One financial emergency regardless of how small it is can leave you hopeless. But no matter how tough the issue can be, there are many options that can help regain your financial health. But first, you need to get detailed information concerning payday advance loans, how these loans work and how the loans can help with your financial situation.
Payday advance loans are also referred to as payday loans. The loans allow consumers to borrow small amounts of cash that can be used for emergency expenses like healthcare, car repairs among others. Unlike installment loans, payday loans have a short repayment term, usually a couple of weeks. Most lenders require borrowers to repay the loan on their next paycheck.
Some lenders advertise payday advance loans as ‘no hard credit check loans’. This means that the lender will only perform a soft credit check that will not harm your credit score. A hard credit check can drastically reduce your score, and especially when it is done several times within a short time.
We do not perform hard credit checks when issuing payday advance loans, instead, we only perform a soft credit check that will not affect your credit score. This makes it easier for people with bad credit scores to secure loans that can cater to their financial emergencies. Besides, you will also benefit from a completely online experience, which means that you won’t have to travel to a physical location to secure a payday advance loan.
You can submit your loan application from any location. The loans are therefore a good option for people who have a tight schedule and may not have time to travel when they need funding.
Some payday advance loans require borrowers to travel to the lender’s location, complete the loan application and wait for weeks to receive the funds when approved. Some lenders also require borrowers to provide proof of income in the form of a paycheck stub or bank statement.
Applying for payday loans means getting the funds you need fast. Of course, there are some requirements for the loan, and you also have to pay interest. However, payday advance loans have minimal requirements and the interest rate is also less compared to late fees on credit cards, utilities, and other bills.
Oak Park Financial offers alternatives to payday advance loans. Also, you don’t have to apply for the funds from a physical location. When you are ready to borrow money from us, it is quite simple: fill our easy application process from your smartphone, or PC and get an instant decision.
Once approved, the funds are wired directly to your bank account on the same or next business day. Whether you receive the funds on the same or next business day will also depend on your bank.