What Are the Pros and Cons of Using Direct Lenders?

I’ve had a positive experience with direct lenders, especially when I needed a quick loan. They’re typically faster and more straightforward than traditional banks, which is a huge plus during emergencies. That said, comparing rates is essential, some lenders charge higher interest. I recently came across Birch Lending customer service https://www.pissedconsumer.com/company/birch-lending/customer-service.html , and they stood out for their helpful and clear communication about loan terms, which gave me peace of mind.

I’ve used a direct lender for a personal loan, and the process was much faster than going through a bank. The paperwork was minimal, and I had the funds within a day. However, I noticed the interest rates were slightly higher, so it’s important to compare offers before committing.

Direct lenders seem convenient for personal loans, but I’m curious, what’s your experience with them? Do they offer better rates or faster approvals compared to traditional banks? Are there any downsides to watch out for? Share your tips and stories!