May 30, 2009
What is a Cash Advance Loan? Why would you get one, and how do you get one?
A cash advance loan is a way to borrow money for a short period of time. You pay interest that is around $15 on each $100 you borrow. The loan period is usually two weeks, or until your next payday if you are paid monthly. There is no credit check, but you do need to provide certain identification and bank information. In most cases, you need to write a check dated the day you get the loan, or sign an ACH approval form for automatic withdrawal in case you do not get back in on the due date. If you do not get back to reclaim your check, it will be deposited, or the ACH will be processed to repay your loan.
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