People are bombarded with financing offers these days and one of the new trends is getting an instant cash advance. The idea sounds good, but many people don't know what they are, how to get them, or if they are their only option. We will break down what it means to get an instant cash advance, as well as some options for getting one yourself.

What Is An Instant Cash Advance?

An instant cash advance is a short-term loan, typically for a small amount. They are designed to be obtained quickly in an emergency and repaid quickly, often by the borrower's next paycheck. Smartphones have many apps and some of those are instant cash advance apps. These are quick lenders who will loan you money to get through the next payday. However, there are some things about an instant cash advance before you look for an app to get some quick money.

Things To Keep In Mind About Cash Advance Apps:

1. Most Offer Only Tiny Amounts

Two of the most popular apps for these types of loans offer between $10 and $100. One only offers $10 for anyone downloading the app and seeking some extra money. It doesn't offer any additional money as its purpose is to just give you enough money to get by for a day or two until payday. 

The reason behind this is you may need some gas or food, and this will be enough to help. For many, it is helpful.

The other most popular instant cash advance app only offers $100. That can be slightly better if you need more money but those who need to pay for something like a car or home repair may not be served by this app. 

2. The Apps Only Work With Certain Banks

The money from the app is usually downloaded to your checking account but most instant cash advance apps only work with major banks. Those who bank at the local town bank will find their bank probably isn't on the list so you can't use the app. 

Some have expanded how they deposit money by also dropping money into your Cash App, Venmo, or PayPal account as well as a bank account. Every app is different, so each has different methods.

3. Instant Cash Advance Apps Take The Money Out Next Payday

These apps require an automatic withdrawal to repay the loan when you're paid, so they are a type of payday loan. There are fees attached and they will also be deducted. The method of repayment is likely the same as where the app deposited the money.

Consider A Payday Loan

A payday loan with Alabama Title Loans, Inc. is another option to fund emergency expenses like medical bills or car repairs. We can offer a larger amount to eligible borrowers as our loans range from $100 to $500. 

That will be more helpful to pay for an unexpected expense than what the instant cash advance apps offer. 

Applying with us is just as easy as with the instant cash advance apps and you don't have to download anything. 

Things needed to apply are:

• Proof of identity.
• Your most recent pay stub.
• Your Social Security card.
• A recent bank statement.
• A blank check from your bank account.

It's that simple. Those applying for a loan with us can get their money fast. It can arrive for your use either the day you apply or by the next business day. 

Applying Is Easy

Those who would like to find out if a payday loan is the right option for them can fill out an online inquiry form on the website. A loan representative from a nearby store will reach out and explain more about the process and the loan to you. 

Applicants will need to bring their required documents to a local store location to have them verified and finish the loan application. A representative will check your documents and help you through the application process. The paperwork is simple and the entire process including a decision can happen in as little as 30 minutes. 

Money is typically deposited into your bank account either that day or the following business day unless the lender has other policies to pay in person or through a local bank. Unlike the instant cash advance apps, Alabama Title Loans, Inc. works with all banks as long as you have an active checking account in your name.

Benefits Of A Payday Loan

One of the advantages of this type of loan is that those with bad credit can still apply. Payday loan determinations are based on your job and income rather than your credit score.

A payday loan can be used for any number of emergencies from paying for prescription medication to fixing a leaky pipe in your home.

Get More Information

Fill out the online inquiry form to find out if a payday loan from Alabama Title Loans, Inc. can meet your emergency needs. A friendly representative will answer all your questions when they call. 

An Alabama payday loan could be a better option than the instant cash advance apps. It's a simple way to pay for an emergency.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.