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What is a Cash Loan?
A Cash Advance or a Payday Loan is a short term loan that is repaid with a preauthorized electronic withdrawal for your bank account on your next payday.
Cash loan lenders common requirements for the applicants:
- to have a checking account with a bank for at least 3 months
- to earn a monthly net income of $1000 after all deductions
- to be in employment for at least 3 months