Essentially, payday loans are emergency funds that borrowers are typically required to repay to lenders with their next paycheck. Cash advance loans do not need collateral of any kind, a good credit score, or a legal employment history like conventional bank loans do. You don't have to kiss your car goodbye to get a loan. Here, direct lenders consider alternative sources of income instead when determining your eligibility.
Read more: Source: Can You Apply for Unemployment Online Payday Loans?
Kimmy Burgess is the Manager of Cash in a Snap, which helps clients get connected to its large network of reputed lenders to obtain quick cash advances when they need it most. Kimmy has over 20+ years' experience in Administrative Management, with many years in the lending industry.