If you have an emergency need of cash, then you want to be able to get your cash in a hurry. Cash advance loans are probably about the quickest way there is to get the cash you need. In fact, you may be able to get it in about an hour. Here is what you need to know in order to get your cash advance.
Two Ways To Apply For Cash Advance Loans
Cash advance loans go by a number of different names, but they really are the same thing. The principles and methods are nearly the same but may vary some from one lender to the next.
The applications differ between a no fax loan application and a fax loan application. One requires a fax from you, and the other one does not. If you want your loan within an hour, as promised, you need to be ready to go down to where you can send a fax – after they tell you what information to send. For a no fax cash advance loan, the lender will need to verify your information on their own – which means it could take up to 24 hours to get your cash.
Requirements For Cash Advance Loans
The requirements for a loan of this type is about the same wherever you live. You will need to be employed for at least two months in the same place – some lenders will require more time than this. You will need to provide them with an address and a telephone number so they can verify it.
You will also need to be earning at least $1,000 each month. This can sometimes include other income like alimony checks, child support and social security checks, if you are on a limited income. This amount also will vary between locations and lenders.
The last requirement is that you will need to have a checking account. This needs to be an active account and you will need to have had it for about two months or more. The lender will send your money directly into this account, and will also take out your full payment from it, too.
Receive Your Cash
After you agree to allow them to take the money out of your account, and they verify your information, you can expect to receive your money quickly. You will also be given until your next payday to pay for the cash advance loan. They will withdraw the money either electronically, or put your check through.
You will want to check out a few cash advance lenders before you apply for your loan. The interest varies quite a bit – anywhere between 15 and 30%. You can find the lower interest rates simply by looking around for them. Many lenders deal with multiple lenders so you will need to ask specifically before you accept the loan. You can also get your first cash advance loan interest free if you shop around for it. Be sure to pay for your first loan on time for best results and this will help you to be able to borrow more next time.