Cash / Payday - Cash Loan

100 - 10 000
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Getting a cash loan for a small amount of money such as a few hundred dollars is very easy. There are lots of online lenders and local check cashing and pawn shops that will make such loans.

Taking out a large cash loan can be much harder because most cash lenders specialize in loaning small amounts of money. Indeed many lenders won’t make large cash loans because of the risks involved.

Fortunately there are lenders that make large cash loans but they can be harder to find and do business with. Locating these lenders and making contact with them is fairly easy if a person knows where to look.

How to Find a Large Cash Loan

The average person will probably have to look online if they are seeking a large cash loan. There are many online lenders that specialize in making large cash loans which are usually called cash advances or hard money loans.

Hard money lenders are private usually non bank members that lend “hard money” large amounts of cash. They charge very high interest rates and expect a quick repayment of their loans. A big advantage to dealing with hard money lenders is that they often require little or no paperwork and can make money available very quickly. Unfortunately many hard money lenders will only loan money to businesses.

A business owner will usually have an easier time getting a large cash loan but individuals can get such loans to. The best way to locate a hard money lender is to type the term “hard money lender” into a search engine. This should provide a borrower with a list of such lenders that operate in his or her area.

Requirements for a Large Cash Loan

The main requirement that hard money lenders will ask for is that the borrower prove they have the income or potential income to repay the large cash loan. The hard money lender may ask for proof of this income in the form of bank statements or business receipts.

Once such proof has been provided the lender will probably electronically deposit the funds borrowed into the borrower’s bank account. This means that a person will have to have a bank account in order to get a large cash loan.

Almost no lender keeps large amounts of cash involved because of the hassle and risks involved. Counting and sorting the cash takes money and the presence of large amounts of cash can attract armed robbers. This means that almost all large cash loans involve electronic funds transfer.

Other Types of Large Cash Loans

Some hard money lenders will require collateral for a large cash loan. Private equity lenders will make large cash loans in exchange for a stake in a business or equity or equity in real estate.

Other lenders called factors will lend money to business if inventory, real estate, or accounts receivable is put up as collateral. Some factors will lend a business money if the business owner gives them the right to collect funds directly from the business’s customers.

Large cash loans are available but they take time and effort to get.