Emergencies often do not coincide with paydays. Sometimes, having cash on hand can solve an emergency. One of the fastest ways to get the cash you need is through a cash advance.
A cash advance is a loan. Often the companies require a very short application, a copy of your paystub and a copy of your latest bank statement to approve the loan in about five to ten minutes. Use the cash as you see fit, and then at your next payday, pay back the loan along with interest and fees.
These loans can help to meet your needs when facing a medical emergency, prevent shut off of a utility or even provide a little extra cash to help ends meet the week before payday. If necessary, some locations allow the borrower to roll over the loan for a second or even third term by paying the interest currently due.
While a cash advance is not meant to be a long-term solution to financial problems, the loans can help to meet immediate needs, especially when other types of quick credit are not available. Most organizations will lend up to a certain percentage of one’s paycheck without credit checks. Even if you thought you could not qualify for a loan, you probably qualify for a cash advance.