Every now and then the need comes in to have fast cash in a hurry but if your paycheck is not due for a few days or even a week what is one to do? Simple, you would apply for a payday advance. There are various companies that offer payday advance loans until your paycheck is available to you.

The process of these advance payday loans are fairly simple. As the borrower you can simply handle your application online by faxing or emailing all documents needed or you can apply in person at any of the payday advance loan companies. You would then select how much you need to borrow until your payday. These payday advance typically run between $50 and $500 dollars, but they’re companies that offer payday advances up to $1500.00.

Once you have selected how much you need to borrow you will then begin the process of filling out a short application form to start the process. You will need to have an active checking account that is not less then 90 days old since you will have to write a check as collateral for the money that you borrow until your next payday. You have to be at least 18 years of age and you must be currently employed with a monthly income of at least $800 to $1000 dollars a month depending on which company you decide to use.

Once you have met all the guidelines for the company you will then be able to start the full process of obtaining a payday advance. As the borrower you will write a check for the entire amount of the loan and the finance charges. The finance charges on a payday advance run typically around $15 to $30 dollars per hundred that you borrow.

On the day your payday advance become due you're suppose to visit the company to pay off your debt in full. Or the company reserves the right to deposit your check that you wrote our prior to receiving the money to cash for payment in full. Most of the time borrows can not afford to pay back their payday advance in one paycheck so they will renew their loan by paying an additional fee and having the payday advance reset. At this time the company will decide to higher your interest level also.

Depending on the state you live in your terms may differ slightly as each state has their own set of laws regarding payday advance loans. It is always best to make sure you read over the terms and the fine print carefully to make sure you understand exactly what you are signing and reading over any penalties in case you are not able to pay back the payday advance on time. Once you have filled out your applications, and you are accepted into their program you can have your payday advance as early as the next day. They’re even a few companies that can turn around and issue your payday advance cash the very same day. As you see the process of obtaining a payday advance loan is very simple and easy.