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by Steve B. Spokesperson for FaaastCash
What Is a Cash Advance Loan?
A Cash Advance loan is a short-term loan that gives you some extra cash when you need it before your next payday! The loan amount is usually between $100 and $1000 but a few lenders may lend larger amounts. It is recommended that you should request a cash advance loan only when you have exhausted other, less costly ways of getting emergency cash e.g. friends and family, credit cards, etc.
References: “What is a Payday Loan?” Consumer Financial Protection Bureau, 16 March 2016, https://www.consumerfinance.gov/ask-cfpb/what-is-a-payday-loan-en-1567/
But if you have no alternative, a cash advance loan can be a smart choice. Just be sure that you can pay back the loan on the terms explained to you by your lender. Terms and conditions vary so ask any questions you may have about your specific loan. You do not have to accept a loan offer from a lender if you are approved.
Created on Nov 22nd 2019 07:15. Viewed 418 times.