Emergency expenditures are uncertain and inescapable. In such a situation you need ready cash to assist you. What do you do? You may want to consider a cash advance or a payday loan. As the name suggests it provides cash in advance and the payment can be made on your next paycheck. With technological development there are a number of online cash advance loan lenders that you can browse through and apply instantly.
There are certain criteria that needs to be met to qualify for an online cash advance loan they are stated as follows:
– You have to be an employed person for at least 3 months or more;
– You have to be 18 years and above;
– You should be earning an income of at least $1000 per month;
– You should have at least three-months-old saving or a checking account having direct deposit facility;
– You must have a proper identification.
On fulfilling the above-mentioned criteria your application is approved and you are entitled for the online cash advance loan, which ranges from $100 up to $1000 (for personal/installment loans – upto $5000). The repayment of these loans can be within the time span of 10 to 20 days. There are generally two ways on how your loan can be paid. First, you can write a post-dated check at the time of the origination of the loan. And second, you may give an authorization to withdraw the amount electronically from your account.
Online cash advance loans are short-term and instant ones. The interest rates are generally higher than that of the usual and conventional loans available in the market. It ranges in between 10% to 30% of the loan amount. Keep in mind that if there is any default in your payment the interest rate may rise depending on the amount of the loan taken. The interest rate can increase even up to 600%.
The advantages of an online cash advance loan can be stated below:
– It has no thorough credit check, even if you have a bad credit you can avail the loan;
– It is quick and it does not require any documents;
– Save time and save the headache as it is obtained against the paycheck of the borrowers;
– The transferring process takes only a day to transfer the cash to the borrowers account, even when it mounts up to $1000;
– Even bankruptcy, bounced check, charge-offs and other credit hassles cannot stop you from getting the loan.
You need to be aware that online cash advance requirements varies from one lender to another lender. Therefore, it is advisable for you to shop around and compare online cash advance loans until you find the right one that best suits your needs, which includes the best rates such as interest rates, fees and other charges.
These online cash advance loan are available 24 hours a day and 7 days a week for you, they are there whenever you need them at your service whenever is convenient for you. You can apply either at home or at work and get your online cash advance loan instantly.
If you are not from Compton, then you can find urgent short-term loans in other California cities on the 24Biz website (there is a list of direct lenders with addresses and telephone numbers).