Times are hard, and even for people who work full-time, it’s not uncommon for the state of their finances at the end of the month to be reduced to nothing. However, nobody is immune from a car repair that needs to be made immediately, unexpected medical expenses, or a large energy bill to be paid. In case of emergency, applying for a fast cash advance is the ideal solution, because it lets you get an immediate answer and a quick bank deposit, even with bad credit.
A loan tailored to emergencies
When you find yourself short on cash while you need to deal with an urgent or unforeseen expense, bounced cheques, or late penalties and you also have a bad credit rating, it’s pointless to turn to banking institutions to try to obtain a loan: on one hand, because their response and deposit times are often too long when you find yourself in a real emergency situation, and on the other hand, because no bank grants a loan to anyone with a bad credit history. The only feasible option when confronted with such a financial situation is a fast cash loan—in other words, a short-term loan with no credit check that can take the form of a payday loan, a payday advance, or a cash advance.
An immediate answer
You just need to fill out an online questionnaire and scan and upload or fax the few documents requested by the institution to make up the loan application. If the borrower meets the criteria and submits a complete file, the answer won’t take long. It’s also not uncommon for finance companies to process the documents and give their approval within an hour, or even thirty minutes.
However, certain specific situations require a longer processing time: this is often the case for self-employed workers, disability insurance plan beneficiaries, CSST program beneficiaries, people on maternity or parental leave, or pension plan beneficiaries. Generally speaking, though, the delay isn’t longer than a few hours, and most responses are communicated within the day, or 24 hours after sending the complete file.
A quick deposit
Once the loan application has been approved, a contract is then sent to the borrower, who must return it signed as soon as possible so that the funds can be deposited into their account immediately.
If the contract is sent early enough in the morning (usually before 11 o’clock), the money is deposited into the bank account on the same day. If it is received after 11 o’clock, the funds are usually deposited within the following twenty-four hours.
With certain companies, it’s sometimes even possible to receive your cash within 30 minutes if you go to their place of business in person.
With a response time of as little as 30 minutes and a deposit of funds possible within the day, the fast cash advance remains the suitable solution in case of an urgent need for money, and it lets you avoid bounced cheques, service cut-offs, late payments, or penalties. Of course, because its interest rate is high, its use should be exclusively reserved for situations that can’t wait.