Frequently Asked Questions - FAQ
If you have any more questions about obtaining a cash advance loan, please click on any of the questions below for instant answers.
- What is a cash advance loan?
- Is there an application fee for using Cash Advance Alliance?
- How do I qualify?
- How long does the process take?
- If I have bounced checks, bad credit or charge-offs, can get a cash advance?
- Do I need any collateral for the cash advance?
- How is the amount I can borrow determined?
- When does the loan need to be paid back?
- How often can I use cash advance services?
1. What is a cash advance loan?
Cash advance loans provide people with unsecure, short-term loans if they are short of cash between paydays. Customers typically need cash advance loans because of unexpected expenses such as car repairs or medical bills. A cash advance loan may be a good option over bouncing checks or having to pay late fees. You can have the funds electronically deposited into your checking or savings account and work out a repayment plan with the lender.
2. Is there an application fee for using Cash Advance Alliance?
No. There is no application fee by submitting your request or obligation to use a lender through Cash Advance Alliance.
3. How do I qualify?
Qualifying for a cash advance loan is easier than qualifying for a traditional loan from a bank or credit card company. Rather than having a credit check or any personal property for collateral, you pay check from your job is collateral. You just need to meet these minimal requirements:
- 18 years of age or older
- US citizen with a checking account
- Have a job or regular income
- Make at least $1,000 a month
- Not active in the military
- Other requirements may apply, depending on the lender.
Residents of Arkansas, Georgia, New York, Oregon, Washington, West Virginia and Vermont are not eligible to apply.
4. How long does the process take?
After applying, customers will usually be contacted right away and a lender will work with you to get you a loan approval. With your funds being directly wired to your checking or savings account, you will typically have access to the money either the same day or overnight after speaking to a loan provider.
5. If I have bounced checks, bad credit or charge-offs, can I still get a cash advance?
Yes! Many of our customers have experienced some credit problems. You will not be prevented from getting a cash advance loan even if you have filed for bankruptcy, have bounced checks or other credit problems.
6. Do I need any collateral for the cash advance?
The only collateral you need is your pay check and your job. Other than that - no, you don't need any collateral.
7. How is the amount I can borrow determined?
The amount you can borrow is based on your current income and other qualifying questions asked by the lender.
8. When does the loan need to be paid back?
Cash advance loans are intended to help you when you are short of cash between pay checks and the amount of time that you have to pay back the loan depends on the lender. Typically this is no less than 7 days and no more than 18 days. Make sure you talk to your lender about the repayment plan and their terms when you sign up.
9. How often can I use cash advance services?
You can use advance cash services whenever there is an immediate need for cash, however, it is important to remember that this is only for short-term and occasional use. If you find yourself feeling the need to use this service often, have on-going budget problems, or other serious financial difficulties, you may want to seek help in other area. If you need help with credit, budgeting or debt management, please contact a reputable debt management assistance program such as National Foundation for Credit Counseling at 1-800-388-2227.