There are many needs and emergency situations in which we need emergency cash. Most of us want emergency loans and such other programs offered by many loan providing companies.  There are many loan providing companies that are providing loans for emergency needs. You can get a handsome amount of loan cash on the same day.

Those people who are holding bad credit score and bad credit history can also avail this offer and can also get a handsome and good amount of loan for the emergency use.

Characteristics of instant cash loan

There are many loan providing and financing companies available in the market that are providing loans to different emergency situations on very low and reasonable interest rates. These loans are also offered to bad credit score and history holders.

Following are some important characteristics of such loans:

Instant cash by Payday cash advance loan

Payday cash advance loan provides instant loan to every person. You can borrow up to 1000 dollars for your emergency use. These companies will provide you, your desired amount of loan on the same day. There are also different conditions to borrow this loan for example;

• The borrower must be a U.S national.
• The borrower age must be above 18 years old.
• The borrower must be working or doing a full time legal job.

The lending companies need an agreement with the borrower for the refund of money. The financing company will transfer your desired amount within 4 to 5 working hours, in your bank account.

Car financing companies also provide instant cash for your emergency need

If payday cash advance loan is not sufficient for your emergency need you can borrow a large amount of loan from car financing companies. You can borrow almost more than 30 to 40 percent of your car value from any car financing company. In this case there are no strict and hard rules. These companies do not need U.S nationals or full-time job criteria. These loans are also known as secured loans as these loans are easy to pay back and financing companies are more secure in providing such loans. In these types of loans, if you do not pay your loan installment the car financing company can also repossess your car.

Loan from a pawnbroker

These loans are very convenient and reasonable for the unemployed persons. These loans are also offered to those people who are holding bad credit score and credit history. You have to deposit some precious thing as a security to the financing company.

You can deposit jewelry or any such other item. In this loan type you have to identify your self and once they get your identification you will get your loan amount in few hours.

Rate of interest charges against such emergency loans

Normally the rate of interest is very high for such emergency loans. These financing companies charge more interest rate than normal and ordinary financing companies. Most of the companies are charging 75 dollars, if you borrow 300 dollars. The repayment of the interest and the loan amount will be according to the terms and conditions of the agreement signed at the time of borrowing the loan.

Pros and cons

You can borrow an emergency cash advance loan for many purposes. You can pay your house rent or even can repair your car by using the amount of borrowed money. These loans can also help you to maintain your credit score or credit history. On the other hand the interest rate is very high and it creates a problem in repaying the borrowed amount. So you need to repay the amount of loan as soon as possible.