Reasons to Consider a Cash Loan
In a perfect world, we would all be fully prepared at all times for any stressful financial situation that might come our way. However, reality being what it is, life doesn’t always quite work out like that, and sometimes even the most prepared among us can be caught off-guard. It’s at times like these that a cash loan can be of enormous assistance.
Cash loans are small, short-term loans designed to help out people who just need a little temporary lift to get through a financial pinch. At APlusCash.com, we specialize in connecting consumers with lenders and financial service providers to provide cash loans ranging from $100 to $1,000. Of course, you might be thinking to yourself, why should I pursue a cash loan instead of another type of loan? Well, there are several reasons why a cash loan can be the best way to solve a financial problem.
The entire process involved in getting a cash loan is exceedingly easy. First of all, there is no mound of paperwork to submit; rather, you only need to fill out a brief loan request requiring some basic personal information. Additionally, you don’t need to submit your credit score — meaning that even individuals with poor or nonexistent credit may qualify for a loan — and you don’t need to provide any collateral. The requirements that you must meet to qualify for a loan are very elementary and include the following:
- Be at least 18 years old
- Be a U.S. citizen or legal resident
- Have a steady income of at least $1,000/month after taxes
- Have a checking account in your name
- Have a valid email address and valid home and work phone numbers
Acquiring a cash loan through APlusCash.com is extremely convenient. You don’t have to parcel out a significant chunk of your day to trudge down to a storefront lending office, as the cash loan process from loan request to approval to acceptance of a lender’s offer is conducted online, and both the disbursal of funds and eventual loan repayment are handled electronically using your bank account information. You can complete the whole process from the comfort of your home or office.
If you have a need for speed in acquiring funds, then a cash loan can be the fast answer. Unlike how it generally is with a traditional bank loan, with a cash loan time isn’t measured in weeks or days but in hours and minutes. It only takes a few minutes to complete our online loan request, and once you submit it, you can be redirected online to a local lender mere minutes after that. Upon locating an offer that you like and formally accepting it, you’ll have your money as soon as the next business day in most cases.
Let a Cash Loan Help You Today
A cash loan can be perfect when you’re faced with a financial situation that requires immediate attention, be it the appearance of an unexpected emergency expense or urgent household bill that must be paid, or perhaps the sudden reappearance of an outstanding debt that you had forgotten about but which now needs to be handled right away. It can allow you to get your hands on some cash easily, conveniently and quickly. If this sounds like something you could use, we can assist you immediately.
APR – Representative Range Explanation
The annualized interest rate that you are charged on a cash loan is known as the APR, which stands for annual percentage rate. APlusCash.com is not a lender and therefore does not disburse loans, but it does refer consumers to lenders who are in the business of providing loans of this type, and it does not charge fees for this service. Because APlusCash.com is not a lender, it is not able to supply you with the exact APR that will be attached to your loan. Keep in mind that APRs can vary according to the information that you provide in your loan request and also the information that your lender gives you.
Your lender will supply you with specifics regarding the APR, finance charges and any other applicable terms when you are redirected to your loan agreement during the process of requesting a loan. If you need help with any APlusCash.com-related services, you may Contact Us.
The APR on a cash loan can range widely, generally being anywhere from 200 percent to 2,290 percent depending on exactly how it is calculated and other variables such as the loan duration, any fees incurred (nonpayment, late fees, etc. ...) and loan renewal actions. You should be mindful of the fact that the APR range is not your finance charge; that will be disclosed by your lender at a later point in the loan request process.Representative Example
YOU CAN BORROW $400 FOR 14 DAYS WITH A $40–$80 LENDER CHARGE. YOUR ESTIMATED APR WILL BE 261% TO 521%*
Relatively speaking, cash loans are costly when compared with other types of loans. It is not recommended that you use them as a long-term financial solution, and you should only take them out in emergency situations.
*Calculation: (lender fee / loan amount) x (amount of days in a year / duration of the loan) x 100
Low-end calculation: ($40 / $400) * (365 days / 14 days) x 100 = 260.71%
High-end calculation: ($80 / $400) * (365 days / 14 days) x 100 = 521.43%
Important Implications to Consider
APlusCash.com only partners with lenders who make it a practice to provide customers with detailed information regarding loan conditions and terms prior to their acceptance of a particular loan offer. You should always closely go over the conditions and terms of any loan offer you receive. For more details about these considerations, look at our Lending Policy and Rates & Fees Web pages.
Should you be approved for a cash loan, your lender will inform you of the fees and interest rate attached to that loan before you go ahead and formally accept their offer. As previously stated, APlusCash.com is not a lender, and therefore it is unable to predict the specific interest and fees that will be connected to the offer. Please be aware that under no circumstances are you obliged to accept any particular loan offer.
When you accept the conditions and terms attached to a loan offer, you are effectively agreeing to pay back the principal and finance charges in the required amount of time specified in the loan agreement. Additional charges could apply should you not be able to repay your loan in full or in the event that you make a payment after its due date. APlusCash.com cannot predict the charges you will incur as a result of nonpayment, partial payment or late payment. Moreover, it has no control over knowledge of the loan details between you and your lender.
Make sure to refer to the nonpayment, partial payment and late payment policies detailed in the loan documents you get from your lender. It is the policy of APlusCash.com to only work with lenders who are reputable and who make it a practice to pursue collections of past-due accounts in manner that is fair and reasonable.
It is the policy of APlusCash.com to not get involved in making credit decisions or ever perform credit inquiries on prospective loan borrowers. However, some of APlusCash.com’s affiliated lenders may opt to conduct a nontraditional credit check for the purpose of determining your eligibility for a cash loan. The lenders generally will not perform a credit inquiry with any of the three major credit bureaus in the United States (Experian, TransUnion and Equifax).
In the end, your credit rating may be impacted by a particular lender’s actions. If you do not pay back your loan by the specified due date, your lender may choose to report this delinquency to one or more of the major credit bureaus, which could negatively affect your rating. APlusCash.com wholeheartedly encourages consumers with credit problems to consult a credit counselor.
Again, APlusCash.com is not a lender, and we also do not ever engage in debt collecting. In their loan documents, your lender will provide information to you about their collection practices. Should you be unsure of the practices that are used by a particular lender, we highly recommend that you directly discuss this issue with the lender. APlusCash.com’s policy is to only work with reputable lenders who make it a practice to pursue collections of past-due accounts in a fair and reasonable manner.
Prior to your acceptance of their loan offer, your lender will present you with loan renewal options. Please be sure to carefully go over their loan renewal policy before you proceed to sign any loan documents. Keep in mind that to a large extent state regulatory laws govern loan renewal policies.
It is intended that cash loans be used solely as a short-term financial instrument. We strongly encourage all borrowers to repay their loan in full and by the specified due date in order to avoid fees stemming from nonpayment and/or late payment. If you believe that you may potentially have difficulty paying off a cash loan after taking it out, we recommend that you explore various loan alternatives before submitting a loan request through our website.