Cash advance loans are also known as payday loans. In our daily lives we encounter different financial challenges. There are those times in our lives where an unexpected expense creeps up from nowhere or maybe we have managed to tackle the bigger bills but are left with no funds to cover the smaller ones. It is also these smaller bills that can give us a nasty bite if not paid immediately. How will you make these repayments if you have not budgeted for them? In such circumstances you could resolve this through a quick loan from a bank or more ideally through a cash advance loan from a cash advance loan lender.
With cash advance loans you can apply to borrow on average around $100 – $2000 to cover your needs. The amount loaned to you is more or less dependent on your monthly income, since these loans are unsecured loans and no collateral or security is pledged to the payday lender.
Although these cash advance loans are easier to get with less hassles there are some qualification criteria that must be met for you to be eligible for a loan. These can be:
- Full time employment for at least 1 month.
- Be minimum of 18 years of age.
- Be a resident of Australia.
- Have a active Australian bank account.
When your cash advance loan has been approved, it will be directly deposited into your bank account within 24 hours. Cash advance loans are short term loans that normally needs to be repaid within 30 days or when you receive your next pay check. On the due repayment date, the amount you borrowed is withdrawn from your bank account. If you want to extend the repayment due date then a small fee may apply.
Even borrowers that have a poor or bad credit history can apply for a cash advance loan, as many payday lenders do not do credit checks on your profile. The application process can be all done online so there are no documentations or faxing of paperwork. This helps to speed up the approval process and creates a hassle free way for you to get your cash instantly. However it is worthwhile shopping around with different payday lenders to get the best deal to suit your financial needs.
Compared to applying for a bank or personal loan, cash advance loans are so much easier, faster and a much less hassle way to obtain quick cash to cover your financial needs.
http://paydayadvanceloans.com.au/ provides information and access to the best online cash advance loan lenders operating in Australia.