Cash Advance Direct Lenders

Cash advances are a very popular product for consumers looking for short-term funding. In the case of an absolute emergency, a borrower should look for cash advance direct lenders who work directly with the individual to get money to them as soon as possible. These companies typically have lower overhead, easier to meet criteria, and a process that allows for quickly turning new loan applications into lending agreements.

Accessing capital from a cash advance direct lender is as easy as getting in touch with one. A cash advance direct lender can be reached through the phone, internet, or fax, though online cash advances are the most popular.

Why Cash Advances?
Cash advances are, by far, the easiest type of credit to receive. Cash advance direct lenders typically have only a few restrictions including:

Income – In most cases, you’ll need to make $1,500 per month or more to qualify for a cash advance from a direct lender. Making $1,500 per month or more ensures that you’re a borrower capable of making good on the loan by paying back the balance before the loan goes into arrears. In some cases, lenders will loan to people who make a minimum of $1,000, though on the lower income ranges, lenders tend to be more restrictive.

Employment – As a general rule, cash advance companies like to see that their clients have been employed for at least six months, and have previously held jobs which would enable them to make a repayment. Stability in your employment is important, as far too many people fall into financial problems after borrowing with a cash advance, only to quit, or lose their current job while the bills are do.

Residence – Cash advance companies tend to operate in certain geographical areas, even if they have a website which could theoretically service anyone in the world. States regulate the lending companies that operate within their own borders. California, for example, has numerous regulations on the books which make cash advance loan companies unprofitable, and as such, many avoid the state. Nevada, on the other hand, has very loose regulations in terms of how much can be charged, which fees, and how the operations work, so most companies will make loans within the state of Nevada.

How to Get a Cash Advance
Receiving a cash advance is as easy as applying, waiting for an approval or rejection, and then proceeding with receipt of your money. In between, though, there are a few steps to getting a cash advance from a direct lender:

1. Application – Applications are usually short and to the point. The company will need your name, date of birth, residence information, and Social Security Number (to pull your credit score.) Not all companies will pull your credit score, though they will report your good payments to credit bureaus.

2. Verification – In some cases, a lender might seek some kind of verification of employment. This can be confirmed with a recent check stub, which will also verify that the income you alleged you earned is true. Cash advance lenders will not call you on the job; so do not worry about the necessity to prove that you do actually show up to work each day.

3. Approval – Once approved, a direct lender will provide your loan through three different methods. The first is a bank wire, which will take no more than 24 hours to show up in your account. The second is an ACH transfer, which is the same as any electronic check. For an ACH transfer, you must have an open checking account. Finally, some lenders will disburse checks, which can be overnighted to your home.

Shop Around
If you’re ready to get a cash advance, start shopping around at the various companies. You’ll want to know the terms of the loan, as well as the related costs and charges for each loan through the company. In keeping a close tabs on the fees and charges, you’ll know exactly how much needs to be repaid and when.

Never borrow more than you can afford to pay back immediately, and expect that your income one week might be lower than average. Borrowing too much means you’ll have to pay back too much, so borrow only what is needed right now for your cash emergency. After that, make a plan to accumulate the cash necessary for full and complete repayment of the loan.

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