Frequently Asked Questions (FAQ)
It is easy to make mistakes when you are new to the world of short-term loans in general and fast cash advance loans in particular. That is why we channeled our forces and came up with this comprehensive list of frequently asked questions. Make sure you have a pretty clear overview before you submit an application to any type of short term loan. Otherwise, you risk choosing the wrong offer that will inevitably bring negative consequences to your budget.
However, keep in mind that since we are not lenders, we are not capable of answering questions regarding specific loans. For that reason, we kindly advise you to contact the lender for such questions.
What is a short term loan?Short term loans have a few features that distinguish them among other types of loans:
- You are allowed to borrow only small amounts of money, for example $100-$1000.
- They are meant to cover emergency expenses.
- Lenders usually don’t check any credit history thus making these types of loans available to a very wide range of people.
- Most of the times, you get your loan approved on the same day you applied.
- In general, the money reaches your account on the next business day or even sooner.
How do I know if I am eligible for such a loan?Fast cash advance loans are very different from the traditional loans you are accustomed to. The requirements are easy to meet that more than 92% of people applying through our website get approved by at least one lender:
- You must at least 18 years old;
- You have to live in the US;
- You must have worked for the same employer in the US for at least 90 days consecutively;
- You need a valid email address and phone number;
- You must have a bank account that is not overdrawn when you apply;
- You should meet the minimum income requirement.
What is the biggest sum that I can borrow?You should understand that each state has its own regulations and this includes a limit for the maximum amount borrowed. So, the answer to this question varies according to:
- Where you live;
- What lender approves your application (usually, $1000)
- How much you earn
How do I get the money after approval?
- You are asked for your electronic signature;
- You sign the agreement;
- day, the lender deposits the money in On the next working the bank account that you provided earlier
What if I have bad credit or no credit at all?As we mentioned above, most fast cash advance loans lenders don’t care about how good your credit is or if you have any. So, the majority of our lenders will not perform a credit check prior to approval.
How much it takes to get the money since the moment I apply?
- You fill in the application form and you submit it – 2 minutes;
- You start receiving offers from different lenders – a few minutes;
- You choose the offer you like – this depends on how quickly you make decisions;
- You sign the documentation electronically – 20 seconds;
- You get the money in your bank account – by the next business day.
Is faxing really needed?If you have never applied for a fast cash advance loan through our website, you are likely to be asked to submit the documents that prove you meet the requirements, for example bank statements. However, it doesn’t matter if you don’t have a faxing machine. You are free to go to the nearest UPS store or public library in your neighborhood. They charge a very small fee per page.
How much do you I have to pay?To begin with, it is free to apply for a loans and get offers from lenders. The minute you decide upon an offer and you sign the document, you agree to pay all the fees associated with the cash advance you take. Always read the contract thoroughly to be sure that you are aware of all the fees involved. The Truth in Lending Act obligates lenders to disclose absolutely all the fees in writing before providing any money.
How many short-term loans can I get at the same time?This depends on the regulations that apply in your state. However, if you do have at least one outstanding loan and the law permits you to apply for another one, you application must contain details about the outstanding loan(s).
How and when do I pay the money back?The contract should provide the answer to this question. It should specifically tell you:
- How much you have to pay in total (this includes fees and interests);
- When the loan is due;
- How the payment is made. Provider will simply take the amount owed from your account on the due date. It is NOT necessary to:
- Go to the physical location of the lender;
- Mail a check;
- Send the money electronically before the due date. You can still do this if you like, but it’s not necessary.
What happens if I fail to meet the deadline?In this case, contact your lender as soon as possible. The lender will present available options. Anyway, keep in mind a few things:
- The words extension, renewal and rollover are frequently used interchangeably in the field of payday loans.
- Loan renewal comes with additional interest.
- The lender has the right to impose any late fees and charges for renewal as long as they meet federal and state laws.
- As your data travels via the Internet, we encrypt it through 256-bit secure socket layer technology;
- We have protocols that block any outside attempts to access the details of our customers;
- We will only use your information to:
- Fulfill your requests;
- Inform you of our latest services and offers.