Easy inquiry process
An online inquiry can often be finished in a few minutes
Low credit acceptable
Consumers with a poor credit scores can be eligible for a payday loan
After loan approval by the lender, you can receive your funds quickly
US Cash Advance
Start your way to a Quick Cash Advance
If your rent is waiting to be paid or you have expenses that were not planned for, you may need some extra cash coming your way. At US Cash Advance, we’ll connect you with a trusted lender. The money is emergency cash that can be used for unpaid bills or any other expense, regardless of your credit history.
The inquiry process is fast and easy so you can quickly get an offer from the lender.
Get Started Now
Remember that bad credit isn’t a deal breaker, so this shouldn’t keep you from starting the process.
Frequently Asked Questions
You can borrow up to $500 when you apply for a cash advance loan from one of our lenders.
Minimum age of 18 years old
You need to have a steady income
You need to have a valid checking account
You need to have US citizenship
You can only have ONE payday loan at a time from a selected lender. Remember, there is a required 24-hour waiting period after you pay off or terminate any cash advance loan product before you are able to obtain a new loan.
What are cash advance loans
Cash advance loans are short-term loans often utilized by individuals who need immediate access to cash. This financial instrument can be seen as a lifeline for those with urgent financial needs, serving as a bridge between paydays. However, while they do offer immediate relief, they often come with high-interest rates and potential fees.
These loans are usually structured based on the amount the borrower receives in their paycheck, with the expectation that the loan will be paid off when the borrower’s next paycheck arrives. It’s critical to understand the nature of these loans, as they can lead to a cycle of debt if not managed effectively due to their high costs.
Cash advance loans type
There are primarily four types of cash advance loans: payday loans, credit card cash advances, merchant cash advances, and employer payroll advances.
- Payday Loans: These are the most common type of cash advance loans. The borrower provides a post-dated check or gives electronic access to their bank account for automatic withdrawal on the designated repayment date, typically their next payday.
- Credit Card Cash Advances: Credit card companies offer this service, allowing cardholders to withdraw a certain amount of cash, usually for a fee. The cash advance limit is generally a portion of the total credit limit.
- Merchant Cash Advances: These are primarily for businesses rather than individuals. A business receives a lump sum of cash from a lender, agreeing to pay back the amount with a percentage of its future sales.
- Employer Payroll Advances: Some employers may offer an advance on future paychecks to their employees. This type of cash advance does not typically involve any interest but may involve fees or other repayment arrangements.
While cash advance loans can provide quick cash in emergencies, there are significant pros and cons associated with them.
Cash advance loans pros and cons
- Immediate Access to Cash: The primary advantage of cash advance loans is that they provide quick access to cash. This can be helpful during unexpected financial emergencies or when waiting for the next paycheck is not an option.
- Easy to Obtain: Cash advance loans often have fewer requirements than traditional loans. Lenders generally require proof of income, a valid ID, and an active bank account. The approval process is typically fast, sometimes happening within a few minutes.
- Accessible to Those with Bad Credit: Traditional lending institutions often reject loan applications from individuals with poor or no credit history. Cash advance loans, on the other hand, are typically accessible to those with bad credit or no credit at all. This is because these loans are primarily based on the borrower’s income rather than their creditworthiness. As such, they can serve as a source of emergency funds for individuals who might not have other credit options available to them.
- No Collateral Required: Unlike secured loans, cash advance loans are unsecured, meaning they do not require collateral. Borrowers aren’t at risk of losing personal assets like a house or car if they fail to repay the loan, although failure to repay can lead to other severe consequences.
- Flexibility in Use: The funds from cash advance loans can generally be used for any purpose, from covering unexpected expenses to paying for a medical emergency or home repairs. This flexibility can be particularly beneficial during a crisis when funds are needed immediately and for a variety of potential costs.
- High-Interest Rates and Fees: Cash advance loans often come with exorbitant interest rates and fees, making them an expensive form of borrowing. These costs can accumulate quickly, leading to a debt cycle that’s difficult to escape.
- Short Repayment Periods: Cash advance loans must be repaid quickly, usually within two weeks to a month, or by the next payday. This quick turnaround can make it difficult for borrowers to repay the loan in full, often leading to rollovers or extensions, which come with additional fees.
- Potential for Debt Cycle: Because of their high costs and short repayment periods, cash advance loans can lead to a cycle of debt. Borrowers may find themselves needing another cash advance to repay the previous one, perpetuating a cycle that can be hard to break.
In summary, cash advance loans are a type of short-term lending that can provide quick relief in a financial crisis. However, the high costs associated with these loans make them a potentially risky choice. It’s essential to understand all the associated costs, repayment terms, and potential consequences before deciding to take a cash advance loan. For individuals and businesses struggling with financial hardship, it may be wise to explore all available options and seek advice from a financial professional before turning to cash advance loans.
Cash advance loans vs. other types of personal loans
Cash advance loans are different from other types of personal loans in a few key ways. First, they are usually easier to qualify for, even if you have bad credit. This is because lenders are primarily concerned with your ability to repay the loan, rather than your credit score. Second, cash advance loans are typically repaid in a single lump sum, rather than over a longer period of time. This can make them a good option if you need money quickly and don’t want to be tied to a long-term repayment plan. However, cash advance loans can also be more expensive than other types of loans due to their high-interest rates and fees.
Why choose US Cash Advance
At US Cash Advance, we pride ourselves on offering a fast and convenient inquiry process to customers across the US. We understand that financial emergencies can happen at any time, which is why we offer 24/7 availability to start the process. With a network of trusted lenders, we can help you skip going through lenders online without knowing which one is trustworthy. This not only saves you time but can also save you money and tons of hassle. If you don’t like the offer the lender gives you, you can always turn to other lenders, with no strings attached!