It can be very stressful to face a personal financial emergency and feel like you have no one to turn to. You ask friends and family for help, but they’re in the same shoes as you. You’re not eligible for a personal loan from a bank, or you simply don’t have the time to go through the long application process.

You need to raise emergency cash now, but how you can you get it? Payday loan near me can help.

What are Payday Loans?

Have you ever asked a friend, “Hey, can you spot me a little cash now? I’ll pay you back when I get my next paycheck. Money’s coming in, but I’m just running a bit short now.”

That’s essentially what a payday loan is like. You are essentially advancing money, with the guarantee that you can cover it from your next paycheck. You just have to present some proof of your employment and income, such as a pay slip or a Certificate of Employment.

Payday loans are short-term loans, which means you pay off the amount in a short period of time. Generally, payment period is within a pay cycle (or one month). But you can talk to your lender about other payment options.

If an emergency happens, and you are unable to make a payment pursuant to the terms of your agreement, all you need to do is to contact the representatives. A trained representative will assist you by bringing you back to a good standing.

How much money can you get from Payday Loans?

As a general rule, the loan amounts are $400 or below. However, the amount can vary depending on your income and the state where you live. In some cases, it’s possible to borrow more if you can show that you have a higher salary level.

What can you use payday loans for?

Unlike bank loans like a car loan or a house loan, where you have to specify how you will use the money, lenders will not ask you to explain or justify the reason for the loan. However, part of being a responsible lender (and wise financial management) is knowing how to use the money judiciously. Generally, payday loans are meant for urgent, unavoidable emergency expenses.

People will often get them for sudden house repairs or car repairs, or for medical bills or medicines that aren’t covered by their insurance. Another common reason is for emergency travel. You suddenly have to take a trip—maybe to see a sick relative, or take care of important business—and need a way to cover the travel expenses.

 

What are the benefits of payday loans?

• You don’t need to have a high credit score. Unlike traditional personal loans that you get from a bank, you can get a payday loan if you have a bad credit history, or even zero credit history.
• Less documents and red tape. If you’ve ever applied for a bank loan, you know how tedious the application process can be. You have to submit so many documents, including income tax returns or finding someone who can be a loan guarantor. Sometimes you have to take several trips to the bank. However, for payday loans, the only thing you need to submit is a government-issued ID, proof of income, and a bank account number.
• Fast processing time. The whole definition of “emergency loan” is that you are in a situation where you need money as son s possible. Payday loans can be processed within as little as 30 minutes, compared to the weeks that traditional loans will take.
• Convenient application. Through an online lender like TennesseeTitleLoansInc., you can do the entire process online, from applying for the loan to collecting the loan amount.

Who is eligible for Payday loans?

Everyone and anyone can apply for a payday loan! You just need to have an active checking account, a steady source of income, be at least 18 years old, have a state-issued ID, and be able to provide a blank check and most recent paystub. This means that even the people who typically have a hard time getting a bank loan approved, such as students or people with no/bad credit history, can qualify for payday loans.

How do I apply for Payday Loans Near Me?

• Find a credible online lender. TennesseeTitleLoansInc is one of the most trusted sources for payday loans Tennessee. It’s known for it’s secure website, simple application process, and friendly customer service.
• Fill out the form. It’s simple and fast to complete, and all the information is confidential! Don’t worry, your personal information won’t be sold to the 3rd party, it just helps the customer service representative understand what you need.
• Explore your options. A representative will contact you and present your different options. Feel free to ask questions and share concerns—they are there to help you!
• Submit application. Once it’s approved, submit the required documents.
• Collect your money. You can get it as cash, check, or online transfer.

Payday loans may not be a perfect fast cash advance online solution for all your needs, but they can definitely provide the short-term relief for your urgent needs, especially is they don’t exceed $500. Just remember that with any loan that you take, you’re responsible for paying it off within the terms of agreement! Be wise with the choices you make!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.