Ever experience needing extra funds fast but not knowing where to get it or who to approach for it? Ever suffer from a bad credit score that restricts you from borrowing money from banks? If you’ve experienced these, don’t worry, you’re not alone. When you need money fast, one of your best options is a fast cash loan. There are many different kinds of fast cash loans you can use for emergencies and last minute expenditures. These include payday loans, personal loans, and cash advance loans.
Why are these fast cash loans your best choice for a quick infusion of cash? Here are five reasons:
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Simple application process
One of the best advantages of fast cash loans is its ease of application. You can apply anytime and anywhere, as long as you have internet access. You can do this using your computer or any mobile device and you can also expect an answer after a few minutes.
To apply, all you need to type in are your personal details and to present proof of recurring income as well as your bank details. Once you complete the application form, the lender will process your loan. This fast and simple yet secure system makes quick cash loans your best solution for financial emergencies.
Get your money within 24 hours
After you complete the application process, the lender will go through it. Once you get approval, the money will be transferred to your bank or preferred payment portal right away. Just take note of possible delays in bank transfers. While your chosen provider can transfer the money right away, it might take a while for your bank to post the transaction.
Borrow the money you need
Another reason why fast cash loans like those offered by GoDay are a great option for your quick monetary needs is because of their flexibility. You can choose how much you want to borrow without worrying about the lending criteria, and the amounts available to you range from $100 to $1,500.
Aside from giving you some wiggle room, these types of loans have fewer restrictions than bank loans. After you accomplish your online application, and stating how much you need to borrow, you can expect to get your cash in 48 to 72 hours, sometimes even less.
Flexible repayment terms
A flexible repayment plan is another benefit you may get from some of these loans. This is, of course, dependent on the lender, with some allowing you to pay off the loan over an extended period of time. Normally, fast cash loans need to be repaid on your next payday in full, but in some cases, lenders can extend repayment to a few months.
The repayment frequency of your loan can depend on your income. This makes repayment manageable for borrowers who are stretched thin and can only pay a small amount every month. Some of the most common repayment terms include 3 months, 6 months, and 1 year.
You can still apply even with bad credit
For those with high credit scores, you have a very high chance of getting your bank loan approved. For those with poor or bad credit scores, bank loans are out of the question.
For fast cash loans, poor credit scores aren’t that big a deal. What these lenders look for when you apply for a loan is your steady income stream so they’re sure you can repay what you borrow.
Bottomline
Surviving the rainy days without savings to fall back on can be tough. Your family and friends may not always have the extra cash to bail you out all the time either. And when it comes to banks and other lending institutions, applications and requirements can be such a pain.
Thankfully there are companies that offer fast cash loans that you can turn to when the going gets tough and you’ve got nowhere else to go.
Also read: Things To Know About FedLoan Servicing
