Reasons to Consider a Cash Advance Loan
During these uncertain economic times, many people could use some financial assistance. This includes situations such as emergencies, home improvement, consolidating debt or even that dream family vacation. A cash advance loan is an option that might work for you. At 321Loans, we work to connect people with cash advance loans that might work for them.
Quick and Convenient Online Loans
Searching for a loan can often be a daunting and confusing task, especially given the wide array of available options. This is why we created 321Loans. Our service has been designed and optimized with the customer in mind. We work to offer you an innovative and user friendly experience.
Given that each individual lender is looking for a particular type of customer, many people end up getting turned down multiple times for any number of reasons.
Our proprietary technology is crafted to efficiently and quickly evaluate your loan request, and try to connect you with a lender that offers a loan that can work for you. This means that by submitting a loan request on 321Loans, you can help yourself by accessing our network of lenders and financial service providers.
With our simple three-step loan request process, you can find out if you qualify for the help you need.
To begin the process of requesting your cash advance loan, please visit our Get Started page.
APR – Interest Rates and Repayment Explained
The annual percentage rate (APR) is the annualized interest rate that you are charged on your cash advance loan. 321Loans is not a lender and doesn't provide loans, but it does refer consumers to lenders and financial service providers we work with who can provide quick and convenient loan assistance. We don't charge fees for this service. 321Loans does not have the ability to tell you the exact APR that your lender will charge. Annual percentage rates can vary based on not only the information that you supply in your initial loan request, but the information that your lender supplies to you as well.
Your lender will give you all the details on the annual percentage rate, cash loan finance charges and other terms on the loan agreement. If you require assistance with any 321Loans-related services, you can contact us at your earliest convenience.
The APR associated with cash advance loans can generally range from 6% to 36% percent depending on how it is calculated as well as other variables including any incurred fees (nonpayment, late payment charges, etc.), the term of the loan, and loan renewal options.
Important Points to Consider
321Loans works with a network of lenders and financial service providers who can provide potential borrowers with detailed information concerning loan terms and conditions prior to accepting any cash advance loan offer. We recommend that you review the terms of any loan offer you may receive. You can view the Responsible Lending Practices and Rates & Fees sections of our website for more information.
If you get approved for a cash advance loan, the lender will provide you with the exact fees and interest rate associated with the loan prior to you accepting their offer. As mentioned earlier, 321Loans is not a lender, so we cannot tell you what the exact fees and interest will be. Please note that you are never under any obligation to accept the loan terms that a lender offers you.
"If you receive a $5,000 36-month loan at an interest rate of 6.03% with a 1.11% origination fee of $55.50, you will receive a loan amount of $4,944.50 and will make 36 monthly payments of approximately $152.18 at a 6.78% APR."
"In the case of a $15,000 60-month loan at an interest rate of 7.90% with a 3.00% origination fee of $450.00, you will receive a loan amount of $14,550.00 and will make 60 monthly payments of approximately $303.43 at a 9.20% APR."
Accepting the terms and conditions for a loan offer essentially means that you agree to repay the loan with interest in the time specified in your loan agreement. If you aren't able to repay your loan in full or should you make a late payment, it is likely that supplemental charges could apply. 321Loans does not have the ability to predict what charges you will incur in the event of nonpayment, late payment or partial payment. In addition, we have no control or knowledge of the loan details between you and your lender.
Please review the partial payment, late payment and nonpayment policies that are detailed in your loan documents provided by your lender. 321Loans works with lenders and financial service providers that follow all applicable laws.
It is important for a borrower to understand that being late on a payment, missing a payment or rolling over a payment will all negatively impact their credit score. Your credit score is a numerical expression of your credit worthiness based on an analysis of your credit files. A credit score is primarily based on credit report information typically sourced from the credit reporting agencies. Failing to pay on time will negatively affect this score and make it harder for you to do things like take out a credit card or get a loan. While less than perfect credit will not necessarily prevent you from being able to receive a loan, all loans are subject to credit approval. 321Loans may do a "soft pull" of your credit information, which will not impact your credit score. Furthermore, the lender that you are connected with may run a credit check with one or more credit reporting agency. If you had many credit checks in a given period of time, then it is possible that this check may negatively affect your credit score.
As previously stated, 321Loans is not a lender, and we do not get involved in the process of debt collection. As part of the loan documents your lender will provide to you, you will find detailed information concerning their specific debt collection practices. If you are unsure of what those collection practices entail, we suggest that you contact the lender. 321Loans works with lenders and financial service providers that follow all applicable laws.
Prior to accepting a particular cash advance loan offer, you will be presented with various loan renewal options by your lender. Carefully look through the lender's loan renewal policy before you electronically sign loan documents of any type. Be aware of the fact that state regulations determine lenders' loan renewal policies to a significant extent.
Loans should not be used as a long-term financial solution. At 321Loans, we always encourage borrowers to repay their loan fully and by the time it is due so they can avoid fees such as late penalties and nonpayment penalties. If you think that you may experience difficulty paying back a loan after borrowing it, 321Loans advises you to closely examine different loan alternatives before you take the step of requesting loan assistance through us.