Cash advance loans are a blessing in lean times. Imagine that it is the 21st day of the month and you want to get your car's nagging problem fixed. You just received a reminder for your electricity bill. Your kid wants to buy a book for her science project. Your friend has invited you to his marriage next week. The only problem is that you spent money renovating your home and are running short of cash. Your payday is not due for the next two weeks, but you want to give your friend a decent gift. This is the predicament of any family during the middle of the month. Payday loan is your savior in this moment of need.
What Is A payday loan cash advance?
A payday loan cash advance is a cash advance taken from a lender to meet the unexpected, unplanned financial need/emergency. You repay the amount within two to four weeks; the amount is deducted from your account on your next payday. Payday loans can range from $100 to $1,500 (depending on the lender's policy), for which you pay an average fee of 15 to 30 percent. If you take a fast cash advance of $100, you repay $130.
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