(PRWEB) August 09, 2012
Most people have a point in their lives when their financial stability becomes a challenge. This could be from employer downsizing or from having to accept work at a lower salary than what they are accustomed to. Online payday loans can help these people when there is "more month left after the money is gone" or when they incur emergency expenses.
To get cash advance and payday loans, there are only a few requirements. The borrower must have been employed for over six months in a regular job and be grossing at least $1,000 per month. Some lenders will waive the six-month on-the-job requirement.
Another requirement for obtaining payday loans cash advance is that the borrower be over the age of 18 years old and is a U.S. citizen. An active checking account is also required. No credit check is ever run.
Anyone applying for instant cash advance payday loans online simply fills out an application and sends it back via the internet to the loan representative. The loan representative then reviews the application and chooses the lender who will best suit the borrower's needs.
Once approval is received, the borrower is notified. Sometimes it takes less than an hour to receive approval and never more than a day. Then the borrower e-mails the lender with pertinent checking account information and the lender electronically transfers the borrowed funds into the borrower's checking account.
Two weeks later, payment for the loan, plus fees, are deducted from the borrower's checking account. Fees on fast cash advance payday loans are traditionally $15.00 for every $100 borrowed. Depending upon a borrower's income, a maximum of $3,000 can be borrowed at one time. Once the loan and fees are paid in full, a borrower may take out another.
There is no loan committee approval or collateral required on payday loans and cash advance loans. The beauty of easy cash advance payday loans is ease of the borrowing process and quick funding of the funds borrowed. With the economy in a recession, payday loans cash advance no credit check are becoming more popular than ever before.
Now in an emergency, like a tire blow-out or an unanticipated home repair, people who are short on cash have somewhere to turn. A payday loan is the perfect option for responsible people who are low on funds. Now when a an unexpected emergency strikes, a borrower doesn't even have to leave the comfort of home to get a much-needed loan.