Online payday loan companies offer the fastest response time and quick deposit of funds. Unexpected expenses are common. If short on cash, finding a way to care for a medical bill, utility bill, or car repair is frustrating. Rather than borrowing money from friends or family, consider a quick online cash advance loan.
Do Cash Advance Loans Have Income Restrictions?
There is a negative stigma attached to cash advance loan companies. Therefore, some believe that these companies are intended for lower income people. However, regardless of whether you live in a low or middle income neighborhood, unexpected expenses may arise at a financially inconvenient time. For this matter, cash advance companies provide a needed service.
Cash advance loans have few restrictions. Most applicants are approved. Basic requirements for a quick online cash advance include steady employment (same employer for 90 days), active banking account, meet minimum age requirement (18-years-old), and no current outstanding cash advance loans.
Because cash advance loans are short term, these loans are more suited for person’s who are able to repay the loan within two weeks. If you need longer loan terms, search for a lender that offer 30-day cash advances.
Benefits of Applying Online
Because of the internet, everything is made more convenient. Applying for a cash advance online is confidential and secure. If you are uneasy about applying for a loan at a local storefront, take advantage of online privacy. Simply complete the loan application, and wait for a quick response. If necessary, fax paycheck stubs and banking statements.
Online approvals are offered within a few minutes. If applying on a weekday, funds may be deposited into your checking or savings account within an hour. If applying on the weekend or holiday, expect fund on the next business day.
Cash Advance Loan Approvals
By offering no credit check cash advance loans, these lenders are taking a huge risk. Thus, most lenders do not offer large loans. On average, cash advance lenders cap loan amounts at $500. Some online lenders approve loans up to $3000. Loan approvals of this sort are only offered to individuals with a good cash advance payment history.