If you have a below average credit score, you may think payday loans are the only option for receiving a quick short-term loan. Although they can offer benefits such as quick funding to borrowers with low credit scores, they do come with a number of disadvantages. That’s why you should consider Golden Valley Lending’s payday loans alternative. We offer borrowers located in Wyoming and across the country a desirable short-term loan option.
Wyoming Payday Loans Alternative
If you have a below average credit score, you may think payday loans are the only option for receiving a quick short-term loan. Although they can offer benefits such as quick funding to borrowers with low credit scores, they do come with a number of disadvantages. That’s why you should consider Golden Valley Lending’s payday loans alternative. We offer borrowers located in Wyoming and across the country a desirable short-term loan option.
Golden Valley Lending Advantage
Traditional payday loans typically require repayment of the entire amount of your loan plus interest by your next payday. In contrast, Golden Valley Lending spreads your required principal and interest charges out over bi-weekly installment payments. With each payment you make, both principal and interest are paid down. As your principal balance decreases, the amount of interest accruing decreases as well, which results in decreasing payment amounts.
Should you decide to pay more than the required minimum payment or repay the entire loan balance early, we never charge a prepayment penalty. We don’t believe in penalizing clients managing a financial product responsibly. At Golden Valley Lending, our team is dedicated to maintaining transparency with borrowers. We disclose all our loan terms upfront, so you’ll never be surprised with hidden fees when you partner with us.
The Comparison
Disadvantages of traditional payday loans:
- Short loan term – full loan repayment is usually required by your next payday
- Balloon payment – The loan is repaid in a final lump sum payment
- Prepayment penalty – The loan structure makes it impossible to save on interest charges
- Rollover costs – Failing to pay off the loan on-time results in additional fees and charges
Benefits of our payday loans alternative:
- Borrowers with low credit are eligible
- Loan amounts range from $300 to $1,000 for first-time borrowers
- Our loans are fixed-term installment loans repaid in bi-weekly payments
- Receive your funds as soon as the next business day
- Pay more than the required minimum payment on scheduled pay dates or payoff early without prepayment penalties
- Each payment is applied to both principal and interest, so payment amounts decrease over time
- We believe in transparency so you’ll never be surprised by hidden fees
Applying for a Payday Loans Alternative
You can apply for our payday loans alternative seven days a week using a desktop or mobile device regardless of your location in Wyoming. Our streamlined application asks for the information we need to make an approval decision quickly. Golden Valley Lending’s online loan process is secure and is based on applicable federal and tribal regulations, as well as OLA guidelines.
Our proprietary scoring system gives every application special consideration because we know you’re more than just a three-digit credit score. 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.
At Golden Valley Lending, we strive to help borrowers throughout Wyoming. Experience the difference with Golden Valley Lending. Apply now for our payday loans alternative!
