Overview of payday lending in Montana
Low on cash and looking for a little help to get you through? A payday loan may be just what you need. Montana has numerous loan providers that can deliver you the little top-up you require. The question is, what are the 3 best payday loan companies in Montana? With the various options available, it can be difficult to assess the best payday loans available and choose the one that works for your situation. We have done the hard work for you and pulled together a list of the 3 best payday loan companies in Montana. These loan providers have been selected according to the following key criteria: application process, lending limits, fund accessibility and reputation.
A direct lender, OppLoans is known for its flexible approach to lending money to less than optimum borrowers. OppLoans, also known as Opportunity Financial, has been providing loans since 2009 and should be your go-to loan provider if you are struggling to get credit approval from other companies. An excellent choice for short-term loans, OppLoans provides low fees and long repayment periods. Reporting to the big three credit bureaus, taking out a loan with OppLoans means you even have the potential to improve your credit rating and therefore your ability to secure loans with other providers in the future.
Applying for a payday loan with OppLoans is quick and easy. Their user-friendly online application process is intuitive, straightforward and can be completed in less than 15 minutes. The system will guide you through three categories: ‘About Me’, ‘Finances’ and ‘Disclosures’. If you get stuck at any stage of the process, OppLoans has customer service staff that are on standby to assist with any issues. Even though the application process is conducted online, you can be assured that real-life individuals are available over the phone to discuss your circumstance and provide a tailored service if you desire that level of support.
OppLoans offer a reasonably high limit in comparison to other providers, allowing individuals to lend anywhere between $500 and $5000. Obviously the capped amount can differ from individual to individual depending on the details of their situation, but a maximum amount of $5000 is quite generous for quick loans and also lenders with less than stellar credit histories.
With OppLoans, you get your funds fast. If you lodge an application and it gets approved before 7.30pm EST, the cash can be in your account as quick as the next day. Not a bad turnaround time!
OppLoans has quite a good name amongst borrowers, with their customer service often considered one of their best features. Overall, their brand is seen as positive.
Things to note
Loan terms for quick loans with OppLoans vary from 9-36 months. Also, fees can vary so it’s worth conforming these for your particular application before making your submission.
Unlike OppLoans, LendYou is not a direct lender but a company that connects you to lenders. Essentially a one-stop-shop for all of your borrowing needs, LendYou will assess your situation and link you with a lender in their network that best suits your requirements.
With a fast and convenient application process, it is unlikely you will encounter any major issues with your LendYou loan application. In fact, it should only take a few minutes to complete and submit. Simply go to the LendYou website, select the loan that you are interested in, fill in some personal information and finally complete the loan application component. The website is user-friendly, allowing you to submit your application in no time.
LendYou has extremely generous lending limits for quick loans. An individual can borrow between $100 and $15,000, although this is dependent on the individual and the particular lender that you are connected with.
Great for people who need cash fast, LendYou has a turnaround time of one business day. All you need to do is submit the application online and LendYou will work on sourcing you the perfect payday loan.
An accredited member of the OLA (Online Lenders Alliance), LendYou is seen as a convenient and legitimate way for an individual to identify which loans they are eligible for.
Things to Note
As mentioned, LendYou is a connector service and not a lender itself. Each lender has different fees and specific terms and conditions, so ensure you understand the particular offerings of a lender before finalising an agreement.
MaybeLoan prides themselves on being able to assist individuals who are facing a tricky situation, whether they need emergency cash to cover their weekly bills, have unexpected costs from a car accident or can’t meet their repayment on a credit card. A direct lender, MaybeLoan is not interested in credit history; in fact, they do not even do credit checks and instead focus on an individual’s ability to repay the loan.
To apply for a payday loan with MaybeLoan, simply complete their online application. This will require some personal details, contact information and the amount you wish to borrow. Once this has been completed, MaybeLoan will contact you to outline their terms and conditions, obtaining your consent before finalising the approval of your payday loan. Alternatively, you can apply in a MaybeLoan store.
MaybeLoan’s loan offerings are designed to help individuals with unexpected emergencies and consist of payday loans between $30 and $2,500.
The turnaround time for a payday loan with MaybeLoan is 24 hours, so you can expect funds in your account the day after your application has been approved.
MaybeLoan is a relatively new lender and therefore has a less established brand than the other providers. That being said, it is already receiving positive reviews on google and other sites, with customers appreciating MaybeLoan’s generous approach to loan approval.
Things to Note
The maximum term of a payday loan with MaybeLoan can range from 1 week to 31 days, so make sure to confirm the specifics of your particular loan prior to formal approval. Also, the fees for payday loans vary depending on the amount you borrow. For $30 loans, you cannot be charged more than $1 for every $5 you borrow. As the lending amount gets higher the fees differ, so again ensure you understand just how much you will be paying back
If you find yourself stuck in a tricky situation where you urgently require cash, consider one of the 3 best payday loan companies in Montana. Each of these companies are reputable organisations that can lend you money (or link you to a lender) to meet your immediate financial shortfalls. As with all loans, ensure you have a thorough understanding of the particular lender’s terms and conditions, including the fees and interest for the specific loan you are taking out, to avoid any nasty surprises. Remember to consider your options, assess your individual circumstance and go with the lender that best addresses your requirements and suits your situation. Whichever you choose, you can be confident that each of the above lenders will provide a payday loan to assist you when you need cash quickly.
Payday loans are recommended only as short-term solutions. They should not be used consistently or long term, and they you should only borrow if you are confident that you will be able to pay it off within the term limit to avoid interest and fee charges that can push you in to a debt cycle. They can be good solutions to tide you over a few weeks between pay checks if something unexpected and relatively small comes up.
David is a financial expert who graduated from the University of Fordham (Master in Finance) in 2001. He has 10+ years of experience in private equity and wealth management. With strong expertise in senior-level financial planning, personal financial analysis, and mortgages, David knows his way around personal finance. Before working at CCR he used to be a financial analyst at McKinsey.
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