subject: Emergency Cash Loans: Where To Get Them [print this page] If you are in need of an emergency cash advance, where you look for help may depend on several factors. How much cash do you need? Will you require lengthy repayment terms? Do you have any collateral to back up your request for funds? These same factors will also affect the amount of money that you will be required to repay.
A major consideration in getting emergency funds is whether it is a grant or a loan. Some public agencies and other organizations will provide emergency subsistence funds for expenses such as food, rent, utilities and transportation expenses. These funds are usually grants with no expectation of repayment.
Assistance grants may be specific to a certain need. Usually the applicant must provide documentation of need, including income and expenses. It usually doesn't take long for the approval process to be completed.
If you need emergency funds through a loan process, you will be approaching an entirely different organization. There are at least two ways to obtain loan funds on short notice. You can borrow money on your credit card. This assumes that you have unused amounts before reaching the credit limit on the card. The cost for this practice will depend upon the terms of the card. Some card issuers charge fees for cash advances and interest charges may begin immediately.
You can obtain emergency monies by applying for a payday loan. These are usually approved with little difficulty. The money may be available within hours, often by electronic deposit to your bank account. This type of loan is very short term and usually has a very high cost.
If you need an emergency cash advance, ideally it will come from your own emergency fund savings account. If that is not an option for you, look for a loan with the best repayment terms. You should borrow only the amount that you absolutely must have to get you through the emergency situation.
Emergency Cash Loans: Where To Get Them
By: George
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