When you have unexpected emergencies causing unforeseen expenses, you might be wondering how you will be able to pay for these expenses. Cash loans, or short-term personal installment loans, can help by allowing you to borrow the money you need now and pay it back over time. You might wonder, “How does a cash loan work?” or “What are cash loans good for?” or even, “How to get a cash loan?” Here are answers to some common questions about cash loans, including cash installment loans online.
How Does a Cash Loan Work?
Cash loans, specifically direct online installment loans, are easy to apply for at MaxLend. All you need to do is submit a loan application online. If you are approved and take the loan, the funding gets deposited into your bank account, sometimes as early as same day.* These are unsecured loans, meaning that no collateral is necessary.
In general, lenders may consider your outstanding debts, income, and your credit score and history when determining whether you’re eligible for a cash loan. When you’re approved for an unsecured installment loan, the lender will let you know the payment schedule, so you know when to pay the loan back.
What Are Cash Loans Good For?
There are many reasons you might consider taking out a cash loan. You might be remodeling your home, or maybe you just moved and have some associated moving costs. You could need new kitchen appliances. If you need emergency funding for unexpected expenses, such as for veterinary bills or car repairs, cash installment loans can also be used for these expenses and more. At MaxLend, the application doesn’t ask what the loan will be used for.
Though you must always use loans responsibly, you are the only person who knows what your bills are and how much you can afford to borrow. Some expenses are unavoidable, and if you don’t have the funding available, direct installment loans or cash loans are a great way to take control of your bills.
How to Get a Cash Loan
It’s quick and easy to find out if you’re eligible for a quick cash loan with MaxLend. Just apply online.
First, you’ll need to decide how much money you would like to borrow. Then you’ll provide personal information such as your name, address, and birthdate. You will also be asked about your main source of income and for information about your checking account. Having this information handy makes it easier to apply. The process is quick and easy and you typically know right away if you’re conditionally approved – and for how much. To finalize your unsecured installment loan, you’ll need to review & eSign your loan documents and you also may need to have a confirmation call with Customer Service.
Contact Us Today
If you have more questions about cash loans or how you might qualify, check out MaxLend’s Frequently Asked Questions. At MaxLend, we also have Customer Service representatives available to help you 24/7. Just call us anytime at 877-936-4336 with questions or for help applying.
Additional reading:
Most Common Reasons People Take Out a Loan
Taking Advantage of Installment Loan Rewards
Overspending: How to Stop Spending Money
*Same Day Funding is available on business days where pre-approval, eSignature of the loan agreement and completion of the confirmation call, if a call is required, have occurred by 11:45 a.m. Eastern Time and a customer elects ACH as payment method. Customers who complete this process by 1:30 p.m. Eastern on business days may still receive funds on the same day, but some banks may not disburse the funds until the next business day. Other restrictions may apply. Certain financial institutions do not support same day funded transactions. When Same Day Funding is not available, funding will occur the next business day.