People with financial emergencies need small loans fast. A normal Brick & Mortar bank cannot provide that service or if they grant you a cash advance it is extremely expensive – often more expensive than taking out a Payday Loan from a Payday Loan Lender. You probably know that Payday loans are small loans fast approved. They carry a fixed fee and they aren’t cheap. The advantage they have is that you are under more pressure to pay it back, while the cash advance you receive from your bank a) costs a fixed fee + high interest on top of it.
A cash advance from your bank also “disappears” within your overall account balance which is usually negative if you require a cash advance anyway. The long term cost for a cash advance can easily outrank your small loan that you took out fast from a cash advance lender. So, make sure you compare and make sure that you can pay back the cash advance loan from your bank fast.
A Payday Loan will cost you – no doubt, but the nature of the product “motivates” to pay it back, while the bank cash advance might often be carried for months and months with compounding interest fees that grow bigger and bigger.
So, need a small loan fast? Try our service where we connect lenders to good customers like yourself who need a little help in a financial emergency situation.
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