Unless you own a functioning crystal ball, anticipating financial emergencies is next to impossible. Often the only way out of the situation is a cash loan, which is an ideal solution to meet your needs regardless if you’ve got good or bad credit.
However, with so many different types of cash loans available, it can get a bit confusing which one is which. That’s why we thought it’s time to make things a bit easier for you by explaining the different types of loans and what they all mean.
A short-term loan option for borrowing smaller amounts of cash, payday loans can come in handy when payday seems far away and you need the cash sooner. They also refer to the fact that as a short term loan, you’ll be repaying it on your next payday.
Fast cash loans refer to a loan option where the approval process is fast and funds are transferred quickly (usually via online banking) to you. Lenders like Moola typically transfer funds within the hour.
Same day loans follow a similar process to that of Fast Loans, with easy application and faster processing time.
All cash loans are typically short term loans, to provide some instant cash for you through to your next pay day.
A bad credit loan, as its name suggests, is a loan specifically designed for people with a poor credit history.
This refers to that odd emergency, like a broken down car or when you’re left in the lurch, and need some fast emergency cash. Again, there’s no need to stress because Moola can help fix you up.
An unsecured loan is when there is no requirement for you (the borrower) to provide any property, collateral or security for a loan.
Payday advance loans are a short-term loan option for borrowing smaller amounts of cash in advance of your next pay day. The term “payday” is used because sometimes these loans can come in handy when your next pay day is a little too far away.
As mentioned earlier, regardless of the type of financial situation – Moola has a cash loan ready to meet your needs. The best part? Applying online is fast and easy, with money transferred into your account quickly so you can take care of things and get back to focusing on other important stuff.