A bird in the hand is worth two in the bush, they say, and a dollar in the hand now is worth two later – if you need it now. Quick cash loans are one of the best ways to get cash in hand now when you need it to get you through a tough time in your life.
It’s easy to say it’s best to stay out of debt, but sometimes, when you feel like you’re in a financial vice grip, a timely loan that you can afford to repay and that avoids undesirable financial and life events in the meantime, is more than welcome.
What Are Quick Cash Loans?
The very name quick cash loans gives you the general idea, but what more precisely speaking defines a loan as a “quick cash” one? Here are some basic features that set this type of financing apart:
- It takes very little time to apply for the loan. You access the forms online and are done in literally just a few minutes.
- Approval comes instantaneously or within a few seconds, and almost everyone is always approved.
- Credit scores have little to nothing to do with loan approval, and few lenders bother to run a hard credit check, if any credit check at all.
- Most fast cash loans involve no collateral. Proving your income is sufficient to repay the loan “is” your collateral.
- The cash is delivered direct to your US checking account within one or two business days.
- You can use the cash immediately upon receipt in any way you like. You control it and no one asks you what you did with it.
- Payments are made automatically via direct withdrawal from your bank account in the vast majority of cases.
What Type Of Quick Cash Loan Should I Get?
There are two major types of quick cash loan available on the market today: payday and personal loan. The major factors that go into deciding which of these two options to opt for are three:
- How much do you need to borrow? Payday loans are generally only good for loans under $1,000, and usually, under $500. Personal loans can have principals as high as $5,000 or more.
- How quickly can you afford to repay? If you only need a small amount and/or can repay within a month in a single payment, go for a payday loan – otherwise, a personal installment loan is best.
- How do the terms compare? In borderline cases as to the first two factors mentioned above, you might “break the tie” based on APR, fees, and other loan terms.
Note that title loans are a possibility as well, if you own your car title free and clear and don’t mind risking your vehicle. The same can be said of home equity loans if you want to risk the equity in your home. But for no-collateral fast cash loans that are easy to get approved for and don’t involve you in unnecessary risks, payday loans and personal loans are the main types to consider.
Locating Your Best Source Of Fast Cash
It can be frustrating to know that there must be a good quick cash loan offer out there somewhere but feel you are unable to find it. You might even have found a seemingly decent offer but be unsure if it is truly your best offer. What can you do to solve this dilemma?
Bonsai Finance exists to empower you, the loan searcher and prospective borrower, with the ability to always and only take out the very best loan offer available to you. Our search engines leave no stone unturned and let you choose the kind of quick cash loans you prefer, feature by feature. We quick-scan the Web for your very best loan offer!