Cash loans fast is for those times when the unexpected happens. Whilst it is recommended that you save money into an emergency fund every chance you get, this isn’t always possible. This fund can act as a safety net if life throws you a bump in the road. Unfortunately, many of us live from paycheck to paycheck and do not have money left at the end of the month to spare. This leads to problems when unexpected bills or costs arise that we cannot afford. For example, what do you do if your car breaks down on the way to work? You need your car to commute every day but may not have the money to pay for the repairs. In such a situation, a fast cash loan, written by many in the search bar as cash loans fast, may be your best option.
What is a fast loan?
Customers seeking fast cash loans typically need the money the same day. These money loans are offered by short-term lenders, with loan amounts in the range of $100 – $5,000. You can find many short-term lenders online who have a quick and easy application process. Once you have submitted a loan application you are likely to receive an instant approval decision, meaning there is very little waiting time to know if you will receive the much-needed funds.
Comparing lenders for cash loans fast
Many customers applying for a short-term loan urgently need fast cash, which can mean they do not spend enough time to sufficiently compare lending options and understand the cost of borrowing. This can result in a higher cost of borrowing or unexpected charges, making the loan unaffordable. To help you save time but also review lenders more thoroughly, here are the two main fees short-term loan lenders can charge:
- Establishment fee – A lender can charge an establishment fee up to 20% of the loan amount for delivering your loan.
- Monthly fee – A lender can charge up to 4% of the loan amount as a monthly service fee for managing your account.
It is also worth reviewing the lender for additional fees or charges that may be related to the loan, such as; an arrear fee, late payment fee or early repayment fee. You should only apply when you have reviewed the loan product in detail and know the loan is affordable.
Cash Loans Fast Comparisons with Friendly Finance
Our comparison tools and loan calculators make comprehensive product reviews quick and easy. We have reviewed loan offers from trusted short-term lenders on the market, highlighting details about the loan products that include; minimum eligibility criteria, application/approval process, cost of borrowing and company information. What’s more, we compare products side by side in one window to make direct comparisons between products simple. When you have chosen a lender, our loan calculators will help you quickly understand if the quick cash loan is affordable. Apply for a fast cash loan with confidence when using Friendly Finance tools.
Should you have anymore questions the government hosted website MoneySmart has the answer to many borrowing basic questions