Cash Loan FAQ

What is a Cash Loan?


A cash loan is a small loan that is provided to consumers in
times of financial need. They are typically much smaller than bank loans and
easier to be approved for. You must meet the outlined specifications for a cash
loan and provide the necessary documentation.


What are the requirements to obtain a cash loan?


Each person who applies for a cash loan must be at least 18
years of age. Additionally, they must have a job where they earn at least
$1,000 and have an active checking account.


How much can I borrow?


Payday Advance will provide cash loans of up to $1,000.
However, the actual amount you can borrow is dependent on your actual income.
You can borrow from 30 to 50 percent of your total net income, as long as all
other requirements are met when applying for the loan.


When do cash loans have to be repaid?


When you apply for your cash loan with Payday Advance your
due date for the loan will be determined by the amount you are borrowing and
how often you receive a pay check.


What happens if you cannot repay the loan on time?


If you cannot repay the loan by the determine time period,
then penalties and interest will be applied to the loan. These will continue to
accumulate until the loan is paid in full. This can be quite a high interest
rate therefore you should ensure you can repay the loan in a timely manner.