Financial emergencies can occur after you pay monthly bills, leaving you with limited funds for essentials until the next payday. When you need money, a cash loan can fill in the gap. This short-term lending option is easier to apply for than you may think. Here is a helpful guide on how the process works and how you can secure this cash advance.

What Is a Cash Loan?

This loan type is typically available in various amounts up to $500. Also known as a payday loan, it provides funds to the borrower with an agreement to pay off the balance by their next payday. 

If approved, the funds are usually direct deposited into the borrower’s checking account. Depending on the lender, you may be given cash the same day. If the loan is not paid off by the agreed-upon date, the borrower may pay a late fee or other penalties. 

How Do You Get a Cash Loan?

The first step typically involves completing a cash loan application either in person or on the lender’s website. On the form, you may be asked to provide your current address and mortgage or rental payment as well as employment details. To complete the request, applicants will also need to provide personal identification such as a driver’s license, current pay stubs to verify employment or income, a personal check, and a recent bank account statement.

While some lenders may pull your credit report, poor credit history does not necessarily decrease your approval chances. Once the application is completed and documentation is submitted, the lender will conduct a review. If approved, the funds will either be given to you as cash, a check, or direct bank deposit. 

If you’ve experienced a financial emergency and need extra funds before your next paycheck, a cash loan can offer relief. Advance U Cash in Florence, KY, has a fast and convenient application process. Stop by the office today, or complete the secure, confidential paperwork online. If you have questions about the process, call (859) 746-2274 to speak to a friendly representative.