Disadvantages of Payday Loans

The typical repayment term of a payday loan is in the form of a lump sum or balloon payment by your next payday. This large single payment may be difficult to manage within your budget. With this kind of repayment structure, it’s not unusual to rollover your original loan into a new loan which incurs additional fees. Furthermore, a payday loan repayment structure provides no benefit to paying off the balance early because you’ll never save money on interest.

The Payday Loans Alternative

At Golden Valley Lending, we offer a different kind of short-term loan. Although our payday loans alternative shares the same advantages found in traditional payday loans, we take a different approach to mitigate the disadvantages. Residents of New Hampshire can apply for a short-term loan with Golden Valley Lending that offers several benefits not offered with payday loans. Here are some of the key features of our short-term loan:

• Loan amounts range from $300 to $1,000 for first-time borrowers.
• The loan is repaid in bi-weekly payments. We believe a fixed-term with an extended repayment period is advantageous to borrowers compared to other short-term loan products.
• Each payment is applied to both principal and interest. As your principal balance decreases, the amount of interest accruing decreases as well, which results in decreasing payment amounts. As a result, payment amounts decrease over time making our payday loans alternative manageable within your budget.
• Contracts clearly disclose all costs associated with the loan. You’ll never be surprised by hidden fees.
• You can repay your loan early to save money. We do not charge prepayment penalties. Your online account statement will provide you with an updated payoff balance.

The Application Process

Our streamlined online application provides a convenient way for you to see if you’re eligible, and it can be completed in minutes. We use a proprietary scoring system to consider all of the information you provide because we know you’re more than just a three-digit credit score. Receive a quick approval decision and funds as soon as tomorrow.

Is Golden Valley Lending the Right Fit?

Every customer’s financial situation is unique. Our payday loans alternative can provide New Hampshire residents with a solution to their short-term financial needs. Apply now and experience the difference with Golden Valley Lending!