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Online Cash Advance

Need extra cash urgently? Then, getting a cash advance loan online can be a suitable option. Use iPaydayLoans today to assist you in finding safe and secure cash advance loans online.

How Much Do You Need?

$2,500
$2,500
Want to borrow more than $5,000? Click here!

What Is a Cash Advance and How Does It Work?

When faced with an unexpected situation that is beyond your bank account's limitations, the best way to come up with extra cash is by getting a cash advance loan. It's short-term funding that can be taken out from a bank, credit union, or online lender. With iPaydayLoans, you can apply for a payday advance loan by submitting a simple loan application form online and expect to get approved and funded in as little as 24 hours.

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Types of Cash Advances

There are three major types of cash advances that are predominantly used. They are:

Credit Card Cash Advances

Many credit card providers offer this feature where you can get cash advances using your credit card up to 20 % to 30 % of your credit limit. This is a short-term loan that you must repay within 1 to 3 billing cycles.

Merchant Cash Advances

Small business owners can utilize this cash advance type to get funds based on the sales they have made in the past and the possible outcomes of future sales. If your business is one with reasonable sales, then you are likely to be approved for this type of cash advance loan.

Payday Loans

Payday loans, or payday advance loans, are a type of unsecured cash advance loan that people with poor credit scores often opt for. They are designed to help you pay your immediate or unforeseen expenses. This loan needs to be paid on or before your next paycheck.

Pros and Cons of Cash Advance Loans Online

Pros

No collateral needed

A cash advance online is an unsecured loan. You don't have to pledge any assets to get the loan.

Can be used in emergency situations

If you have an unexpected financial need and cannot wait till your next paycheck, a payday advance can come to your rescue.

Simple application process

Applying for a cash advance loan is simple and it does not require any underwriting procedures.

Cons

High APR

The annual percentage rate for a pay advance is quite high as opposed to credit cards and personal loans.

Can put one on an endless debt cycle

Because of how steep its interest rates are, paying up within the agreed loan period may be difficult. Sadly, that's not the only thing you grapple with. You may also have to worry about late payment fees.

What Do I Need to Apply for a Payday Advance?

To apply for a payday advance loan, you will need the following:

  • Government-issued ID or driver's license
  • Official documentation of social security numbers
  • Proof of source of income
  • Checking account
  • Valid and operational phone number
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How to Get a Cash Advance Loan Online?

The application process for a cash advance loan at iPaydayLoans is a classy example of ease, convenience, and straightforwardness. None of the heavy paperwork involved in bank loan applications comes into play here, nor do you have a long list of requirements to satisfy.

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    Apply Online

    It begins with filling out a form here. All you will be required to enter are basic personal bio and financial data. Submit it and your loan request will be sent to a panel of lenders.

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    Get Quotes

    Lenders take up your application and run soft credit and affordability checks on your profile. If approved, they send you a no-obligation quote. Compare offers from different lenders and pick one.

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    Receive Funds

    Sign the offer presented in a quote to make it a contractual agreement, and you can expect to get paid soon. You should get funded as soon as a few hours from then or the following business day.

Why Are Cash Advances So Expensive?

Though getting a cash advance is the easiest way to get money on your hands, it is also quite expensive. This is because it comes with quite a lot of costs such as:

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Cash Advance Fees: You will have to pay a fee for credit card cash advances. These are levied by your card issuer which is usually a percentage of the amount advanced.

ATM Fees: These are charged by the owner of the ATM or the bank or financial institutions from where you get the advance.

Interest: Cash advances begin accruing interest at the time of their withdrawal as no grace period is available which makes it quite expensive. The interest rate is also higher than the rates charged on purchases.

Alternatives to Cash Advances

Since cash advance loans usually have high interest rates, it is a good idea to consider alternatives that are less expensive. Here are a few options that you can consider:

Title Loans

Title loans let you use your car title as collateral for a sizable amount of money. You don't even need to hand over your car to the lender and since you'll be using your car title to secure the loan, your credit score is of little importance here and it is the most suitable loan for people with bad scores.

Personal Loans

Do you want to finance a car repair, purchase, utility bills, or even go on a vacation? You can get a personal loan to do so. Personal loans have a relatively longer term, usually between two to five years. Their interest rates are also lower than cash advance loans.

Borrowing from Family or Friends

This is the cheapest option as in most cases you will not have to pay heavy interest on the amount borrowed. Plus, you may not have any security issues as you know the lender more personally.

Overdrawing Your Checking Account

Rather than taking a cash advance, you can overdraw from your checking account using your debit card. This way, you will not have to pay any interest on the amount overdrawn. The fees for this service are usually lower than cash advance fees.

Learn More about Cash Advance

FAQs

  • 1. Is a cash advance similar to a payday loan?

    Yes, a cash advance, also called a payday loan or payday advance loan, is a type of loan that is typically used in case of an emergency where you need cash immediately. It's usually short term and should be repaid when you receive your next paycheck.

  • 2. Can I get a cash advance online with bad credit?

    Yes, you can. There are bad credit lenders who can still provide you with a cash advance loan online if your FICO score is bad or below the 'fair' rating. You may be expected to pay higher interest rates though.

  • 3. Are online cash advances safe?

    Yes, they are safe and secure. However, it is always wise to check the lender's terms and policies before sealing the deal.

  • 4. When will my cash advance be due?

    It depends on your credit card vendor and the amount of money you are borrowing as a cash advance.

  • 5. When will my cash advance be due?

    It depends on your credit card vendor and the amount of money you are borrowing as a cash advance. If what you take out is a payday loan, then it will be due before your next paycheck.

  • 6. What is the best way to find a cash advance near me?

    iPaydayLoans offers the safest way for you to find cash advance stores near you through a simple online search process by entering a zip code or city name.

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Get Money With Cash Advance Today!

Want immediate cash for fulfilling your pressing financial obligations? iPaydayLoans makes it easy for you to get cash advances from direct lenders online - right from the comfort of your home. Get started now and receive the money you need today!

Get a Quote

iPaydayLoans is a company committed to connecting borrowers to hundreds of reputable online lenders to apply and get small-dollar payday loans quickly, easily, and securely, helping cope with life emergencies like paying medical bills, home, or car repairs, and so on.

Customer Note: A payday loan is traditionally used to help people borrow a small sum of money until the next upcoming payday. It's a short-term solution to cover unexpected expenses when people have no savings or deep pockets. Those who find themselves in a bind with their budget and want to refill it with credits should seek the advice of a professional financial assistant. A borrower also has to peruse local regulations related to a payday loan.

Availability: The service of this platform may not be accessible to people based in restricted states. Please check the local regulations to find out its availability in the area. Rules of this website are subject to change without notifications.

NOT A LENDER Disclosure: iPaydayLoans is not a lender but a broker and does not charge you any fees for our broker services. The lenders or other broker services we introduce to our customers through this website may pay us commissions if customers enter into a credit agreement with them.

Disclaimer: iPaydayLoans is not a lender, does not take applications or make loans or credit decisions. We are not an agent, representative or broker of any lender. We provide a service to connect you to a lender from our network. We do not control and are not responsible for any lender's actions or decisions.