Cash Advance Loans Small Facts

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A cash advance, also named payday loan is a loan taken until your next salary arrives. There are 37 American states where these loans are legal.

Cash Advance Small History

The first state where cash advance loans where approved was California in 1996. After that the law was also passed in other states making the industry of payday loans one of the most fast growing in U.S.

 

More About Cash Advance Loans

Most of the cash advance loans lenders are offering these loans even if yoou don't have a perfect credit score and with no documents to fax. They also approve the applications for people with bad credit history and this is a big advantage over the traditional bank loans where is already very hard to be approved for the exact loan that you want and also you need to wait more.

How much you can borrow

You can borrow from $100 to $1000 and you need to return the borrowed amount when the deadline arrives. You can also extend the loan period but of course you’ll pay some additional fees. Because of the hish interest fees you always need to be careful on the amount that you borrow.

Usual requirements

Each payday lender can have his own requirements in order to approve a cash advance application but there are a few requirements which are used by all the U.S. lenders:

  • Be a U.S. citizen

  • Be at least 18 years old

  • Have a bank account

  • Be employed or have any other source of income