Cash advance loans are those loans which are designed to meet your emergency cash requirements when you are over with your funds and are waiting for your next pay day. You can borrow amounts from £100 to £1000 under a cash advance loan. These loans are generally paid within a period of two months. These loans are short term loans and carry higher interest rates but it is the only and the best support which you can look for when you need urgent cash.
Cash advance loans are also know as payday loans, cheque advance loans, no fax payday loans, and many other names. Cash advance loans are generally secured by the postdated cheque for the next payday. At the end of the repayment period, the borrower has the option to either repay the loan amount or request for the extension of loan amount. Lenders charge certain fee for that.
You can use the cash advance loan amount for any of the following purpose:
All these expenses are immediate and can’t wait for the next payday to be served. Cash advance loans gives you cash when you really need it.
To get a cash advance loans you need to have a checking account which should be atleast 3 months old, employment status for 6 months and a minimal amount of income (the amount varies from lender to lender). The online application process is simple as a child’s play. You just have to fill the online application form with your personal information and employment details along with the loan amount required. No faxing of documents is required. It just takes 10 to 15 minutes to fill the application form. The lender will review your loan application and notify you either by phone or through an email regarding the status of your request. And within 24 hours, the cash will be electronically transferred to your checking account.
Cash advance loans are no credit check loans and enable the people with bad credit to finance their short term expenses with the cash advance loans. These people include defaulters, CCJ’s and IVA’s, arrears etc. Also, when these people make timely payments, it adds to their credit score positively.
Cash advance loans are becoming popular day by day as people are unable to meet their personal expenses with their present income and funds available with them.
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