Cash advance lenders operate in the industry of payday loans. In simpler terms, cash advance lenders are also referred to as instant payday loan lenders. Cash advance lenders are companies who offer payday loans on the same day, often within an hour without any need of extensive paperwork or credit check. The loan amount that cash advance lenders typically offer can range anywhere from a hundred dollars to two thousand dollars. First time applicants may not be eligible to apply for higher loan amounts with most cash advance lenders. Repeat customers as in those who have a personal history with cash advance lenders can easily apply for two thousand dollars and get them approved in an hour provided their repayment history is desirable.
Cash advance lenders do not require any paperwork, faxing and they do not perform any credit check of the applicant. The details that these companies take into consideration are personal information, employment status, length of occupation at the present job, banking details and other financial information which may be pertain to savings, checking account details and any small to medium investments, if available. Cash advance lenders approve small loans instantly based on the applicant’s ability to repay. The criteria for applying are fairly simple and almost anyone should be eligible. Normally, the requisites are that an applicant must be above 18 years of age, should have a job, should have been working for more than 90 days in the present job, must have a checking account and should earn at least around $800 a month. These are the generic requisites across the industry. Some cash advance lenders may be lenient with the qualifying criteria while some may be a little stringent and may have some additional criteria.
Using cash advance lenders can be of huge advantage especially when you are in an urgent need of cash. It is not always advisable to apply for instant payday loans as and when you feel like but to meet certain expenses which cannot be delayed until the next payday, cash advance lenders can be the best solution.
While working with cash advance lenders, many people prefer to build on a relationship and have a good repayment history so that if a larger emergency crops up some day, the company can bail him or her out in a matter of an hour.