Guaranteed Approval Payday Loan - Cash Within 24 Hours!
If you need to borrow a quick cash advance, a guaranteed approval payday loan can be of aid to you. As the name suggests, such a paycheck advance is approved for everyone, no matter what their past credit history is, as long as they meet the basic approval criteria.
What Is The Approval Criteria?
Paycheck lending industry is governed by the State laws. As such, guaranteed payday loan companies in different states of America can have different approval requirements. But some basic requirements remain the same, regardless of where you take the loan.
- You must be an American citizen.
- You must have crossed the age of 18.
- You must be in a regular job for the last 3 months at least.
- Your monthly income should be at least $1000.
- You must have an active checking account in a bank.
Apart from these, some companies require that you must have been in employment of the same firm for the last 90 days. Some other companies say that your bank account should have been active for the past 3 months. And then of course there are the State restrictions, on the number of paycheck cash advances that can be taken simultaneously, from different lenders.
The Lending Process
The approval process for a no fax cash advance is so fast that you have the money in your bank account within 24 hours of applying! The online application form takes hardly 15 minutes to fill up. And since there are no documents to fax, for verification of the details provided, you get approved for the amount almost within the hour. The money is then transferred electronically into your bank account overnight, and you can use your instant cash loans the very next day!
No Security Required
You don’t need to place any collateral against a personal unsecured guaranteed payday loan, even if you have bad credit. And this is one of the main benefits of this kind of borrowing. Normally, none of the traditional lending institutions are willing to give an unsecured loan to people who do not have a perfect credit score!
But all these privileges do not come for free! For every $200 you borrow against your paycheck, you have to pay an additional $30-$60 as interest, and that too just for 2 weeks! This fact alone makes it absolutely necessary that a guaranteed approval payday loan should be taken only if really essential, and for the smallest amount of money required and for the shortest time required!
Guaranteed approval payday loan is available as a no fax guaranteed payday loan or a personal unsecured guaranteed payday loan. Any guaranteed payday loan is generally instantly approved for everyone, regardless of their credit status.
