Cash Advance Lenders
Cash Advance Network
Cash Advance Network is a payday loan lender. They offer loan approvals in a matter of seconds and transfer the funds to the applicant’s bank account the next business day if the application is approved by 5PM.
Cash Advance Network offers short term; short money loans to applicants who need to cover an unexpected expense before the next paycheck rolls around. The applicant can receive up to $1,000 from Cash Advance Network. The loans can be used for any purpose.
Cash Advance Network approves loans or most applicants even those with less than good credit. The payback of the loans is timed to coincide with the applicant’s next paycheck. If the loan is taken out within seven days of the applicant’s payday, the loan is due back on the payday after that.
The application can be filled out and submitted online for instant preapproval. Cash Advance Network will only require additional documentation to be faxed to them if something on your application does not quite check out. Approval for a Cash Advance Network Loan takes about an hour and the funds will be transferred to your bank account the next business day. If your application is denied, Cash Advance Network will inform you by email.
The finance charge of Cash Advance Network loans is 30% for a 14 day loan. That calculates out to $30 for every hundred dollars borrowed at an APR, or annual percentage rate, of a little better than 780%. It is also possible to renew the loan by contacting the lender.
Cash Advance Network will begin debiting the finance charges from your bank account on the due date of the loan. The applicant has the option to pay the loan in full or renew the loan and make a partial payment. Until full payment is made, the applicant will continue to accrue finance charges based on $30 for every hundred dollars borrowed.
The applicant also has the ability to decide not to take the loan after submitting an application by faxing the application supplement to the lender within 24 hours of approval of the loan. If the funds have already been transferred, the lender will debit the applicant’s bank account for the principal amount only.
The applicant can renew the Cash Advance Network loan up to 4 times. On the fifth time, the applicant must begin paying down the loan including the finance charge, in $50 increments. The finance charge will decrease each time a partial payment is made. Each payment after the initial payment must be a minimum of $50 plus the current finance charge until the loan is paid off.
Payment in full or in part can be made at any time. Cash Advance Network will only debit the applicants bank account the finance charge the first 4 payment times unless the applicant notifies the lender at least 3 business in advance of the loan date and inform the lender how much of the loan the applicant wishes to pay.
Those that are self employed are not eligible for Cash Advance Network loans.