Benny’s Payday Loan Reviews

Benny’s Payday LoanBenny’s Payday Loan claims that they will loan you anywhere from $100 to $1000 when you need it most, and that you don’t need good credit, just a job and a bank account. This puts them on par with other online and payday lenders that can come through when you’re in a tight fix.

As a borrower, you have the pick of the litter when it comes to lenders. Since they’re all basically selling the same product, it really comes down to the little things like customer service, and how well you’d rate the transaction once it’s completed. A lot of borrowers take out loans again after they initially pay back, so you might find that you end up becoming familiar with the staff, and this is where you’ll notice more if they’re giving good service or not.

One of the things you’ll notice about Benny’s is that they go one extra step and give you a lot of useful information about payday loans, managing your finances, and how the process works if you’re a first timer. We always look for these value added extras that are often absent at most lender’s websites. These details tend to represent a company’s overall philosophy, and to us it shows a sincere effort to want to educate and inform the potential borrower, as well as sell them on the service.

Benny’s Payday Loan Reviews

All six locations for Benny’s Payday Loan are located in Texas, more specifically El Paso, Texas. In the financial world businesses are either expanding or shrinking, and it seems that Benny’s is on the rise. When it comes to a franchise business like this it doesn’t take a rocket scientist to figure out that more stores means more money. So you can expect to see more of these popping up in the future, and expanding their reach through the rest of the state, and perhaps branching out into other states.

Mostly Positive Signs
Benny’s Payday Loan has a lot of things going for it. They’ve got a secure online application so you don’t have to worry about whether your information is secure or not. They’ve got real physical locations so you know that they are practicing business well enough to stay in business and keep the lights on. This may sound like a silly point, but when it comes to an online-only lender how can you really know if they are trying to run a real business, or just trying to collect your information in a scam?

When a company as a physical location, or in this case 6 of them, you know that they are dotting their i’s and crossing their t’s. It should be more comforting to do business with a company like this, rather than trust your information on a flashy website for a company that only has customer service through email, and no physical presence to voice a complaint to.

Not a Direct Lender
One interesting thing of note is that they say your loan will be processed by independent lenders, which leads one to believe that they are not a direct lender, and are using a network of lenders to service your account. However, they seem to be a sort of hybrid, since they’ll apparently be the ones giving you the money, and you pay it back to them, so perhaps they are just having the loans underwritten by a third party.

Our Recommendation
If you’re in the El Paso area and are looking for a short term loan, it’s worth sticking your head into one of their retail locations and seeing if they can meet your needs. You can always get your application started online, but we recommend going in whenever possible, as it builds a rapport with the local staff, and if you ever run into problems with payment they may be able to work with you more if they have a face to go along with the name.

Other options would be national lenders that have offices in the area, or online-only loans, but these often come with higher rates and fees, and less friendly payback dates, as well as wanting to deposit and withdraw the funds into your back account. Show up in person and you can get the cash.

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