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A quick cash loan is a type of short-term borrowing option designed for emergency situations that require a small amount of money, and it’s typically easier to qualify for than traditional loans. Typically, these loans don’t require a credit check and can be funded within one business day. They’re most often used by borrowers who can’t meet the strict requirements of bank loans due to low credit scores or limited income.

Unlike many traditional loans, quick cash lenders don’t care about the borrower’s credit score and are more concerned about their employment status and ability to pay back the loan. As such, they may offer more lenient lending terms and are sometimes a better option for people with bad credit than payday alternative loans, which are offered by some banks and credit unions.

In order to qualify for a quick cash loan, a person needs to be employed by a business that pays at least minimum wage, have an active checking account and provide proof of reoccurring income, such as a paystub or a bank statement. The lender also typically charges a $20 fee for each month the loan is open, and a maximum of one quick cash loan per 180 days applies.

Those seeking a quick cash loan are often in need of immediate funds for emergencies, such as medical bills, car repairs or unexpected expenses. Despite the lenient requirements, it’s important to consider all of your options before applying for a quick cash loan. The interest rates and fees on these loans can be expensive, and failing to repay the debt on time could negatively impact your credit score.


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