Same day loans explained
When it comes to finding a fast little cash loan, there’s a stack of terms for the different types out there. One that gets a fair bit of mention is ‘same day loans’.
So, what is a ‘same day loan’? Well, at its most basic, it means once you’re approved the loan amount is paid on the same day.
Are Moola’s fast little loans ‘Same Day Loans’? Yep – they sure are.
So, what about the application process? Well there’s some good news there too. The entire application can be completed online in as little as 5 minutes and once the loan has been approved the money will be in your account within 60 minutes guaranteed.
First up, you need to design your loan. This involves working out how much you want to borrow, when you can pay it back and we will tell you how much you’ll have to pay all up. Just remember you can only borrow an amount where repayments will be a maximum of 30% of your net income.
Once you are happy with your loan amount and repayment schedule you can move onto the application process. Quick tip: Make sure you’ve got your personal deets like a bank account number, email addy and cell phone number all ready to go when you fill out your application.
Next, it’s time to sign your loan contracts. Thanks to Moola’s smart system you can sign these online. We then email you a copy for your own records and full transparent disclosure. Because we don’t believe in surprises!
We then need to chat to your employer quickly to verify your employment information you provided, so giving them a heads-up we’ll be calling and asking them to chat with us promptly can help speed things up and avoid delays.
Once that’s all sorted we’ll pay your loan within 60 minutes guaranteed all thanks to our state of the art banking system that allows us to credit your account immediately meaning you get the money in no time!
So, what if you’ve got bad credit, can you still get a loan just as fast? The good news here is you sure can. We approve loan applications based on your current ability to pay it back and still get on with life. So, don’t worry if you have bad credit, that doesn’t rule you out. As long as you meet our lending criteria then you’re all set to go.