Cash Advance in a Few Simple Steps
A cash advance is the same principle as asking a friend for a loan or obtaining a loan from a bank. The idea is to borrow money for a short period of time and then repay the amount of the loan, plus interest, at the end of the loan period. It’s much easier to obtain than a line of credit or loan from a bank, and comes with less potential for embarrassment and damage to personal relationships than borrowing from a friend. The requirements are simple:
- Be at least 18 years of age
- Be able to prove residency in the United States
- Provide proof of steady income
- Possess a checking account
- Provide a valid phone number
One of the most difficult tasks facing families and individuals alike is balancing a household budget. Managing financial responsibilities such as rent, mortgage, utility, and bills can be a daunting task. At times, people may find themselves short on cash or facing an unexpected emergency that pushes their financial stability to the breaking point.
Cash Advance as a Solution
When tough times come along there are a lot of options facing individuals that can help them solve a financial shortfall. Years ago it would be common for individuals to ask friends or family for a small loan to help them cover a gap in their finances, but doing so would often place a difficult strain on relationships and could lead to embarrassment. Another common option was to seek out a line of credit or unsecured loan from a bank, but this route comes with paperwork, waiting periods for approval, and strict timelines for repayment. As technology has advanced and times have changed, a new option has come to the forefront in the form of a cash advance.
This kind of loan is similar to other loans, yet at the same time it is also different. They are short term loans of up to $1,000. Many are extremely short term and last roughly two weeks. That being said, it is not unusual for a loan period to extend to upwards of a month. If individuals do not have the money to repay their cash advance loan when the period expires, there is also the option of a roll-over or extension to push out the loan repayment date.
Getting this kind of money loan can be superior to other loan options because of its ease. Cash advance providers are not lenders themselves; rather they take your information and go in search of a credible lender willing to provide you with the funds you need to cover a financial emergency. Unlike the application process at a bank that requires financial forms, waiting times, and credit checks, getting a cash advance online takes as little as five minutes with minimum paperwork and no credit score required! The following are just a few of the benefits:
- Fast approval, often in less than five minutes!
- NO CREDIT SCORE REQUIRED
- Direct Deposit of funds
- Loan extensions and roll-overs available
The exact process for obtaining one can differ based upon the institution providing the advance. However, most lenders provide all of the above conveniences to their customers. The approval process for cash advance loans is extremely simple. Individuals need not provide financial or tax information, only proof of a checking account and a job.
Once the application is complete, individuals will have the funds they require deposited into their checking account automatically. In most cases, this is accomplished the same business day or by the next business day at the latest. On top of that, many lenders allow borrowers to establish automated loan repayments directly from your checking account to avoid late fees and other charges. In the event that an individual needs more time to repay their cash advance, many lenders also provide extensions or roll-overs on the loan period.
One of the biggest benefits to a customer is the idea of privacy. Unlike a bank that is likely to inquire about the reasoning for a loan or line of credit, cash advance lenders will never ask why you are seeking a loan. The process is confidential and secure, with all information kept private.
Cash advance loans can be extremely helpful in covering short term debts, unexpected bills, or overdue payments. As with any loan however, individuals should have a repayment schedule in mind before taking out a cash advance. By ensuring beforehand that a revenue stream is available to repay a cash advance on time, individual will avoid late fees and charges that can arise when repayment is not made in a timely manner. This will help put an individual back on path to a healthy financial future.
Cash Advance Now
If you are in need of some cash to cover a gap in your finances or just need some extra money to get you through to your next paycheck, check out Cashadvance.net. Here you will find helpful individuals ready to match you up with an approved lender who can put a cash advance in your pocket A.S.A.P.