A cash loan is a mutual agreement in which the borrower receives an amount of money from the lender and is obligated to repay it at a later time – interest and fees apply. Although there are a few types of them – such as home loans and car loans, Cashburst are only offering short-term personal advances.
There are different sub-types of them, and you might have heard the following phrases: unsecured cash loans, bad credit cash loans, etc. but what are the meanings behind all these words?
Sometimes, when you are taking out a secured cash loan, you are tying up your assets to it, which means your belongings could be at risk if you default.
If you have no considerable assets, such as a house or a car, you will probably not be able to get a secured loan. So if you need a little extra cash but don’t want to compromise your valuable assets by tying them to the loan, you might consider taking out an unsecured loan.
Bad credit cash loans can be applied for by someone with a less-than-perfect credit score. If you have had credit issues – such as defaults, collections or judgements in the past, you may still be able to get a hold of extra funds when you require them. Cashburst may be able to help – but only if you are not currently bankrupt and if you can afford the loan repayments.
You can read more information in our FAQ section or simply go through the application form. If you continue, the loan documents will be generated and emailed to you. Read through them to make sure that you understand everything and please ensure that you can afford the repayments – if you wish to go ahead, simply send in the requested supporting documentation to us so that we can review your application.