If you’re looking for funds quickly, you might be considering a traditional payday loan. Although there are benefits such as quick funding and no minimum credit score required, they do come with disadvantages. At Golden Valley Lending, we offer a payday loans alternative to residents of South Dakota and across the country. We set out to build a product that keeps the advantages of payday loans while mitigating the disadvantages.
South Dakota Payday Loans Alternative
If you’re looking for funds quickly, you might be considering a traditional payday loan. Although there are benefits such as quick funding and no minimum credit score required, they do come with disadvantages. At Golden Valley Lending, we offer a payday loans alternative to residents of South Dakota and across the country. We set out to build a product that keeps the advantages of payday loans while mitigating the disadvantages.
Our Payday Loans Alternative versus Traditional Payday Loans
Payday loans are designed to be a quick source of cash that don’t require an above average credit score. Part of that equation are the inherent disadvantages built into how the product works. Typical disadvantages of payday loans are as follows:
- Short loan term. The loan is usually repaid in full by your next payday.
- Balloon payment. Final loan payments are usually one lump sum payment.
- Prepayment penalty. Loan repayment structure doesn’t allow for saving on interest with early payoff.
Golden Valley Lending’s payday loans alternative is a different kind of loan. Like payday loans, our product is a quick source of cash that doesn’t require an above average credit score. Unlike payday loans, however, our payday loan alternative has the following beneficial advantages:
- Longer loan term. Loan repayment takes place over bi-weekly installment payments.
- Each payment is applied toward principal and interest. As your principal balance decreases, the amount of interest accruing decreases as well, which results in decreasing payment amounts.
- No prepayment penalty. You may pay more than the minimum required payment on scheduled paydates or payoff early. You’ll be able to save on interest paid without penalty.
- Loan amounts range from $300 to $1,000 for first time borrowers.
The benefits of the Golden Valley Lending payday loans alternative are clear.
Streamlined Application Process
Transparency and efficiency are important to us, so we created a clear and streamlined process for applicants. As a resident of South Dakota, you’re eligible to apply with Golden Valley Lending from a desktop or mobile device at any time. Applying only takes minutes and you’ll receive a decision fast.
We start by asking for the information required to make an approval decision. Our proprietary scoring system gives every application special attention by looking at all of the information you provide. We know you’re more than just a three-digit credit score.
How We Deliver the Funds to You
If you’re approved by 4:30 p.m. Eastern Time, Monday through Friday, you may receive your funds as soon as the next business day. Funds can be deposited into your bank account electronically using an ACH transfer.
Don’t settle for the brick-and-mortar options in South Dakota or a traditional payday loan. Apply now for the Golden Valley Lending payday loans alternative!
