Cash loans are usually unsecured, which of course means that the loan is not secured against an asset, like for example your car or home.

There are, of course different types of cash loans available, but the most common types are short-term and long-term cash loans.

Each loan provider also has their own terms and conditions which is applicable when lending you the money – eg. when the repayment amount is every month, the interest rate they ask, the time period you have to repay the loan etc.

I have bad credit, can I still apply?

If you have a bad credit record, you will mostly have your loan applications rejected. The good news is that, there ARE licensed lenders that specifically tailor loans for blacklisted people. They are called blacklisted loans – these loans will get you back up on your feet, and help you to become debt-free.

There are a few reasons why people apply for a loan, the most common one being if you want to purchase something really big, like buying a car or even a house.

If you are studying, you might even consider getting a student loan to help you get through school / college.

Another loan that many people make use of is a payday loan. A payday loan can be seen as a small short-term loan and are often referred to as a cash advance.

Advantages vs Disadvantages of cash loans


  • It is easy and fast to apply for loans, even if you have bad credit.
  • Loans help you to afford an expensive purchase.
  • If you have a business or want to start one up, you can get the funding you need through a loan.
  • A great advantage with payday loans is that you will have the money the same day as you apply.


  • Some cash loans can have very high interest rates.
  • Payday loans are short-term.
  • If you miss payments, it could reflect negatively on your credit score.

When you are having financial difficulties, loans can be very helpful.

Just remember that a loan is still a form of debt. It can even be seen by some as a commitment, so you should be 100% sure if you are considering getting a cash loan.

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