When someone is in a tough financial situation, they may consider applying for a personal loan to cover emergency expenses. Short-term, installment and personal loans can give borrowers the money they need to pay bills and avoid the consequences of late payments and bounced checks. Blue Trust Loans can help a borrower get the funding they need when they need it. Consider the following benefits of a cash advance or personal loan.
Easy Application and Qualification
Getting a cash advance or payday loan is very easy because the only eligibility criteria are sufficient income and a lack of prior defaults. Lenders’ standards may vary; consult a Blue Trust representative for the most up-to-date requirements.
Security of Information
When a person applies for a cash loan, their banking and personal info are secure because the lender isn’t allowed to give it to other companies. Therefore, there aren’t as many worries about identity theft and other problems.
It only takes a few minutes to fill out the application for a cash advance, and in most cases, the money is deposited into the borrower’s checking account the next business day. This makes cash advances an ideal way to cover short-term financial needs.
A payday loan is a short-term loan, which means they’re paid back when the borrower receives his or her next paycheck. The borrower’s income limits how much they can borrow, which makes it easier to repay loans and break the debt cycle. The money can be used for any purpose the customer wishes.
A payday lender is typically open outside of normal banking hours, which allows borrowers to obtain emergency funding when they need it most. Lenders like Blue Trust have websites that make it easy to apply for a loan anywhere, anytime.
If a borrower wants to avoid bounced check and late payment fees that can affect their credit rating, they should apply for a cash advance or personal loan. Lenders can provide cash advances to help borrowers deal with short-term financial shortfalls, and borrowers should keep the above benefits in mind when applying for assistance from a payday lender.