A direct lender is surely different from a third-party lender. Don’t have a clue? Read till the end to find out how.
Direct Lender v/s Third-Party Lender
Lending source:-
When getting a loan from a direct lender, the process occurs between you and the lender. You are entitled to receive funds from the lender directly into your account, but in the case of a third-party lender, you may receive money from other sources with the involvement of other parties which might not be a trustworthy source.
Communication and response:-
After submission of the form for the loan with a direct lender, you’ll either hear a yes or no response without any further delay. You can go forward with the next option when you get a response. However, this is not the case with third-party lenders. There is a chain of lenders that go through your application and decide on a response, making it a lengthy process and a more time-consuming option.
Transparency:-
A direct lender is more transparent with its schemes, interest rates, terms and conditions, and fees whereas third-party lenders consist of multiple lenders and agents, there are high chances that one or the other may hide these details.
Third-party nuisance:-
While you choose to get money from a third-party lender, all of your details go directly into the hands of numerous lenders which increases the complexity of getting money stress-free. There are so many lenders that will go through your application and try to please you. It will consume a lot of time and there are chances that you may get fake information from the lenders too. On the other hand, a direct lender will keep you safe from the above problems.
Trustworthiness:-
As direct lenders are more open about their terms and conditions, fees, and repayment facilities, we can be sure that our information will fall into the right hands. There is a high chance that the sooner your application is accepted by them, the sooner you’ll get the money directly into your accounts, which is mostly on the same business day. Whereas, in the case of submitting your application with a third-party lender, your information may fall into risky hands and there is also no guarantee that you’ll get the money on the same day. It may take weeks or even months to get the money in your account.
With so many options available in the market, getting money from the right source at the right time can be challenging. Not only are direct lenders different from third-party lenders, but they can also be a more feasible option to get funds in times of crisis. Getting money from a direct lender online like-CashAmericaToday can be proved to be a wise choice once you decide to go ahead with us.
Still unsure about the choice between the two? Look out for both of them wisely and make a call.