We’re excited about our new feature,
National Payday University!
These videos will help explain some concepts and lessons concerning personal finance, saving money, payday loans, and cash advances.
This first one has to do with the difference between direct lenders and lending networks. Enjoy! The transcript is below.
There are two types of payday loan companies: direct lenders, and lending networks, or affiliate networks. What’s the difference between them? Well, there are a few.
Lending networks don’t lend you money, they send you to different companies who may send you to even different companies, who may lend you the money your need.
Because of this Lending networks often pass your personal financial information to 3 or 4 other companies.
This means that Lending networks often take longer to get you answers about your loan application, simply because they’re asking someone else, who is then asking someone else.
A direct lender is a business that is lending directly to you through a payday loan.
A direct lender doesn’t pass on your information to other companies. They deal directly with you. See? It’s right in the name.
Direct lenders often process your application much faster, because it doesn’t have to go anywhere else after you apply.
In case it isn’t obvious by now, using a direct lender is simpler, safer, and faster than using a lending network.
National Payday has been a trusted, online, direct lender for over 12 years.
Money when you need it fast. National Payday.