Online loans offer consumers the opportunity to access money a lot quicker than any other traditional loan. As you may know, the process of applying for a typical loan from established financial institutions can take a week or longer, whereas online payday loans can be approved within just 24 hours. This is the main reason why more and more borrowers are turning to online cash advance loans whenever they need money to pay the bills or to cover unexpected expenses.

Description of Instant Cash Loans

Payday companies online generally strive to have applications for guaranteed loans verified and even approved within a couple of hours on the receipt of the application. If you want to apply for loans approval, all you need to do is visit the website, fill out the loan form and wait for a notification of approval on the same day. Once the loan application is approved, the company will offer you the option to receive the money through Western Union, for instance, or in your own checking account.

Required Information

In order for your application to get guaranteed loans approval, you will be required to provide vital and certified information. Typically, this will involve such information as your monthly income, employment history, Social Security number, checking account and some references. Credit scores are typically not a requirement by direct lenders, which makes the entire application for overnight loans much easier for borrowers.

Information Verification

Before any approval can take place, you can expect a legitimate online lender to contact you in order to verify all the information you have provided. In addition, the lender may try to contact your employer to verify your employment status. The same thing happens to check if your checking account really exists. Although not common practice, some online lending institutions would even ask borrowers to fax their bank statements or pay stubs to verify their checking account.


Keep in mind that each and every document or piece of information you submit must be true and certified. If you falsify even a single entry in the loan application form and the online lender detects it, there is no way you can get guaranteed loans approval. Another reason you may be declined for an online loan is when it is found out that you have multiple unpaid loans with various payday companies. Although your credit score will not be used as a basis for approval, having a number of unsettled short term loans is definitely not going to be in your favor.

Are Payday Loans Your Only Option?

When it comes to instant cash loans, it is usually not a matter of whether you can get guaranteed loans approval or not. First and foremost, you have to ask yourself if you really need this type of loan or not. Since such short term loans come with very expensive loan charges and interest, it will not be the best idea to turn to these loans unless you need money so badly. To avoid getting trapped in the cycle of payday loans, consider them as emergency loans only and not a source of instant cash.