A good cash advance network is like an exceptional piece of leverage we can count on when money becomes lacking as a result of mere life. Basically, what they are is a partnership among lenders where they work together as a grouping to service potential short term loans online.
Moreover, they can and do directly compete amongst each other for your business that is valuable to them. However, is there a stark difference between utilizing cash advance networks, and going right to direct lenders? Many will say there is much different because the nature of the direct lender online has the potential to serve all of us better, but when we look a little bit closer, does it really?
Cash advance lenders are all geared to serve you the same as they do with any other bank or lending institution in the ‘brick and mortar’ world. They make money first and foremost through interest attached to the lending of money. The process is pretty much the same online but when you fill out an application, sometimes you don’t know whether you are dealing with the lender directly, or you are working with a conglomeration of lenders.
One of the major disadvantages associated with using a direct lender is that they will charge whatever they in comparison to what others may offer. They have a high close ratio and can service their customers more readily because they are the bank. Though, the major upside to an advance network is that they will clash with each other to drive the cost of doing business with you downward in order to get hold of it.
The result is, there is an upside to both, but if you want competitive elements that keep prices to a minimum, you may want to forgo a direct lender and go with a network designed to do only that.