Short Term Loan Options - Payday or Cash Advance Loans
Written by: Ashlee Hovsepian
Do you ever find yourself short of money sometimes and nowhere
to turn? Then a payday or cash advance loan may be right for
you. Sometimes referred to as a Payday Loan or as a Cash Advance
it is money that is lent to you through a lending company for a
period of time, usually the duration between a person's pay day.
These are not long term loans and are typically designed to
assist with short term borrowing needs.
Each company has their own repayment methods and terms. Some
companies may offer you the choice to pay the loan in full at
the time it comes' due, or if offered, you may have the option
to renew your loan a set number of times and only pay the
finance charges until the loan becomes due in full. Again, each
company is different and you should review multiple companies to
find the one that is right for you.
Applications and approval processes are usually quick and many
of the lending companies offer what they call "no fax" loan
applications. Most companies that offer online loan applications
offer this method for you to apply online and receive an
approval within minutes. Loan amounts vary depending on the
company, but most companies will deposit the money directly into
your bank account quickly. Also, depending on the company, you
may not be required to submit for credit approval.
Some situations where you might find a Payday or Cash Advance
loan useful are, unexpected car repairs, extra cash for a
vacation or if you find yourself short on paying the rent and
just need an advance to get you through until your next payday.
Each loan company has their own terms, requirements and finance
charges and you should read all the information available on
their website before you apply for a Payday or Cash Advance
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