Sunday, December 30, 2007

Fast Cash Advance Payday Loan - Valuable Information

Nowadays, it is possible for you to get fast cash advance payday loan at very low interest rates for a short duration, lets say upto a month. However, you may not even need a fast cash advance payday loan for a month. All you may require it is for is 1-2 weeks. This is because you usually do not need to borrow in the beginning of the month because you would have just received your salary, but towards the end of the month, things can get difficult-especially if you are on a shoe string budget. That’s when you may require a cash advance to finance an unexpected expense.

A Loan To Overcome An Unexpected Expense

So, a fast cash loan is an unsecured short term loan that you take to overcome an unexpected expense. You pay this loan back when your salary cheque comes in. There is no collateral required for this loan. However, lenders lend only small amounts ranging from $100 to $1000. They could, however, offer you a bigger loan if you belong to a higher income group.

No Credit Checks Are Performed

Since the guaranteed cash loan amount is very small and the loan is given for a short duration, the lender does not perform a credit check. This is the unique feature of a payday loan. So even if you have a bad credit history, you can still get a payday loan.

Eligibility Criteria

The main points that a lender looks for before giving you the fast cash advance payday loan is whether you are 18 years of age or older, if you have a valid checking account, if your salary is not less than $1000 and if you have been working with the same employer for not less than 3 months. If your application form satisfies these criteria, the money will be in your bank account within 24 hours.

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