(PRWEB) August 09, 2012
No one wants to incur long-term debt, but another option for borrowing money for emergencies is the instant approval cash advance online. This is a short-term loan for up to $1,000, depending upon the borrower's ability to repay.
The first step in getting instant cash advance loans is to fill out the payday representative's loan application and return it via e-mail. The representative then finds a lender that fits the borrower's needs and forwards the borrower's loan application to them. Approval takes just seconds and no credit check is done.
After the representative receives cash advance instant approval, the potential borrower is requested to submit his or her banking information. Then the money is transferred into the borrower's checking account.
A borrower can use the online instant cash advance for anything he or she chooses, whether it is for the deposit on an apartment, the down payment on a car, for medical expenses or for a much needed get-away with the family. Instant cash advance payday loans makes it possible.
After two weeks have elapsed, the instant cash advance no credit check lender then deducts the amount of the payday loan, plus the loan fees from the borrower's checking account. The loan fee on a payday loan is usually $15 for every $100 borrowed. If this seems a little bit high, it must be remembered that there is no credit report run on a cash advance instant payday loan. It takes seconds for approval and the loan funds are deposited into the borrower's bank account within a day. A person researching various loans and loan terms would never find the traditional lending market to be so user friendly and fast.
The requirements for getting a payday loan are few. The borrower must be at least 18 and be a U.S. citizen with a regular job for at least six months, earning at least $1,000 a month in gross income. The borrower may also be on a fixed income, such as Social Security or Workers' Compensation, and receiving at least $800 per month in order to qualify for a payday loan. Once a borrower has paid off a payday loan, more loans can be taken out from the same lender in increasing dollar amounts.
Now people who need cash for an emergency or an unexpectedly high bill have a viable option for their borrowing needs with a cash advance payday loan.