There’s no doubt that an instant cash advance can greatly help in emergency situations which can unexpectedly happen to everyone. And of all the points in life that people are most likely to prepare for, it seem that most people can’t prepare enough for financial emergencies.
Some of the emergencies that often lead to financial difficulties are sudden medical expenditures, soaring utility bills, unexpected home and car repairs, and other situations that can turn your savings into zero balance. Once any of these situations occur and there’s not enough fund to meet these needs, it can really make the person feel devastated and stressed out. And this is where the instant cash advance comes to the rescue.
Instant cash advance is also called same day loans and payday advance loans. This type of loan is intended to supply people with emergency funds that can range from $100 to $1,500. Typically, the loan money is transferred via the borrower’s checking account.
The repayment is expected on the borrower’s next payday and the loan amount must be fully paid on the said payday. However, you have to expect higher interest rates with this kind of loan. The higher rate is quite understandable as there is no collateral when the loan was granted. Moreover, there is less requirements compared to traditional loans and this is what makes this instant cash advance loan readily available in just a few hours after the application.
In general, the basic criteria for getting the loan are:
1.The applicant must be employed and earning a regular salary.
2.Must be earning a specific minimum amount per month, as required by the lender.
3.Must be 18 years old and above.
4.Must have a savings or checking account in good status.
There’s no need to provide a number of credit references or state your reasons for requesting the loan. You just have to fill up an application form and provide them with some personal details and that’s it. After you have submitted your application form, it will be process and assessed, then they will contact you if your loan was approved or not.
At any rate, here are pointers to keep in mind when looking for a good lending company:
Search for lenders or lending companies that provide instant cash advance, and this means real fast loan approval that will not let you wait for a long time. In addition, take a closer look to see how much time will it take before you can expect to be granted the loan. Normally, based on the time that you have applied for the loan, you can have the money on the same day.
One more thing, you must make time to research in order to find out how long that the lending firm in question has been in business and if they have been operating online for long. Definitely, the companies that have been around for years can be trusted since they will not be able to survive that long if they are a bad company with a few or no customers at all.
Finally, make it a point to check the terms and conditions of the company before you go on and seal the deal with them. In this way, you will be able to prevent any problem with the company which could arise after you have already signed up with them.