How Do I Know If I'm Eligible For An Unsecured Loan?

Getting a loan can be stressful, but an unsecured loan makes the process simple, enabling you to get emergency cash without using collateral.

The concern for many borrowers is how to get approved for an unsecured loan. Thankfully, Nevada Title and Payday Loans, Inc. makes the process convenient for individuals in need of urgent cash. Our requirements are simple and only ask for three easy requirements: a valid ID, your most recent paystub, and a blank check or recent statement from a checking account in your name.

Banks and other financial institutions are usually stricter. They want you to be employed with the same company for at least a year and want a credit score that falls at least in the fair to good range.

If you’re wondering if you can gain eligibility for an unsecured loan, keep reading to discover how Nevada Title and Payday Loans, Inc. can provide two convenient options.

Am I Eligible For An Unsecured Loan?

There are two options for those wanting an unsecured loan in Nevada, and both are open to those still determining eligibility. At Nevada Title and Payday Loans, Inc., we offer two types of unsecured loans: a signature installment loan and a payday loan. These convenient options can help you get emergency money, especially if you do not have collateral — like your home or car — to secure a loan. Let’s break down how each unsecured loan works in more detail.

A Signature Installment Loan

At Nevada Title and Payday Loans, Inc., we offer a signature installment loan that will allow people to borrow up to $1,500. A signature installment loan functions much like a personal loan at a bank. You pay a set amount for several months until the loan is repaid.

One feature of a signature installment loan is that it usually offers more money than a payday loan because you are repaying it over several months than in one lump sum. It is available to those who are at least 18 years old. Those applying for this loan will need three items:

1. You will need a license from Nevada or an ID issued by the state.
2. You will also need to prove your income, and the best way to do that is to bring in a current stub showing your pay.
3. You will also need an unused check from an open checking account with you as an account holder.

Unlike payday loans, installment loans will include a loan representative doing a credit check. You will need to talk with a loan representative to learn more about what that has and the eligibility standards on credit checks for this type of loan. We welcome borrowers from all credit backgrounds to apply!

Payday Loans

Those concerned about eligibility for a signature loan can apply for a payday loan. The amount for borrowing on a payday loan is smaller with this company than with their signature loan. You can borrow up to $500 on a payday loan. The basic requirements for applying for a payday loan are the same as a signature loan.

However, we don’t perform a credit check with a payday loan application because your job is your credit. The loan is repaid with your next paycheck. This is one of the most straightforward loans to apply for, no matter your credit status because your job and pay are the primary factors in determining approval.

The Process Of Applying

The process is the same for applying for either type of loan with Nevada Title and Payday Loans, Inc. Here’s how our convenient loan process works:

1. Start with filling out an online inquiry form on the website. This isn't an application, but it will send your basic information to nearby stores.
2. Our trusted loan representative will call you, and you can discuss your credit history and situation with them to determine which loan may be the best option for you. That will help you determine which you are most eligible to use.
3. You will be directed to a store closest to you to complete a loan application.
4. Bring your required documents to the store.
5. A representative will validate them and guide you through the application.
6. An approval decision will be made while you are there. The application can be completed in as little as a half hour, so it's stress-free without you waiting hours or days for a decision.

If approved, you will receive your emergency cash that same day or the following business day.

Fill Out Our Online Inquiry Form!

If you want to find out if you're eligible for an unsecured loan, fill out an inquiry form and chat with our trusted loan representative. They will be able to answer your questions, and that can go a long way in helping you decide to take out an unsecured loan.

At Nevada Title and Payday Loans, Inc., we can tell you about getting a payday loan or a signature installment loan and can walk you through the process so you are confident in your decision.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.