This installment loan article describes how to quickly get a Kansas City installment loan for quick cash when you need cash. Waldo Financial can help you with a Kansas City installment loan.
What does it take to get an installment loan in Kansas City?
Waldo Financial provides the Kansas City area with installment loans. However there are necessary qualifications to get an Installment loan at Waldo Financial.
Kansas City Installment Loan – Requirement #1
There are several requirements when it comes to getting a Kansas City Installment Loan. The first requirement is related to where an applicant banks. Our system that is used for loan processing is unable to work with every bank type. That is why a checking account at a traditional bank that has been open and active for at least 90 days is required.
So what’s considered a traditional bank?
Some banks that are considered to be traditional banks are Commerce, Bank of America, Arvest Bank, Wells Fargo, BMO Harris etc. Please be aware that Pay cards are not considered to be traditional banks. Some pay cards work with our processing system while others do not.
Kansas City Installment Loan – Requirement #2
Another qualification is that you make at least 12 dollars per hour at your job. The 12 dollars cannot be partially made up by tips or commission.
Kansas City Installment Loan – Requirement #3
The third qualification is that the applicant direct deposit at least $1,500 per month into the checking account.
Those are the main requirements that are discussed when an applicant calls in for information about obtaining a loan. Our underwriting group does consider other things when they are determining if you are qualified to get a loan with Waldo Financial.
Waldo Financial will not be a second lender. If the applicant has another loan out with a different lending company, we will typically not issue the applicant a loan. Some exceptions can be made based on the entire situation. Waldo Financial does not like to lend to applicants that have charge offs in their history. A charge off is when the applicant had a loan and did not pay the loan off.
If the applicant has many recent inquiries with other lenders Waldo Financial may not want to lend to that individual.
Our underwriting group also considers the score on a subprime lending report that they run, they like to see a score of 600 or better but sometimes exceptions are made.
Contact Waldo Financial for your Kansas City installment loan. Visit their service center at 8437 Wornall Road, Kansas City, MO, 64114. If you have questions, please call (816) 333-6800.