Emergency Loans with Instant Approval

When you're in a tough spot financially speaking, a payday loan can help you cope with your issues. Many of our customers use payday loans when they lack a couple of hundred dollars to complete a purchase. Whether the prices have gone up or they need to pay for additional transportation expenses, extra cash comes in handy when you're redecorating.

How Instant Approval Payday Loans for Bad Credit Work

The process of getting a payday loan is straightforward:

  • You need to decide on the lender you use.
  • You have to fill out the application form on their website or at one of their in-store locations.
  • If you qualify, you get your money in one business day.

They are called instant approval loans because direct lenders only take a few minutes to make a lending decision. That is a record, compared to personal loans, for which the application process may take a few days or even weeks.

Short-term cash advances have lower interest compared to credit card loans. They don't require collateral and make it easy for almost anyone to apply and get approved.

How to Avoid Scams

Most payday lenders advertise no credit checks and guaranteed approval. Nonetheless, they all do a soft credit check and cannot guarantee approval without first looking into your financial situation. If a lender requests you to pay anything before receiving the money, that is a red flag.

Avoid intermediaries at all costs. These people will ask you to pay a fee for their services. Consequently, you will end up paying more. On top of that, transferring your details through third parties that you don't trust can be dangerous. Scammers could jeopardize your security.

Terms and Fees for Instance Approval Loans

Payday loans require little or no credit checks, making them accessible even to borrowers with poor credit ratings. A short-term loan comes at a flat fee ranging from $10 to $30. That is, if you take a loan of $200 at a fee of $15, you will have to return $230. The usual term of a payday advance is between two and four weeks. The same $200 loan that you would take for a term of 14 days would have an APR of 391%. This is a typical annual percentage rate for short-term loans. Origination fees may also apply, depending on state laws. Read your contract to learn about all the charges associated with your loan prior to signing the dotted line.

Takeaway: Applying for and getting an emergency loan with instant approval is easy. Make sure you avoid scams and are fully aware of all the fees before deciding to take a cash advance.