What's a Cash Advance?
Regardless of what you call it, a cash advance is really a small, unsecured loan that is used to help out someone’s financial emergency until they get paid again.
A cash advance can be for anything from unexpected car repairs to a power bill. In some ways, it’s a cash advance is like a credit card that might be able to help a borrower wiggle out of a tight financial position.
Why Does Anyone Need a Cash Advance?
Basically, the reason anyone needs a cash advance is they’ve run out of money before the next money deposit is due in their bank account, either from their employer or other income source. Usually this is due to unexpected emergency expenses.
There are a number of options to consider before applying for a loan, for example, asking family and friends for help. This may be awkward, but worthwhile if it helps avoiding a loan that will inevitably charge interest. But if friends or family isn't an option, and then a payday advance may be the next best option.
The question is, how do you find a lender you can feel confident about? Cash Relief is a trading name of Acorn Finance who is an independent, New Zealand owned and operated lender, registered with the NZ Government. We’ve been here since 2004 and have helped thousands of New Zealanders.
Can Anyone in NZ Apply for a Cash Advances?
Anyone in New Zealand can apply for a loan from Cash Relief, but they must be eligible based on the following criteria
• You must be earning at least $450 per week after tax from paid employment
• Your pay must show in your bank account with your employer’s name
• You need to live in New Zealand
• You must be at least 18 years old
• You must have an active email account
• You need to have a mobile phone so we can communicate by text and phone
Is a Cash Advances Right For You?
Are you looking for payday loans NZ? A quick search online shows there are lots on lenders advertising quick loans or fast cash but what does this really mean?
At Cash Relief we try to be quick, but we won’t take any short cuts simply for the sake of speed. For both your benefit and ours, we need to be sure the loan is right for you. It’s easy enough to quickly approve a loan application, but if it’s not the in your best interests at that time, it’s better to wait.
If a customer application is approved, the funds are usually transferred to the customer's bank account within 10 minutes after approval if they request Express Payment.
If you choose to apply for a loan, we ask some personal and work-related questions in the application form. We also require proof of ID and proof of your income and expenses which is provided in the bank statements we request. After your application is submitted, we review the information and make a decision, typically within 30 minutes during business hours.
Overcoming Emergencies with a Cash Advance in NZ
Finding yourself without cash in the face of sudden, emergency expenses is a frightening experience, especially when you don’t have enough money on hand. And it can be even more difficult if you have been trying to improve a bad credit rating.
At Cash Relief, we exist to help people who are these types of financial situations and have created products that allow customers to build a loan that suits their needs.
One good thing about Cash Relief is the flexible repayment options for our customers. We provide customers of cash loans with the choice of 1 to 6 weekly, 1 to 3 fortnights or 1 monthly payment, depending on how often you are paid.