Payday Advance Loans
If you are gainfully employed, but find yourself short of cash for one reason or another, you could benefit from a pay day advance loan.
A payday loan allows you to borrow money against your next paycheck. If you can provide proof of employment and a personal bank account, you are eligible to apply. It is free to apply so you don’t have to worry about a bad credit rating. Because your loan is designed to be paid with your next paycheck, you don’t incur any long-term debt.
The Process is Quick and Easy
It’s easy to apply for a cash advance loan. If you prefer, you can apply in person at a storefront location, where you will be asked to complete a simple application. You will need to provide recent paystubs as proof of employment, as well as a bank account statement. You will also need to provide your social security number.
If you are approved, you will receive your check the next business day, which you can then deposit into your bank account. Depending on your lender, you may be able to repay the loan with a post-dated check, or be asked to return on the day the loan is due to make payment.
Online Applications Are Available
Another option for a paycheck advance loan is to apply online. The process is similar but does have several advantages. You’ll be able to apply from your personal computer in the privacy of your own home.
Just like at the storefront location, you will be asked to complete an online application. In lieu of physical documents, you will be asked to provide your employer’s name and phone number, as well as your bank account number. The lender will be able to verify your employment and banking account status through these numbers.
If you’re approved, the money will be directly deposited into your banking account (the number you provided) usually as fast as next business day. You can then withdraw the money wherever you are, from any ATM. With this arrangement, you can also schedule an automatic withdraw from your account on the date the loan is due. This helps you avoid the late fees and higher interest rates associated with extended loans.
Consider a Pay Day Loan
If you find yourself in a cash crunch, for whatever reason, you don’t have to panic or feel guilt about your situation. Financial emergencies happen to all of us. A pay day advance loan is a viable option to help you through those tough times.