Our Ohio Loan Process page will dispel any misconceptions or uncertainty surrounding the cash advance process in Ohio.
(PRWEB) January 18, 2012
CashUSA.net announces the re-launch of its flagship consumer-lending site, which features an easier online application and streamlined user-interface. For consumers who find themselves in a financial bind, the options today are more limited than ever before. Banks are tougher on loan applicants than they were just a few years ago; so, where can a cash-strapped consumer turn when the car’s clutch goes out or the roof starts to leak?
CashUSA.net provides working people with access to its extensive network of payday-loan providers, who offer short-term loans at higher interest rates in exchange for almost immediate approval and funding. The length of the loan usually only runs until the borrower’s next payday, at which point the loan and all interest and fees must be paid in full. Although not meant as a long-term financial strategy, payday loans are a useful short-term tool to alleviate a financial crisis.
“The new site makes it even easier for working people to get the money they need without having to jump through hoops,” said company spokesperson Todd McMillan. “Our site delivers a service that’s urgently needed in a time of shrinking household income — small loans with quick turnaround times, which fit the needs of today’s consumer.”
No credit check is required for payday loans made through the Cash Advance USA network of lenders. Requirements for a payday loan secured through CashUSA.net are kept to a minimum, making it possible for nearly anyone with a job to qualify:
- Recent paystub showing income of at least $1,000/mo. after taxes
- Employment at your current job for at least the last 90 days
- Over age 18 and a U.S. citizen or permanent resident
- Active checking account
- Active email address
- Active home and work telephone numbers
Once a borrower fills out a loan application through the new CashUSA.net, it is distributed to all the payday loan providers in the network. Because the payday loan providers in the network know they are competing with each other, many offer lower interest rates and fees than commonly found at local retail payday loan centers.
After a borrower chooses a loan, provides an e-signature on the document and returns it to the lender, the loan funds are electronically transferred into the borrower’s checking account. The whole process, from application to transfer of money, usually takes about an hour. This is a speed banks just cannot match.
Payday loan providers in the Cash Advance USA network offer loans ranging from $100 to $1,500. The borrower’s income helps determine how much a payday loan provider will lend to that person. Most payday loan providers will not lend more than the borrower can reasonably pay back on his or her next payday.
The Truth in Lending Act requires that all lenders provide detailed information on the cost of a loan to a potential borrower. This detailed information is referred to as the loan’s terms and includes the loan amount, the interest rate of the loan, the loan fees, and the length of the loan.