An individual meets requirements of applying for a quick and easy loan if he is 18 or older, has held a job for at least one month, has an active checking account and is a U.S. citizen or permanent resident, according to CashNetUSA. These requirements qualify an individual to apply but do not mean that the individual receives automatic approval for a loan.Continue Reading
Once he meets these requirements, the application process is simple, and he can complete it online, reports CashNetUSA. The applicant supplies his name, address, employer and bank account number, and the provider uses this information to access data that determines its decision on approval of the loan and the amount approved. As opposed to applications for other types of loans, there is no need to fax copies of driver's licenses, pay stubs or other material. The entire application process can occur on a computer or mobile device.
After the completion of the application, the provider offers an immediate response on approval and the amount of the loan approved, depending on the specific circumstances, explains CashNetUSA. If the loan receives approval, the funds go to the applicant's bank account in a short time, often on the following business day. Because of state regulations, providers often do not have licenses to practice in certain states, and applicants should consult state regulations regarding specific qualification laws.Learn more about Personal Loans