The following is a list of
the most common questions most lenders get about cash advance loans, the
lending process, or services
in general. Keep in mind that each lender has different specifications for their loan products, so be sure to ask your client service representative for more details.
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What is a Cash Advance,
Payday Loan, or Paycheck Loan?
Though the name varies from
person to person, all of these
terms mean the same thing. They
all provide you with an unsecured,
short-term loan until your payday.
Customers choose payday advances
to cover small, unexpected expenses
while avoiding costly bounced-check
fees and late payment penalties.
With Urgent Cash Loans,
you can sign up for cash advance loans
online and have your cash electronically
deposited to your checking or
savings account -- we do this by finding a lender for you using our industry connections.
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What about Qualifying?
Qualifying for a payday advance
is easier than qualifying for
traditional credit. Each of our lenders has a different set of requirements, which generally include:
• Currently have a job
(or receive regular income)
• Make at least $1000 per
month
• Are 18 years of age or
older and a U.S. citizen
• Have checking account
or savings account with direct
deposit
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Does the process take
long?
Customers typically receive
approval within hours of applying.
Since the money is wired directly
into your checking or savings
account, you can usually have
access to your funds the very
next business day if approved. Again, this will vary from lender to lender, so be sure to ask your customer service agent before you agree to take out a loan.
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What if I have bad
credit, NSF’s, charge-offs
or a bankruptcy?
Not a problem! Many of our lenders are happy to provide you a loan even if you have less than perfect history.
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What about collateral
to receive a loan?
No. Your job and your paycheck
are your collateral.
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Is my application and
financial information secure?
Absolutely. We respect our customer’s
privacy needs in managing their
personal finances. Our site
uses a variety of security measures
to maintain the safety of your
personal information. All sensitive
information transmitted between
your browser and our website
uses 128 bit Secure Socket Layer
(SSL) encryption technology.
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How often should I
use this service?
Whenever an immediate or urgent
need arises, Urgent Cash
Loans is here to help match you with a payday lender. It is
important to remember that a
payday cash advance loan is
a short-term answer to an immediate
cash need. Payday loans are
not intended for repeated use
in supporting an on-going budget
situation from payday to payday.
Repeated use or reliance on
payday loans can create serious
financial difficulties. If you
need help with credit, budgeting
or debt management, please contact
the National Foundation for
Credit Counseling at 1-800-388-2227.
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How soon do I have
to pay back the loan?
Cash advance loans are
generally repaid back when you
receive your next paycheck.
The standard time for loan repayment
is usually no less than seven
days and no longer than eighteen
days. This will vary from lender to lender, so be sure to ask your customer service agent for their specific policy before you agree to any loan offered to you.
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*Some additional
terms and conditions may apply.
Please ask your loan consultant
about all of the repayment options.
