Suppose you have some urgent financial need and you can’t wait until your next payday to get the funds. Short of asking your friends or family for help, you had few other alternatives. Cashco Financial understands your dilemma. To help people who are in these situations, we have a financial product called payday loan.
A payday loan is really a revolutionary product. You can apply for a payday loan today and get the money in as little as 15 minutes. Use the money to fulfill your financial obligation and you can pay us back when your next pay comes in. Isn’t it amazing? At this point, you may be curious to learn how much money you can get through a payday loan. Here are the details.
How much money can you borrow through a payday loan?
Let there be no doubt that a payday loan is a small loan. It is designed to help you meet your immediate financial obligations. But Cashco Financial also knows that if the loan amount is too small, there is little incentive to take it.
So we took the middle path and we capped the amount of our payday loans at $1500 or 50% of your paycheck, whichever is lower. $1500 is enough to pay electricity (and other utility bills), buy groceries or fuel and fulfill a number of small needs.
A payday loan is a temporary advance to meet urgent needs
Typically, this loan has to be paid back when you get your next salary. You have a number of repayment options too. You can either pay the money by cash at one of our centers, authorize a debit from your bank account on your payday or authorize a Western Union Quick Collect payment.
You can apply for a payday loan by visiting one of our offices or apply online. If you visit our center, we can approve the loan in as little as 15 minutes. At the same time, online approvals can take up to 24 hours. Note that a payday loan cannot be rolled over to the next payday or refinanced. It is for short-term needs only and as such, has to be repaid on your next payday.
Apply for another payday loan after paying off your last loan
At one time, you can take only one payday loan. But there are no limits to how many payday loans you can take. You can apply for another loan only after the payment for your last payday loan is cleared. So how do you get the money? You can choose to receive the money in three ways. It can be credited to your prepaid Visa Card (YesCard), deposited into your account or transferred through a check.
At this point, we have to stress that you should not choose payday loans if you need money for the long-term. There are other financial products for such needs like term loans and auto loans. Note that Cashco Financial provides payday loans are available to customers in British Columbia, Ontario and Alberta.
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