Cash Advance

A cash advance, also known as a payday loan or paycheck advance, is a credit check-free, short-term loan usually between $100 and $500 borrowed to bridge the gap between pay days. The main benefit to getting a cash advance is that it is generally fast, simple, convenient and doesn’t require a credit check. Qualifications are usually only current employment and a bank account, and most places won’t even check an employment or banking history.

A cash advance can serve many purposes, such as paying bills or paying for a special purchase, but the majority of people use payday loans in emergency financial situations and for unexpected expenses. However, cash advance lenders generally don’t ask you the reason for your application.

A typical cash advance is available at your local cash advance store, which are scattered across most major cities. You can also apply for a cash advance over the phone and even online, which is very convenient and also secure.

When you apply for a cash advance, you will have to verify your employment and bank information. In most cases, the amount of money you can borrow for a cash advance will be determined by such factors as how many hours you work and how much money you make. After your application for a cash advance is approved, you will write a check for the borrowed amount, plus the fee, and the amount is typically deposited into your account within 24 hours. You will have up until your next pay day to pay it back, but you also have the option of rolling the loan over to the next pay day. However, this will incur extra fees.

The main drawback to a cash advance is the high interest rates; however, the responsible borrower may find that a cash advance is more than worth it, depending on the situation.





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