In essence, a payday loan is an instant cash advance against your next pay check. Imagine you need a loan, pay day is still weeks away, what can you do? Fast cash loans might be a short term answer in the form of advance pay day loans. You can apply for a payday loan online and get a fast cash advance very quickly in Sweden. No credit check is usually performed and generally clients receive their pay day advance within 1 day. Loans generally have a short term of up to three weeks, and you pay a fee for the benefit of being able to borrow relatively small lump sums for this short term period.
However there are number of different loans that you can choose from. If you are confused and don’t know quite which loan would be best for your situation, there are online financial portals in Sweden where you can find all the information you need about different types of loans and find the Sveriges bästa låneförmedlare.
So, why would people choose to take out a cash payday advance loan? Imagine a scenario where you have no savings and a sudden expense crops up, for example you need to pay for emergency dental treatment. In the best case scenario no interest loans would be the best solution, from a friend, family member, charity etc but not everyone has this luxury at their disposal. Another option might be to get a cash advance on your credit card instead of loans. Cash advances on a credit card usually incur a fee, and interest is charged from the transaction until the debt is repaid. This option may be a good solution for a short term fix, but not everyone is able to get a credit card due to bad credit loan history. You could approach a bank or cash advance company for a loan, but due to credit rating, your application might not always be approved and the procedure might take longer than you have have in order to come up with the cash.