Quick Cash Loans
Finding Quick Cash Loans Online
Quick cash loans are available from many different lenders. The lenders are usually independent lending services that provide quick cash loans to an applicant over the age of 18, but some banks and credit unions also offer quick cash loans. Quick cash loans can be used for any purpose.
Quick cash loans are easy to find, but not all lending services that offer quick cash loans are reputable or offer rates competitive with other quick cash loan lenders. A simple web search for “quick cash loans” will reveal hundreds, if not thousands, of lenders who provide quick cash loans. The payment of quick cash loans is due in short term, usually between 7 to 30 days. The payment is usually due in one payment, although some lenders will allow payments to be made in installments.
Quick cash loans from a payday lending service are meant to fill a temporary gap when a bill is about to come due and cash flow is a problem. Quick cash loans are also used to cover an emergency repair or replacement of an item that just cannot wait until the next payday to be repaired or replaced.
Since the finance charges are high, the loan should be paid in a timely manner to avoid late fees that will make quick cash loans even more expensive. Quick cash loans are seen as loans that take advantage of those who have cash problems. For those with credit problems, quick cash loans are the only option to get much needed cash quickly. The finance charges are $15 to $35 per hundred dollars borrowed and the loan is paid back within 7 to 30 days. It is a very short term loan meant to fill a temporary cash flow program.
Quick cash loans are also available from pawn brokers who will lend cash in exchange for an item of equal value. The item is used as collateral and the pawn customer has the option to repay the loan plus interest and retrieve the item. The loan offered is usually between 30 to 50% of the real value of the item. The cash is paid on the spot without the benefit of a credit check or cosigner. The customer has 30 days to pay the loan and if not paid the pawn broker will sell that item to recover the loan and the associated costs. The pawn broker is required to notify the pawn ticket holder 14 days prior to selling an item, giving the customer one last chance to pay off the loan and retrieve the item.
Quick cash loans are nothing new; however they have become a huge business in the financial world. Quick cash loans were once offered by mom and pop stores back in the day when a customer needed a few extra dollars until the next pay check. The loans were given to those who had steady employment and a regular income and were not based on the credit score of the customer.