subject: Cash Loans- Helps Meet Your Credit Need [print this page] Many of the problems caused in the world are due to the absence of money. Money has become a necessity. People who do not have adequate financial resources to meet their wants can rely on Cash Loans. These advances help the borrower to gain finances as and when he wishes.
Cash loans are these advances that help you in satisfying your day-to-day needs. These finances are short term and it allows the borrower smaller amounts. There are no restrictions on the usage of cash loans. It can be used for several reasons such as; to pay off emergency expenses like telephone bills, car bills, medical bills, to consolidate debts, wedding expenses and so on.
Cash loans are approved by the lender. He must be convinced of the borrowers repayment ability and financial standing. The borrower must be able to repay the advance lent to him on the due date. They are approved within a very short period and the cash amount is generally transferred to the borrowers active bank account within 24 hours of approval. The money that you can avail of through this loan ranges from 80 - 1500. The term for repayment varies from 1 to 30 days. As they are short term credits, the rate of interest charged is slightly high. The lender is at a risk while lending such advances, as if the borrower defaults he cannot recover the money from him.
To be eligible to apply for cash loans the borrower must meet the following conditions;
1.He should be working full time at a well recognized company.
2.His monthly salary must be above 1000 per month.
3.He must be 18 years and above and have an ID proof.
4.He should have a bank account which has been active for a couple of weeks.
by: Adam Thomes
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