Instaloans acts as a broker on behalf of consumers seeking short term cash advances with third party lenders without having to provide a credit history or security on the loan, as is generally required by commercial lending institutions.
Based on approval criteria provided by the lender to Instaloans, the customer is assessed as to eligibility for an advance. If approved, Instaloans provides loan documentation to the customer. Upon fulfillment of the lender's requirements in relation to completion of the loan documentation, Instaloans will have authorization from the lender to forward the cash advance to the customer on behalf of the lender. Upon a cash advance becoming due and payable, the customer must make its repayment to Instaloans, which in turn remits the funds back to the third-party lender to retire the loan.
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