Big Picture Loans - Cash Loan from BigPictureLoans.com
A payday loan form BigPictureLoans is simply a loan that you get from a business that is not a lender, usually a loan store. It’s called a payday loan, because it’s a cash advance that is just enough to get through to your next paycheck, upon which the money is due. The target market for these types of loans are people are lower middle class or those who barely make minimum wage each month. Unlike conventional loans that are planned for months or even years in advance, these ones act as a short fix until you’re paid. The main risk of using payday loans is that borrowers run the risk of becoming heavily dependent on them.
With the proliferation of Big Picture Loans online payday sites, lenders are trying to woo potential customers with promises of easy access money at very affordable interest rates. A potential borrower should opt for a site that guarantees the lowest interest rates with a seamless and fast application process. The need for a payday loan usually arises in response to an emergency situation such as unexpected medical bills late in the month.
Big Picture Loans is a payday loan matching service, which offers a very fast loan application process that guarantees the borrower access to their loan money within the first 24 hours after applying for the loan. They operate within the United States (this service is not available in all states) but they also have offices in neighboring Canada and the United Kingdom as well.
Bigpictureloans.com should not be confused as a lender or any other conventional financial institution. They operate a free access user website where any potential borrower will be required to provide personal information and specify how much they want to borrow. Borrowers have loan amounts ranging from $500 to $1000 but this will depend on the state laws surrounding loans in the borrower's area of residence. The site boasts of using 256 Bit Encryption which is advanced, industry-recognized security and encryption technology designed to ensure that their clients’ personal information is secure and well protected during submission.
Borrowers will then be matched to lenders that match their criteria through a running a series of credit checks on their personal financial background to see if they qualify for the service. To get access to this network of lenders in the Big Picture Loans, there’re a few prerequisites that potential borrowers have to satisfy in order to be granted approval on the site.
According to the ‘How It Works’ section of the www.Bigpictureloans.com, borrowers must:
- Be employed at your present job for at least 90 days.
- Be a US citizen or a permanent resident, and over the age of 18.
- Have an income of around $1,000 per month after tax deductions.
- Have a checking account in your name.
- Provide a working telephone number for your home and work.
- Provide a valid email address.
Feedback in regards to the borrower’s loan status is usually delivered in less than an hour. After a borrower has been linked from BigPictureLoans, he or she will be contacted to supply the lender with additional information that they might need to process the loan such as verification of employment and pay slips.
It is the borrower’s mandate to ensure they have a full understanding of the lender’s Terms & Conditions and so they should respond accordingly on whether they will accept the loan. They insist that you should only accept the loan if you can make the loan payments in full and on time. Otherwise you will run the risk of incurring late payment fees and ruining your credit score.