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Get Guaranteed Unsecured Loans Into Your Bank Account in Less Than 24 Hours

Written By bosq on Monday, July 28, 2014 | 10:50 PM


People do not tend to apply for loans unless there is a need for them. The problem is when the need is something of an emergency and waiting for approval on a loan is not a help. This is where the promise of guaranteed unsecured loans lodged into the account of the applicant fast is so important.

Knowledge on how to achieve fast approval is something that we would all like to have, but the truth is that it is down to the lenders to set the time scale of their approval or rejection. So, for fast unsecured loan approval the secret lies in the lender, not in the information the applicant supplies.

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The reason for this is partly down to the progress made in technology and partly down to the level of competition that exists in the lending sector. Where once banks happily followed a standard procedure, the rise of the small lending brokerages and online lenders means that speed is now more important when getting approved loans without security.

Traditional vs Online Lenders

The reasons already mentioned for the differing levels of speed in issuing approvals on guaranteed unsecured loans related to technology and competitiveness. This is chiefly due to the rise of the internet, where everything is expected to be done within minutes rather than days.

There was a time when a 3-day waiting period was acceptable to individuals applying for loans from a bank or credit union. Now even these traditional lenders are expected to offer fast unsecured loan approval, with most promising a decision within 24 hours.

Online lenders can even offer approved loans without security in just one hour, making it possible for the loan funds to be transferred to the account of the borrower within a few hours. So, at 10am the application is lodged; at 11am approval is received; and after lunch the money is in the account and accessible.

How Approval is So Quick

A quick decision is down to procedures, which is why traditional lenders still lag behind online alternatives. The title of guaranteed unsecured loans suggests that approval is certain, but nothing can be issued without the green light given. For traditional lenders, that means a careful look at the credit history of the applicant.

While this once took more than a day to find and research, electronic access to such data means the details can now be checked within a few minutes. But even fast unsecured loan approval needs to be rubber stamped, so bank personnel need to forward the relative paperwork.

Most online lenders offer no credit check loans, meaning the credit history of the applicant plays no part in issuing approved loans without security. So, the time taken in checking the history is used up by other things - chiefly confirmation of employment and income, and the existence of an active bank account.

Be Careful

Even the addition of collateral would have little effect on the speed of online approval process, making the moniker of guaranteed unsecured loans very apt. However, that does not mean that everything can be taken for granted.

As part of preparing the application, it is important that the lender is checked out too. Offering fast unsecured loan approval is not too good to be true, but can be taken advantage of by scammers and unscrupulous lenders. So, be sure to read the small print and check with the Better Business Bureau. That way approved loans without security really is good news.

The availability of guaranteed unsecured loans reduces the stress of accessing much-needed funds immediately, allowing any emergency to be dealt with.


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