A pay day loans cash advance is a
loan for a small amount of money that you borrow against your next pay cheque
in situations where you unexpectedly find yourself short of money in between
paydays. It is a form of cash advance on your monthly pay cheque.
Why you may need a loan
You may wish to apply for a fast
cash loan for a variety of reasons. For instance, something unexpected may come
up that requires you to pay out money that you do not have (such as broken down
refrigerator); or, you might have a red-letter bill drop through the door for a
payment that you have forgotten about and need to pay it before your next
payday.
These and any other situations where
you find yourself wishing you could get a cash advance on your next pay cheque
may be eased by taking a payday loan.
How much can I borrow?
A pay day loan is unlike a
traditional type of loan. With the latter you are typically able to borrow
thousands of pounds and then repay this borrowing back over months or even
years.
With a cash advance loan, the
amounts you will be able to borrow are smaller and will vary depending on which
payday loan company you use, but typically you can look to get a cash advance
of between £100 and £250.
The aim of a cash advance loan is to
provide you with a short-term cash injection if you come up against an
unexpected expense (eg vets' bills; car repairs; your washing machine stops
working etc).
How long until I receive the cash?
The majority of pay day loan lenders
ensure that you get your money as soon as possible once your application for
the loan has been approved. With a normal loan, you may have to wait for
several weeks before you see any money - this is normally due to the completion
of paperwork.
With a payday loans cash advance,
you may typically get your money the very same day. Online payday loans are
available with some even offering you no faxing payday loans, where you do not
need to even fax any documentation through. This makes the whole process very
quick - and eco-friendly!
With some lenders, you may be able
to get your money within just a few hours of being approved for the loan,
subject to your bank accepting immediate transfers.
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