Cash Advance Loans for Bad Credit
Need to borrow money urgently but have bad credit? CashTodayExpress offers cash advance loans online for bad credit which deems advantageous to those who have either no credit rating or a bad one.
What are Cash Advances for Bad Credit?
Cash advances for bad credit are offered by direct lenders to those who have bad credit histories. These are immediate solutions to the financial needs of individuals who need urgent small amounts of cash, but have poor credit ratings and are being denied funding elsewhere.
Why do Direct Lenders offer Cash Loans to Borrowers with Bad Credit
Unlike traditional lenders who provide funding only to those borrowers with good credit ratings, direct lenders offer funding to borrowers with all kinds of credit ratings including those with bad or no credit histories. The sole reason behind this is that traditional lenders conduct credit checks in order to have a look at their borrower's repayment histories, while direct lenders don't.
The reason behind this is that firstly, credit checks are time consuming thus defeating the purpose of providing funds instantly, which direct lenders claim to do. Also, these lenders instead look at the current repayment ability of the borrower and provide only that much as one can repay depending upon their income.
Can You Get Cash Advances Online on the Same Day for Bad Credit?
Most direct lenders offer loans on the same day, even if you have bad credit. That's because, unlike traditional lenders, the approval processes of direct lenders aren't time consuming. Also, the application process for these loans is simple and time-saving.
With trusted direct lenders like CashTodayExpress who make applications convenient, all you have to do is fill an online form that takes just about 3 minutes and provide the following documents:
- Income statement/ Pay stub
- SSN
- Age proof (18+)
- Checking account details
- Verifiable contact details
Due to the simple requirements, the approval process of direct lenders are very simple and quick which is why they manage to transfer funds almost immediately. These funds shall reach you within 24 hours depending on the policies of your bank.
Are These Cash Advances Unsecured?
Yes. Direct lenders offering cash advances even for bad credit do not require you to offer collateral in order to get funded. They understand that a bad credit holder may not be in the best financial shape and may not have much to offer as collateral in the first place. Even if he/she does have a house or a car to put at stake, it can be stressful to do so. Also, for an amount that's considerably small, one shouldn't have to provide security.