What is a Cash Advance?
Cash advances are unsecured loans that are electronically deposited into your checking or savings account, so you can avoid large late payment penalties or being charged for bounced-check fees. With Cash Advances, you can take care of emergencies that caused you to need money before your payday.
What are the qualifications?
In certain scenarios, your financial history is not important since your paycheck is the collateral for the lender and many are will to work with you even if you have less than pefect financial history. To sign up for an advance you only need to meet these requirments:
- Be currently employed (or receive a monthly income)
- Make at least $1000 per month
- Are at least 18 years of age and a citizen of the United States
- Have an active checking account
How long will the process take?
As long as the above requirements are met, the typical approval time is usually met in a timely manner. Because the money can be directly transferred into your bank account, the funds can be available by the next possible business day (if approved).
Do I need collateral for the loan?
As long as you are employed, your paycheck acts as the collateral for the lender.
How secure will my personal information be?
All information that is sent though our lenders is secured by 128 bit Secure Socket Layer (SSL) encryption technology. Therefore you can be at ease whenever you send your information and financial information to sign up for a Cash Advance.
When can I use this service?
Payday Advances can be used whenever a urgent need arises. While advances can be used to take care of short term financial issues they are not intended to be long term solution. Please contact the National Foundation for Credit Counseling at 1-800-388-2227 if you need help taking care of your credit, budgeting or debt management.
What is the maximum amount for cash advances?
The maximum amount for a cash advance is up to $1,500 which is regulated by state law. Depending on your income, you will be eligible for an amount within that range.
When do I have pay the loan off?
Most Cash Advances are paid off once your next paycheck is received. Some additional terms and conditions may apply. Please ask your loan consultant about
all of the repayment options.
