Explicit Finance
You desperately need cash to pay medical bills or have your car fixed or for some other unexpected expense, payday seems forever away, and the bank won’t give you a loan or an overdraft because your credit rating is way low or non-existent. A cash loan online may be the solution for you.
This is a short-term loan that usually must be repaid within 14 days or from your next paycheck, though it is often possible to get an extension (for an additional fee) up to as long as two months on this type of loan. Any adult who has an active bank account and has been working in the same job for at least the past three months and earns a certain minimum (say $1000 a month) will usually be eligible for a cash loan online and can receive cash up to $500 for a first application almost immediately.
In some cases, the lender will require documentation to be faxed to them, while some use Teletrack to crosscheck the supplied information. However, there are online lenders who will just go on the information supplied, without any other requirement or verification procedure. This means you can apply online 24 hours a day 7 days a week from anywhere that has an online computer and be approved immediately (you will be notified by email). In most cases, if this is an hour or two before normal office hours, the cash will be in your bank account the next business day.
The convenience, ease and speed of getting a cash loan online must be balanced against the cost. You could be charged anything up to $25 for every $100 you borrow and be hit with this fee every time you extend. However, fees, terms and conditions do vary from lender to lender and it pays to shop around. It can still be cheaper than copping late fees and other penalties and is certainly better than having your electricity or phone cut off.
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