A Buying Guide for Online Cash Advances
August 12, 2022 at 06:30 AM EDT
Sometimes, you may be running short on cash. Whether you need extra funds to pay the bills or buy groceries, cash advances offer a quick and easy solution. With in-person and online options, these loans are a great way to get the funds you need right away.
To find the right cash advance and get cash as quickly as possible, it’s smart to understand how the process works and how to find the right lender. Here’s a buying guide to online cash advances so you can get one today and meet your financial needs:
Research in-person and online lenders
Depending on where you live, you might have a brick-and-mortar cash advance store location within a few miles of your home. And if you own a computer and have internet service, you have instant access to hundreds of online lenders. Where you choose to shop for a cash advance lender may be a matter of personal choice and convenience.
Begin your research by making a list. There are several factors of cash advances that you should compare, including interest rates, fees, terms, and loan amounts. Be prepared for interest rates and fees to be high, but some lenders are more reasonable than others. Generally, you can receive funds the same day you apply or within 24 hours if approved, and you’ll repay a cash advance when you get your next paycheck in two to four weeks.
Prepare to apply for a cash advance
There are several commonalities with cash advance applications that you can prepare for in advance. For example, many lenders ask for the same documentation. You can save time by gathering a digital copy of your driver’s license or state ID, copies of recent paystubs, and your most recent W2 or 1099 tax forms. Also, make sure you have your bank account and routing numbers. Once you have everything you may need, it’s time to apply for a cash advance.
Apply and await approval
Once you’ve chosen a lender and have all the information you need, you can fill out your application for a cash advance. Luckily, these loans often come with easy applications that you may be able to complete in just a few minutes. Provide all necessary personal and financial details, like your name, address, proof of income, and bank account number. Then, double-check everything you filled out before submitting to make sure all information is correct. Once you’re ready, you can submit the application and wait for approval.
Cash advance lenders typically offer fast approvals, so you may find out instantly whether you qualify. If approved for a cash advance, you may get the funds the same day you apply. This can allow you to cover essential and emergency expenses immediately and help you out of a financial pinch.
Notice: Information provided in this article is for information purposes only. Consult your financial advisor about your financial circumstances.
Name: Michael Bertini