$700 Payday Loans
Before you apply, check the pros and cons to make sure that this loan offer is right for you.
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About 700 Dollar Loan
$ 700 Loan is a type of financing that allows borrowers with bad credit to obtain financing to deal with an emergency. Since Payday Loans are short-term, you need to repay the loan within 30 days. Also, the loan is unsecured, so you do not need to provide collateral in order to get approval.
Often, payday lenders approve applications without a traditional credit check, as income is the main factor in obtaining financing.
How does a 700 Dollar Loan work?
700 Dollar Loan is as simple as possible. You can apply both online and at the lender’s store. However, the fastest and most convenient financing option is the online form. Learn the basic steps to get money:
- Submit your application. Before doing this, you should compare the interest rates and credit conditions of different lenders in order to choose the most advantageous offer. After visiting the lender’s website, you will need to fill out a simple online form and provide name, address, and income information.
- Get approval. You are guaranteed to receive a response to your application on the same day you submitted it. As a rule, lenders approve the application within a few minutes. The lender will contact you to discuss the terms of the loan.
- Get money. After signing the contract, you will be able to receive funding. The money will be transferred to your bank account within one business day.
Is it worth applying for a $ 700 Loan?
A Payday Loan is an expensive financing option, so make sure you have tried all the other options before applying. You will have to pay between $ 15 and $ 30 for every $ 100 borrowed. Examine the loan amount and overpayment with different fees:
| Loan Amount, $ | Fee, $ | Total Loan Cost, $ | Overpayment, $ |
| 700 | 15 | 805 | 105 |
| 700 | 20 | 840 | 140 |
| 700 | 25 | 875 | 175 |
| 700 | 30 | 910 | 210 |
As you can see, you have to face extremely high fees. Make sure you can repay the loan on the day of your next paycheck.
What are the advantages and disadvantages of a 700 Dollar Loan?
| Advantages | Disadvantages |
| Online application. You no longer need to go to the lender’s store to get a loan | High fees. You will have to pay from $ 15 to $ 30 dollars for every $ 100 borrowed |
| Instant approval. Payday Loans are approved within minutes | Short terms of payment. The debt must be paid within 30 days |
| Convenient payments. The money will be transferred to your bank account within one business day | Late payment penalty. If you miss your loan payments, you will have to face high fees and commissions |
| Bad credit is not a problem. Even if you had problems repaying loans in the past, now you can get financing | |
| There is no collateral. You do not need to provide collateral in order to receive a $ 700 Loan |
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