How to apply for red arrow loans in USA. Red arrow Loans is a loan program with an large-scale system of approved lenders. It was formerly known as Fast 5K Loans. They provide short-term loans to borrowers in a limited number of states in the US. Currently, it is inaccessible by residents in states such as AR, CT, GA, NY, VT, and WV. They help you get access to personal loans online with a good, fair or bad credit score but will depend on the lender.
You can get from $500 up to $35,000 loan from Red arrow depending on location (state), the lender and financial condition. Red arrow loans allow borrowers to make repayment on monthly installment. They connect you to a whole range of lender based on your circumstances and loan amount.
You also get to receive your loan amount in 24 hours after approval.
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- To qualify for loans from these lenders, there certain requirements you must meet.
- Be at least 18 years old and above
- You must be a US Citizen.
- Have an employment history with $800 monthly income
- Check account for receiving loan when approved
- Minimum credit score requirements of 540
How to apply for red arrow loans in USA
In applying for a loan from red arrow, you are required to fill in a form online. After completing your online application with red arrow loans, they submit it to their network of lenders.
Interested lenders will then contact you with their offers. It will be up to you to review their terms and accept the one which best fits you.
When both parties (lender and borrower) have an agreement and the loan is approved. You will then receive the fund into your checking account the next business day.
Things you need to know when you want to apply for red arrow loans
- You can rely on red arrow loans when you need quick cash.
- You can borrow between $100 to $35,000.
- Red arrow loans accept employment benefits as income.
- Red arrow loans take up to 2 years maturity.
- One disadvantage to this loan is that, it can’t be accessible by military personnel and Non-US Cirizens.