How to get a Cash Advance

Are you low on cash and in need of a quick cash solution? Here at We Find Loans, we help you find cash advances through our easy online application process.

We understand that the unexpected can occur, that’s why we want to help. There are a lot of cash advance lenders out there and it can be overwhelming trying to decide which one to go with. We Find Loans takes the stress out of this process because we look for cash advance loans for you.

Moreover, we look for cash advances that match your needs in the best possible way. If you’re unsure about how it all works, read on to find out everything you need to know about getting a cash advance online.

What is a cash advance?

You may be wondering “what are cash advances?” An advance in this context refers to an amount of money that is paid before it is due, for example, a portion of your salary being paid to you before payday. It can also refer to money being lent. While “cash” obviously refers to money. As a result, a cash advance means money received ahead of time.

A cash advance from a lender is, in other words, a personal loan. It’s normally a small loan repaid over short amount of time. There are fees associated with the repayment of the loan, which we will explain further in this article.

How do I get a cash advance?

Applying for cash advance loans is simple. It’s important to have access to internet as most cash advances are found online. At WeFindLoans we have a basic online application form that is easy to complete and submit.

Once you have applied, you should receive an outcome of your application from us within 1 hour of applying. We would give you provisional approval and then refer you to a lender that is able to offer you the finance you need.

What do you need to get a cash advance?

Along with the application form, you need to provide a few supporting documents.

• 100 points of ID to show that you are over 18
• Bank statements or payslips showing regular income for at least 90 days
• Mobile phone number and Email

100 points of ID means providing a combination of primary documents and secondary documents. Primary documents include birth certificates, passports and citizen certificates which are worth 70 points. Secondary documents include driver’s license, employee ID cards or student cards. You can’t choose more than one form of primary ID to make up the points. Thus, the rest of the points must be made up of secondary forms of ID.

To find out more about what you need for the 100 points of ID check out the 100 points of ID guide: https://www.border.gov.au/Licensing/Documents/100-points-identification-guidelines.pdf

Can I get a cash advance with bad credit?

Even if you have a bad credit rating it is still possible to get a cash advance. It all depends on how much you want to borrow, and what lender you choose to go with. Nevertheless, if you apply with WeFindLoans, we do the work for you. We can help you to find a lender that can say yes!

Some of the lenders may understand that even if you have a bad credit rating it doesn’t necessarily reflect your true relationship to finance. So, we don’t make it even harder for you to get access to credit in times when you may need it most.

Can I get a cash advance on Centrelink?

Similarly, if you receive Centrelink benefits it is still possible for you to get a cash advance. Rather than providing a copy of your payslips, you will just need to show a copy of your Centrelink statement.

Again, even though you are on Centrelink, we don’t believe this should get in the way of your ability to get a cash advance. We find lenders that can accept Centrelink payments as a regular income because we think that everyone should have a fair opportunity.

How is the cash advance repaid?

The cash advance loan is usually repaid by setting up a direct debit. Typically, lenders will set up a direct debit with your account, which means the repayment amount can come out of your account automatically on the time interval that you nominate. It can either be weekly, fortnightly or monthly depending on what will work best for you.

It’s important to remember to factor in the repayment amounts into your budget. This is so you know you will be able to make the repayments on time, and not incur any penalty fees in case you miss a payment.

How do you calculate interest on a cash advance loan?

There are certain costs associated with getting a cash advance loan. There could be an initial establishment fee of 20% of the total loan amount plus an additional monthly fee of 4%.

Of course, these rates are subject to individual lenders.

If you want to know how much your loan will cost, visit money smart to find a useful loan calculator. https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/payday-loan-calculator.

What are the benefits of getting a cash advance?

There are several benefits associated with getting a cash advance. Here is a list of them:

• They are easy to apply for
• 100% online
• Receive your money fast
• Accessible to anyone
• They can be used to pay for anything
• Fixed repayment rates

What are the drawbacks of getting a cash advance?

• There are fees you must pay to get a cash advance
• There are penalty fees if you can’t make a payment
• Need to have been receiving regular income for at least 90 days

What if my cash advance application is rejected?

You may be wondering what would happen if for some reason your cash advance application was not excepted. Well, fortunately if this does occur for whatever reason, there are some alternatives.

Perhaps you apply for a cash advance to pay for a utility bill. One option could be to negotiate with the utility provider. They may be able to help you give you an extension to pay your bill, or they might allow you to set up instalments to may it over a duration of time.

Another alternative to consider might be a Centrelink Advance Payment, if you are receiving benefits. This is a no-interest cash advance option where you receive some of your Centrelink income support early as a lump sum.

To find out more about the Centrelink cash advance visit: https://www.humanservices.gov.au/individuals/enablers/advance-payment

Cash advance loans can be a great solution to fix an expected cash problem. They are easy to apply for and you could receive your money fast. Along with filling out the application, there are only few additional documents you need to provide. Even if you have a bad credit rating or are on Centrelink benefits you can still get one. So, come to us and we’ll do our best to find a lender can offer you a cash advance.