A payday loan provides access to quick cash when you need it most. While timely financial assistance like this can be invaluable, it’s still important for applicants to proceed with caution. That’s why Advance U Cash of Florence, KY, recommends the following advice if you’re in search of a cash loan to cover an unexpected expense.

Do:

Consider how you’ll pay it back.

While a payday loan will help you overcome a financial hurdle, how will you satisfy the terms of the loan when repayment is due? Your budget will need to accommodate a one-time payment, and if you are unable to abide by this term, you may incur other fees. When thinking of how much your loan should be, keep repayment in mind to be sure you can live up to your obligations.

Understand the terms.

Some lenders tack on hidden fees or include provisions that penalize early repayment. That’s why going over the details of your loan is so beneficial. If you truly understand the terms, you can ensure you’re being treated fairly. 

Don’t:

Borrow money from friends.

Mixing business with pleasure is usually a recipe for disaster. Borrowing money from friends falls into this category, even though it may seem like the most stress-free offer. While a professional lender may be willing to work with you if you struggle with repaying the loan, friends are bound to be far less forgiving.

Provide incorrect information.

You want to make sure that your application only contains up-to-date information. False or erroneous information can impede the approval process, which will delay how quickly you can access the loan. Fortunately, the process to apply for a quick loan is extremely easy. All that’s required of you is government-issued ID, verification of income, and a bank statement detailing the last 30 days of activity.

Getting your finances back on track can be as simple as making a phone call. The team at Advance U Cash can help you understand payday loan terms, so you can access affordable funding for emergency expenses. Speak with a loan agent in Florence, KY, today by calling (859) 746-2274. If you would like to read a list of frequently asked loan questions, feel free to visit the website.