Instant Cash Advance

When emergencies strike and we are unprepared with our funds, there is such a thing as an instant cash advance. These fast payday loans are convenient for short term needs that can be paid in full come the next salary day. These are called “instant” or “guaranteed” loans because they are easy to get and very convenient and quick. In less than an hour, the funds you have applied for could be in your bank account and ready to use.

The requirements for an instant cash advance are these:

• A borrower’s age of 18 or more
• A job that pays a regular income
• A bank account where funds could be transferred

With these three simple requirements out of the way, getting your loan is a simple thing. The first step is to apply. You can do this at a lending company’s brick and mortar office, or you can do it online. A typical form will have questions regarding personal details such as name, age, contact information, and the like. Other questions will be about your work details such as employers, the company you work for, and your salary. Finally, there will be bank account queries as well.

The processing time is faster because the lending company will not have to go through a comprehensive credit check. This means that you do not have to wait for credit rating results. It also means that even a borrower with a bad credit rating has the possibility of being approved. The lending company gets your payment assurance solely on your paycheck details. Instant cash advance is truly for your convenience.

There are other types of loans such as the auto loan, the credit card loan, the mortgage loan. Those are all types of secured loans with collateral given to the lending company. An unsecured loan, of which the instant cash advance is grouped with, does not require collateral. Some types instead require a fax of documents. These are required to prove that you are capable of paying off the cash advance. A post dated check might be required of you as well. This will have the amount you borrowed and the lending fee, and it will be dated for your next payday. In this type of payday loan, the borrower promises to pay off the loan on time and the check is given back to him. If he fails to do so at the appointed time, then the check will be cashed by the lender.

There are many ways of making an unsecured, fast, and guaranteed loan. The quickest way is through the instant cash advance process where nothing is required but the filling up of an online form. This can be done without even leaving home and office. It is also called a faxless cash advance loan, a payday loan, a paycheck advance, a payday advance, or simply a cash advance.

Before applying for this fund, it is advisable to scout around for the lowest interest rates in your area. Some companies charge you processing fees as well, while some do not.

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