Online Payday Advance Direct Lenders
Normally companies dealing with payday loans give loans in form of cheque, i.e. liquid money. It is a known fact that payday loans can be equated with quick approval loans. However, the companies providing these loans by the way of cheque might take more time in getting them sanctioned. To lessen this, certain payday loan companies give payday loans in form of hard cash. These companies are called ‘cash advance payday loan companies’. Just like the conventional payday loans, cash advance payday loans are provided online as well. The borrower needs to have the application form online. He can do this through any one of the available websites. The form consists of buttons and some text fields. The lender obtains information about the borrower through text fields. This information includes personal data and employment details. To avail of online cash advance payday loan, the customer should be engaged in permanent employment. Not only that, he should be earning a minimum salary of $1500. This is due to the fact that payday loan’s maximum limit is $1500. Online cash advance payday loan’s maximum duration is 2 weeks or say-15 days. Within this period, the borrower is supposed to repay the loan. The repayment should include interest and service charge. Certain companies dealing with cash advance payday loans have the tendency of deducting the interest and service charges before providing the amount of loan to borrower. For instance- if the customer applies for the loan of $1400, deduction of $150 takes place in the form of interest and $100 in the form of service charges. After these deductions, the borrower is given an amount of $1150. These figures are cited as examples. Actual figures would be available with the specific payday loan company. The industry of payday loan cash advance has been growing day by day. It has boomed like anything in the last ten years. However, the present scenario is such that the economy is sinking, the prices of real estate are soaring, and unemployment is rising. Amidst all these things, the industry dealing with fast foods is flourishing. This shows that the economy of world is thriving on two sectors-the service sector and the sector of eatables. One of the segments of service sector is that of loans. Out of these loans, online payday loans have captured the market. Customers can go for online shopping and find out the loan as per their requirement; that too in utmost privacy and safety of their houses.