The Difference Between Payday Loans and Cash Advances on Collateral
Payday loans or payday advances are unsecured loans and there is no collateral and usually no credit check required for approval. Payday loans are granted based on your income and are designed to be paid back on a specified date that corresponds to your pay dates. The term cash advance is at times synonymous for payday loan, which refers to an advance on your paycheck. This can often land people behind the eight ball.
At Gems N’ Loans in Oceanside, we are offering collateral loans with interests rates as low as 2%. Perhaps you have an item of value that you are no longer using and could save your self the entrapment of a payday loan. The collateral loan business is much more forgiving and really can be a great alternative for fast cash.
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