Sometimes, no matter how hard you work, unexpected situations arise that require additional funds. You might need an emergency home repair or experience a serious and unforeseen medical issue. The point is, you never know when emergencies are going to creep up on you. Getting cash can also be challenging if you have a poor credit history. Fortunately, there are options to help you get through times of need. If you don’t qualify for a traditional loan, there are direct lenders for bad credit personal loans. Most direct lenders have easy online processes you can use to place your application. These are seven things you will need when you apply for an online loan.

1. Proof of Identity

The first thing you’ll need to have when you apply for a loan is proof of your identity. The lender will want to ensure that you are at least 18 years of age so that you can sign a contract legally. A driver’s license, passport or government-issued ID will help to verify to the prospective lender who you are.

2. Proof of Residence

You will need to establish your residence with the prospective lender. They will want to know where you live because each state has different laws regarding payday advances and other short-term loans. Therefore, you may want to bring your lease agreement, bank statement, automobile registration or something similar to prove that you live at a certain residence.

3. A Secure Source of Income

A prospective lender will want you to have a secure source of income. Some lenders are strict and may only approve loans to people who have steady jobs and have been on those jobs for several months. Other lenders may go ahead and approve a loan for someone who gets social security, child support, SSI or some other kind of reliable income. The lender’s main concern is that they can get their money back when the time comes. You will be likely to gain approval if you can prove a steady and reliable income.

4. A Qualifying Income Amount

Many providers also have a certain amount that they would like to see their applicants earn each month before they approve an advance. The amount can vary, but a range from $1,000 to $2,500 is not uncommon.

5. Proof of Income

You will likely need proof of your income to show the prospective lender when you apply for your advance. The usual proof of income can be something as standard as past pay stubs. You can also show them your monthly statements if you receive something such as SSI or SSDI.

6. A Good-Standing Bank Account

If you want to receive a loan from a short-term lender, you will usually need to have a good-standing bank account. By good standing, we mean that it should be open for at least 90 days. Over those 90 days, it should not have had a negative balance in it. Furthermore, the bank account should have a current positive balance. Again, this information and status lets the lender know that they can count on receiving their funds back when the time comes.

7. A List of Personal References

Finally, you may want to bring with you a list of reliable references. References are people who can speak on your behalf about your reliability when it comes to loans and funding. Lenders usually ask for at least three names of family members or non-family members that they can contact if something goes wrong with your loan agreement. Make sure that you have the addresses and phone numbers of these individuals in case the prospective lender decides to contact them before they make a decision about your advance. A lot of lenders will not contact these persons unless you default on your advance.

If you have all of the above-stated elements, you are most likely prepared to submit a loan application. However, it’s important to remember that each lender may require a different set of qualifications from potential borrowers, so it’s important for you to look into the requirements for each specific lender before you apply.

While lenders are there to bridge the gap between payday and unexpected hardships, remember to save money every paycheck and only use short-term loans when absolutely necessary.