How No Credit Check Loans Work
Nearly all of us have experienced a situation when available bank funds are insufficient to cover an unexpected expense. A major car repair, medical bill, or broken down appliance can require immediate payment, one that cannot wait until payday. In such situations, people who otherwise are very responsible about paying bills on time find themselves in a quandary.
However, there is good news. An instant approval cash loan – also known as a cash advance – is a fast and easy way to obtain emergency cash when you need it most. The best part about a cash advance loan is that applicants need not worry about their credit score. These short-term loans are available online, and the money can be in your bank account in less than 24 hours.
Who Is Eligible For A No Credit Check Loan?
There are very few requirements for obtaining a no-hassle, no credit loan. These cash advances are written as a short-term contract, meaning that the money is paid back in just a matter of weeks. Your credit score is not affected because no credit check is performed. Lenders are exempt from reporting your application to the credit bureaus because of the extremely short period in which the loan is active.
To qualify for a no credit check loan, you must–
Be at least 18 years of age
Be able to verify your identity and resident status
Show proof that you are employed full-time
Have an active checking account
Having bad credit will not bar you from obtaining an emergency cash loan from a specialty lender. The loan is written and approved because you show the ability to pay the money back when you receive your regular paycheck from work.
How The Application Process Works
PaydayLoansCube.com offers customers one of the fastest and simple online application procedures available. We will ask you to provide information about your identity, employment status, income level, and the dates on which you are paid. Our company has devised a rapid, no fax process that takes the information you provide and sends is via SSL encryption to our team of loan representatives. Your approval may take as little as one hour.
Our company will match your loan request with one of our trusted lending partners. The actual amount of the loan will depend on your income, but our network of lenders is quite large. Most of our customers are quickly paired with a lender that will offer an immediate cash advance.
No Faxing Or Paper Mail Required
Our network of lenders includes cash advance companies experienced in the faxless transfer of information. These companies are connected to a nationwide database that instantly verifies information concerning identity and bank accounts. This means that your application can be processed in a matter of hours, and you do not need to mail or fax any additional documentation in order to receive your loan.
Receiving Your Emergency Cash
Once your loan is approved, you will be asked to provide your electronic signature on the loan agreement. You will have the opportunity to review your loan agreement in detail. The exact repayment date will be clearly shown on the loan contract. You will be responsible for paying back the loan amount plus applicable interest on or before this date.
Your no credit check loan will be deposited into your checking account in just one or two days. You can spend the money as soon as you receive it, taking care of that emergency car repair or hospital bill.
Repayment of Your Loan
Your loan term will usually be somewhere between 10-31 days. The term of the loan is dependent on how often you are paid from your employer. The interest and fees attached to the loan are one-time only, meaning that no additional interest accrues during the loan period. On the date specified in your loan agreement, the lender will withdraw the amount you borrowed, plus the interest amount noted on the agreement, directly from your checking account.
Advantages Of Short-Term Loans
Think about the hassles involved with a traditional loan from a bank. Even a small loan can take days or even weeks to approve. Those needing cash in a hurry cannot afford to wait. A traditional bank loan also involves a credit check, something that many consumers dread.
On the other hand, a no credit check loan is applied for and approved online, meaning you never have to leave your home in order to obtain the cash you need. The interest rate on these loans is sometimes higher than what one would expect for a personal loan from a bank, but you will know the exact amount you must repay at the time the agreement is signed.
Many of our lending partners offer lower interest rates for repeat customers who have repaid on time. Also, military families may qualify for special low rates for these quick, unsecured loans. Depending on the state in which you reside, you may be eligible for an unlimited number of these small loans during a 12-month period.
Contact PaydayLoansCube.com Today!
Our company specializes in matching consumers with trusted lenders experienced in approving faxless, same day cash loans. We know how difficult it can be to pay an emergency bill when your next paycheck is still days away. We can provide you with a no-hassle alternative, and we look forward to serving you.