How it works

Three Easy Steps to get Your Funds

Payday loans online are by far the easiest, most cost-effective, and most efficient way to borrow short-term funds. The lending partners that participate in the network provide a wealth of products, including no fax, title, and consolidation loans. LCL serves as a one-stop resource for prospective borrowers by collaborating with the industry's top online proprietors to connect you with the personal loan you desire. Below, you'll find an outline of each major stage of the cash advance borrowing process, from finding a lender to repaying the loan.

Phase I: Selecting a Loan Product and a LenderSelecting a Loan Product and a Lender

To set the borrowing process in motion, you will first provide some very basic information about yourself and the type of unsecured loan you seek. When you request a free quote from one of our partners through our site, we will ask you for some contact and employment information as well as a brief description of the type and amount of the online loan you want. Based on your responses, we will scan our unrivaled network of providers to identify both the product and the company best suited to your needs. At this point, the information you supply will be passed on to the lender we select for you so the lender can approve your cash advance request. Neither LCL nor the lender with whom we connect you will use the information you provide for any other purpose.

Phase II: The Borrowing Process

This stage of the process will vary considerably according to the specific policies and practices of the lender from whom you borrow. Some providers may have fewer or more steps involved in this stage, so keep in mind this is just a rough outline of the process in general. Once you are approved to borrow, you will either be presented with an electronic agreement detailing the terms of your or an authorized agent may contact you to verify the details of your application and move forward with the process.

At this point, your provider might ask for additional information or specifics to corroborate the information you provided electronically. Remember that while you can complete the vast majority of the borrowing process online, you may have to complete portions of the process via fax or telephone. Typically, though, with no fax payday loans online, you will not have to fax in any additional documentation as long as your application is accurate and complete.

After reviewing your lender's agreement, you will either provide your consent via electronic signature or through verbal assent over the telephone, depending on the provider. The completion of the borrowing agreement is the last stage of the process before your provider will disburse your payday advance through an electronic transfer directly to your checking account. This may take anywhere from one to three business days depending on the company.

Phase III: RepaymentRepayment

The simplicity of repayment is one of the most appealing benefits of borrowing online. When it comes due, you will not have to do a thing aside from making sure your account has sufficient funds to repay the cash advance. Usually, the funds will be present by default because the provider will withdraw repayment from your account once your paycheck is deposited in the pay cycle you designate. Should you need additional time to repay the personal loan, your lender may offer you a roll-over option, allowing you to extend the duration for another pay cycle for an additional charge. If you plan to exercise this option, make sure you contact your lender as soon as you realize you will need more time to repay in full. This will help you avoid late fees and/or overdraft charges. Once you've repaid your unsecured loan online, you can take out new loans by returning to at any time.

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