A no credit check easy cash loan is regularly sought to help with a financial emergency. The absence of credit scoring means that this type of short term loan is suitable for those with a very poor credit history. The lending criteria for an easy cash advance is vastly different to a traditional bank loan. Rather than assessing the borrower’s repayment history, the lender checks to ensure that the customer can afford to clear the debt and/or recover their money in the event of default.

Where to Apply for an Easy Cash Loan

Borrowing money with bad credit can be very difficult, but payday lenders, pawn shops and credit unions specialise in helping those who the banks are no longer prepared to assist. The lending criteria do vary considerably. Those who aren’t eligible for a payday advance loan may find that they are able to get approval for a pawnbroker loan.

A Bad Credit Loan from a Pawnbroker

Whilst payday lenders offer unsecured loans, pawnbrokers lend money more liberally due to the provision of collateral. Provided that the borrower is able to provide an item of value (gold, silver or jewelry), he/she will be eligible for a pawn shop loan. The items value will be assessed and an easy cash loan will be provided on the basis of this valuation. If a borrower doesn’t redeem the item (by clearing the short term loan and any interest that has accrued), the item will eventually be sold.

No Credit Check Payday Advance Loans

It may be possible to get an unsecured cash loan from a payday lender. It typically costs $20 to $25 to borrow $100 for a calendar month. The borrower must be a U.S. citizen, 18-years of age and in full-time employment. They will also need a valid checking account and be able to provide at least 2 forms of identification (one of which must be photo ID). Provided that the application is received prior to 2.30 PM, a payday advance loan will reach the borrower’s bank account on the same working day.

Short Term Loan from a Credit Union

In order to get an easy cash loan from a credit union, it is necessary to be a member. People are able to join on a number of different grounds, such as locality, vocation and religion. Although working purely for the interests of their members, the cost of a credit union loan is about the same as a payday advance loan. However, in the event of financial difficulties, a credit union is far more likely to show sympathy than a payday lender. The only obstacle borrowers face is the time period it takes to become a member.