Posts Tagged ‘payday loan alternatives’

Cash Advance Centers Make Quick Work of Loans

Thursday, April 26th, 2012

Cash advance centers have continued to grow because individuals have come to see the value in taking out small loans to bridge those moments where cash flow is short. This is a big help when a home is short on groceries or a utility bill is past due. For some, that loan may be the beginning of a new life, perhaps helping to cover the down payment on an apartment. Best of all, these short-term loans are approved at a quicker rate than loans from a traditional bank. Instead of waiting weeks to find out if approved, most applicants find out within twenty-four hours. Some institutions deliver results in as little as sixty seconds.

The manner in which the loan amount is disbursed varies. Many lenders wire loan amounts directly into an applicant’s checking account. To apply, one needs a source of steady income and proper identification to start. The loan does carry fees, which tend to be higher than that of a loan from a bank. Applying online means a person does not have to take time from work. Complete the application day or night. Each institution has different guidelines as to how to repay the loan. It might be in full or through required minimum payments.

What Is a Merchant Cash Advance?

Thursday, March 29th, 2012

Cash advances for merchants, or businesses work differently than your standard individual cash advance or payday loan. Instead of signing over your next paycheck, you are signing over a portion of your future sales to the entity issuing the merchant cash advance. These lenders commonly work with only retail, restaurant and service companies with a lot of credit card sales but that are unable to qualify for standard loans. The interest rates vary, but are usually much higher than payday or cash advance loans for individuals. Business owners should be careful about which company they choose to work with. Merchant cash advances should be treated like any other loan and you need to do your research before choosing this option.

The merchant does not make payments to this type of “loan” and the companies that issue the money for these cash advances do not call them loans. Instead, the lender takes a percentage of the daily credit card sales of the merchant’s establishment until the merchant cash advance amount and the premium is collected. This is usually to happen within 12 months or less. The main selling points to merchant cash advances is that there is no due date for payments, no fixed payment and the money gets paid back faster.

Tips for Getting Fast Payday Loan Cash

Wednesday, January 4th, 2012

When money gets tight between paydays and your credit cards are maxed out, you still have options! Fast payday loan cash advances allow you to borrow money that is repaid once you get your next paycheck. Finding places that offer quick loans like this can be tricky, since there are so many payday loan companies out there. By following these tips, you can find the best company to borrow from.

First, look at a company’s advertising. If they advertise on their window that they do very fast payday loans, you can almost guarantee that you’ll get your money the same day you apply. They may also say that they can get you cash within an hour, which is great for sudden emergencies.

You should also be willing to make some sacrifices to get your money sooner. A higher interest rate can be the trade you make for immediate cash, since the company is doing you an extra service. You may need to provide more thorough employment information or provide your social security number for a credit check. If any of these is a problem, you can certainly find fast payday loan cash companies that will work with you. No matter what, you can find a company to get you the fast cash you need.

Payday Loan Alternatives for You

Friday, November 18th, 2011

People looking for payday loan alternatives need to be creative in their search. There are some alternatives that are high in interest, while others may mean that you have to go out on a limb to get the money you need.

One alternative is getting a cash advance from your credit card. If you call your credit card company and request a PIN, they can provide you with a PIN that you can use at an ATM. With that, you can withdraw cash against your credit line. Similarly, many credit cards regularly send out checks for the credit card. With those checks, you can get actual money from your credit line.

Personal loans are another alternative. If you have friends or family that have some extra money, you can ask them for enough money to get you through to your next paycheck. For their safety and comfort, you may want to draw up a contract and get it notarized at your bank. Alternatively, you may want to postdate a check for the amount they loaned you and give it to them. To show your good faith, agree to pay interest on the amount they’ve loaned you. After all, they are doing you a favor!