If you run into a financial emergency and are short on money until your next payday, then getting a short term loan may be the most solution. Some emergencies will cost much more if you wait until your next payday to take care of them. For instance, a leak in the roof of your home will cause thousands of dollars in damage if you have to wait a week until your next payday to fix it. Short term Loans can get you the money to make that repair today.
Some of the benefits of short term loans secured through the Canada Cash Advance network include:
Short term loan providers in the Canada Cash Advance network will not check your credit.
Payday loan providers will never check your credit. If you have bad credit, it will not affect your chances of getting a payday loan. Your most recent paycheck stub is your credit. As long as you have been employed at least 90 days, earn at least $1,000 a month and have an active checking account and working phone number, you will qualify for a payday loan.
Banks will not only check your credit, but will also ask you to provide extensive documentation to verify your income. Usually you must provide your tax forms for the last several years to qualify for a bank loan.
Payday loans range from $100 to $1,500. The amount of money a payday loan provider will lend you is determined by your last paycheck. Since most payday loans are repaid on your next payday, most lenders will not loan you more than you can reasonably repay on your next payday.
You can get short term loans faster than bank loans.
It takes about an hour to secure a payday loan through the Canada Cash Advance network, whereas a loan secured through your bank can take days or even weeks. Time is money in an emergency. You may not have a few days to wait for approval on a bank loan. Maybe your water pipe just burst and water is pouring into your living room. You need to get it fixed right now. You can get a payday loan through the Canada Cash Advance network within minutes.
Payday loan providers will even electronically transfer the funds directly into your checking account. You don’t even have to leave your house. You can call the repair people and have the repair bill charged to your debit card.
Your application for short term loans through the Canada Cash Advance network is kept private.
No one needs to know you have are having financial difficulty, that is your private business. Payday loan providers in the Canada Cash Advance network will never contact your friends, family, employer, bank or anyone else to discuss your financial situation. No references are required to get a payday loan through the Canada Cash Advance network.
Repayment for your short term loan is automatic.
You don’t have to worry about when your payday loan is due. On your loan’s due date, which is usually your next payday, your lender provider will automatically debit your checking account for either the full amount of the loan, or your installment payment, depending on whichever you agreed to when you signed your loan contract.
If you think you might not be able to repay your payday loan on the due date, just contact your payday loan provider ahead of time and request an extension. Most payday loan providers in the Canada Cash Advance network will provide you an extension until your next payday, as long as you pay at least the interest that has accrued on your loan.
