Facts about guaranteed cash loans include the fact that legitimate lenders and financial institutions can't claim that anyone is guaranteed a loan, the Federal Trade Commission notes. Banks and other financial institutions always evaluate credit before determining whether or not an applicant can obtain a cash loan.
When searching for cash loans, applicants should be leery of banks and lenders that don't want to see the applicants' credit histories, the Federal Trade Commission explains. Applicants should also be concerned with banks that don't fully disclose the fees attached to a loan. Any up-front fee that a lender asks for in return for the loan is a sign that the loan is a scam and applicants should stay away from those offers.
Lenders that don't want to check a credit report but still want personal information, such as a Social Security number and an address, are also loans that applicants should not consider. If a lender calls an applicant and offers a loan over the phone, that type of solicitation and lending is illegal in the United States, the Federal Trade Commission warns. Applicants should also make sure any lender they are considering doing business with is a lender legally registered with the applicants' states.