Most of us have observed the emergency source of money to carry on house hold or different other necessities of life are “fast cash payday loan”. It provides advance for any purpose regardless of knowing the reason, as they can ask for the reason in the submission form but it would not act as an obstacle if the reason is not genuine. It is superlative for those customers who have negative credit history as it is quick same day loan with no credit checks. Fast cash payday loan offers pledge to customers that are rejected by the banking sector. Although it should be considered as short term loan, as it can free someone from big financial problem.

Qualifying for an Easy Cash Advance from a Payday Loan Lender

Although instant cash today doesn’t require any credit checks, it is still essential to meet bad credit loan necessity. Purpose is the lender wants to make confirm that the application is not a deceptive one or it has been submitted by a fraud individual. The criteria for quick same day loan are as follows:

•    Person must be over 18 years of age.
•    A U.S. citizen or nationality holder.
•    One photo I.D. and two forms identification forms.
•    If you are having full time job then your monthly income must have to be over $1,000.

• A valid bank account for the transfer of money.

How to Get Instant Cash Today

Once all the above mentioned criteria are accumulated, a fast cash payday loan is a pledged and approved. The customer should provide the lender a postdated check set to clear on the day of payment and any interest that will accrue. As all the requirements have been fulfilled successfully, emergency advance cash would be transferred to customer’s account. If the application is made prior to 2:30 pm funds would be transferred within some hours.

Rate of APR on a Fast Cash Payday Loan

If some one borrows the cash of $500, it will attract interest of $125 in just 30 days. There are two reasons why the interest rate is so high:

1. It is short term emergency advance in which lender have very little time to recover all administrative costs.
2. Majority of the customers usually have bad or poor credit history.

On the basis of these two reasons interest rate is kept high. In order to make it worthy for the lender, interest should be sufficiently high.

Advantages and Disadvantages of Guaranteed Fast Cash Loans

Advantages:

1. A fast cash loan is available for individuals with no credit checks.
2. Bad credit lenders accept the applications of those customers who have been rejected by the banks.
3. An easy cash advance can get someone out from the very big problems as to pay the rent of the house to the small ones as to pay the electricity bills.

Disadvantage:

1. As the interest is usury, that can increase the family’s strain for paying the debt back after just a month.
2. Failing to repay the borrowed money on the due date will lead to accruing interest quickly.