What Is Instant Cash Advance?
Instant cash advances are short-term loans that are processed quickly. They are best suited for emergencies and are thus recommended for settling bills or catering to needs that can’t wait till your next payday.
Like other short-term loans, they have high-interest rates. That’s not to mean that they are not affordable though. You just need to do your due diligence in finding a lender whose loan APR is comparatively lower or about the same as the market average.
If this sounds like too much trouble, approach a loan broker. iPaydayLoans can connect you with lenders with reasonable interest rates and loan conditions.
What Are the Benefits of Instant Cash Advance?
Straightforward application process
The extensive paperwork and rigor associated with loans from traditional lending institutions can make them a less attractive option than cash advances and online loans. Cash advances are easy to apply and can be done from the comfort of your home. All you have to do is fill out a short application form online. This takes only a few minutes to complete.
Near-instant approval
One of the greatest perks of instant cash advances is how quickly approval decisions are made. Traditional loans can take up to three days to get a decision. On top of that, you can get rejected. Why wait so long only to get a rejection later, when you can apply for a cash advance and get a decision in less than ten minutes?
Can be gotten with bad credit
Again, instant cash advances have a bad credit consideration advantage over traditional loans. Your credit score doesn’t need to be perfect or good for you to get an instant cash advance. Once you have a regular source of income, have been at your job for a considerable period, and have a balanced debt-to-income ratio, you are good to go.
Fast deposits
Instant cash advances are usually processed quickly. Some lenders in fact facilitate these deposits the same day if you apply very early in the day. Otherwise, you can get it as quickly as the next business day. Since these advances are taken out for emergencies, cash advance facilitates treating them with a sense of urgency.
How Can I Get Instant Cash Advance Online?
Instant cash advances do not have a tedious application process. Everything is done online and can be completed in a few minutes. It’s even easier and more effective through a loan broker service like iPaydayLoans. With one application, you can reach out to multiple lenders at once.
Here’s what iPaydayLoans application process entails:
Get started with the application process by filling out a simple, short online form. On the form, you will be required to fill in some personal and biodata information like your name, date of birth, age, and contact address.
You may also need to fill in some basic financial information like your credit score and more. This should take less than five minutes. The requested data will help us connect you with a best-fit lender.
Submit the form online and we will forward your application to lenders within our network who have loan packages suited to your needs. They then run affordability and soft credit checks on your profile and make an approval decision quickly. This should take five to seven minutes tops. If successful, you will be sent a free, no-obligation offer.
Take some time out to read through the quote and sign it if the conditions are what you can commit to. The lender begins to process your funding as soon as you submit the contract. Expect to get the approved loan amount in your supplied account information as soon as the next business day.
 | Why Us | |
|---|---|---|
| How much can I borrow? | $50-$35,000 | No hidden fees or charges |
| I have bad credit. Can I apply? | Yes | Bad credit is considered |
| Over how long can I spread the repayments? | 1-36 months | Fast decisions |
| Are credit checks involved? | Yes | Soft credit checks only |
| Chances of getting approvals | Good | 256-bit encryption protocol |
| How to apply? | Apply online | Easy application |
What to Look for When Applying for a Cash Advance?
Speed of deposits
Instant deposits are one of the many conveniences online loan borrowers enjoy. But that’s the case only if they work with lenders that facilitate this. Some lenders take you through lengthy application processes, they can’t make a deposit in less than 72 hours. If you need a quick cash advance, iPaydayLoans is there to help. We will connect you with lenders who can get you a loan deposit as soon as the following business day.
Hidden fees and low interest rates
First of all, compare the interest rates of your loan offers. Always avoid lenders offering loans at extortionate rates of interest. Otherwise, you may be unable to repay your loans and end up in a debt spiral. Also, ask the lender if there are any fees - aside from the interest rate - you should know about beforehand.
Least negative impact on credit score
Cash advance paid well ahead of or on time doesn’t hurt your credit score. If anything, they boost it. If reported to the major credit bureaus, an early payment can cause a little jump in your credit score. What’s probably more important is your credit score not getting lower than what it is now. To ensure this, deal only with lenders that run soft credit checks. Hard credit inquiries can cause a dip in your credit ratings.
Due diligence in searching out a lender
Loans can make or mar you. While you get to solve your emergency, they may take you down into a vicious cycle of debt if you continuously miss payment deadlines. Therefore, you need to take time out to sift through the lender services you find online, and close loan deals only with lenders with more relaxed loan conditions, longer loan terms and lower APRs.
Can I Obtain Cash Advance Online Same Day?
Yes, you can. Our partner lenders are particular about getting people financial support exactly when they need it. Therefore, they do everything within their means to facilitate loan deposits as quickly as they can.
Your chances of getting a loan on the same day are higher if you apply for one in the wee hours of the morning or only a few hours after the lender’s opening hours. This way, the lender can quickly run necessary checks, approve the loan, and process the deposit on time. If your application comes in a little later, not to worry. A deposit can be processed as quickly as the following business day.
Get Cash When You Need It Most
Get StartedAre There Alternatives To Quick Cash Advance?
Same Day Loans
Same day loans are short-term loans taken out by people who need emergency cash injections. The cost of the credit is usually higher than mainstream loan options and the total money borrowed is usually smaller than secured and long-term loans. Consider a same-day loan if you need a quick financial fix, or are in a cash emergency.
Installment Loans
An installment loan is a good credit option if you need a loan to make a large purchase or want to take out more than one paycheck can cover. The total cost of the loan is spread evenly over the loan term, so you make fixed monthly payments till the debt is settled. Spreading the loan’s cost over a longer period makes repayment easier and less financial straining than cash advances. The loan term typically ranges from 3 to 36 months.
Payday Loans
Payday loans are also a good alternative to consider if you need to cover short-term emergency costs between paydays. They usually come with extremely high interest and so, it's best to keep in mind that you should only take out what you can afford to pay back with your next paychecks, or in two paydays to come.
Title Loans
If you are the outright owner of a vehicle or have some reasonable equity in it, and so, have its title, you can tender it as collateral for a loan. The lender holds on to the car title till you pay back the money owed. Like other forms of secured loans, title loans attract lower interest rates than payday loans. The borrower can also be approved for bigger loan amounts.
How much would you like?
FAQs:
Is there a requirement for applying for an instant cash advance?
To qualify for a cash advance from an online lender, you must be at least 18 years old, have a verifiable source of income, be a US citizen, have a verifiable phone number and email address, and have a valid, personal checking account for receiving deposits.
Is it possible to get a quick cash advance with bad credit?
Yes, you can. Instant cash advance lenders have a way of evaluating lending risks other than credit history. Lenders pay less attention to the borrower’s credit history and more to their borrowing history, income, and spending history. With this, they can tell if the borrower can afford more debt, or has enough disposable income to pay off the debt, and within schedule.
Is there a fee for using your service?
No, you won’t need to. Unlike many other loan broker services or direct lenders, we do not charge a dime for connecting you to lenders or facilitating your application. There are no hidden fees either. We have a mutual understanding with the lenders and get commissions from them instead.
Can I get an instant cash advance online with no credit check?
Yes, you can. But not literally. Not literally because no credit checks aren’t exactly no credit checks. Since borrowers are wary of hard credit inquiries and how much hurt they can cause to their credit scores, we connect you to only lenders who run soft credit checks. These checks don’t affect your credit ratings.