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Sep 28, 2017 - 34 minute read

What happens when you dont pay a cash advance back

Qualifying requires a minimum 50,000 annual revenue and three months in business. If you have unpaid customer invoices, Fundbox also offers invoice financing. Theres no credit check or minimum annual revenue requirements, but you must use online accounting software that can link to Fundbox, such as QuickBooks, FreshBooks or Harvest.

Fundbox provides an unsecured cash advance - no collateral or personal guarantee required - for up to 100 of the value of your invoices. Funding typically comes through in one to three business days. After receiving the cash advance, youll repay it in 12 or 24 equal weekly installments, plus a fee.

If your customer pays you before then, you can repay the advance in full to save on fees, with no penalties.

What happens when you dont pay a cash advance back

Loans on the lower end of the APR range may be for a larger loan amount and for a longer term. Loans on the higher end of the APR range may be for a smaller loan amount and for a shorter term. Depending on your credit needs and desire to pay your loan off quickly, your lender may only offer you loans with an APR near the high end of the range noted above.

This is an expensive form of credit. A short term loan should be used for short term financial needs only, not as a long term financial solution. Customers with credit difficulties should seek credit counseling or meet with a nonprofit financial counseling service in their community.

You are encouraged to consult your states consumer information pages to learn more about the risks involved with cash advances. State laws and regulations may be applicable to your payday loan. If you do not pay your what happens when you dont pay a cash advance back according to its terms, your lender may: charge you late fees, send your account to a collection agency, report your information to a consumer reporting agency which may negatively affect your credit score, offer to renew, extend or refinance your loan, which may cause you to incur additional fees, charges and interest.

What happens when you dont pay a cash advance back

You can use your computer, smartphone or tablet. It only takes 5 mins. We check confirm. We do a quick check on the information you have submitted to make sure were lending you the right amount and it meets your needs. You are approved. E-sign documents to accept your loan offer and get cash directly deposited in as soon as the next business day. Loans for Any Reason. The need for extra money can arise at just about any time.

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