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Quick loans without employment verification – Cash Advance loans

May 1, 2014 by Financefox in Tips

Quick loans without employment verificationCash advance loans are similar to the pay day loans but the difference is that banks approves in these type of loans irrespective of the fact whether you are employed or not. However, in no employment verification cash advance loans, banks do not verify your details and you could avail these loans even if you have bad credit.

If you are worried about your financial condition and you are looking for loan that requires no employment, here are some tips which can help you.

Qualifying the loan

Much similar to any other loans there are certain standard requirements for these loans too. Any one is qualified for this type of employment verification cash advance, but one should fulfil the criteria of being of an age of 18 years or above and should also have an account that is at least 90 days old and your monthly income should be at least $1000. You can apply for various amounts of loans depending on your income.


Firstly you need to fill an online application form and then rest would be taken care by the lending institute or the bank. In these type of loans you do not have to provide lots of documents. It is not even necessary to give your employment details. There are many lenders who provide such services although the interest rate is high or some commission is charged but you get an immediate loan as soon as the application gets approved at ( ). Once the transfer is done you are required to send a payment request in which you allow the bank to withdraw a fixed amount of money from the account towards the payment of the monthly instalments every month.

Cash advance loans – Good or Bad

These loans can be availed any time with no document requirement. They do not have any impact on your credit rating. So this is a good alternative to the credit cards. The interest rate is also low . you have to pay back your loan from 7 days to 30 days. This time period is kept in such a way that you get your monthly income in this time period and once the loan is repaid completely, you can apply for another loan.


These type of  loans help people to get out of an emergency situation immediately but they are not something that one should rely on all the time.


The small scale business encounters the financial problems often especially in the start up phase so to meet the requirement of the business the owner may go for these type of loans because they are easily available and one could obtain as much as usd 500000 and that also in 5 to 15 days.

It is easier to get such loans as compared to the banks because the paper work is less, no credit history is required and also no third party guaranty is required.

The borrower from the firm is required to fill the application form and give details of atleast last four months of merchant account. Within six hours applicant knows the status of his application.

The procedure to return the loan is also very simple. The interest is calculated on gross sales. About 10% of everyday gross sale is given as monthly instalment. The loan amount is paid in six to nine months. There are so many advantages of merchant cash and one of them being that the merchant do not have to give any securities of his business the gross sales decide the pprincipal and also the interest of the lender. So if any month the sale goes down then merchant do not have to lose any collateral of his company  and there are also no defaulting payments also.


Online cash loan lenders give money to people without any securities. The credit rating is not considered. The lenders deposit the amount into the borrowers account directly and get the intrest and their principal from there itself. Borrowers have to sign over electronic access to their accounts to the lenders.


Those who give money after various document verification and those who give money without any document verification. In this the borrower only has to fill an application form and the lender wires the amount into the bank account directly. And all these are regulated by inter  bank clearing of electronic payment. Some times lenders gives money without any checking account.


  • Proof of age of being 18 years.
  • Identification proof
  • Employment proof of a period of six months
  • Account number of account  that is old  than six months.
  • Current bank account statement that proves your taxable income.
  • Social security number
  • Permanent address
  • No  past bounce check of borrower

People should ensure there lender to be a good one because they are asking for sensitive information like SSN and checking account detail so it is necessary to borrow money from a trusted lender.

The biggest loss of payday cash is that the interest rates are very high. Cash advance sector is not as advance as lending industry so there are more chances of facing bankruptcy in cash advance sectors. In these cash advance loan lender can claim for the amount on due date with the help of post dated cheques or can directly get it from the bank account.