Fitting your monthly salary for everyday expenses is not easy as there are always unexpected money needs that may come in your way. Whenever you run short of budget and you cannot find help from various pawnshops, banks and from your relatives as well, you can always rely on cash advance loans.
These loans are available in a lot of lending companies and the application for this is simple and uncomplicated. In order to meet the customer’s demands, many lenders are offering quick cash advance; you can get the money you borrowed in just a matter of minutes, hours or days. The length of the processing time depends on several factors which includes the following:
The correctness of the application form. The form must be answered accordingly; otherwise the team reviewing the application may suspect you as a fraud borrower which only takes up a long processing time.
The completeness of documents requested. If you submitted deficient requirements, the lenders may further contact you and request for the missing documents; this only lengthens the transaction time. They can also ignore your application for cash advance if they have found it completely insufficient and unfit for approval.
The day that the cash advance application has been applied. Lending companies commonly offers quick cash advance from Mondays up to Fridays, but you can expect slower transactions during Saturdays and Sundays. They expect fewer borrowers during weekends, so there are also few staffs available on these days.
The amount of the cash advance. Higher amount means higher fees, so lending companies prioritize borrowers who are requesting for a huge amount of cash advance. In contrast, some lenders are also carefully reviewing the application for large amounts of cash advance because the amount is a serious money matter that they can’t afford to lose from a fraud borrower. This results to longer processing time; it all depends on the lending companies’ attitude towards the amount of cash advance.
The lending company’s policies, terms and conditions. Some lenders are very strict in reviewing the application of their borrowers so they take up a long time before approving it. On the other hand, some lenders are not so strict in validating the borrower’s application. In the end, it turned out that strict lenders usually have lower fees than the not so strict ones.
In general, the fastness of the cash advance depends on the lending company, so it is crucial to choose for a lender that offers fast transactions. The length of the processing time varies from minutes, up to hours and several days. In most of lending companies, the application takes a day to be approved and if you need faster one than this, it is always easy to search down the internet.
You can also ask your friends about the lenders that they have tried for a quick cash advance; recommendations are the best basis in choosing for the right lending company for you. Keep in mind that there are numerous lenders around so you have plenty to choose from.