Technology is used to make the world a better place. It’s something that the world must be grateful for because of the good things that it has made possible. One of those is the ability to apply for online loans.
What this means is that you no longer have to spend hours sitting in a bank or financial institution and filling out countless paperwork to obtain a loan.
You can access everything you need online. These days, the process is made even more convenient with the development of mobile apps.
iCASH Canada is a company that has created a mobile app to make loan applications more accessible to consumers. This feature is crucial, especially nowadays when transactions must be processed digitally to avoid the spread of COVID-19.
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How iCASH Makes It Easier For People To Borrow Money
Here are some ways that the said company is making it easier for people to borrow money during emergencies:
1. Easy Application
There are a lot of apps available today that are designed to help borrowers get the loans they need. They’re becoming a preferred option to apply for loans as these software programs provide a lot of benefits, such as quick and easy application.
One thing that makes the process of applying through mobile apps so advantageous is that they’ve been designed in such a way that it’s compatible with most smartphone software versions today.
This means that even if you have an older version on your phone, you’ll still be able to access these types of loans without any problems.
The feature is crucial for emergencies, which is when you’ll most likely need to get a loan quickly. This is because you won’t have to waste time going to the lender’s office, and you can apply to borrow money on the spot through your mobile phone.
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2. No Paperwork Required
Another primary advantage that online loans have is that there’s no paperwork required. This is something that has caused problems for people in the past. They had to leave their offices or homes and go to a physical bank to apply for a loan.
Plus, they had to spend time preparing the necessary documents for the application process. It took time and money, which meant that many people were never able to get the type of loan that they needed.
This new technology has solved this problem. Now, you can apply for a loan while you’re at your desk. There’s no paperwork involved, plus there’s no waiting period. No more waiting until your paperwork has been signed or until the bank sends it back to you.
When you’re using an application that’s designed to be used on your mobile device, you can simply sign up, fill out the necessary information required, submit your application, and, then, you’re ready to go.
There’s nothing more frustrating than being told that you need to submit your application a week or two after you signed up, only to have your application rejected because you forgot to submit your documents.
Fortunately, today, you can apply through mobile apps while you’re in your car, on the subway, or even while you’re at home with the television on.
Most of the time, you can receive the lender’s feedback before you arrive at your destination or finish the show that you’re watching.
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3. Quick Approval
Another thing that makes using iCASH so convenient is that they offer processing services via mobile apps as well. This means that you’ll not have to worry about anything while you’re waiting for your application to be processed.
This is because the lender can receive your loan application and process it in real-time so that you don’t have to wait for an extended amount of time to receive the money you need.
Aside from quick approvals, mobile loan apps are also accurate. You might have gone through the frustration of having to waste time sending your application and documents back and forth with the lender because there was a mistake in the form.
With mobile applications, however, you won’t need to worry about this type of error since the app will immediately prompt you if you missed answering a required field or made a typographical error. So, you can amend your mistake, submit the form, and wait for nearly instant approval.
4. Prompt Funds Disbursement
Aside from a seamless application and approval process, mobile apps also provide quick funds disbursement. Often, you just need to type in your bank account details in the form; once your request is approved, the lender can send the money directly to your bank account.
The approval process can take just a few minutes or hours. Afterward, the funds can be transferred to your account. iCASH even claims that the funds will be sent within five minutes, which is useful during situations when you need the money urgently, such as much-needed home improvement projects.
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5. Customer Service
iCASH also prides itself on providing stellar customer service. You can get guidance on how to use their app, as well as have your questions answered by their representatives. This way, you can be assured that you know exactly what you’re diving into when you agree to the terms and conditions of the loan.
There’s nothing better than seeking the services of mobile apps to get loans today. However, it’s important that you only opt for reputable lenders, such as iCASH, who are authorized to give out loans to clients like you.
You don’t want to end up doing business with an illicit company as this will only worsen the financial turmoil you’re currently facing.
It would be best to do some research on these lending companies rather than immediately say ‘yes’ to the first lender you come across. Such is a recipe for disaster.
Technology has improved the ability to get money, but make sure that you know how to use these loan apps properly. There’s a lot that goes into getting the loan, but there’s also a lot that comes with the loan.
You have to be mindful of the process and make sure that you get the best deal for your particular needs. If you liked this post then you may like this post titled: How to save as much money as possible.