Online cash loans can help you get funds in a very short time. You can get cash advances of up to $1,500 for a fortnight within 24 hours through payday loan lenders.
The purpose of these loans is to meet urgent financial needs until you get your paycheck. Whether you need money to pay for the college fee or entertain some unexpected guests, a cash advance can help you.
To get easy cash advance loans, you should be at least 18 years of age and employed. Your monthly income should be at least $800 and you should have an active checking account. Most lenders prefer to give loans to individuals who are paid every two weeks. This ensures them that the loan amount, along with fee and interest, would be repaid soon.
The main benefit of online cash loans is that you do not even need to venture out of your home to get them. The entire process, including crediting and debiting of the loan amount, is online. You have to first choose the payday lender and then fill out an application form on the lender's website. The form usually has simple fields such as name, residential address, phone number, office address, salary, and checking account number. Along with the application form, you may have to submit address and employment proofs. The lender will verify all the information and if found correct, will approve the loan. No fee has to be paid at the time of getting the 1000 cash loan.
Depending on the type of cash advance you apply for, the lender may or may not conduct credit checks. A low credit score is usually not a constraint, but if you have filed for bankruptcy, you may be denied this loan.
Once the loan is approved, the amount is electronically credited into your checking account. It may take from two hours to two business days for the loan amount to get credited.
After getting online cash loans, you just have to ensure that enough balance is maintained in your account on the repayment date as the lender would debit the due amount from the checking account directly. Failure to do so could get you in a legal trouble, as payday lenders can initiate legal action in the event of such defaults. If you cannot repay on the due date, make sure to inform the lender at least two business days in advance. The lender would extend the repayment period to give you some more time to repay the loan.