Short-term Loan Options

Payday loans are named after the short payoff terms of the loan product. Often, a payday loan will be due by the borrowers next pay date. They are designed to be quick access to cash in the short-term. The downsides of payday loans can be somewhat overlooked, but it’s important to consider them when making a personal financial decision. Here are some of the disadvantages:

• Short loan term. Loans require full repayment by the borrower’s next payday.
• Balloon payment. The loan is usually repaid with a final lump sum payment.
• Prepayment penalty. Fee structure makes it impossible to reduce interest charges by paying off early.
• Rollover costs. Failing to pay off the loan on-time results in additional fees and charges.

All of these characteristics can make it difficult for borrowers to budget properly in order to repay the loan. Golden Valley Lending’s payday loans alternative keeps the advantages of payday loans, including quick approval and funding times, while mitigating the disadvantages. Some notable features of our loan product are the following:

• Longer loan term. Repay the loan in bi-weekly payments.
• Payment amounts decrease. Each payment is applied to principal and interest. As your principal balance decreases, the amount of interest accruing decreases as well, which results in decreasing payment amounts.
• No prepayment penalties. Pay more than the minimum required payment on scheduled pay dates or payoff early and save on interest charges.
• Transparency. Never be surprised by hidden fees.

Consider the Payday Loans Alternative

Golden Valley Lending provides you with a different way to borrow. Apply online with our streamlined application that asks for the information necessary to make an approval decision quickly. 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 electronically into your bank account using an ACH transfer.

Borrowers deserve transparency and Golden Valley Lending is committed to providing a hassle-free experience. Our streamlined process makes it easy to apply for our payday loans alternative. The process is secure and based on applicable federal and tribal regulations, as well as OLA guidelines. Don’t settle for brick-and-mortar or payday loan options in Utah when you need access to funds quickly. Experience the difference and apply now with Golden Valley Lending!