Quick Loans Direct Review

Quick Loans Direct is a newcomer to the small business loans market, having been founded in 2015. It was created by a group of financial industry veterans that felt the traditional business loan route via the banks was just too slow. It now specializes in getting funding as quickly as possible for its clients.

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Table of Contents

    What Loans Quick Loans Direct offers

    There are three different types of loan available:

    • Small business loans
    • Business lines of credit
    • Revenue advances

    All loans are geared towards speed and convenience, and Quick Loans aims to get funding within 24 hours of you submitting an application.

    How Quick Loans Direct works

    You won’t find detailed information on your loan options before you apply, but some basic terms come with all products:

    • Borrow anywhere between $5,000 and $1 million
    • Interest rates start from 5.9%

    Quick Loans is a lending marketplace, meaning you’ll be put in touch with a variety of loan providers.

    This makes it difficult to get more information on specific terms, and no repayment terms are disclosed before you apply.

    You’ll also need to watch out for any additional fees and charges your chosen lender might apply.

    How do I qualify for Quick Loans Direct?

    Your business must’ve been in operation for at least six months, and you’ll need to be making at least $10,000 per month.

    The lender doesn’t list any other requirements, such as a minimum credit score, nor does it state any other assessment criteria.

    If you have bad credit and are worried about your application, we’d recommend contacting customer service before you apply to clarify any issues you might have.

    Quick Loans Direct Pros And Cons

    Pros

    • Funding promised within 24 hours of application
    • Low starting rates
    • Simple application process

    Cons

    • Very limited term information available before you apply
    • Assessment criteria are unclear
    • No credit score requirements are disclosed

    How do I apply for Quick Loans Direct? 

    All applications must be completed via an online form. This should only take about five minutes. Once you’ve uploaded your bank statements, approval and funding will be complete within 24 hours.

    Documents I need to apply for Quick Loans Direct

    Required documentation is minimal in comparison to other lenders. All you’ll need are your business bank statements covering the last three months.

    Quick Loans Direct for bad credit

    This is difficult to say given the provider doesn’t disclose credit score requirements or any of its other assessment criteria.

    It states that perfect credit history isn’t required, but doesn’t go into any more detail.

    If you have bad credit, you’d be better off trying another lender that specializes in helping out these types of businesses.

    Quick Loans Direct customer support

    You can call the helpline or make an inquiry via a customer service email address. The lender also promises to respond to any email queries within 24 hours.

    Conclusion

    If you’re in a tight spot and need money fast, you might want to give this lender a try.

    While many alternatives promise fast cash, Quick Loans specializes in getting funding to you on the same day you apply.

    However, without detailed upfront terms and conditions, it can be difficult to make an informed decision, so you might want to try a more transparent lender.

    Fundbox is a good option for fast cash that makes its terms very clear upfront, and it doesn’t charge any additional fees.