If you need some fast cash with instant approval you only need to go online to discover companies offering almost immediate solutions. Following a speedy online application approval will be given in minutes, before you have the chance to change your mind. The ease and quick delivery of the process is in keeping with the fast everything culture which America proudly offers in today’s society.
This type of lending is known as cash advance payday loans. They are also available at neon flashing stores around town. If you feel a little embarrassed to apply in person the industry now gives you the opportunity to apply online.
These loans are unsecured and typically given to people with no credit or a bad credit history. No credit checks are carried out and no report is given to a credit bureau that you have applied. Just a few conditions need to be satisfied before the loan is approved and if you can’t meet the requirements of a payday loan then you really aren’t going to be able to obtain a loan anywhere else.
To be approved you must be at least eighteen and have an annual income of around $10,000. This income should be derived from a job you have held for three months, or a steady income from social security. You will also need to have held a checking account for three months. The inconvenient days of needing to fax documentation is mostly finished with now and ‘no fax cash loans’ make the whole process quicker than it has ever been. Most usually the cash will be transferred to your check account by the next day.
The ease and speed of the loan process may even distract borrowers from the terms and conditions that apply with these loans. The fee for borrowing must be displayed on line and generally is in the region of $25 for every $100 borrowed, but this figure will vary between states. APR’s of around the 500% mark are standard.
What could be missed in the haste of applying are the additional fees which are advertised in the small print, contrasting with the headlines which state all fees are shown in advance. A nicely hidden fee may be one which is charged as an extension on the loan if it is not possible to repay the loan on the agreed due date: this fee is $30. Also late fees will apply if no contact is made to advise your payment may be a day late.
It is possible to cover the fees which are added onto the loan amount if you refer someone else to obtain their fast online loan. Depending on which company you use you can earn between $30 and $100 for referring your friends and relatives, which would effectively cover your own loan fees, if you only apply for a small loan.
Although cash advance payday loan companies must state that these loans are designed for emergency use and not as a regular way of coping with ones finances, they still advertise special reduced rates to those who have already taken out 5 such loans and repaid them.
If you need a fast cash online loan today then you are almost certainly guaranteed to have the funds by tomorrow. It is so easy to obtain online approval and It will be the easiest and quickest loan for you to obtain. Just remember it is likely to be the most expensive one too.