You can try to get paycheck advance online if you need of money and your paycheck is still one to two weeks away. This short-term “savior” loan is also called the paycheck loan that will provide relief of your current financial crisis until the next paycheck. It is similar with cash advance only you will be getting the money from a lending company.
The two ways that you can get your paycheck advance – online or through retail lending shops. The latter will require you to present post-date checks, proof of employment and stable salary since these are the lending company’s guarantee that you can pay the loaned amount on the next payday. You must indicate the amount of your loan including the interest and other fees on the post-dated check that you present to them. The usual interest rate range from 15% to 30% of the total amount loaned and you need to pay this on top of your loaned amount. You need to make sure that you will be able to pay the loan on time so that you can avoid bouncing check fees and additional interest.
However, you can apply for paycheck advances online where you will fill up an application form and submit it through the same portal. You need to provide honest personal details such as social security number and bank account number including your employer’s personal information.
Paycheck advances can also be availed through the submission of the following requirements.
1 – Copy of current account that is 90 days or more
2 – Proof of employment that indicates you have been in the same company for at least six months
3 – Proof of income or salary
You could get your paycheck advance loan within 2 – 24 hours depending on the company’s policy and processing of the loan application.