How a cash advance payday loan may help you

If you find that you cannot make ends meet due to an unexpected cost and you keep looking at the calendar wishing payday would come around quickly, you may want to consider a cash advance payday loan.

So, what is it? A cash advance payday loan does what it says on the tin – it gives you a cash advance by way of a loan until your next payday.

When considering a payday loan you have to bear in mind that this type of borrowing is different from a secured or unsecured loan. The latter are longer-term loans, typically repaid over many months, with larger sums of money involved. These can take several weeks to get set up.

Short-term cash

With a cash advance loan, you are applying for short-term borrowing to see you through until your next payday. You may need money immediately, for instance to meet an unexpected bill or emergency repair, which you may otherwise not be able to cover until your next payday.

A payday loan is not intended for those who are suffering from debt or long-term financial problems. They are more for emergencies when, due to the unexpected, you cannot stretch your money out.

When you apply for cash advance payday loan you are agreeing to repay the borrowing, fees and any interest back when your next payday arrives or typically within a set period of time. The entire application process can often be carried out online so can be arranged almost immediately, without the need to wait for paperwork to be sent out.

No faxing payday loans

You typically sign the agreement online (also known as ‘no faxing payday loans’) or in certain situations, you may be required to fax back the agreement or other documentation. Once the application has gone through the lender may transfer the money directly into your bank account within 24 hours, in some cases perhaps just a few hours. The lender then takes the loan amount back from your debit card, which is needed when applying, along with any other costs, on the agreed date.

The payday loan company may state that you need to meet certain criteria when applying for a cash advance payday loan so. For instance, they will usually require that you are aged 18 or over and in full time employment, with a US bank account and linked debit card.

A cash advance payday loan may be a solution for you if you are experiencing short-term financial difficulties and need cash in a hurry.

Payday loan companies offer fast cash

Have you ever found yourself struggling with the lack of money waiting for your next payday? Many individuals are faced with this if something unexpected crops up which requires an immediate outlay of cash. If you do not have a large overdraft or do not have friends to rely on to help you through to payday, you may wish to turn to payday loan companies.
Who are payday loan companies?

Cash advance payday companies are lenders who offer those facing short-term cash difficulties the chance to borrow from their next pay cheque. You may apply for a small loan (around $100 – $250 but this amount does vary among providers) if you need cash fast and you have a couple of days to wait until you get paid or if you fall short of money unexpectedly soon after payday.

This of course is very different from a typical type of loan, where you are generally able to borrow larger amounts of money and spread out the repayments over many months or years. The payday loan is a stopgap until your next payday when the unexpected occurs and you find yourself short of money. Payday companies are there to offer a helping hand to see you through your short-term financial difficulty.

How do I apply for a quick payday loan?

Companies offering quick payday loans often allow you to apply for a loan online (saving lots of paperwork and being eco-friendly to boot!). You simply fill in your personal information (which will include your bank account and debit card information), the amount you wish to borrow, and the lender typically gives you an answer there and then.

If you are approved for a payday loan, you typically sign the loan agreement online so you do not have to wait for paperwork to be posted out, which speeds up the process. You may often receive your loan in your bank account on the same day as applying. If your bank does not accept instant transfers, then the money will hit your bank account on the next day.

Payday loan companies typically ask that you are over 18 years of age when applying for the loan and that you earn at least a certain amount of money each month. There may be other criteria stipulated so always check with your chosen company.

The instant cash loan is repaid to the payday loan companies via your debit card, on the pre-agreed date. It may be a quick and efficient way to get much needed cash when you need it.