We at CashUSA.org are introducing this new resource because we know that understanding exactly how a payday loan works is critical for first-time borrowers.
(PRWEB) May 30, 2012
Visitors to the CashUSA.org website will now find a new educational article called "Get Money When You Need It With USA Payday Loans." The new content is there to help would-be borrowers understand the ins and outs of getting a cash advance, as well as highlight the numerous advantages for consumers in availing themselves of this form of fast financial assistance.
“We at CashUSA.org are introducing this new resource because we know that understanding exactly how a payday loan works is critical for first-time borrowers,” says company spokesperson David Randall. “There are a number of types of cash loans that borrowers can access these days, with payday loans being among the most popular. Although there are many similarities between the various types, there are many profound differences as well, so customers need to understand what works for them and what type of loan to choose.”
With the rollout of the new article at CashUSA.org, consumers now can get all the information they need about a cash advance USA -- which is a quick, convenient, no-hassle payday loan -- in one online location. This includes details on the application process, what kind of borrower qualifies for a cash advance, repayment rules and obligations, and more.
The application process for a payday loan is very straightforward: applicants need only to be either a U.S. citizen or permanent resident, present proof of current employment with at least 90 days on the job, demonstrate earnings of at least $1,000 a month after taxes, and offer their bank account details. The application is submitted to the company’s loan specialists online, and consumers generally get an answer in minutes. If the loan is approved, the money is deposited into the borrower’s bank account within one business day, and often within just a few hours.
The speed and simplicity of payday loans are their major attractions. Consumers no longer need to wait days for an answer from a bank or credit union about a loan, and borrowers with bad credit still have options within their reach. In fact, most borrowers today are middle-class, hardworking Americans who are employed and have a steady income. They are borrowing money to cover emergency bills, such as medical expenses, late mortgage payments or bank overdraft charges. Many consumers take out several payday loans every year to deal with emergencies between paychecks.
Payday loans are usually made for 15 – 30 days, or until the borrower’s next payday. However, it is possible to extend a loan for an additional 30 days at a time if the borrower cannot come up with the money by their initial scheduled due date.