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Instant Cash Advance Loan: What It Is and How It Works

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Instant Cash Advance Loan

When you are looking for a payday loan, you may see it called an instant cash advance loan. Although this is mostly accurate, you must know that the word ‘instant’ does not mean instant. There is no such thing as an ‘instant’ loan. Potential lenders who lure you with claims of ‘instant cash’ advances, are misleading you. If they use those words, then check the fine print!

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How an Instant Cash Advance Loan Works

Keep in mind that instant does not always mean instant. Any lender or referral service should make it clear that even though the process of applying and reviewing a loan request is very fast… only about 2-5 minutes, the process, if you are approved, takes longer.

Good news is that if approved, you will get a call right away from your prospective lender. If you agree to the terms of the loan they provide, you can have your cash in your bank account within 1 business day in most cases.

What to Consider Before Applying for an Instant Cash Advance

Keep in mind that every state has its own regulations on payday loans and there are states that do not allow payday loans at all. You can find out about your state by going to its website and checking for regulations about payday loans. Every state has some information about the process in that state.

Consider the following before applying for an instant cash advance:

There are also many local, state and even federal assistance programs (many at no cost) that may help you to resolve your bad credit and create a financial plan for your future. There are a lot of free resources online too.

Choosing a Reliable Payday Lender

CashinaSnap has a distinct advantage over many lenders, particularly direct lenders (storefronts). We are a referral service with over 100 lenders who want to lend and have money to lend. The odds of any consumer getting approved are much higher. And, because we are online, there is no driving, filling out a lengthy form, and going to the next storefront trying to get a loan. In just 2-3 minutes, you can complete our online form right from your cell phone and find out if your request is approved in just another minute or so. Now that’s fast!

Although CashinaSnap has a very high approval rate for those requesting an instant cash advance (over 80%), there is no guarantee your request will be approved. If you apply on a holiday or weekend, then your odds are lower as some lenders do not operate at full staff during those times.

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