So, you are a little strapped for cash and are looking to get a quick and easy loan. Now what? Where do you go? Who do you ask? What documents do you need to gather? Do you need to find a fax machine? Should you make an appointment somewhere? Perhaps you need to buy some stamps? How much do stamps even cost these days? It can get rather confusing, especially if it is your first time.
The fact that you are taking a minute to read this is a great first step. First things first, do you even qualify? Why jump through a bunch of hoops just to get refused at the end of the application process. The main criteria for qualifying at iCASH.ca is your ability to repay the loan. This requires a minimum income of $800 per month. That amount can include any benefits you are receiving such as disability benefits or child tax credits. And while our automated system will run a credit check, it is definitely not the deciding factor in our loan approval.
Next step is to figure out exactly how much you need to borrow. A good tip when borrowing money is to never borrow more than you can afford to pay back, and never borrow more than you need. So how to figure out how much you need? iCASH.ca has a nifty little budget calculator that is simple to use and will calculate the exact amount that is needed for all of your bills and expenses. Check it out here: https://icash.ca/payday-loans-calculator
Great, so now that you have all the thinking and planning out of the way, it is time to start the payday loan application. What documents do you need to have with you to get started? The short answer is NOTHING. That being said, you do need to have your banking information readily available so, if you are like me and you still haven't memorized your account number, you will need to make sure you have that on hand. (Having a valid bank account is a prerequisite to being approved for an online loan).
The actual online application process is quick and simple. It can be completed either online or through the new iCASH.ca APP for iOS. The entire process should not take more than a couple of minutes. There are no fees for this application and any online lender who does charge fees at this step in the process should be avoided.
The next to last step in the process is the difficult part – the waiting. Remember the days when you would apply for a loan and have to wait days, sometimes weeks, to receive a response on whether or not you were approved? Thank goodness those days are behind us! The wait time for obtaining a decision on your loan is now literally minutes. The innovative technology allows for almost instantaneous approvals. And I think we can all agree that this step is actually the most painful so we can actually say that the worst is now behind us!
The final step in the payday loan process is to simply sign the contract. Fortunately, that does not mean actually printing a contract, signing it, and mailing it back to us! All we need is your electronic signature and your etransferred funds can literally hit your account minutes after iCASH receives your signed contract. How awesome is that!
We understand that needing emergency funds is hard as it is. We hope that this brief explanatory blog was able to better equip you with the knowledge on how to make the process just a little bit easier! As always, do not hesitate to reach out with any questions! Our team of Customer Experience Advisors are happy to help you out!