Man calculating a loan

Life can be hard to predict sometimes. You never know what is around the next corner.

This is particularly true when it comes to your finances. One day you may be on top of them, and on others, something might crop up that will end up costing you dearly. 

Financial problems could come from a broken-down car or a medical bill. They may be quite unexpected. Taking out fast loans are one of the ways that you can get back on top of your finances quickly. 

But how are online loans used and how much can you borrow? Captain Cash has a loan calculator that can help you. 

In this article, we’ll look at cash loans and discuss how to use the calculator for loans. 

What is an Online Loan?

An online loan could refer to any type of loan that you apply for over the internet. You’ll be able to pay back the loan over a fixed amount of time with a set number of payments. 

This type of borrowing is different from revolving credit such as you’d get with credit cards which would allow you to keep borrowing and repaying your debt. 

When you take out your online loan, you’ll need to meet a repayment schedule which will be specified. This might mean making weekly, bi-weekly, or monthly repayments to your debt. 

Online loans can be taken out for a wide range of purposes. The amount that you can borrow will be up to $750, and the repayment terms will be determined by the amount that you borrow. 

With other loans, your credit score will also affect the level of interest and as such, amount that you need to repay. With loans through Captain Cash, there are no credit checks.

This means that you won’t have to worry about your credit score dragging your loan down.

Before taking out any type of online loan, you should always make sure that you have the means to make the repayments. 

What Can You Use Online Loans For?

A great thing about fast online loans is that you can use them for most things. An online loan can be approved within minutes, and you’ll get the money straight away. There is no waiting around to find out whether you’re eligible to borrow the money or to have the loan given to you.

This type of fast loan is great for covering spending in an emergency. The type of spending that you may use this type of cash loan for include: 

  • Covering medical bills
  • Improving your credit score
  • Paying for repairs to your vehicle
  • Repaying utility bills and other overdue debts

If you are looking to buy a large, expensive item with your fast cash loan, then you might want to think about a different form of credit as these are designed for short term lending. 

What are the Benefits of Fast Loans?

There are lots of great benefits to taking out an installment loan. Firstly, fast loans tend to have a very quick and easy application process. Very often, you can complete the entire form in a matter of minutes. 

Next up, you can choose when you’d like to repay your loan. You could either choose to pay an installment every week, fortnight, twice a month, or every month. 

There is a range of different amounts that you can borrow. Loan amounts range from $500 up to $750. 

Payment of the loan is very quick. You could even get the requested amount on the same day if you apply before 2:30 pm. This means that you’ll be able to put the money to use immediately. 

Another huge benefit of this type of cash loan is that it is not just restricted to those with excellent credit scores like some loans are. Because there is no credit check involved in this process, you can still borrow. 

In fact, many people take this type of loan out with a view of improving their credit score

If you decide that you need to borrow more money at any point, you could always renew your loan and get extra cash when you need it the most. 

What is a Loan Calculator? 

A loan calculator, like the one available at Captain Cash, will let you know how much you will be eligible to borrow. 

The loan calculator will provide you with a range of different lending options and will tell how much you will need to repay either weekly, every other week, twice a month, or once a month. 

For instance, you could borrow $500 and either repay $63 each week, or $252 each month. 

When taking out a loan, make sure that you select the payment terms that suit you best. If you get paid monthly, select to make monthly installments, whereas if you have a weekly income, then this option will be best for you. 

What Do You Need to Consider Before Taking Out a Loan?

Before you take out a loan, you’ll need to be able to prove that you’re in employment and have been there for at least three months. 

You need to be sure that you can make the repayments as often as you’ve said you would make them. 

Apply For Your Loan Online Today

Because online loans are easy to apply for, you could have your money very quickly. There is no need to worry about a credit check holding you back or slowing you down. 

Check out the Captain Cash loan calculator today and apply today. Loan applications received by 2:30 pm will receive payments the same day. 

Get in touch today to find out more information.