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 MyCashpot.com, 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 MyCashpot.com. 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 MyCashpot.com, you can help yourself by accessing our network of lenders.
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 getting 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. MyCashpot.com is not a lending operation and doesn't provide loans, but it does refer consumers to reputable professional lenders who can provide quick and convenient loan assistance. We don't charge fees for this service. MyCashpot.com does not have the ability tell you what the exact APR that your lender will charge is going to be. 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 details on the annual percentage rate, cash loan finance charges and other terms once you are redirected to the loan agreement during the process of requesting a cash advance loan. If you should require help with any MyCashpot.com–related services, you can contact us at your 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.
Example of a Cash Advance Loan APR Range
| APR | Amount | Period | Monthly | Total Paid |
|---|---|---|---|---|
| 6% | $4,000 | 24 mo | $177.28 | $4,254.78 |
| 15% | $4,000 | 24 mo | $193.95 | $4,654.72 |
| 25% | $4,000 | 24 mo | $213.49 | $5,123.67 |
| 36% | $4,000 | 24 mo | $236.19 | $5,668.55 |
Important Points to Consider
MyCashpot.com is partnered with professional lenders who provide potential borrowers with sufficiently detailed information concerning loan terms and conditions prior to their accepting any cash advance loan offer. We recommend that you closely view the terms of any loan offer you get. To get more details on these considerations you can view the Lending Policy and Rates & Fees sections of our website.
Financial Implications (Interest And Finance Charges)
If you get approved for a cash advance loan, the lender will show you the exact fees and interest rate associated with the loan before you formally agree to their offer. As mentioned earlier, MyCashpot.com is not a lending operation, so it therefore is unable to tell you what the exact fees and interest attached to your loan offer will be. Please know that you are never under obligation to accept the loan terms that a lender gives 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."