About Cash Advance Loans
Are you wondering about cash advance loans terms and requirements? Cash advance also known, as online payday loans are short-term loans. These loans are expensive but have very few requirements. Most of the people who apply for fast loans need the money for medical emergencies and unexpected expenses. If you are looking to get a small dollar loan but don’t know the possible terms and requirements, you have come to the right page.
Cash advance also known, as payday loans are short–term loans. These loans range in size from $100 to $1000, depending on which state you live in. In some state, $500 is the legal maximums but the minimum is the same for all state. Payday advance typical term is about 14 days and the finance charge for two weeks ranges from $15 to $30 per $100 borrowed. In other words the average annual interest (APR) for two week loans are 400% or more. Yes! Short-term loans are expensive compared to other loans because of the risk involved.
Quick cash loans online are more expensive because you can get these loans without much complication. Lenders have very few requirements that almost anybody can get a loan even those with bad credit score. All that is required to get a cash advance is a steady source of income, a bank account and identification. Majority of direct payday loan lenders do not conduct credit investigation. They also never ask questions to find out if a borrower can afford repay the loan on due day. So, a borrower who meets the lenders criterion can get a loan even if they have a bad credit history.
A payday lender offers borrower an alternative solution to get quick cash, through cash advance. With these loans, you can easily get money to pay for unforeseen expenses without leaving the comfort of your home. Apply for a loan today and get the money you need within 24 hours.Share