Advance loans to Crush the Cash Crunch

Posted by Nick Niesen on November 8th, 2010

Are you short of cash at the middle of the month? Can not wait for next payday as it is urgent? Do not have time to apply for any loan? Then solve your problem with cash advance loans.

Cash advance loans, also known as payday loans are given to cover the short term cash problem. There are some pre-requisite criteria that one has to fulfill before availing for a cash advance loan. These are like:
?A borrower should be an employee of some company
?He/she must have regular income
?He/she should be 18 years or above
?He/she should have a current and active checking account
?And regular income of the borrower should be minimum ₤1,000.

But one should remember that his income will decide how much he can get as a cash advance loan, as lenders provide these loans to borrowers according to their income.

Easy availability is the added benefit of cash advance loans. Since these loans are taken when borrowers? need instant cash, thus instant cash is possible with these loans. Generally it takes 15-30 minutes to apply for these loans and the cash is credited to borrowers? account on the next working day. But one should try to apply for these loans between Monday to Thursday as it will help him to get the amount on the next day.

The repayment procedure of cash advance loan is very simple and easy. Generally, these loans are provided for 14-18 days and one can expand this term till one month. Obviously for that borrowers have to pay extra fee.

However, as cash advance loans are mainly short term loans, thus lenders charge high rate of interest with these loans. Furthermore, you will have to pay a fixed fee that could be anything from £15-£30 for the amount you want to borrow as a payday loan. But some efforts can save you from paying extra money. First search for various lenders offering payday loans and then compare their deals. By comparing various deals, you can get a cash advance loan at a flexible rate of interest. In case of searching of the best deal, you can also go for online loan sites, which will take minimum time to find the best deal.

All kind of borrowers can avail cash advance loans. Usually lenders do not check credit score at the time of providing a cash advance loan. Thus if you have poor credit score then be sure that it will not hinder you to avail a cash advance loans.