What’s it all about?

Instant cash loans are designed to get you help when you have an unexpected expense or an emergency that can’t wait until payday. They are paycheck advances with a very high rate of interest or service fee that you will repay quickly. It’s about having a little cash NOW and not about financing or getting a loan to buy an item you can pay for over time.

How can you get an instant cash loan even if you have bad credit?

This product is also know as no credit check loans due to the fact your financial history is not investigated when you apply. Instant cash payday loans approval is based on your employment being verified and how much you earn, not on your credit rating so bad credit is irrelevant. So it is very easy to get approval and the funds will be electronically deposited into your bank account, in most cases, within a few hours, overnight or on the next business day.

How do you repay the fast loans?

When you receive the funds you will also be told exactly when the balance is due and how much the fees are that must be repaid. You must pay the FULL amount of the small loan, or in some cases at least the service fee on the due date. The money will be withdrawn from your account automatically in most cases.

How much can borrow instantly?

That will depend on how much you earn, what state you live in and if it’s your first time or if you are a return customer. Most cash loan companies will lend $100 to about $300 easily enough even for the first time. After that you may qualify for up to a couple thousand if you earn enough and the state you live in permits it.

What’s the Interest Rate and How Much will the fees be?

Although the rates are based on an interest calculation, most instant approval cash loan companies call such really high interest rates “fees” and they are usually a flat rate based on a specific short period of time. In most cases the flat fee will equal about 25% of the borrowed amount. It may be less or more depending on the state regulations.

What Happens if you can’t Repay the Full balance?

You have anywhere from 5 days to a week or even up to a month with some companies to return the money and the fees. It is assumed you will pay in FULL on your next payday. If you cannot pay, the interest rate charged will keep you in debt for a good long time. They are not intended to be used as long-term loans as you will see by this example: Let’s say you borrow just $100. Now you owe $125. You can pay just the $25 and carry the principal forward and you will be charged another $25 which will be due on the next due date which could be as little two weeks from the last due date. As you can see the $100 could quickly become a massive debt if not paid in full on the FIRST due date. DO not get an instant cash loan till payday unless when payday arrived you can pay it back.

Remember: A payday cash advance is a very useful tool IN A PINCH or an EMERGENCY. It’s not a scam. It’s a legal contract that you agree to that clearly states it’s terms and service fees up front and for which you are responsible (even if later, with a clear head after the crisis, you realize how exorbitant they are). If you get an instant cash loan online without understanding the fees it is seldom because the company had hidden them. Most companies state very clearly their terms and if you feel they are unreasonable then you should not apply.