When an emergency happens, sometimes your finances are not ready to deal with it. If you are in this situation, you may be considering a payday loan or cash advance in Carrollton. These short term loans can get you the money that you need to get through your emergency and get on with your life. Before you begin, you should take a minute and familiarize yourself with the different loan types available to you. When you are finished or if you are already familiar, fill out our short loan quote form.
A payday loan is a short term loan designed to, as the name implies, get you by until your next payday. They are typically low dollar loans of around $500 or less and should be paid back within two weeks. The great thing about thee loans is that they are easy to qualify for and they fund quickly. The downside is that they have high fees based on the amount that you borrow. There is normally a set fee per $100, for example, $20 per $100. The fees can add up quickly so you should take them into consideration before you commit to a loan. If you have no other source of financing or if the fees are less than other charges you would face, they may be a good option for you.
To qualify for a payday loan, you will need just a few things. You will need a checking account, a job, a good phone number and a social security number. Credit is normally not a problem and these loans are available to those with poor or bad credit.
An installment loan is a higher dollar loan that is paid back over a longer time period. Most of these loans will be for dollar amounts greater than $1000. They will have payments required either monthly or biweekly. The good thing about these loans is that they give you more time to pay them off. The negative is that they are harder to qualify for.
To qualify for an installment loan in Carrollton. you will need all of the same things as you would for a cash advance payday loan. You will also need to have better credit since the lender will be risking more money.
Commonly Asked Loan Questions
- My credit is not good, is that an issue?
No, if you are looking for a cash advance, it should not be a problem as long as you have not defaulted on a payday loan in the past.
- How long will it take to get money deposited?
Most of the time, funds will be deposited into your account on the next business day.
- Why do I need a checking account?
Your lender will deposit your funds directly into your account and will withdraw the repayment from it as well.
- Do you issue the loans?
When you apply online, you will be working with our trusted online partner. It allows you to receive your money in the shortest amount of time.