Emergencies happen. There is nothing you can do to avoid them. Even people who plan their finances carefully and have a “tough time” fund can find themselves in a financial crisis. In some cases, a family member or friend can help with a cash gift or a small loan, but most people do not have this option.

On a recent day, a client named “Meg” needed an emergency loan because her air conditioner stopped working when temperatures soared to 98 degrees in Phoenix, Arizona. With three young children and an elderly father in the home, he had no choice but to install a new air conditioning unit.

Cash advance loans, also known as payday cash loans, are small, short-term loans that consumers can use to manage emergencies or daily expenses. Most Americans, with active employment and a stable source of income, can obtain a loan. The amount of cash a customer can borrow depends on how much the applicant earns per month. Lenders offer loans from $ 100 to $ 1,000.

The popularity of cash advance loans has grown in recent years as more Americans struggle to meet their financial obligations amid a struggling economy. White-collar and blue-collar workers alike are using short-term loans to manage unexpected expenses. The fact is, even cash-strapped homeowners with home equity can’t easily get a home equity loan or home equity line of credit (HELOC). Also, the loan application process is extremely time consuming and arduous.

Can I get a loan if I am not employed?

No. Popular to the contrary belief, unemployment loans do not exist. The only way a lender operates as a business is to make sure its clients can pay back their loans. A person without a stable source of income cannot repay a loan. Consumers should take extra precautions when considering lenders purchasing “cash advance loans for unemployment.”

How can I get a $ 1,000 loan?

A quick search for cash advance lenders will yield a wealth of resources, but not all lenders are created equal. Some lenders specialize in small loans and only approve loans of up to $ 250, which are repayable in fourteen (14) days or less.

Lenders, offering larger short-term loans, are more flexible in setting your repayment period, if you meet the loan qualification requirements. The typical loan amount ranges from $ 500 to $ 1,000. Consumers applying for these loans must be able to show that they are earning enough to pay off their loan, after all other deductions from their paychecks have been taken out. Deductions can include health insurance, retirement, child support, spousal support, wage garnishments, etc. The loan repayment period varies from fourteen (14) days to thirty (30) days.

The loan application process is quite simple and convenient. Most lenders allow consumers to complete a short and secure online application that takes one to two minutes. The application form includes standard inquiries, such as your contact information, so that the lender can verify your loan application. Other important information includes your employment status, biweekly or monthly earnings increase, and the dates of your next paychecks. Most applicants, who fill out the loan application form accurately, are generally approved instantly and can get a loan within hours.

What if I have bad credit? Can I get a $ 1,000 loan?

Yes. Fortunately, your ability to qualify for a cash advance loan is based solely on your ability to repay the loan – in other words, your employment status and income. Whether you have bad credit, no credit, a history of foreclosure, or bankruptcy, you can still get a loan.

Can I get a loan without a bank account?

The simple answer is no. “Online cash lenders require a checking or savings account so that the cash can be transferred to your account immediately. If you don’t have a bank account, check with your neighborhood cash store. You might have an alternative payment option.Having a bank account means you can get the cash you need in a few hours.