Four Tips to Make Securing Loan Approval Quickly and Easily

MOLLY T. | June 10, 2024

At some point in your life, you will likely need to get a loan. Whether it is to buy a home, a car, to fund a large home improvement project, or even to pay for emergency expenses, loans are a part of life. But when you are trying to pay for the latter, perhaps a medical expense, some unanticipated dental work, or even a funeral, you need those loan funds fast. And not all types of loans offer instant loan approval

So, how do you decide which type of loan to take out and when? And how do you manage that stressful waiting period, not only wondering if you’ll get approved but when you’ll get the loan funds to cover your financial needs? 

The team at Cash Store has some tips to help you navigate the instant loan approval process easily. We’ll give you the scoop on taking out a short-term cash advance and ensure you have the information you need to make the right decision.

A couple working on securing a loan

What is Typically Required for Loan Approval?

You’ve seen us publish many articles recently about the importance of your credit score and how to get it as high as possible. And the truth is, your credit score is one of the primary indicators of the type of loan you can get approved for. But there are other things that lenders look for when approving loans, too. 

Here’s a pretty solid list so you know what to expect.

  • Credit History/Score: This is a record of your financial behavior, like how timely you pay bills and manage debt. A higher credit score can quickly improve your chances of getting approval on loan applications because it reassures lenders that you're a low-risk borrower.
  • Assets/Savings: Lenders may consider what you own, such as savings accounts, real estate, or other valuable assets. These can serve as security for the loan, making lenders more comfortable granting approval.
  • Income/Employment History: Your current job and income details show lenders your capability to repay the loan. Stable employment and a steady income can speed up the approval process.
  • Existing Lines of Credit or Debts: Lenders will review your current debts, including credit cards, car loans, or other loans. Having manageable debt levels relative to income can make your loan application more attractive.

How Can I Have a Better Shot at Instant Loan Approval?

We understand how stressful it can be when you need money fast and are unsure how or where to get it. And remember, different loan types have different requirements. For example, if you are purchasing a home and applying for a mortgage, you’ll need a lot more information than you will for a cash advance loan or a title loan. Pre-qualify online and save time using our short, secure form.

Here are some best practices that you can take to ensure you are prepared when filling out your loan application but also to increase your chances of instant loan approval.

1. Gather All of Your Paperwork Beforehand

Before you even start filling out your loan application, ensure you have all the necessary documents. This could include identification, recent pay stubs, tax returns, and documentation of your assets and debts. Having everything ready speeds up the process and shows lenders you're organized and serious about the loan. This preparedness can increase your chances for instant approval.

2. Be Prepared to Explain Any "Red Flags" on Your Application

If there are any potential red flags in your financial history, such as late payments or significant debt levels, be ready to explain them. Providing a reasonable explanation for these issues can ease lenders' concerns. It's better to be transparent and upfront about your financial history to avoid surprises that could delay or prevent loan approval.

3. Secure Collateral or Co-Signers Ahead of Time to Include Them on Initial Application

Having collateral or a co-signer can greatly bolster your loan application, especially if your credit history is imperfect. Secure these before you apply, and include them in your initial application. Collateral offers security to the lender, while a co-signer adds credibility to your ability to repay, both of which can expedite the approval process.

4. Ask Questions from Your Potential Lender to Determine Issues Beforehand

Don’t hesitate to ask your lender detailed questions about the loan application process. Reviewing a lender’s FAQ and understanding their requirements and potential hurdles can help you address issues before they become problems. This proactive approach clarifies your doubts and can streamline the approval process, helping you secure the loan faster.

A person getting a loan approved

Cash Store Offers Fast* Loan Approval on Cash Advance Loans

If you are in need of fast funds, a cash advance loan from Cash Store might be just the answer. To get started, complete our prequalification application today. You may be able to receive your loan funds in as little as 20 minutes.

*Availability of funds may vary by financial institution and final review of your documents.

The content on this page provides general consumer information or tips. It is not financial advice or guidance. Each person’s circumstances are unique. The Cash Store may update this information periodically. This information may also include links or references to third-party resources or content. We do not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.

More Articles

Gig Worker Guide - How to Get Started

Gig workers are becoming more common, as people find the benefits of flexible scheduling, earnings potential, and more. Learn more in our 2024 gig worker guide.

Read More >

How Can I Check My Credit Score Online?

Your credit score is essential to so many financial decisions and opportunities. Here’s how to check your credit score online with ease.

Read More >

Avoiding the Pitfalls: How to Use Short-Term Loans Responsibly

Short-term loans are an essential financial instrument for navigating financial challenges when used properly. Here’s how to use short-term loans responsibly.

Read More >

Trusted provider of cash loans since 1996


Connect With Us

Loan Amount is subject to loan approval. Loan terms and availability may vary by location.  Approval rate based on complete applications received across all Cash Store locations. Customers can typically expect to receive loan proceeds in less than 20 minutes; however, processing times may vary. Loans / Advances are provided based on approved credit. Each applicant for credit is evaluated for creditworthiness. Vehicle is subject to evaluation for title/auto equity loans.

Please see the Licenses and Rates page for additional product details.

Cash Store offers consumer credit products that are generally short-term in nature and not intended for long-term borrowing needs.

In Texas, Cash Store is a Credit Services Organization. Loans are provided by a non-affiliated third-party lender. Please see the Licenses and Rates page for links to Consumer Disclosures and choose the one for the product and amount that most closely relates to your loan request.

Customer Portal residency restrictions apply. Availability of funds may vary by financial institution.