Banks vs Online Lenders: How Long Does It Take to Get a Fast Loan Kitchener Ontario

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When you have an emergency or a sudden expense to deal with, it’s helpful to know where you can borrow money and how long before you can get the needed funds. Your two best options would be a bank loan or an online lender. However, their application process differs so it’s vital that you understand how long it will take to get a fast loan Kitchener Ontario.

How Long Will I Wait? 

  • Application Time: Online lending companies are renowned for their easy and swift application process. Filling up a form and sending your requirements can be done in minutes. You can even opt to send photos and videos of the collateral in lieu of a physical inspection. Meanwhile, conventional lenders still have paperwork, so there’s no instant verification.
  • Approval Period: You can get approved anywhere from 15 minutes to several hours with a special financing auto loan. Because there’s collateral, many lending companies don’t do extensive credit checks. Banks take much longer to review applications. They’ll need several business days to verify your personal data and credit history.   
  • Funding Process: The lending company will quickly release your loan after approval. At most, you’ll only have to wait 24 hours for the money to be deposited in your account. Banks take much longer, and you might have to wait several business days.

Borrow More Money Than Any Competitor has to Offer

Get the loan you need in just one day with Canada Car Cash. The company specializes in title loans and can provide you with more money than other lenders. Their interest rates are70% lower and they have affordable monthly payments. You can get the funding you need within the day and retain the use of your car. Sign up on their website or call their toll-free number at 1-844-598-7631.

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