While many people take steps to protect their finances from unanticipated, exigent circumstances, it is impossible to make preparations against unavoidable scenarios. For example, an individual may save a certain sum of money every month to pay their car insurance each year, but they may not have funds set aside to pay for expensive and unexpected car repairs. When a situation such as this arises, the money the individual needs may simply not be available. Situations such as these require that individuals get cash fast, and a payday loan may be just the answer.
Payday loans are short-term loans designed to provide financial assistance to those with bad credit. Payday loans, also called Payday Advances, essentially provide individuals with an “advance” on the money they will receive with their next paycheck. It is like a payday in advance. While an individual's employer may not advance them the money they need, payday advance loans will. There are many benefits to using Payday Advances to help meet one's financial needs, and individuals strapped for cash may want to seriously consider applying for a loan. Some of the benefits of Payday Advances are:
- Easy Application Process – many individuals are intimidated by the loan application process. However, they should not be concerned about applying for a fast payday advance loan. This is because the application process is simple, and almost everyone can approved for the money they need. Lenders do not require a credit check, and they do not require potential borrowers to fax documents to them as part of the approval process. The application can be completed entirely online, but the lender can be contacted by phone if needed. The process can take less than 3 minutes, and the individual will almost always be approved the same day.
- Borrowers Determine the Amount of Money They Need – when completing the application, the individual will specify the amount of money they intend to borrow. Available amounts range from $100 to $1,500. Whether an individual needs help with expensive home improvements or money to pay their electric bill, a no fax payday advance is an ideal loan choice.
- Limited Eligibility Requirements – to be eligible for a Payday Advances individuals need to be at least 18 years of age, a U.S. citizen, have an active bank account, and have monthly income of at least $1,000. This helps borrowers ensure they will be able to repay the loan without putting themselves in further financial straits.
- Immediate Access to Loan Money – within 1 to 24 hours, the money the individual requested will be transferred to their bank account. This is why individuals must have an active checking or savings account. Once the money is transferred, the individual may withdraw the money and use it as needed.
- Convenient Repayment Terms – in a few weeks when the individual receives their next paycheck, the money they borrowed through a payday advance loan will be automatically withdrawn from their bank account. Individuals do not have to worry about making monthly payments or deal with the hassle of receiving paper or electronic bills. This will be one less thing they have to be concerned with remembering to pay.
Because of the ease and convenience of Payday Advances, there is really no reason not to consider them when one has a financial emergency. Payday loan money can be used to help with the mortgage or rent, utility bills, gas, or medical needs. When individuals find themselves in a money quandary, they should think about applying for a cash advance loan. Payday cash advances can provide the money individuals need both quickly and efficiently. Consider applying for a cash advance personal loan today.