A quick payday cash loan will give you the money you need right away if you need some extra cash to deal with a financial emergency. A cash advance is a short-term loan for a small amount of money that is taken out against your next paycheck. You can use it to pay for any immediate expenses, like medical bills or utility bills, or to keep a check from being returned because it was not enough money.
Competition causes interest rates to go down.
Due to how easy it is to get a quick payday loan, the industry has grown by a factor of ten. Because of this, there is now a lot of competition in the payday loan market. Lenders have been forced to lower their interest rates and treat their customers in a fair and open way. Today, you can get a quick loan for $100 for as little as $15 for a period of two weeks. Not only that, but payday loan companies also come up with plans for new customers that have little or no interest. So it will be worth your time and effort to do some online research in this area.
It's easy to get.
A quick cash payday loan is the easiest loan to get today because you don't have to submit a long project report or go through a credit check. No matter what you want to use the money for, you can get a cash loan as long as you are at least 18 years old, have a permanent address, an active bank account where the money can be sent directly, and a regular source of income, like a salary or pension.
Some companies that offer quick payday loans also have other rules. For example, they might want you to be making at least $1,000 a month. Before you can get some loans, you have to have worked for the same company for at least 3 months. In general, you can get better rates the stricter the rules are.
Payday loans don't check your credit, but you may be asked to fax your bank statement and your last few pay stubs as proof of income. You can also get a quick payday loan that doesn't require you to fax any paperwork. But the rates on these loans are a little bit higher. Even though the difference would only be a few dollars for 2 weeks, it can add up to a lot if you need to borrow a lot of money, like $1000, or if you need to keep your loan for longer than 2 weeks.
