When someone is in need of urgent cash, there are very few sources on which they can rely and depend since time is the enemy in such situations. Most people try to avoid taking loans where they have to produce and submit different types of documents such as salary statements, bank statements and loan repayment history records because it takes many weeks and months to procure them. The hassle and trouble that one has to go through are just not worth it in the end.
However, there is some good news for loan seekers today in that you can apply for a commercial title loan or a Car Title Loan to get fast cash without any heavy documentation and paperwork thus simplifying the entire loan process. A commercial title loan works on the simple principle of giving a loan to an individual against their owned and registered vehicle which is put up as collateral.
To get a complete understanding of the same, let’s understand a few facts with regard to Commercial truck title loans:
- It is a short-term high-interest loan that is given to individuals.
- A quick approval process is a significant feature of a commercial title loan or car title loan. It only takes a few minutes for the lender to review your application and once approved, the funds are released instantly. The time frame usually varies between 2 hours to 2 days.
- There is no credit check required.
- You can borrow 25% to 50% of the value of your vehicle.
- A commercial title loan also has a revolver credit facility
For more details, visit the website now.