What Are the Advantages of Short-Term Cash Loans?


A prediction at the beginning of 2023 declared that the financial crisis in Canada would only worsen. This has sadly turned out to be true, and many hardworking Canadians, such as yourself, are struggling to make ends meet. At times like these, you’ve probably wondered if you should ever take a loan to cover any financial burdens.

But what about applying for short-term cash loans? Are there any major advantages to them?

Here’s what you should know:

How Short-Term Cash Loans Work

With these cash loans, you’ll get a small amount of money meant to cover a simple financial debt or emergency.

Application forms are much shorter for these loans. On top of that, services such as Kingcash offer fast loans in Canada.

You’ll most likely receive your loan on the same day or within 24 hours of applying.

These fast loans also have a shorter timeframe for paying back your loan. You’ll also have lower interest rates, so it’s less of a burden when it comes to paying back the loan.

It’s also great if you can’t get a credit score report or if you have a weak credit score. If you take these cash loans and you pay them back on time, you’ll improve your credit score in the long run.

Now let’s look at a few more advantages and why you should consider opting for these loans.

It’s Truly Fast Cash

As we alluded to in the previous section, you can receive a cash loan much faster than a traditional loan. Kingcash.ca focuses on granting loans as fast as possible.

Our application process shouldn’t take more than ten minutes maximum to complete. Once you complete the application, it won’t take long to hear a response from us.

In most cases, we’ll take a maximum of one business day to approve or reject your application.

What happens if we approve your application? If you complete your application by 14:30 EST, we’ll deposit your cash immediately. Otherwise, it’ll take no longer than 24 hours to receive your money.

You will receive your loan via instant deposit or direct deposit. If you renew a loan, you’ll have the additional option of receiving your loan via electronic transfer.

With your first loan, you can request $500. If you renew your loan, you can request a larger amount.

You can pay off your loan in installments and choose periods of three, six, nine, and twelve months.

The Requirements Are Easier

Why haven’t you applied for a loan before? It’s because the process is stressful, and the requirements are so vast that it’s not worth the effort.

However, you won’t have to stress when you apply for a short-term cash loan with Kingcash.ca. 

Our process is much more straightforward, and the requirements aren’t as subjective as traditional loan providers.

You must be a Canadian citizen to apply for a cash loan. You must also be at least 18 years old. You won’t have to provide a credit score report.

Rather, you’ll just have to show proof of earning at least $1,200 for a period of three months to your Canadian bank amount.

You can view our website to learn more about the full requirements. You’ll find that, in most cases, you’ll qualify without having to do anything extra!

More Flexibility

So far, the advantages you’ve read about regarding short-term cash loans are great. Yet, there are still so many more advantages than just these.

For example, you won’t be able to defer your loan’s first and last payments.

However, you can defer the payments in between as long as you don’t defer two consecutive payments.

If you miss a payment, you’ll have to pay a small penalty fee known as an NSF. However, there is a five-day grace period to make the payment to avoid the fee.

But what happens if you lose your job or another emergency comes up? What happens if you need to postpone your loan payments?

With most traditional loan providers, this is a nightmare you don’t want to dream of!

However, with short-term cash loans, you can postpone your payment requirements if needed.

You’ll have to prove why you can’t work. This can include temporary job loss, medical emergencies, and much more. You can postpone your payments with Kingcash.ca for up to six weeks.

If six weeks is still not enough, you can contact us, and we might be able to extend it further if needed.

Best Practices

Before applying for a loan with Kingcash.ca, you must prepare for any potential issues. 

As stated earlier, paying off a short-term cash loan is much easier than other loans. However, if you don’t pay your loans off on time or delay many payments, this can affect your credit score.

Additionally, it’ll make it harder for you to renew your loan or apply for another one.

Make sure you plan on how you’ll pay off your loan as soon as possible.

You must also choose the ideal period to pay off your loan. You might want to pay off your loan in three months, but you may find it safer to choose the six-month option.

You can’t use employment insurance as proof of income for your first loan. However, if you’re applying for a new loan with Kingcash, you can consider using it if you can’t show proof of your actual income.

Contact us if you have any questions before applying for your loan. We’ll be glad to answer any questions via email or phone to put you at ease.

Get Your Cash Loans

Now you know the benefits of cash loans and how they can help you pay off a quick debt.

The requirements to receive a cash loan are much easier compared to most traditional loans. You also have greater flexibility to pay off your loans.

You also want to follow our best practices before you apply for a loan. Make sure you don’t defer payments too often. In the long run, this can hurt your credit score.

Are you ready to get your cash loan? Visit our website and apply for a cash loan!

Get a cash loan from the comfort of your home.

Easy-to-use money lending services for quick and instant $500 - $750 loans in Canada.

This might interest you