A1A Fast Cash provides loans to those in need of a little extra cash in the case of
an emergency, to pay bills, to buy groceries or take that much
needed vacation. Whatever the reason, A1A Fast Cash is here
to help! Most applicants qualify for a cash advance or short-term
loan simply by having a job and a checking account. Apply now
and you could have the cash in your bank account tomorrow!
You can be approved for up to $1500 and your repayment of the advance is not due until your next payday (maximum 15 days). Learn more about fast cash.
A payday or installment loan (also called a payday advance or cash advance) is a small, short-term, loan secured against a customer's next pay check. Your job is your credit and your actual credit report is not reviewed. Other databases may be used to confirm your identity and verify you don’t have a track record of not paying back payday or installment loan direct lenders. Legislation regarding payday and installment loans varies widely between different countries and, within the USA, between different states.
The basic loan process involves the payday installment loan direct lender providing a short-term unsecured loan to be repaid at the borrower's next pay day. Your first loan may be prorated if your payday or installment loan is just a week away. If your payday loan direct lender isn’t prorating, ask why!
Consumers complete the installment or payday loan application online (or in some instances via fax or on the phone). Typically, some verification of employment or income is involved (via pay stubs and bank statements). The payday or installment loan is then transferred by direct deposit to the borrower's account, either the next business day or, even the same day (usually for a small fee), and the loan repayment and/or the finance charge is electronically withdrawn on the borrower's next payday.
On the maturity date, the borrower is expected to either pay the amount of the payday or installment loan plus interest fees OR pay fees only and extend the cash advance personal loan an additional two weeks, at which time the original amount plus additional interest fees are due. At A1A Fast Cash, we will call and/or text you reminders to make sure you are prepared. We will work with you to understand whether you want to pay just your fee or payoff all or part of your principal, too.
Not sure a payday or personal installment loan is right for you? Other options are available to most payday loan and personal installment loan customers. These include pawnbrokers, credit union loans with lower interest and more stringent terms, credit payment plans, income tax refund anticipation loans, cash advances from employers, auto title or pawn loans, bank overdraft protection, cash advances from credit cards, emergency community assistance plans, small consumer loans and direct loans from family or friends.
Though rates may seem high in comparison to some options, every customer is in a different position and must make the best decision for himself or herself.
To compare apples to apples, consider the cost of typical situations a payday or personal installment loan customer faces:
- $100 payday advance with $19 fee = 495.36% APR
- $100 bounced check with $48 NSF/merchant fees = 1,251% APR
- $100 credit card balance with $26 late fee = 678% APR
- $100 utility bill with $50 late/reconnect fees = 1,304% APR
So what is an installment loan and why would you choose an installment loan instead of a payday loan from a direct lender?
First, a payday loan is typically a two week loan. You borrow $300 and the interest and principal is due on your next payday. Many people pay the interest only and extend or rollover the principal for another two weeks until they can either pay it down or pay it off. An installment loan has a set number of payments that you decide up front- usually 10, 12, 15, or 20. So if you borrow $300, each payment will include interest AND some principal. You will be paid in full on your last payment due date. You can see that if you did 10 installments to pay back $300 plus interest, they would have to be larger amounts than if you did 20 installments.
So installment loans can give you peace of mind- you know exactly what date your loan will be paid off on the day you take your loan out.
Direct lender Installment loans have a lower APR than payday loans, in most cases. There’s no prepayment penalty, either. Finally, existing customers may qualify for a larger loan amount than on a two-week loan.
When looking for fast cash via a payday loan or personal cash advance, be sure to work with a direct lender who has a good record with the Better Business Bureau and who doesn’t show up with lots of concerns listed in a search of consumer complaint sites or in online reviews.
A1A Fast Cash is a direct lender, not a reseller, and we are licensed and bonded in Delaware with an excellent reputation. Check our reviews out on SuperPages.com.