Fast cash loans are an option used by people who find it difficult to live within their income, between two paydays. They are a way to receive urgently required cash, with a promise of repayment within thirty days. These loans come with minimum documentation and are easily approved. There are some fast cash loans that are guaranteed approval.
Some companies also offer "faxless" loans, which means that there is hardly any documentation required. After the loan is approved, the loan amount is deposited directly into the borrower's bank account. The lending company also accepts the repayment electronically, on the day of loan maturity. The repayment amount includes the amount loaned, interest charged on it and service fees levied by the company. If the borrowers wish to extend the payment date, there are companies who provide that option.
Guaranteed fast cash loans can be applied for online as well as over the phone. The application process is easy, with no complications. In order to have fast cash loans guaranteed borrowers have to be employed and have a steady source of income. Many fast cash lending companies require the borrowers to be working at the same place for at least three months. There are some companies that do not insist on such criteria. In both the cases, however, it is usually necessary to provide a proof of income. Borrowers are also required to supply an identity proof, along with the status of employment.
Fast cash loans are usually approved for an amount between fifty and five hundred dollars. However, since there are so many companies competing, some companies have increased the loan amount offered, to one thousand dollars. Even the amount of fifteen hundred dollars can be availed of on the Internet, as a part of a fast cash loan offer.