Introduction –  

There are many lenders who are spread all across the USA, and they are in the work of lending. Among such lenders, one of the most popular lenders is slick cash loan. It is one of the best platforms for taking loans & besides all of that, it also provides guaranteed fast funding. But at the same time, there are many people who get confused between guaranteed fast lending and guaranteed approval. As there are many fake lenders who are providing guaranteed approval without credit check. So, people need to be aware of such and make sensible decisions when applying for loans.

Payday Loans –

One of the best forms of loans which the slick cash loan lenders are providing is the payday loans online. Now, when this loan is given, the first thing that the lender will do is to check your creditworthiness. It is very important for the lender to know that you have creditworthiness and have a work and income. It is only then, on the basis of which you can get a loan/instant payday loan. In case, if you are not creditworthy, then one of the things is that you may not get the loan. Also, it is for their safety that the lenders check the creditworthiness of the people before giving them the loan.

Guaranteed Quick Funding –

Besides all of that, the next best thing that you will know about the lenders is that, is that their funding in your account is pretty quick. Once they know about your creditworthiness or the capacity to payback the loan amount, then the money will be disbursed into your account within 24 hours or at the max 48 hours or on the 3rd day, depending on how you have made the application and depending on the approval. But it is guaranteed that, the money will be deposited quickly. So, that you can use it.

High Interest Rate –

Besides all of that, one of the most important things that you ought to know about the interest rates is that, the interest rates are higher. It is also sometimes defined as APR i.e. annual percentage rate. So, in a slick cash loan, the APR raises from 300 to 600 percent. And, it can go up even above that number. So, one of the things that you ought to know is that, interest rates will be higher and you will have to pay the money in your next pay day cycle, which will be 2 to 4 weeks.

Credit Score –

Moreover, it is very important for you to know that, if you are taking the loan, then it is very important for you to repay back the loan. If you don’t repay back the loan, then the lenders may send a negative or not repaid back the loan, report to the credit bureau and this can have a huge impact on your credit score. So, therefore, it is very important that you quickly repay back the loan amount, so that your credit score is good.