Typical cash advance online loans require you to submit a simple application. If the lender approves it, you can receive the money in your bank account or via a check as soon as the next business day.

You can apply for a cash advance even if you have a poor credit history, payday loans MI but remember you will still have to meet the eligibility criteria set by the lender and the laws of your state.The Consumer Financial Protection Bureau (CFPB) no longer requires lenders to consider your ability to repay a loan. This could put you at risk of getting caught in a cycle of debt. Carefully review your finances and the loan cost to make sure it fits your budget.

Before you take out a short-term loan

Payday loans, installment loans and auto title loans come with high rates and fees which can trap you in a cycle of debt. Borrowers may find themselves taking out a second or third loan because they couldn’t pay back the first one on time.

Consider alternatives before opting for a short-term loan:

Local resources. Government agencies, nonprofits and local charities often offer free financial services and help with food, utilities and rent for those in need.
Payment extensions. Talk with your bill providers about a longer payment plan or extension on your due date if you’re behind on payments.
Side jobs. Today’s digital marketplace offers the ability to more easily sell unwanted items, sign up for food delivery or drive for rideshare services.