At every payday, we try to foot all our bills and finance all required problems to ensure the smooth financial momentum of the coming days. What if an unexpected medical emergency has appeared, and now you are left with nothing in your pocket? What if an important bill or a loan maturity appeared which you had underlooked.
In such circumstances, let our payday lenders help you. Paycheck advances help you to finance short term expenses before the next payday. It allows you to fund financial circumstances in the middle of the month before your next paycheck. If you are also facing a crisis in the middle of the month, this article is for you.
Financing Before Paycheck
You need financing in the month to cover your unexpected expenses and unforeseen emergencies at many hours. In such a situation, you need someone to take your hand with a promise to protect all your financial troubles. This is the reason why many Americans go for short term payday loans.
According to a rough estimate, “Payday has more than 12 million US borrowers.”
Cash Advance: Payday Loan
In this article, you will frequently read the term ” payday” but must be thinking about what the term is meant by. For your ease, we are going to define payday most simply without any financial jargon.
Payday is an unsecured short term loan usually borrowed to meet short term expenses for financial protection before your next salary. It is a part of a personal loan. The pay period is 2 to 4 weeks depending on your agreement with the lender. At maturity, you need to repay the entire loan amount along with the fee levied on it.
In case if you cannot pay the loan, your amount can be extended for a further period, with additional fees, subjected to the laws of your state.
Payday loans are renowned with other names as well, such as:
- Cash advances
- Small-dollar loans
- Emergency loans
- Quick loans,
- Loan till payday
- Fast loans, and so on.
Paycheck Advances: Fastest Mode of Financing
People usually ask how fast can they get a loan? Or how instant the process of payday lenders is. Cash advances are faster than traditional loans. In our online system, you do not need to wait for long hours. You can apply in less than 10 minutes and approve in 1 business day.
Our software will take your application to a pool of multiple lenders, one of whom will approve your application and instantly disburse funds in your account after the loan agreement.
Direct lenders Vs Brokers
As mentioned above, we are are brokers dealing with a pool of lenders. Usually, you have two modes of payday financing.
- You can apply to separate lenders each time, either physically or through their website or advance app.
- You can also apply through brokers who can connect you with multiple lenders.
We always recommend brokers. Why? If you are applying through each lender, you have to visit them personally; fill the application and wait for their approval. The minimum waiting period is 1 business day.
What if the lender rejects your application? The whole day goes wasted, and you end up with nothing, applying again with other lenders. However, if you are using our website, you will not be facing such issues. Just one application, and you are good to go.
Some of the privileges you will get through us are:
- We connect you with one of several lenders in our network.
- We will try to minimize the loan fee.
- You can apply online—no need to vising the lender physically.
How does it work?
Here, we will discuss a simple procedure, and all do’s and don’ts you should keep in mind while applying for the loan.
Ami I Eligible?
Payday has specific requirements which you need to fulfil. Some of them are:
18 Above: To apply for a payday loan, you should be an adult or 18 above as per law. Your valid government ID card is required to prove your identity.
US citizen: You should be a US citizen. The lender will ask you to provide Social Security Number, government ID, passport or driving license.
Steady Income: As per our direct lenders’ criteria, your income shouldn’t be less than $1000. The lender will check whether you can repay the loan or not. You must submit bank account details as well.
Social Security Number: SSN is one of the essential requirements while taking any loan. It shows how a good citizen you are and revel your credit standing.
Checking Account: Bank account is necessary because the lender will direct deposit the amount into your account. You can withdraw the amount depending upon the time of your banking services.
Remember: Check your eligibility criteria before applying for the loan.
Borrowing Cash Advances
You must have checked the criteria. Are you eligible for the loan? If yes, then proceed further.
Start an Applicaiton Process
The payday application form is available on our website. You can either click the button below or click “ $APPLY FOR QUICK CASH LOANS.”
Fill Required Information
Now, start filling in all the essential fields on the application form. Information you will require personal details, bank details, and employment details.
After finishing the form, upload the required documents and then submit the form. A bank statement, government ID card and some other related documents will be required.
Agree to loan terms
When one of our lenders approves your application, he will email you about all the terms and conditions required for the loan. Some of them are: approved loan amount; fee for financial services; late fees, annual percentage rate; maturity date and repercussions of non-repayment.
Once you and the lender make the loan agreement, the lender will directly submit the amount to your bank account.
An Extraordinary solution
Payday loans are exceptionally beneficial for your short term emergency financing. Some of the commendable features of borrowing payday loans are:
Incredibly fast: Our online payday loans are easy to process, quick to submit and fast for loan approval. It is not time-consuming, and after approval, you will receive money into your account in hours.
High Chances of Approval: Nobody guarantee 100% approval chances. However, if you are applying by keeping eligibility criteria in mind, we try our best to get your application approved by our direct lenders.
No Faxing: Previously, borrowers were required to fax documents. Many were reluctant because fax machines were not available at every house. Now the process has become much more manageable. Just click the picture of documents and upload them on the portal.
Transparency: We believe transparency is an essential key to retaining customers. We do not have any hidden fees, and Even our lenders are ready to answer every question you ask. We are also available 24/7.
Top-Notch Security: Many netizens are reluctant to apply through websites owing to cyber breaches and data theft. However, our website is SSL encrypted. Your complete information is well protected with us.
No More Requirement of Collateral: Collateral is an item you keep against the loan with the lender. However, payday is unsecured loans, so we don’t own any of your belongings.
Spend Anywhere: Many banks and financial institutions are asked to submit details regarding where you will pay the loan. We do not have such requirements. You can spend it anywhere, whether it’s your debt consolidation or car repair.
Easy Repayment: We don’t have lengthy procedures for repayment. At loan maturity, the lender will directly take the lump sum from your account. You can also transfer to the lender’s bank account.
Non Repayment? No worries: Many people do not buy a loan with a fear of non-repayment. It is good you are being astute and considering everything; we always suggest estimating the amount before purchasing a loan. However, in any case, if you cannot repay the loan, no worries. Your loan can be extended for more money with an additional fee for a further period. This is subjected to the law of the state from where you are applying with.
Other Cash Advances For You
Some of the other options you can avail other than payday loans are:
Installment loans: Installment loans are types of personal loans. These are unsecured loans payable in monthly or weekly series.
Cash Advance on Credit Card: Banks also offers loans on the credit card. You can get a loan just by paying interest and bank overdraft fees.
Secured Loans: Secured loans require collateral to keep with a lender. Title loans, pawns shops are unsecured loans.
It is least doubted that cash advances are the easiest way to finance your problems arriving before paycheck. We also tried our best to answer all your related queries in the text. You can discuss any detail in a comment section. lenders.
You can ask anything anytime; we are 24/7 available. You can also apply even on weekends for our payday loans approved by direct lenders.