What is a No-Fax Cash Loan?
No-fax cash loans are the newest, most convenient way to get the cash you need fast. When lenders first made their loans available online, most required customers to fax certain documents to them for proof of income and to verify your address, and fax back a signed loan agreement once you were approved.
How Much Can You Borrow?
Short term loans are typically approved for small amounts between $100 and $1,000. The actual dollar limit of the loan depends on the state you live in, because each state creates the laws that apply to this type of short-term loan. When you'll repay your loan is based on how often you receive your regular income.
Instant loans Online
Instant loans are available to help you get cash when other options are closed to you. Whether you have bad credit or are just overextended, an instant loan can provide you with fast cash even after the banks have turned you down. Available the same day, these fast loans are extremely easy to get.
Online or in the Store
Otherwise known as payday loans, you are welcome to visit a physical store to apply for and receive the fast cash you need. However, you don’t have to get in the car and drive anywhere. The applications are also available online for your convenience.
With online applications, you can enjoy instant approval without ever leaving your office during lunch or from the privacy of your own home in the evenings. If the lender is closed when you apply, the application will be processed the next business day. Online applications are fully-encrypted for your protection, and you should take steps to protect yourself further by applying only from a private computer.
Instant approval makes these loans extremely fast, but you will have to meet certain minimum requirements. Bad credit is not a problem for instant loans, but you should meet the following requirements.
• 18 years of age – You will sign a legal document either in person or electronically, so you must be at least 18 years old.
• Social Security Number – Bad credit is no problem for our faxless loans, and there is no credit check as far as your score or payment history. However, the Social Security number is used to confirm identity, prevent fraud ad protect both the no fax lender and the borrower.
• United States permanent residency required.
• Working Part-time or Full-Time – Lenders require at least 90 days on the same job before they will issue one of these easy instant loans.
• Checking Account – Funds are deposited electronically, and the repayment is also taken electronically through the same account.
• Valid contact information including phone number and email address.
Bad Credit is No Problem
One of the best features of instant loans is that your bad credit is no problem. Even if you have a bankruptcy or late payments that make bank loans impossible for you, we can still provide you with the fast cash advance you need in a timely manner.
Timing and Amount
Applications are processed as soon as they are received and people usually have approval and funds within 1 hour. Even if there are some questions or concerns, people usually have the money they are eligible for the same day. Lenders offer different amounts, but most working adults can count on quality for up to $1,000.
Receiving the Loan
After filling out the application and receiving approval, people are often impressed at how quick the cash is delivered. The cash can be in your account in an hour or less, and you will access it through direct withdrawal, check or your debit card. Once the cash is in your account, you can use it to cover an emergency, take advantage of a great deal or simply help you survive until the next payday.
Repaying the Loan
Loans are repaid through direct withdrawal from the same account. When you borrow the funds, you will be informed of the fees and your repayment date. All information regarding your small instant loan will be clearly spelled out in the signed contract. When the agreed date arrives, the funds will be withdrawn from your account.
If the loans are not available in your account when repayment for the unsecured loan is attempted, your account will overdraft. You will be responsible for the fees charged by your ban, and lenders will also have fees as a result. These fees can be substantial, but you can avoid them by calling the lender ahead of time. It is possible to make payment arrangements or extend the deadline on the loan. There is an additional charge associated with this service, but it will be lower than the expense of overdrawing the account.
When Instant Loans are the Right Choice
Instant loans get a bad reputation due to the fees and short repayment period. You should weigh the options carefully to determine if they are the right choice in your situation. When you are facing eviction because you’re a little short on the rent, then a payday loan is the right choice. They are also ideal for handling emergency car repairs, and people turn to them commonly to cover court fees or emergency medical expenses.
A valuable tool, responsible use of instant loans can help you avoid expensive late fees and other charges. The process is simple and the money is available fast. Approval is easy, so you can have access to the money in record time. The next time you are strapped for cash and looking for a solution, remember that short-term payday loans are a viable option.