How to speed up the loan process


To complete the loan process as quickly as possible, prepare the documentation and watch out for errors on your application.

Most lenders ask for the following documents when you apply for a loan:

  • Identification: You may be asked to provide one or two pieces of identification, such as a valid driver’s license, passport, social security card, or other type of government-issued identification.
  • Proof of income: bank statements, pay stubs or tax returns
  • Proof of address: A mortgage contract, a rental contract, utility bills in your name or a voter card

As you complete the application, verify the information. Any errors, such as an incorrect number in your bank account, can cause delays.

Payday loans can be quick, but there are other lenders who provide funds almost as quickly. With any of these three lenders, you can get approved for a loan on the day you apply, and then receive the funds the next business day. It’s only a little longer to wait for a much better deal on a personal loan.

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Read our full review for free and apply in just two minutes. We strongly believe in the Golden Rule, which is why the editorial opinions are our own and have not been previously reviewed, endorsed or endorsed by the advertisers included. The Ascent does not cover all the offers on the market. The editorial content of The Ascent is separate from the editorial content of The Motley Fool and is created by a different team of analysts. Ally is an advertising partner of The Ascent, a Motley Fool company. Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Lyle daly has no position in any of the stocks mentioned. The Motley Fool owns stock and recommends Upstart Holdings, Inc. The Motley Fool recommends Discover Financial Services. The Motley Fool has a disclosure policy.

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