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Life sometimes throws situations into our faces, which require dealing them with cash: healthcare bills, repairs, fixes, fines, or sudden holidays. These & many more require a fast payday loan. We’re considering its nature & principles in this article.
A payday loan is also called quick cash lending, instant lending, same-day, or next-day lending. The nature of quick payday loans online is that they are:
given to a wide range of borrowers, even having bad credit history & score
considered within minutes or hours after completing a credit application
given for short terms (from days to a couple of months at most), usually aiming at being fully repaid with the next paycheck
given in small amounts (from hundreds to thousands of dollars)
credited into a borrower’s bank account
not controlling the purpose of spending.
Faaastcash is a lending company with a high approval rate (over 80%) of emergency money. It allows borrowing money at a low rate to borrowers of all ranges of official incomes, who minimally correspond to pre-set requirements (like legal age, official employment & salary, stable residential address). Below, we list the advantages of Faaastcash.
Faaastcash is a financial intermediary, which connects potential borrowers-natural persons to over 100 lenders across the US. After a lending application is approved, a guy is contacted by phone by one of the licensed lenders to agree on terms of crediting, after which the money flies to a bank account, being credited there within 24 hours in business days.
The entire application process is quick & goes online. It is only needed to fulfill a 1-page application on the Internet & wait for the pre-approval, which typically comes in several seconds or minutes 24/7/365. A lender is then contacting a borrower within business hours of the same or the next working day to conclude the agreement.
There are only a few typical requirements to gain some quick dough:
be of legal age (18 or 21, depending on the state)
have a bank account to receive money on it
have a stable workplace with official salary received to that or another bank account
have a stable residential address in one of the applicable states in the US
not to have other open unfulfilled fast cash contractual obligations
to be able to explain what the money is needed for.
For some lenders with poor credit, it is possible to improve it over time by receiving & repaying fast cash credits, which would be impossible with standard bank lending, as banks deny bad-credit borrowers.
Obtaining payday loans is fairly simple: there’s no need to go anywhere in person or to fax forms. Only apply online in an easy several-step process, which only takes about 5-15 minutes to complete. After verification by phone with one of the lenders, the money is released onto a bank account.
A payday loan is a form of quick cash, which is needed for urgent payments (that have to be done within the closest few days) should they occur. As it is a short-term no-collateral credit given upon request with a limit of up to several thousand bucks, it is expensive & should not be used to replenish a normal cash flow.