Can I Get a Cash Advance Online?
If you need money quickly, an online Cash Advance can be a convenient option. Cash Advances are often used to help cover unexpected expenses or get some extra cash before your next paycheck.
Filling out an online application and getting approved is easy, and you may even receive same-day funding. Here’s a closer look at how online Cash Advance loans work and how you can apply for them.
What is a Cash Advance?
Cash Advances are small, short-term loans that are offered by many direct lenders. These types of loans can be a lifesaver when you’re in a financial crunch. In some cases, you can get approved for a Cash Advance online quickly and receive the money the same day or on the next business day.
The reason for a fast approval and funding process is that Cash Advances are typically small-dollar loans. Depending on where you live, state regulations limit the amount you can borrow to a few hundred dollars, although this will also vary according to your income and loan provider.
5 common types of online Cash Advances
There are a few online loans you might consider, including:
Payday Loans
Payday Loans are the same thing as Cash Advances. They’re short-term, small-dollar loans that you repay when you get your next paycheck, usually within two to four weeks. For every $100 borrowed, you’re typically charged a fee set by the state in which the loan is originated.
You can usually apply for a Payday Cash Advance online with Advance America and receive your funds within 24 hours of approval.
Installment Loans
You might consider an Installment Loan if you’d like to borrow a larger amount of money than you can afford to repay with your next paycheck. Instead, you pay back the amount borrowed, plus any fees and interest, in monthly payments – a.k.a. “installments.” If you apply for an Installment Loan online with Advance America, you’ll receive an approval decision quickly.
Title loans
Title loans offer cash in exchange for your car’s title. The value of your car, among other factors, will determine how much money you can borrow.
Advance America partners with LoanCenter in select states to offer title loans online or in-store.
Lines of Credit
Lines of Credit are flexible because they’re kind of like digital credit cards. You can withdraw as much or as little as you’d like up to your available credit limit, and you’ll only pay interest on the cash you borrow.
If you apply for a Line of Credit online with Advance America, your maximum credit line will be based on several factors, including income and credit history.
Merchant cash advances
Merchant cash advances are a good option for small business owners. You can receive the money upfront and use a percentage of your sales to repay it. You won’t necessarily need good credit or collateral, and you can still enjoy fast cash and flexible repayment terms.
Key benefits
There are numerous reasons for applying for a Cash Advance loan online:
It’s easy to apply
Whether you apply online or at a physical location, the process of getting a Cash Advance is fast and easy. With Advance America, you can apply online in minutes, or in person at your nearest Advance America location. We have more than 800 stores in the U.S., which means you’re never too far from one.
Enjoy a quick approval process
In addition to a fast and easy application process, Cash Advance loans typically have fast approvals. While approval time will vary from lender to lender, many Advance America approval decisions take just minutes.
Get same-day funding
Because of how fast the approval turnaround time is with Cash Advance loans, you should also get your funds very quickly! At Advance America, for example, you generally receive your funds the same day you apply for a Cash Advance if you’re approved before 10:30 AM EST. If you apply and are approved after 10:30 AM EST, you will receive your money on the next business day.
When you’ve applied online, you’ll receive your funds via direct deposit to your checking account. In-store approvals may offer funds via cash, check, or direct deposit, depending on your preferences.
Cover any necessary expenses
Once the money is in your possession, you can use it for whatever you want. The most common uses for Cash Advance loans are for emergencies, such as medical bills, car repairs, and home repairs. You can also use the funds for ongoing expenses when you’re short on cash, such as utility bills, groceries, or gas.
You can get approved without good credit
Having a good credit score isn’t a prerequisite to get approved for a Cash Advance loan. Whether you have bad credit or no credit history at all, you can still get approved. Direct lenders offering online Cash Advances often look at your income, outstanding debts, and employment status when considering you for a Cash Advance.
How to apply for a Cash Advance online
If you’d like to apply for an online Cash Advance, here’s what you need to do:
Choose your loan
Because there are a number of Cash Advance loans available online, consider all your options. Weigh the pros and cons of each and choose the best one for your individual needs and financial situation.
Gather all necessary information
Before you apply for a Cash Advance online, you’ll need to collect all necessary information and documents. These may include:
- Driver’s license or another form of government-issued ID
- Social Security number
- Recent pay stubs
- Bank account documents
Submit your application
Visit the lender’s website and fill out the online application form. This will usually be a simple process that may only take several minutes.
Get an instant decision
Depending on the lender you select, you may receive an approval decision instantly. You’ll know right away whether you’re approved and won’t have to wait days or weeks.
Receive funds quickly
Most online Cash Advance lenders will distribute your funds via direct deposit, sometimes as soon as the same day. If you apply late in the day, however, you may not receive your funds until the following business day.
Should I get a Cash Advance online?
Cash Advance loans are one of the best loan options when you need money in a hurry. However, while they have plenty of upsides, like easy applications, instant approval decisions, and fast funding, they may not be right for everyone.
For instance, depending on who your lender is, Cash Advance loans typically have a flat fee rather than accruing interest. We typically charge around $15 per $100 borrowed rather, which may equate to a higher percentage than the interest on traditional loans, but there won’t be any surprises.
You also want to make sure you’ll be able to repay a Cash Advance loan on your next payday (or even sooner). Otherwise, you’ll incur additional fees and charges.
Finally, while Cash Advances are fast and convenient, the amount you can borrow is dependent on your pay. Remember, these are small-dollar loans designed to get you out of a jam. If you need more money than what’s available with a Cash Advance loan, you may need to consider alternative loan options.
Advance America Cash Advance loans can get you fast funds
Advance America offers online Cash Advance loans that can get you the money you need as soon as possible. You can apply online from the comfort of your own home, and you don’t need good credit to get approved. We’re here to help you overcome any financial curveball life throws your way.
