SWIFT makes it easy to get cash in a pinch with its lender-matching services.
SWIFT is a lender-matching service that simplifies the process of securing a payday loan by connecting you with a lender from its network best suited to your needs. With an application that takes roughly five minutes to fill out, borrowers can receive a lightning-fast response and get their funds in as little as one business day.
A payday loan offers a simple way to access a cash advance on your next paycheck and is processed faster than typical bank loan. However, unlike bank loans, payday loans come with exceptionally high finance charges, and are typically due in full on your next payday. So keep in mind that a payday loan is a temporary fix, not a long-term solution.
|Min Loan Amount||$200|
|Max. Loan Amount||$1,200|
|Loan Term||Varies by lender|
|Turnaround Time||Next business day|
|Costs||APR varies by lender|
|Requirements||Must be at least 18 years old and employed or have regular income.|
- Must be at least 18 years old.
- Employed or have regular income.
- Must satisfy the lender’s underwriting requirements.
Benefits of using SWIFT to get a payday loan
- Access to multiple lenders. Because of the expansive network of lenders associated with SWIFT, people who use their payday advance service can get matched with a lender who is appropriate to their financial needs and credit score.
- Quick response time. Within moments of submitting your application to SWIFT, lenders can make a decision on your request. With some lenders, a response may be offered in just a few seconds. With larger requests, response times may extend up to 24 hours, which is still fairly quick when compared to other payday advance services.
- Speedy cash delivery. In most cases, borrowers will have money in their account as soon as the next business day, although exact delivery time is dependent on the lender and your bank. Some lenders also offer delivery of funds through a check, which may take slightly longer.
Features of getting a payday loan through SWIFT
Payday loans through SWIFT are fairly flexible due to the nature of the program. Here are some of the best features of using SWIFT’s services:
- Up to $1,200 for first-time borrowers. In most cases, approved applicants can receive between $200 and $1,200 for their first advance.
- Bigger advances for returning borrowers. Applicants who have successfully borrowed in the past can receive up to $1,200 as a payday advance using SWIFT’s service.
- Connected with tribal lenders. SWIFT is owned by Pomo One Marketing, Inc. which functions under the Habematolel Pomo of Upper Lake. This means they also show tribal lenders who can offer loans to people in states where payday loans are otherwise illegal.
- No fees to use their services. SWIFT does not charge a fee for its lender-matching services, making it easy to apply and access multiple lenders without paying hefty fees or spending a lot of time comparing lenders on your own.
- High standards in security and privacy. SWIFT is committed to keeping your personal and financial information secure. All application information is encrypted and sent through a secure network.
What fees does SWIFT charge?
Applying for loans through SWIFT is completely free. However, the loan provider you sign with will likely charge a financing fee on top of high interest rates. You have access to the complete charges of a loan before signing through a loan offer document. Along with the terms of the loan, this document lists all the fees and charges you might have to pay.
If you find the fees to be too high, you are under no obligation to accept the contract.
How to apply for a payday loan through SWIFT
Applying for with SWIFT can take as little as five minutes, but certain minimum criteria must be met for applicants to be considered:
- You are at least 18 years old (varies by state)
- You are employed or have a regular source of income
Required documents & information:
- Basic contact information
- Source of employment or income details
- Verification of income
- Other financial documents or details
- In some cases, lenders may require a credit check prior to approval, depending on the details listed in the original application.
While there are other ways to get payday advances online, SWIFT offers unique access to multiple lenders using a single application. This is a great program for borrowers who don’t want to spend a lot of time preparing different applications or comparing lenders on their own, but want the benefit of seeing various lenders’ offers all in one place.
Here are some of our most frequently asked questions
Is there anything I should know before taking out a cash advance?
There are a few things you should know about cash advances in order to make the right decision for you and your family.
First, you should generally only take out a cash advance in emergency situations because this type of loan is typically a short-term, one-time solution. If you have structural financial problems that cause you to have difficulty repaying debts, you should consider credit counseling.
Second, you’ll want to make sure you can repay your cash advance in a timely manner. Missing the due date on your repayment will result in additional charges. Avoid digging yourself into a deeper financial hole by taking on debt you can’t afford.
Third, before accepting a cash advance, be sure to read the lender’s terms and conditions carefully. It’s important to read the fine print so you know exactly what you are paying and when it is due.
Can I repay my loan early?
This depends on the individual lender. When reviewing your loan contract, be sure to voice this question as some payday loan lenders charge extra fees for early repayment.
How long will it take for me to receive approved funds?
Funds are usually deposited into your bank account on the next business day. It ultimately depends on the lender and your bank.
Will a late payment on a loan affect my credit?
While not all lenders report to the big three credit agencies that handle credit, some might choose to report late or missing payments. This is at the discretion of the lender, and SWIFT has no control over your loan search once you find a suitable lender.
What happens if I know my payment will be late?
The best solution is to contact your loan provider and inform them. Usually, the lender will be willing to extend the payment deadline and find ways to help you through difficult financial times.