Our mobile phones play vital roles in our lives. We can participate in video conferences, send and receive emails, buy different types of goods from other stores, or even get a loan. To this end, several money lenders across the world have developed websites and apps that can be accessed by mobile phones. Through this, individuals and businesses can apply for and acquire loans with ease. The following are some of the best mobile loan apps available in 2020.
iCASH is a mobile loan app that can be accessed from anywhere globally, as long as there is internet access. All you have to do to qualify is to fill out a straightforward form provided on its website. After that, the platform's fully automated system determines whether you are eligible for an instant cash loan or not. If you qualify, you have to sign a loan agreement electronically, after which your loan will be disbursed. For those who need quick personal loans, iCASH may be your go-to solution.
Branch is a mobile loan app that enables customers to request cash advances until their next payday. The app also serves as an avenue to transfer funds, receive funds, and pay bills. To use the app, you need to have a minimum of two months of direct deposits from one employer into a single bank account. Each of these deposits must be more than $40.
Brigit is a mobile loan app that offers cash advances between $80 and $250. It also functions as a budgeting tool that enables you to track your spending. There is also Brigit Plus plan, which provides its users with access to instant transfers, among other features, for $9.99 a month. To qualify, you need to have a minimum of three recurring deposits from a single employer into your bank account.
Dave is a mobile loan app that provides small loans of up to $100 to its customers. While it does not charge interest on its cash advances, it requests optional tips from its customers. To qualify for a loan, you need to have a steady paycheck made by direct deposit and linked to your checking account.
Just like Dave, Earnin does not charge interest on cash advances. Instead, the app asks its customers for optional tips of any amount they consider to be appropriate. It provides cash advances between $100 and $500. To use this app, ensure you have a consistent pay schedule. Also, ensure that over 50% of your paycheck is directly deposited to a single checking account.
Whether you are an individual or business owner, mobile loan apps make it possible for you to get a loan from your phone when experiencing financial hardship. Regardless of what you need the loan for, with these mobile applications, you have a fast, convenient, and easy solution to your immediate financial needs. It is a perk of technology that is available to people who may need financial assistance at one time or the other.