There are many of us these days of troubled economic times who will find themselves in need of fast cash. We may have a bad credit score and will not qualify for a traditional loan or our friends and family are struggling also and cannot help. If you are one of the many who have a stack of just due or overdue bills that have to be paid before you receive your next check, applying for on online loan and getting instant approval may be just the solution you’re looking for.
Instant cash loans have several names. They are variously as short term cash advance loans or simply payday loans. Instant cash loans will range anywhere from $100-$1,500 but you will generally have to start out with smaller amounts, less than $500. Once you’ve shown you can repay on time the amount you can borrow will increase.
If you need a loan really fast, online instant approval loans are just the ticket. If you are gainfully employed, have a checking account and are at least 18 years old, you will qualify. Simply go to the website of the lender of your choice, examine all the requirements and what is expected of you and fill out the online, one page form. Your loan will be approved in usually less than an hour and the money will be deposited in your account on the next business day.
So what is the catch? An instant cash loan are smaller than traditional loans and will be paid back in usually a single payment. You will need to have an income of more than $1,000 and expect the interest rate to be much higher than traditional loans. Most instant cash loans are charging an average of 10 points above the Annual Percentage Rate and can go as much as 16 points higher.
There will be no need for a credit check, no unnecessary faxing of tons of documents and no long waits. At last count there were over 10,000 individual payday loan outlets in the U.S. alone and a search online will uncover literally hundreds of sites. It is always best to shop around and compare, get the best rates and the best loan package for your particular needs. Finding the best deal for you is a simple as doing your homework. Take your time, do you home work and get the money that you need.