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Securing a Quick Cash Advance
Securing a quick cash advance has never been easier. Consumers are able to get the cash that they need to cover unexpected expenses by going online or visiting a payday loan lender in their area.
Cash Advances are Easy
Many lenders have made the process of a quick cash advance simple because they want to ensure that every borrower has a pleasurable experience. Each lender will require a borrower to complete an application in order to become approved. Typically, lenders require every borrower to have a job and a valid checking account.
The Loan Process
Once the lender has approved the loan, the borrower will be made aware of the interest rate that they will be charged. This rate is called the Annual Percentage Rate and it will allow the consumer to know how much the quick cash advance is really costing them. Consumers can also compare APRs in order to find the best rate.
If the lender is online, the consumer will receive their funds within a day or so, as the lender will deposit the funds directly into their checking account. If the consumer has borrowed the quick cash advance from a lender in their area, they will receive the cash once they have signed the applicable documents.
Repayment of the Loan
Loans must be repaid within their contract time. The typical loan period for a quick cash advance is normally two weeks, with the shortest being 8 days and the longest being 31 days. However, each state has their rules and regulation as to the amount of allowable funds and the length of the term allowed for these types of loans. The borrower is required to remit the full payment (principal and interest) on the due date or the lender will cash the post-dated check that was provided at the time of loan. Some lenders will allow borrowers to take an additional loan to cover the first quick cash advance.
A quick cash advance will provide you with the funds that you are looking for. By taking the time to find the best rate, you will be able to borrow the money with the least financial impact.
© 2010 Paycheck World. All rights reserved. Payday Loans are also commonly referred to as Cash Advance, Payday Advance, Paycheck Advance, Loans for People with Bad Credit and Payday Loans no Credit Check
Customer Notice: Payday loans should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counseling.