Have you ever wondered what a direct payday loan lender is? These lenders are the companies who actually make the payday loans. Direct Payday Loan Lenders generally….
- Market the loan. This means they find people who want to get the loan and qualify for it.
- Underwrite it. Decide whether they want to give the person the loan or not.
- Fund it. Are able to give the loan to the person.
- Collection. Are able to take payments out of the person’s checking account when it comes due.
This is important to note because there are some companies who aren’t the direct lender. These companies do part of what’s listed above such as marketing. Some are only there to gather to person’s application information. These are network companies and usually they work with multiple lenders. With direct payday loans you can apply directly through their company for a loan.