4 Benefits Of Getting A Payday Advance

Posted on: 22 October 2015

Sometimes, life happens, and you need to access the money you would get in your next paycheck a few days or weeks earlier. When you need a little extra cash fast, there are not very many options out there. One of the easiest and fastest ways to get a little extra cash before your next paycheck is by getting a fast cash loan or a payday loan. Here are a few of the benefits of getting a payday loan, or payday advance.

The Application Process Is Fast

To start with, the application process for a payday advance is generally really fast.  You just need to go down to your local payday advance business, and provide them with some basic information about yourself and information about your most recent paychecks. The approval process generally takes place on-site right after you submit your application. Some payday advance companies even allow you to fill out and submit an application online.

The Chance Of Getting Approved Is High

Payday advances are based on how much money you bring in each pay period, generally after taxes are withheld. The approval amounts are based on your ability to quickly pay back the loan when you get your next paycheck. The loans are generally not that large, making them easier to get approved for than traditional loans through a bank, which can easily exceed your monthly or even yearly income. Since the loan amount is smaller, the risk is smaller too, making the approval rating for payday advances high.

The Terms Are Clear

Next, the terms of your advance are clearly spelled out in your contract. Any and all fees and interest that you will be charged have to be clearly laid-out and stated beforehand. Additionally, all the repayment terms will also be clearly spelled out in the contract you have to sign after you are approved and before you get any money.

Payday advances do not include any hidden charges or fees; the payday loan industry is regulated by federal and state laws, and cannot stick you with hidden fees or charges

The Money Comes Through Quickly

In addition to the application and approval process being very quick and fast, so it the process for getting the money that you applied for. If you apply in-person, you may walk out with the cash in hand that you were granted with your application. If you applied in person, the money should be transferred into your bank account in a matter of hours. Either way, you should have the money you need quickly, generally in less than a day.

If you need access to some extra cash quickly before you get your next paycheck, head on down to your local payday advance business, and quickly fill out an application and see if you can quality for a payday advance today.