Cash Advance

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Cash Advance Loans from True Blue Loans

Sometimes a cash advance is needed quickly and that’s why online lending has become so popular. Traditional banks can offer loans to their customers but often the process is longer and the normal reason for a cash advance loan is an unplanned expense. If this is the case it is understandable that you will need a lending decision quickly. True Blue Loans has plenty of experience in cash advance loans and can consider your application promptly. We have a team of dedicated support staff who will ensure your application is reviewed as quickly as possible and we will keep you up to date with all our progress via email.

What is a Cash Advance?

A cash advance is a lump sum payment received from a lender, like other short term lending options, our loans are designed to be flexible and work with your individual requirements. Depending on your requirements, you can apply for up to £300.00 with True Blue Loans. There are different types of cash advances available and making the right choice is important, that’s why we offer repayment terms over a choice of months.

How to get a Cash Advance loan

In order to be considered for a loan we ask that you complete our simple and straight forward application process. This is done online and typically this should take you no more than 10 minutes and once submitted our team will work quickly to provide a lending decision.

Cash Advance repayment options

In order to ensure you have choice, True Blue Loans offer repayments over 3, 5 or 6 months. This means you can select a repayment amount which is affordable to your individual budget. We apply a daily rate of interest but would always recommend, as with any form of short term lending, that you select the shortest and most affordable option. However, if you would like a longer term that’s absolutely fine also and we will make the options available to you.

 

The different types of cash advance

The online market now offers a whole host of different type of cash advance loans. In fact the product offering of this sector is more varied than ever before which is fantastic news for consumers. Depending on our short term borrowing needs there is now likely to be a loan which can help. This was not always the case though, cash advance loans online had become very limited and in fact many consumers had started to walk away from the online lenders and the product they offered. For nearly 7 years the product being offered as a cash advance loan online had not changed and as a result the modern day needs of consumers was not being as equally matched as had been the case in the early days of the market. It has taken about 8 years for true changes to have taken place in this market but the differences are now becoming clear to see. Today lets explore these changes and what they can mean for us as modern day consumers.

The market for online borrowing is quickly becoming a much more regulated and consumer friendly market. New regulators and legislation means that the lenders who remain in this market to offer cash advances do so under much better guidance than ever before. Equally those older lenders who were not as willing to change have had to make some tough decisions if they wished to continue offering a cash advance product. As consumers we can nowadays expect to find a lending resource which is geared around flexibility and choice. The way in which this is delivered to consumers is via instalment based loans. An instalment loan allows us as consumers to select a repayment term which is suitable to us and our needs. Like a traditional bank loan, lenders will offer a choice of repayment terms from which a selection can be made. This means we can repay the cash advance at a rate which is affordable. Depending on the lender we can make selections which if over a shorter term, will offer a slightly higher repayment and if extended to a longer term, will allow us to reduce the monthly amount due. This style of lending is very different to the loans which were traditionally offered as online loans.

 

In fact in the past the options offered by online lenders were very limited and in reality only offered consumers one form of repayment for their cash advance. This option was a lump sum repayment which meant as consumers we were asked to repay the entire amount borrowed on our next employment pay date. Although these form of agreements were always clearly explained, many of us struggled to repay the amount agreed simply because the amount itself was so large. In reality many of us as modern day consumers are completely used to repaying for services and goods alike over a pre-agreed period of time and therefore it is no surprise that cash advances need to work in the same way.

By Kieran Moulden