Fast Loans

Written by Liza Hartung
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The term "fast loan" means something different to everyone, depending on your current situation. You might think that two weeks to get a loan is fast. You might think that overnight isn't fast enough. The time it takes to get approved for a loan and get your money depends largely on the kind of loan you are applying for.

Payday Advance Loans

If we're talking about emergency cash to get you through until your next payday, you can have that kind of money in your account overnight. Those loans are extremely quick. Usually, you can only get upwards of $500. It's expected that you are able to repay the loan almost as quickly as you got it. There are always fees or a high interest rate to go with these loans. If you have to pay any fees up front, you're probably getting scammed.

Some people see payday advance loans as an opportunity to get some quick money to take a Las Vegas vacation with their friends. This is not what this kind of loan is for. Use it to get your car fixed, pay off overdue bills or respond to a family emergency. It's always good financial advice to only get the amount of money that you need, never more. If you can't pay the loan back right away, you'll pay a hefty amount of extra fees.

Now, something like a home loan or a personal loan will take a couple of weeks. Your application has to be reviewed. Your credit report has to be pulled. If any company promises you a large loan in a speedy amount of time, be wary. These loans certainly take longer than just a few days to be processed.


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