How to Apply for a Cash Advance Online

Cash advances---also known as payday loans---are a short-term, last-resort option for people in a financial bind with no other means of getting a loan. Cash advances come with high interest rates and service fees. Many companies offer cash advances online, but you should research the one you want to use before entering into a loan agreement.

Things You'll Need

• Employment verification
• Pay stub
• References
• Computer with Internet access

Instructions

How to Apply for a Cash Advance Online

1. Use a search engine to conduct research on companies that offer cash advances. If you do not want to fax verification documents to the lender, choose a company that offers "faxless" loan services.

2. Apply for the loan by filling out all necessary contact information and employment verification.

3. Select a user name (if applicable) and password. Record this information as you might need it to check the status of your loan.

4. Click "Apply" to begin the loan process.

5. Select the amount of money you are requesting. Each company sets different limits for the amount of cash you might be able to borrow.

6. Enter information about your employer (name, address, phone number, contact person), how long have you worked there and what you earn each month. A payroll contact might be requested.

7. Select the dates you are paid monthly and provide information on your next scheduled pay date. The lender wants this information as it determines when the loan should be repaid.

8. Enter your bank's routing number and your account number when asked. The lender needs this information to deposit funds into your account.

9. Provide references (if applicable). Many companies only contact references if you default on the loan.

10. Complete the loan application by reviewing all the information and confirming your acceptance of all disclosures.

11. Electronically sign your loan application where designated.

12. Print all loan documentation for your records.

Tips & Warnings

• Researching the terms of cash advances is crucial. The fees associated with the loan may range anywhere from $30 to $90. Be prepared for a representative of the company to contact you as part of the verification process. Return customers may qualify for discounted loan fees. Pay the loan back on time.

• If you default on the loan, you will pay increased fees. Be sure to have enough money in your account on the scheduled repayment date.