Payday Loan Now Rolls out New Resource

Los Angeles, CA -- (SBWIRE) -- 10/15/2012 -- Payday Loan Now is pleased to announce the unveiling of a new online article containing important information about cash advances. The article, entitled “How It Works,” discusses the loan application process, detailing the simple requirements borrowers must meet in order to qualify for fast financial assistance. Readers of the piece can also gain knowledge about the company’s affiliated lender network and standard loan interest rates and fees, including what factors affect those costs.

“We want to make sure that consumers understand the ins and outs of quick cash loans before they sign on the dotted line,” says company spokesperson Stacy Larson. “Many people shy away from loans of any kind because they believe they won’t qualify. The truth, however, is that cash advances have been created for people who don’t have a perfect credit history or can’t comply with the long list of requirements from lending banks. This is where the simplicity and speed of these loans become a huge advantage.”

Cash advances were created to help people who can’t wait for days or weeks to get access to money. These are emergency loans often used to pay an unexpected bill or cover a car repair or other last-minute expense. Payday Loan Now works with a network of affiliated lenders who offer easily accessible loans that don’t require complicated paperwork or a co-signer.

The entire process of applying for and getting preapproved for a loan through the company can take as little as five minutes, and following preapproval, the prospective borrower is quickly redirected to lenders online. Once a customer formally accepts a loan offer, the money is deposited directly into their bank account, so there is no need to wait additional time for a check to clear.

To qualify for a loan, a person must be at least 18 years of age and be able to show proof of U.S. citizenship or permanent residency. They also must earn a steady monthly income of at least $1,000 after taxes. Additionally, they must have a checking account in their name as well as a valid phone number and email address. There is no credit score requirement for prospective borrowers.

Consumers who wouldn’t normally qualify for a loan because of poor credit history can easily get help from Payday Loan Now’s associated lenders, as these lenders offer loans to people based on their current monthly earnings, not their credit rating. This makes it possible for almost anybody who has steady income to obtain a cash advance. Loans are generally supposed to be paid back on the borrower’s next payday.