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If you are looking for some help with extra money at a time when you have been given an unexpected bill, or if you have an emergency situation that only a cash advance will resolve you may be scratching your head as to the best way to acquire the funds that will make such a difference to your cause. One way that many people immediately think of is to apply for a bank loan, but is that the most convenient approach when you are in a desperate situation with very little time to resolve the situation? Maybe a payday loan is the most suitable option to receive a fast, cash loan that helps you out of a tight spot?

Let’s take a look at the application process to apply for a bank loan and why that might not be the most convenient way of resolving your current financial predicament.

To apply for a bank loan you’ll most likely have to have a very good credit file and history with that particular bank. Even if that is a situation you pass with flying colours, many banks still rely on a degree of face-to-face procedures in order to sign customers up to loans. This could mean a number of trips to a physical bank, long phone calls with your bank manager or interviews to see if you pass all the eligibility criteria. All of this before you get to the paperwork that has to be processed prior to a loan being confirmed and transferred into your account.

All of these processes might take place and you are still left without confirmation of a loan from the bank. It is inconvenient, especially if you have suffered a short-term problem that requires instant attention with the help of a short-term loan or small cash loan. If you have bad credit or a poor credit history on your file you are even more unlikely to pass the bank’s eligibility processes and you’ll have wasted the time applying.

Instead, a payday loan provider is the best option for many customers looking for a fast cash advance.

Conduct thorough research in order to find the most reputable payday loan provider that is right for your specific needs. There are several responsible lenders out there, with payday loan products that offer a chance to even those applicants with a chequered credit history. A short-term loan application with a good payday loan provider should be easy to process, with an online application form that is simple to fill out. They will do their homework on you, check your employment information, in-goings and out-goings and ensure that they can provide you with a short-term loan that you can afford to pay back on your next pay day.

The convenience of a payday loan far outstrips that of applying for a loan through your high street bank. It can deliver you a decision on your application within a short period of time, and with the funds directly deposited in your bank the same day in most cases.

Jack Gavin

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