Many a time, we face this problem; the problem is sudden shortage of cash. In such cases, most of the people try to recover their cash crisis by borrowing money from friends. But at the same time, it is also true that every time it is impossible to get help of friends to come out of cash crunch. Cash advance loan works here properly.

As a short term basis loan, cash advance loan is synonymous to “payday loan“, “paycheck loan”, “check Loan”. With this loan, a borrower can cope up his short-term cash needs. But before applying for cash advance loan, borrowers need to fulfill some requirements. These are like,

•A borrower should be a full time employee
•Having a regular income is necessary
•The age of borrowers should not be less than 18 years
•Presence of an active checking account is mandatory
•And borrowers’ income should not be less than ₤1,200.

Based on the borrowers’ income, the borrowed amount is decided. However, as cash advance loan, one can borrow anything in between ₤100-₤1000. Since these loans are short term loans, thus the amount is repayable within 14-18 days. But one can extend the repayment period up to one month. In that case, he may have to pay some extra fee.

Due to the short tenure, lenders charge a high interest rate on cash advance loan. Moreover, borrowers have to pay a fixed fee, ranging from ₤15-₤30 on per ₤100 borrowed. In such cases, making some efforts can be a benediction for borrowers in getting some relaxation on the interest rate of cash advance loan. First and foremost effort is to look for various lenders. Meet various lenders personally, ask for their loan quotes and next compare various loan quotes, as it will help you in finding a better deal. And in case if you are short of time, you can opt for online option, as many lenders offer cash advance loan online.

Swift and easy availability is an added advantage of cash advance loans. It does not take much time to get the amount credited in borrowers’ account. The application process of cash advance loan is very simple and it takes hardly few minutes to fill up the application form. After applying for the loan, borrowers can get the amount on the next working day.

Cash advance loan is made for all sorts of borrowers. Generally, while providing the loan, lenders do not check borrowers’ credit score. Therefore, all poor credit scorers like CCJs, IVAs, bankruptcy, defaults, arrears can get the benefit of this loan.