McKinney, TX

At Lone Star Cash Services, we know that bad things happen. When they do, we are not always prepared for them. It is at times like these when you need access to fast money. If credit is a bit of an issue, you might think that your only option is to visit a local pawn shop in McKinney but wait. Before you sell your precious property, look into short term loans.

Broke In McKinney and looking for a payday loan.

Cash Advances in McKinney

These are sometimes also referred to as payday loans. They are short term loans designed to get you through an emergency. They provide fast cash with little credit requirements. In most cases, you simply need a job and a checking account to get approved. The best part about these loans is that they fund quickly. You can get your money as soon as the next business day, especially when you apply online. The bad part about these loans is that they have high interest rates. They are, of course, because of their very nature high risk loans. This means that lenders charge high interest rates. Be careful to only take out one of these loans as a last resort and borrow only what you need.

Why Choose Payday Loans?

Payday loans are a powerful tool for those who can not get traditional financing. For many people, they are the only source of emergency loans. This is because payday lenders are far more lax when it comes to credit requirements. Often, all that you need is a source of income and a checking account. Even if your actual credit score is low, you can get approved. Lenders just mainly want to know that you have the ability to pay the money back and that you have never defaulted on one of these loans before. They know that if you had perfect credit, you would probably be putting the emergency expense on your platinum card.

With all the good about payday loans in McKinney, there are also some negatives. The main one is the high effective interest rate. An example of a loan fee might be $15 fore very $100 that you borrow. So, you borrow $200 and pay back $230. Not that bad but if you express this as an interest rate, you get a rate of around 400% on a short two week loan. When you look at it that way, the rate is high. Another negative is the short term. Loans are to be paid back on your next payday. This can give you little time to get caught up which is why many people end up extending their original loan. Be careful.

Installment Loans

Installment loans are very different from a payday loan. You can take out more money and you will have longer to pay it back. If you qualify for such a loan, you will probably find that it fits into your budget easier. Installment or personal loans may be a bit harder to qualify for than a payday loan but you still may be able to get one, even with bad credit.

Why Choose Installment Loans?

An installment loan will give you more time to get your finances in order than a payday loan would. Instead of paying the loan back in one lump sum, you can split the payments over time. This gives you more time to budget for the sudden expense.

You might like an installment loan if you need more time to pay back the loan, have a little better credit and/or you need more than $1000.

Just because you get more time to pay the cash loan off does not necessarily mean that it is the best choice however. Be sure to look at the total cost of your McKinney loan before you agree to is. Your lender should provide you with this information so look at the total cost of the loan. If the cost of the loan is not worth it and you would be better off financially without the money, you should turn it down.


  • Why are the fees high on Cash Advances?
    These are high risk loans so lenders tend to charge more money to make up for the risk. Always review the fine print of a loan before you commit to it.
  • How long will it take to get approved?
    If you apply online, you can get approved in a matter of minutes.
  • When will I get my money?
    If the next day is a business day, you may be able to get your money as soon as the next day. If you apply on a Friday, you may be able to get your money as early as Monday.
  • Do I need to have perfect credit?
    No, you can get approved even with what other realtors would call bad credit. Do not prejudge your ability to get approved.
  • Can I use a savings account?
    No, your lender will require that you use a checking account.
Mckinney area fast money is here.
  • Staff Summary


In this article, we talk about how to get a fast loan and some possible alternatives for you.

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