How Does a Cash Advance Work?
Understanding how a cash advance works is important if you are considering this option in a financial emergency. Generally speaking, a cash advance is a type of short term loan that a borrower may secure when in need of emergency cash to make it through a difficult financial situation. A cash advance may range from $200 to $1,000 and is secured without collateral necessary but rather is borrowed against the person's next paycheck. When the borrower is next paid by his or her employer, the cash advance will be paid off. Automated repayment is available for cash advances, meaning the lender will deduct the money directly from the borrower's account when payment is due.
A cash advance may be a viable option when you need to borrow money just to make it through to your next payday but don't want to complete a complicated, long-term financial obligation such as for a conventional loan.
Find out more about cash advances by clicking on the links below:
Cash Advance FAQ
How much can I borrow?
Will I be approved?
What if I have bad credit?
Click here to apply for a cash advance with our online system.