Finding a Instant Loan While Guarding Your Privacy

Many lenders involved in the instant loan business are not reputable, insured lenders but businessmen trying to make a quick profit. In the worst cases, these lenders are scam artists looking to secure your private information without giving you a loan at all. It is particularly important to guard your privacy if you are shopping for an instant loan online by using simple tips and common sense.

Research the Lender

Your lender should have a business listing, aside from their own website. For example, you should be able to locate the lender in the Yellow Pages, in an online business directory or through the Department of Consumer Affairs. You can research the company's address and URL in addition to its name. Type the address into an online mapping program and ensure it is a commercial property, not a home. The address should correspond with the area code listed for the business phone number.  Internet companies have a physical address where the directors are located. Use a source like "" to see which business owns the Internet URL you have located. The owner should correspond with the name of the lender.

Look for a Privacy Policy

Lender websites should list a clear privacy policy immediately accessible on the home page. The privacy policy should state the nature of the business and their intent in gathering your information. The policy will also guarantee they will not provide your information to third parties. This is the best way to protect yourself both from SPAM and from hackers stealing your information. Finally, the policy should state the business is operated within the parameters of state laws. If the privacy policy is absent, do not submit your information. Privacy policies are not a guarantee of good business practices, but the absence of these policies is a red flag.

Use a Short-Form Submission Form

Lenders should offer a short-form option for an instant loan application. This form will not be the ultimate application you use, but it can gather preliminary information about whether or not the lender will do business with you and at what rate. Review the form to ensure it makes sense. Check for organization, clarity, and privacy statements on the form. A valid lender will have created this form with the assistance of an attorney, so it should appear legitimate and well-created. Forms which appear to be translated to English from another language as indicated by a lack of cohesive verbiage are a warning sign.

Do Not Provide a Social Security Number

The easiest way for a criminal to obtain your private information is through your social security number. Too many people give out social security numbers without considering the ramifications. Even saying your information too loud puts you at risk of being over heard. Do not commit the information to writing on an electronic or hard copy form. Some lenders may tell you they cannot provide you a loan without your social security number. While this is true of many mortgage lenders, it is not likely true of instant cash lenders. Walk away if you receive that response.

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