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Cash loans online
16 Dec 2016

Cash loans online for bad credit

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Many who have badly damaged credit (or who lack a significant credit history) wrongly assume that they cannot get a fast-cash loan when they find themselves in a difficult situation.

While a bank loan may not be obtainable and you may not even have or qualify for a credit card, none of this need prevent you from getting a loan. There are many cash loans online available for people with bad credit, primarily of two types: payday loans and installment loans.

Payday Cash Loans Online for Bad Credit

Payday loans, even when secured online, will still involve a credit check. But lenders will generally base approval on your ability to repay (income level) and on your having a U.S. bank account rather than on your credit history.

Lenders of payday loans typically only allow loan amounts of around $100 to $1,000 and require repayment within two weeks or month at most. The loan will have a high interest rate and may require some form of collateral.

The benefits of online payday loans are you can get the cash within only a couple hours, can use the money any way you please with no questions asked, and do not need good credit. The drawbacks are the heavy penalties for late repayment, the high interest rates, the limited amount of cash that can be borrowed, and the limited amount of time for repayment.

Installment Cash Loans Online for Bad Credit

Personal loans, which are also usually installment loans, are also commonly available online for those with bad or no credit. These loans have a number of benefits that make them superior to payday loans in most situations.

The borrowed cash can be deposited in your bank account within 24 hours in most cases (or the next business day), while a bank loan could take several business days to complete.

Personal installment loans do not require collateral. The online request form will only require basic personal information and bank account information. And many online loan brokers can find you the best lender that fits your situation.

A quick credit check will be run, but you will likely qualify, though bad credit may affect the loan terms. Instant approval is the rule. There is no need to wait for hours or days to get an answer.

Installment loans can be secured for up to $5,000 in most cases, and you can pay back the loan in regular installments over a few months or a few years.

Solving Short-term Issues

When financial obligations arise, those that require you to have cash on hand, a cash loan online can help. This loan option aims to bring security to your finances as quickly as possible. Small, unexpected changes to the planned budget often leave items unpaid. Unpaid or late bills can incur extra interest, late fees, and negative reports to the credit bureaus. An unplanned visit to the doctor, kid’s school supplies, or a sick pet can all result in a need for quick cash. There is no reason to fall short. A short request form and efficient processing allows for the cash you need without the wait. Some situations are resolved best with some quick cash. This allows for the money to be used for different purposes and at the borrower’s discretion.

Cash Loans Online

Traditionally, cash loans have required an in-person visit to a loan company. The process has now been refined to allow for easy online request. The complications of taking out a short-term loan often outweighed the benefits in the past. There is no reason now, however, to avoid requesting a loan. Our holistic approach to finding the perfect loan situation takes the guesswork out of the procedure. Only one request is necessary to receive information on several options for cash loans online.

The Online Option

The availability of online requests and approval make modern day loans extremely convenient. The in-person search for adequate funding often delays acceptance and deposit of funds. Loan consultants can quickly view an online request and call the customer if more information is necessary. Online requests sometimes require a physical visit to the office to complete the transaction. This still minimizes the headache, allowing for the review of multiple service providers from one’s computer or tablet.

Online payday loan possibilities especially benefit customers with strict work schedules, handicaps, and limited transportation. An online request takes a few minutes and saves hours of time. Bonsai Financial furthers this perk by consolidating a list of possible lenders. This limits the amount of online requests that must be completed, as well.


Payment on the loan is due rather quickly. This aspect is part of what makes cash loans online attractive to customers. Many people avoid loans, as they consider it taking on another large debt. Small, short-term loans alleviate that stress. There is an option to extend when needed, however. Think through your spending habits and income prior to choosing this type of loan. Extensions add interest, expanding the amount due. This is the loan for you, however, if you plan to be financially organized by your next paycheck.


The availability of cash loans online makes the process hassle free. If time is running out on getting your bills paid, this is the quickest option. In most cases, cash is available within 24 hours. The bills can’t wait, and neither should you. Fill out an easy online request from any computer or device. Basic personal information and proof of income are all you need to get the process underway. Gone are the days of running around to several loan offices hoping to be approved. You can find out your status almost instantly online.

Qualities to Look for

There are often differences in loan companies and contracts. There a few important aspects to take into consideration before committing to a contract. The interest rate should be shared with you upfront. Otherwise, surprise fees exceed the amount borrowed. Interest rates are high on cash loans. This is the fee for offering fast and convenient service. Check with a few different companies to make sure you are getting a competitive rate.

Alternative payment options are not usually a big selling point of short-term loans. The cash is expected to be returned fairly quickly with little flexibility. It is a good idea, however, to prepare for possible complications. If you are concerned about the repayment, inquire about loan roll-over options. This possibility extends your loan, however, it also raises your interest rate. Plan ahead to avoid extra fees.

A loan consultant should offer information without pressuring you to commit. Once you are talking to a representative, pay attention to their customer service skills. If they seem desperate to complete the contract right away, move on to another company. A confident company in good standing does not need to pressure potential customers. Quality service speaks for itself.

Cash loans online are a great option for those needing to pay unexpected bills. When you are on a strict budget, it doesn’t take much to go over your spending limit.  An increase in the electric bill, an increase in gas prices, or a home repair can complicate your financial plans. The best option for these small complications is a short-term loan. Cash loans come with a certain amount of responsibility. Payments must be made on time to avoid further fees or negative marks on your credit. Communication with your lender can help to keep you on track, even in more difficulties evolve. Start the process to approval by submitting your information to Bonsai Financial today. There are more options available than you can imagine.


Those with bad credit can still find many cash loans online that will allow them to get fast cash in an emergency. Payday loans and installment loans are the most common fast-cash loans for bad credit.