Banks are Struggling to Lend. Cash Advances Become More Popular

Cash Advances are quick

Cash advances are being relied upon by consumers as they try to make it through their monthly bills. A cash advance can pay for overwhelming debt or an emergency bill because it is quick and easy. Most lending companies for these types of loans make the application process as simple as possible. If you are employed, are over 18 and have an active bank account, you can apply for the loan. The lender will look into approval and calculate ho w much you are eligible to receive. If a company ultimately approves you, your funds are deposited into your account within 48 hours, sometimes sooner.

Why not banks?

The simplicity of this type of loan is gaining momentum because normal lenders are no longer available to Americans. The recent bailout is proof that the economy is suffering and it's estimated to be over a year before citizens feel some relief from the pressure.

The condition of U.S. banks

It's been a year since U.S. banks first began having major financial issues. This year profits have been growing, which is good news, however analysts caution that it isn't completely indicative of an economy that is out of hot water. A lot of the "ups" of the banking economy translate to banks suffering the "smallest losses" they have experienced in months. So while they are doing better, they still aren't performing at the same level they were in prior years. ... click here to read the rest of the article titled "Banks are Struggling to Lend. Cash Advances Become More Popular"