No Fax Payroll Advances

A faxless payroll advance allows borrowers to get necessary cash between pay checks if an unexpected expense or emergency arises, or if money is coming up short before the next paycheck. This service may be a solution to financial dilemmas if the consumer is prepared to research the online lenders for the best deal, and be ready to pay the loan in full when it's due.

These short-term loans are also known as payday loans, cash advances, instant cash loans or paycheck loans. Consumers can apply for a faxless payroll advance loan completely online if they are able to provide all the necessary documentation for the loan. Many companies now offer no fax payroll advances via their websites, and will notify applicants of pre-approval usually within one hour.

In order to have an application approved, borrowers need to meet the minimum requirements. Most companies' applications will ask for contact information, employment or social security income information, and checking account information, including the routing and account numbers. Typically, the applicant must have been employed at their job for three months before qualifying for a faxless payroll advance. Unfortunately, if the information provided cannot be verified, the applicant may be required to supply a copy of a recent pay stub, bank statement or voided check.

In the same way that the loan application can be handled online, payments also can be made electronically. Most lenders offering no fax payroll advances have various payment options which may include only paying the finance charge for a limited time, paying the finance charge as well as a payment toward the loan, or paying the loan in full, in addition to any finance charges accrued.

The advance amount lent will depend on the borrower's income as well as on the lender. Amounts can vary as much as $50-$1500 depending on the circumstances, income and the lending company. Interest rates also will vary depending on the company, as do the fees that company will charge for faxless payroll advance. However, a typical interest rate for these loans may exceed 500% for a 14-day loan.

While these services can be a quick and efficient answer to a pressing financial need, always consider other options that may have lower interest rates or fees. Those who determine that no fax payroll advances are necessary financial tools should borrow the least amount of money that is necessary, and pay it off as quickly as possible. In this way, consumers will better manage the financial resources with which God has entrusted them. "Though thy beginning was small, yet thy latter end should greatly increase" (Job 8:7). God will bless those who are responsible with little things to be in charge of far greater things.