When the global disease, well-known as COVID-19 or Coronavirus, started spreading worldwide, many corporations began to implement new regulations into their policy to prevent its contagion among their customers. Entities that have become considered as the potential epicenter of the virus spread are financial institutes. Following the World Health Organization’s (WHO) recommendations, many people decided to stop using cash and opted for credit cards or online payments.
However, there are still some financial procedures that usually require people to visit banks or official branches in order to use the needed service. Considering that more than 9 million people struggle with economic issues because of redundancies and business closures, the most commonly used function is considered borrowing from traditional lending institutions to cover urgent bills and afford to pay for daily utilities.
In order to prevent giant “pandemonium” in enclosed spaces or long lines at doors of local branches, people in need have been provided with different options designed for using the required service without worrying about possible contagion. One of the prime examples is the American online loan connecting company, 1FirstCashAdvance. The organization was initially intended to provide its customers with the opportunity to request the available loan products, such as no credit check cash loans or bad credit payday loans without going out of their homes.
The company’s customers are welcome to choose between different cash advance options and apply for the desired loan product using an easy-to-fill online application form. All the processes are conducted completely online that allows people to avoid standing in lines and meeting customer support representatives or loan agents person to person. Consequently, it significantly minimizes any risks of becoming infected by COVID-19.
Alongside 1FirstCashAdvance, many other financial institutions consider using online platforms to deal with their consumers, thus ensuring the protection of their health during any contact. However, such traditional lending institutions as banks and credit unions still adhere to lending standards requiring borrowers to visit offices and fill out all the necessary documents in real life. Despite the applied measures, most consumers prefer to stay away from large crowds of people or any external communications and close contacts, which causes the impossibility of obtaining the needed financial assistance.