focus is to help you get the money you need when you need it. We are a responsible lender and abide by industry best practices, as well as all state laws and regulations. We take your trust in us seriously and work hard to protect your private information.

9. Is there someone I can call with questions?

No matter the type of loan or product you’re interested in, there should always be a way to communicate with a real person if you have questions. It can make or break your experience. Choose a loan company who has a customer service staff that is approachable, knowledgeable, and dependable – like we have at LendNation. Whether you want to reach out to us through email or want to talk on the phone, you can talk to the store closest to you or our customer service team.

Making good financial decisions starts with doing just a little bit of homework. Answering these nine questions is a sure way to finding the info you need to make the right decisions, whether that’s borrowing the right amount, choosing the right lender, and understanding the terms and conditions. Get your application started now on a title loan, installment loan or payday loan from LendNation to overcome any financial challenge!