Explicit Finance
Most of us have had it happen at some time or another. We’ve had a great night out with friends and spent more than we should have, or we’ve forgotten our car registration, or some other bill is due that we’ve forgotten or weren’t expecting, like medical bills or funeral expenses. It’s only a few hundred dollars, but if we don’t come up with some cash fast, we’re in trouble. To make it even more frustrating, we have a paycheck coming in just a few days that will easily cover it. If we’ve had a slip-up in our credit—maybe missed a payment or two—and ended up with a bad rating, or if we just can’t get away from work to seek out a loan, things are even more difficult. We don’t want to commit to repaying a large long-term loan, and it would take too long to get the cash anyway.
This is where a cash loan comes in. With the right loan, you can get your cash in as little as 20 minutes, though it will usually be at least 60 minutes. Usually, you will be able to borrow an amount between $100 and $600.
There are, of course, requirements. Obtaining a cash loan is all about your earning power and very little to do with your credit history. Lenders will want you to have a certain minimum net income after your rent or mortgage is paid and to have been in your current job for at least three months. They usually will not lend to self-employed people.
Repayment of the cash loan (plus a charge of some $20-30 for every $100 borrowed) is usually by a direct debit straight from the bank account into which your salary is paid on your next payday. It is possible to rollover for one or more further paydays, but an extra fee is charged each time.
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