Silicon Valley Bank is a division of SVB Financial Group, a U.S. based high-technology commercial bank. The bank was one of the first to adopt electronic cheque processing for its customers. Today, it offers an online Payday Loan option. The bank is presently on the list of biggest banks in the United States
If you have a checking account with the bank and want an advance loan, you can apply online. However, the maximum amount that can be borrowed in this manner is $1500. The application process is simple and quick. Simply submit your bank account number, your name, the address of the bank and your date of birth. Your account holder will be authorized to access your account for further verification.
The online processing of payday loans will allow the account holder to withdraw the cash the same day. In some cases, the online transfer might be delayed until the next business day. If this happens, the borrower can give a written notice to the bank before the scheduled withdrawal date.
Payday loans have been designed to be easy for the borrowers. There is no faxing of documents. You simply provide the bank account number, your name and your address. After receiving your signature, the loan will be credited to your account.
The funds are available to you as soon as your paycheck clears the bank. Thus, you can use this extra cash for any purpose. The advantage of a paycheck advance loan is that the borrower does not need to produce a postdated check. A bank overdraft will be charged. You can choose to make the payoff or wait until your next payday to do so.
When you apply for a loan from a Silicon Valley bank, you need to know the requirements of the lender. Each bank charges different fees. Some lenders require you to open a new account while others don't. The rates of interest vary from lender to lender.
You need to be 18 years of age or older to apply for a loan. You also need to be an American citizen or an alien residing in the United States if you wish to have access to the loan through a U.S. bank. Proof of income is also necessary. You must be able to prove that you have a regular job that pays at least one hundred dollars per month.
To apply for a bank loan in Silicon Valley, you can visit the bank or contact the lender through a fax, email or phone call. You must give the bank a complete application. Some lenders will require additional information such as income tax returns, pay stubs and other necessary documents. The banks will contact you soon so you will have time to make the necessary decisions.
To ensure that you get the best loan available, it is important that you do your research before applying. Understand the entire process. You need to understand how the lender makes their loans. There are several common ways the bank determines a loan's suitability.
They may use your credit score, income and current financial status. A bank evaluation of your credit score and financial situation allows them to provide you with their opinion as to whether or not you are a high risk candidate and if they will provide you with financing. You must also fill out a loan application. The bank will ask you for information such as name, address, social security number, employer and current salary. This information helps the lender determine the amount you can borrow, monthly payments and your credit history.
Your credit rating plays a large role in getting a Silicon Valley bank loan. If your credit score is below average, your bank may consider you a higher risk than someone with an excellent credit rating. However, if your credit rating is above average, your bank has less risk and will offer a better interest rate. Your bank's policies and procedures will help you understand how your credit score and credit history are used in the process of getting a loan.
When you apply for a loan at a Silicon Valley bank, it is always a good idea to have all of your documents in order. These documents include pay stubs, bank statements, utility bills, recent tax returns and any legal documentation that will prove you are who you say you are. You should always shop around for the best interest rate available. When you have found the right lender, make sure you are committed to paying off the loan early to help minimize your chances of losing money when you fail to make your loan payments.Voir la critique complète