Monday, November 18, 2019

Types of Cash Advance Loans That Can Help You Today

Types of Cash Advance Loans That Can Help You Today


Cash advance loans are small, convenient, and affordable loans that many working people rely on to cover expenses during difficult weeks. Contrary to what many believe, though, there are several types of these loans available to most borrowers. They vary in amounts, application, approval, and repayment style, including payday and installment loans. Know your loans so you can make the best choice about how to get help for your finances now.

Cash Advance Loans That Are Payday Loans


If you think you need a payday loan but find lenders are offering cash advance loans, you’re essentially getting just what you want. Payday loan describes any small loan that you can get approved for mostly based on your income and the fact that you have a regular paycheck deposited to your bank account. Cash advance loans offer the same. So if you need a quick loan that isn’t too big, that isn’t more than you can afford, and you think approval might be a challenge because of your lower credit score, this is the loan for you.

Online Cash Advance Loans Work for Busy Borrowers


And if you need a payday loan that you can access from anywhere and at any time, try cash advance loans available online. With these loans you can apply using a website and a simple online application. These loans work by taking your information on the application and submitting it to a group of pre-screened lenders. You get matched to the lender that can best meet your needs. The convenience of this kind of loan is extended with a mobile app. If you have odd hours or just a lot of hours at work and taking care of family, this kind of cash advance will give you the convenience of an application process that works with your schedule.

An Installment Loan Provides a Different Type of Repayment


If you like cash advance loans and payday loans but worry about repayment, there is another option. With most payday loans and cash advances you are expected to repay the loan amount in full. This usually happens on your next payday when the lender withdraws what you owe directly from your account. With an installment loan you repay the loan in smaller, periodic installments. So the same loan may be repaid in two months instead of two weeks. This gives you a little more flexibility but still gets you out of debt quickly and gives you all the other advantages of a payday loan.

Which Cash Advance Loans Are Right for You?


This is a question you will have to answer for yourself. But now that you know more about the options, you can make an informed decision about how to get the financial assistance you need. All of the choices have one major thing in common: they provide a quick source of cash. Get the money you need in as little as 24 hours or less.