If you have the need for quick cash
and cannot wait for the formalities of typical loans, then there are many
options available to you. One such scheme is that of a fax-free payday loan.
This is a great option if you need to borrow a small amount of money for a
short period and do not have a credit card to use.
A Fax-Free Loan?
Though the name fax-free or fax-less
loan may seem a bit odd it is really in simple reference to the ease at which
you can acquire money with these types of loans. Unlike formal loan processes
or credit card applications which run a credit and income check, these loans
are easy to get and do not require supporting documents to be faxed to the
lender - get it?
Details of a Fax-less Loan
These loans are also referred to as
payday loans because they are generally given to bridge a person between
paychecks when there is a need to pay a bill. They operate similar to credit
cards in that they are for a small amount ($100-$1500) and need to be paid back
quickly (within 14 to 31 days).
However, unlike a credit card or
small personal loan, fax-less payday loans are granted without going through a
credit or background check and usually get money to you within a day or two.
What You Need for a Fax-less Loan
There are still some requirements
for this type of loan, but they are minor compared to the more formal loan and
credit card applications that you are used to. For starters, you need to be a
U.S. citizen to qualify. Next, you need to have proof of employment for at
least 6 months and need to have a monthly salary over $1,000. You must also be
above the age of 18 and have a checking account for the money to be sent.
Applying for Fax-Less Payday Loans
The application process for this
kind of loan is really simple. Using the five pieces of information above, all
you do is fill out a simple internet form and the processing will begin. Most
companies who offer fax-free payday loans will extend credit to almost anyone
who applies. Bad credit is not a serious issue with these kinds of loans since
no credit check will be run against you in the application process.
Once you are approved for your loan,
the money will be in your checking account by a day or two at the most so that
you can pay the bills that you need to pay before your next paycheck.
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