How Cash Advances Work

The process of applying for a cash advance or payday loan is really fast and easy. To clear up any confusion on the process, the general steps are outlined below. However, it is important to note that every cash advance lender handles the cash advance application process differently, so the steps given below may change.

1. Choose a cash advance lender. Often rushed through, this is actually the most important part of the cash advance process. There are several cash advance lenders, so it is important that you review the terms, conditions, and fees for each, and choose one who you feel the most comfortable with.
2. Complete the application. Filling out a cash advance loan form online usually takes no more than a few minutes, during which you will be asked for various personal information, including how much you would like to borrow and when your next payday is. Once the form is submitted, some lenders require that you fax them a blank check, your most recent bank statement, and your latest pay stub.
3. Get your money. Once you are approved, which can take anywhere from a few minutes to a day, the loan funds are usually wired directly into your account making them available for immediate use.
4. Pay back the loan. On the day specified on the application, you will be required to pay back the loan. This can be accomplished in a variety of ways depending on the options provided by your lender. If you want to apply for another cash advance or would like to extend your current cash advance loan (often referred to as "rolling over" the loan), you will need to contact your cash advance lender for instructions on doing this.

That's all there is to it! Once you are approved for your cash advance, your cash should soon be available and in your account.