A $500 short term cash advance loan can be a lifesaver, if you find yourself in an emergency situation or need to pay your monthly bills. You may be short a few hundred dollars to pay your rent, car note, utility bills or groceries.
With recent advances in technology, specifically the internet, you no longer need to go to a payday loan store and stand in a line, fill out a paper application and wait to see if you are approved for a loan or not. You can get a $500 short term loan online in a few hours to 24 hours. You simply have to complete an online application, which requires no faxing. A loan agent will call you back to verify your information and notify you of approval in a few minutes.
How Do Cash Loans Work?
Short term cash loans are offered to consumers with all credit backgrounds - good or bad. They are usually offered for 14 days and are payable on your next paycheck. If you use an online cash lender you can usually get approved for a loan in a few minutes. If you are approved for the loan, the cash is wired to your bank account. When you get your paycheck you pay off the loan and the associated fees, which is based on the interest rate of the loan.
What are the Cash Loan Qualifications?
Short term loan qualifications are usually flexible. You have to be 18 years or older and earn more than $1000 net after taxes. You also need to have a bank account. Since these loans are unsecured loans, you don't need collateral such as a house, car or other valuable assets to secure the loan.