CHICAGO, Nov. 11, 2013 /PRNewswire-iReach/ -- 500DollarsLoan.com has just announced that the company is offering more loan packages today including 500 dollar fast cash loan online across varying rates and terms as the company expands its network of direct lenders to meet the growing industry. The move is part of the company's goal to serve more people with bad credit who face different emergencies by adopting advanced search systems in its loan site. If you're struck by an emergency and need a loan, you can apply here.
"This lending niche is getting crowded with more lenders offering various promotions to attract borrowers," Leif Rodgard, a company spokesperson, said, noting that borrowers should expect more lenient loan products vying for their pockets. As the industry experiences a surge in the number of loan agencies, some lenders now allow applicants to get 500 dollar fast cash loan with approval in less than an hour.
"We're on track to increase our lender base this year to meet our growing client base," Leif said. "We're happy to have served over a million applications and we continue to expect more to come especially for the 500 dollar fast cash loan package."
Personal loans such as bad credit loans are gaining popularity among Americans who have defaulted during the recent recession. However, with the country's economic and employment improvement this year, people are going back to work with more steady income, but they are being shunned away by traditional lenders such as banks and credit card companies because of their tainted credit score.
Instead these borrowers are turning to online lenders who are willing to give short-term loans such as a 500 dollar fast cash loan. Although these loans are typically more expensive with higher interest rates and stiffer penalties to balance the risk of lending out to people with bad credit, they do come in varying terms and conditions that favor borrowers.
Furthermore, the personal loan industry is set to grow even bigger by next year as more borrowers race to improve their credit score and look for quick loan packages even for small amounts. "We recognize that a significant chunk of personal loan applicants use the cash to consolidate past debts from credit card companies," Leif admitted. Still, the majority of borrowers rely on bad credit personal loans to cover emergency financial needs such as to repair a house or fix a car.
Before, borrowers with bad credit have difficulty securing a loan, but the challenge now is to find the package with the best terms. Leif said with advances in search technology, loan sites like 500DollarsLoan.com will be playing a central role to help borrowers sort through hundreds of legitimate lenders. The site, Leif said, allows users to compare loan products from reputable providers from the comfort of their home.
Asked if borrowers can get a better deal by going directly to lenders, Leif said they may, "but it's like looking for a needle in a haystack." Furthermore, loan sites often negotiate with the direct lender to market published rates, where both loan search sites and direct lenders publish the same rates. "This is similar to the deals between travel sites and hotels. The user is getting the same rate for a, for instance, 500 dollar fast cash loan wherever he books," he said.
Online application is easy and fast, according to Leif. "You just provide some basic personal data, work background and a little of your bank details to show that you can afford the loan." In some cases, lenders even offer an immediate 24 hour application approval process.
If you want to know how to get a loan with easy processing and fast approval immediately, click here to start your free application.
Media Contact: William Worthington, 500DollarsLoan.com, +49502489381, firstname.lastname@example.org
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