Cash advance loans get money in your hands in a matter of hours for those financial emergencies. With no faxing of documents, the application process takes less than five minutes. And with no credit check, approvals happen in no time.

To find the best deal on a payday loan, understand late fees and interest rates. Then ask about them before signing up with a lender.

How Cash Advance Companies Charge Their Fees

Cash advance loans are designed for a matter of weeks, so lenders charge a flat fee rather than an interest rate. Most lenders post their fees as so much to borrow a hundred dollars. On average, financing fees are about 15% or $15 for every $100 borrowed.

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