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Real Payday Lenders and Loans

Nothing is more important than getting your loan from a legitimate payday lender. It helps you avoid exorbitant interest rates, and getting prey on by unscrupulous companies out to trap customers in debt.  

Straightaway, you should note that Nation21Loans is not a direct lender. We’re not a Credit Access Bureau, either. Our platform provides loan-matching. It’s a key service that shortens the time taken by customers to secure loans from suitable lenders. We work with a host of loan companies, and our collective experience will help you know how to spot safe online payday loans.

Applying does NOT affect

your FICO® credit score!


What is a real short-term lender?

You wouldn’t be concerned with finding real lenders if there weren’t fakes out there. Like any industry, the online short-term lending world draws bad operators looking to scam unsuspecting borrowers.

A real short term lender offers genuine short-term, small-dollar loans. These loans are called payday loans. You get access to a few hundred bucks. Upon getting paid –whether it’s a paycheck from your employer or social security payment – the lender expects to be paid in full.


Why is it important to find a real licensed lender?

Choosing the right loan company is key because it has a huge bearing on your loan experience. Would you want stress dealing with a difficult lender? Or the pain of getting scammed while you’re struggling to get any dollar that comes your way?

Licensed payday loan lenders have to obtain permits in all states they operate in. They need to abide by the state’s lending regulations or risk having their licenses revoked. Worse still, they might have civil suits brought against them for offering loans that are later considered void by state laws.

Other factors that make it important to choose a licensed loan company for online loans include:

1) Your financial health

Payday loans are especially dangerous when you can’t meet the loan repayment. Assume you borrowed $100 for 14 days at a finance charge of $15. If you don’t have the full amount, the loan company might “rollover” your loan. You pay the finance charge of $15 in exchange for a renewed due date, probably 14 days away. After this, you still have to repay $115.

Another concept is loan renewal. Here, you first pay-off the $115 loan, and promptly take out a new loan. Rollovers and renewals will trap customers in debt circles.

Good licensed lenders don’t roll over loans. Instead, they work with the borrower to create repayment plans. In case you need a new loan, they enforce a wait time of 5-7 days before approving your loan.

2) Data protection

Financial institutions collect very sensitive information, such as your credit score, during the loan application process. They might ask for your banking details, employer’s details, income amounts, etc. It’s vital that they properly protect user data in the age of constant cyber attacks.

Real lenders have a privacy notice, explaining what they do with your data, and measures are taken to protect it. For instance, they will encrypt data before sending it. Similarly, ensure you’re on a secured site by looking for the secured padlock on the site’s address bar.

3) Avoid payday scams

There are two common payday scams. The scammer might ask for a good-will payment before processing your loan. They request funds to be sent through wire transfer.

Customers have reported receiving calls from people claiming to be judges, police, or debt collectors demanding overdue payday loans. They might even accuse you of forgery and threaten arrest.

Red flags that tell you a payday lender is not real


Red Flags Green flags
Asks for an upfront payment before funding.
Requests to be paid via immediately wire transfer.
The site lacks physical addresses or phone numbers.
Company is based in another country.
Deposits cash to your bank account at no fees.
Asks you to set up automatic debits or check.
Website has contact details and office address.
Lender has a physical location in the USA and licenses to operate.


How to identify a real payday lender online?

1) Check out their “Rate and terms” page to see all states where they offer loans.

2) Ensure they have a secured website, privacy notice, and terms & conditions that are easy to understand.

3) They must fully disclose that their loans are short-term and high-interest.

4) Their loan products (loan amounts & interest rates) should differ from state to state.

5) You’ll get approved for a loan amount that you can repay. Don’t jump on a larger loan for the sake of it.


How to apply for a real payday loan

Complete your online loan application on our website. Access it by selecting “Apply Now” or fill out the short form asking for the “loan amount” and “zip code.” After submitting the request form, you’ll receive loan offers from real lenders in our network.

Applying does NOT affect

your FICO® credit score!


Do you have any further questions?