Cash advance stores are becoming a trend in recent years and its popular among people. Customers take a loan against their paycheck and pay the loans back, usually within 30 days, and the interest rates can be high. Also, the amount of a loan can often be much less than needed. So what do you do if you need more money than a single cash advance loan can provide. There’s always the option to receive multiple loans through different cash advance firms.
Here are the steps for multiple cash advances
Apply for a standard cash advance loan before you attempt to take out any other type of loans. Standard loans are found at stores such as Advance America. Typical payday loan businesses will offer you a percentage of your paycheck upfront, but if you shop around, they often offer specials to first-time borrowers.
After you have your loan, you can also apply for a multiple cash advance loan online. Cash advance businesses online often do not run off the same national systems as brick and mortar stores, therefore your first traditional loan will not stop you from receiving another loan online.
Applying for a title loan is another option for multiple cash advances. These requirements require that you own your car and have the title in your name. They loan you a set amount of cash based on what they think your car is worth (they pay less than the value). You then pay off the loan in the desired amount of time in order to avoid the handing over of your vehicle to the loan agency.
Take out a community loan for multiple cash advances. These loans are funded by individual lenders who pool their cash together. If you have a positive credit rating, you can secure larger loans at fairly decent rates compared with standard cash advance loans. Prosper runs a credit check, lets you tell people why you need the money and then begins the funding process by allowing each member to apply an amount of their choosing toward your requested amount.