A 1 Cash Advance is a full-service payday loan company that operates with 8 branch locations in Indiana and with 2 stores in Tennessee.
Payday advance loans are small, short-term loans, that typically range
from $100 to $550, but these amounts may be capped by your state's laws.
The repayment is often scheduled so that the loan is repaid on your next payday.
As a small amount loan, these are financial instruments that fill a need not met by most traditional banks or other financial institutions.
And unlike in traditional bank loans, the cash advance loan application from A 1 has been made a fast and simple procedure.
According to their official website, to apply for a loan, all you need is a photo ID, a current bank statement, as well as proof of income.
To apply for a payday loan from A 1, you can do so either online or from one of their ten outlets.
Normally, the company can process these applications so rapidly, that it takes them only around 5-15 minutes to verify the loan application.
If your loan application is approved, the in-store loan process advances so that you write a personal check for the amount of loan, plus the advance fee.
The company will then hold onto the check until your next payday, and at that time, you'll pay off the debt in-store in person, or the firm sends your check to the bank for deposit.
If you've made the application online, however, the process is a bit different.
Online, you first fill out the application, and if approved, the funds will be electronically deposited into your bank account the next business day.
When the online payday loan repayment comes due, it will be debited electronically from your bank checking account.
Each customer can have only one outstanding payday loan from the company at a time, and once you've paid the loan back (and the check has cleared), you can apply for a new one.
Cash advances should be used for short-term financial needs only, not as a long-term financial solution.
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