Sometimes you need cash at very short notice and immediately. By definition this may rule out banks, employers and other conventional lenders where extended application processes may be required – and that may mean delays. The good news is that same day loans exist whereby you can apply to get a cash advance on your next payday almost immediately.

Fast access to money

To use an example, you may just have spotted a fantastic bargain but the seller is not willing to hold it and will sell on a ‘first-come first-served’ basis. If you’re still a few weeks away from your payday you may need quick access to cash to clinch the deal.

That’s where a type of loan called a payday loan may save the day. You just make an online application that’s very simple and you’ll usually get an almost immediate decision. If it’s positive, the money could be in your bank account in as little as 2 hours (assuming your bank can accept instant transfers).

What’s required

To be able to access same day loans, you’ll typically need:

an active USA bank account and debit card;
to be a USA resident at a permanent USA address;
to show that you’re in permanent employment and in receipt of regular, predictable income.

You may even be able to secure this sort of loan if you have issues on your credit history.

The mechanics

A payday loan works very simply. As part of the loan application you’ll typically need to provide your bank details and your pay dates as well as confirmation that you are in permanent USA employment.

Assuming the fast cash loan is approved, you’ll also be given full details of the interest and any charges (such as bank transfer fees). You will need typically to pay back the entire amount on your next payday or the one after that, depending on the date of the loan. As a general rule, the lender will debit your bank account directly with the agreed sum on the pre-agreed date and the loan is repaid.

Same day loans offer fast access to cash and the ability to take out a loan without having to face long repayments of debt going over months and months ahead. They may give you the flexibility you need to get through a difficult month.