If you need cash quickly because of an emergency, you want to be able to get it quickly. Cash advance loans are likely the fastest way to get the money you need. You might even be able to get it in an hour. Here's what you need to know about cash advances so you can get one.
There are two ways to get a cash advance loan.
There are different names for cash advance loans, but they are all the same thing. The basic ideas and methods are almost the same, but each lender may do things a little differently.
A no-fax loan application and a fax loan application have different forms. One of them needs you to send a fax, but the other doesn't. If you want your loan in an hour, like they said you would, you need to be ready to send a fax as soon as they tell you what information to send. For a no-fax cash advance loan, the lender will have to verify your information on their own, which could take up to 24 hours.
How to Get a Cash Advance Loan
The requirements for this kind of loan are pretty much the same no matter where you live. You will need to have worked at the same job for at least two months. Some lenders will want you to have worked there for longer. You'll have to give them an address and phone number so they can check it out.
You will also need to have a monthly income of at least $1,000. If you have a limited income, this can sometimes include things like alimony, child support, and social security checks. This amount will also change from place to place and lender to lender.
You will also need a checking account, which is the last requirement. This account needs to be active, and you should have had it for at least two months. The lender will send your money straight to this account and will also take out your full payment from it.
Get Your Money
After you agree to let them take the money out of your account and they check your information, you can expect to get your money quickly. You will also have until your next paycheck to pay back the loan. They will either take the money out of your account electronically or cash your check.
Before you apply for your loan, you should look into a few cash advance lenders. Interest rates vary a lot. They can be anywhere from 15% to 30%. If you look around, you can find the lower interest rates. Many lenders work with more than one lender, so you'll need to ask before taking out a loan. If you shop around, you can also get your first cash advance loan with no interest. Make sure you pay back your first loan on time, and you'll be able to borrow more the next time.
