With so many families struggling to make it from paycheck to paycheck it’s not hard to see why quick, low value cash loans, known more popularly as microloans, are popping up more frequently in the news and advertising. They’re a simple, user-friendly solution to a problem we all have from time to time that doesn’t necessarily tie you into the traditional bank’s way of doing things.
Many people need a little extra cash from time to time, whether it’s for groceries or sudden emergencies, like accidents or burst pipes. Getting cash loans from banks through formal and orthodox approach can be a problem. Most banks or commercial lenders require surety, a spotless credit record, and substantial paperwork before qualifying for a loan, even if it is a small personal loan.
The underlying factor is that these loans are more than likely designed for those who don’t require extra cash, or require more substantial loans such as property acquisition and are paying back over a prolonged period of time. If you need a bond, they might be able to help you relatively more seamlessly, but still the paperwork and hassle is the same if you have an immediate need money to buy petrol until payday, or if you’ve had an accident and need the money for hospital bills. This is because traditional banks don’t typically deal with needs arising from day-to-day cash cash-flow demands. This is where microloans come in. A quick cash advance for generally up to R15,000 can be completed with minimal paperwork, cleared into your account within 24 hours, sometimes even on the same day, and ask for nothing more than a cellphone contract would – a bank statement, payslip, and proof of ID and residence.
Since these quick cash loans are unsecured, you won’t need to put up your house or car to secure them. Accredited facilitators will also be able to assist you with finding the best loan option, interest rates and even provide professional advice and assist in correctly motivated applications for clients with compromised ITC records. Direct bank applications are inclined to be non-negotiable in this regard – miss a couple of cellphone bills and you probably wont be able to secure a cash advance, even if you can prove that you have the income. With cash loans, this can be overcome.
Quick online cash loans are as simple as completing the application form online and getting a trained consultant to get back to you to confirm all your details. Without the endless paperwork, unnecessary phone calls, and with a wide range of loans and repayment periods to suit your need, you will no longer have to endure lengthy phone calls and repeat visits to the bank or brokers office.