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Difference Between a Payday Loan Broker and Payday Loan Direct Lender

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Kimmy Burgess
Difference Between a Payday Loan Broker and Payday Loan Direct Lender

A payday loan broker is really a professional payday lending referral service. They are not really brokers at all. This term is misused by many people, including direct lenders. A payday loan referral service accepts applications for loans, collects required personal information, and then presents this to their wide array of lenders to find a loan for the person requesting it. A direct lender is exactly what it sounds like. It is a business or person that has funds and releases them directly to a bank account upon loan approval. Not everyone who requests a loan will receive one, no matter who they use for their loan request.

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Kimmy Burgess
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