Did you know that the easiest way to get approval for a bad credit loan guaranteed approval is by following these four steps? Find out how to get approved for Guaranteed loans for bad credit online with our four step guide below.
Steps to Get Guaranteed Approval
Step 1: Identify the type of loan that you are looking for
Identify what type of loans you are looking for, this will determine what lender to apply. Apply only with lenders who offer loans in your specific category. This will guarantee approval as long as you qualify and would be willing to repay your loan in accordance with their guidelines, terms, and interest rates.
Step 2: Compile your application
You will be required to provide the necessary documents, information, and requirements to get approved. These may vary depending on the lender you apply with. For example, a lender may require proof of income while another may not. Some lenders may need you to fax in your application while others would prefer that you e-mail them your application as attachments or links. You can find out what is required by contacting the lender of choice or checking their specific website for guidelines and information on applying.
Step 3: Submit and wait for approval
Upon submission, review the contract thoroughly before signing anything and send it back to them via fax or email attachment if requested. You can expect your application to take up to 24 hours or longer depending on the lender you applied with.
Step 4: Approve or Deny Your Application
Some lenders would only require you to submit a fax while others will require that you send in a physical copy of your signed loan agreement. If approved, the lender will notify you via phone call or email, and send you the contract for review before signing. After reviewing if the terms and conditions are agreeable with your needs, sign the contract and wait for funds transfer.
What is a bad credit loan?
A bad credit loan is a loan that is guaranteed by the lender in order to secure their financial assets. This type of lenders usually offer loans to applicants with poor credit records, usually below 250 points.
If your application was denied, the lender will notify you via phone call or email. Some reasons for denial could be that you did not qualify for the loan, or that your credit has yet to improve.
Please note that there are scam artists pretending to be lenders online so make sure to do your due diligence on researching and applying with the right lender and don’t forget to read our Disclaimer.