How Do You Qualify for an Immediate Cash Loan?


Quick Answer

Eligibility requirements for immediate cash loans differ by lender; for instance, CashNetUSA requires prospective borrowers to have been working for a minimum of one month, while SonicCash requires potential applicants to have jobs and monthly incomes of at least $800, state their websites. In line with many other similar lenders, the two firms only offer loans to individuals who are over 18 years and legal residents or citizens of the United States.

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Full Answer

Prospective borrowers can determine the maximum amount of money they can qualify for at SonicCash by completing the relevant form on the firm's online portal, explains its website. Some of the factors that the company considers when determining the maximum loan size that applicants can qualify for include current employment status and take-home income range. Individuals with bad credit can also qualify for loans, although they have to meet certain other requirements.

Once lenders approve a loan, the funds can be available as soon as the next business day, notes SonicCash. However, the process can take longer for applicants who have to provide additional documentation or other extra information, notes CashNetUSA. Prospective borrowers should always be prepared for this eventuality.

To expedite the loan application process and increase the possibility of getting funds on the succeeding business day, CashNetUSA advises its clients to submit their applications before 9 p.m. Central Time between Monday and Thursday, or prior to 7 p.m. Central Time on weekends.

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