A payday loan is a form of short-term borrowing you can access even with a low income or low credit score. Find out how GreenTrustLoans can connect you with a lender to fill your financial gaps until payday.
GreenTrustLoans is not a direct lender. Instead, it’s a service that connects borrowers’ needs with short-term and payday lenders in its network.
When you complete an application with GreenTrustLoans, you enter your personal and financial details. If you qualify for a loan, GreenTrustLoans connects you with a lender that it thinks best fits your financial needs.
Once connected to a lender, you review the terms and conditions of your specific loan offer and receive your funds in as little as one business day.
GreenTrustLoans uses encryption to make sure your personal and financial information is secure on its website. It’s important to note that as a loan connection service, GreenTrustLoans may share your contact information with third-parties for marketing purposes.
Please borrow responsibly and only if you will be able to pay the money back. Before agreeing to a loan, please make sure you can make your loan payments in full and on time. We support the responsible use of loans and recognize that nobody knows your situation better than you.
Payday lenders generally do not send your information to the main credit reporting agencies — Equifax, Experian and TransUnion. However, they may send information on your loans and repayments to smaller credit reporting agencies that can be accessed by mainstream lenders when you are applying for credit.
The main danger to your credit scores is repayments. If you’re late on or miss repayments, your credit score could be negatively affected. Your lender may choose to take legal action to bring in unpaid loans or pass your loan on to a debt collection agency, which will affect your score.
In short: It probably won’t help your credit, but it could hurt.