Cash advance loans, also known as payday loans, are short-term, money lending contracts designed to help out financially in between paychecks when some sort of emergency occurs and you don’t have the cash floating around. These cash advance loans are usually under $1,000, and are paid in full when the borrower receives their next payroll or government issued check.

Your eligible borrowing amount differs greatly from traditional lending institutions. Instead of pulling your credit to decide how much cash you can borrow, cash advance lenders base their decision on the stability of your job and the paycheck that accompanies it. Many such lenders will consider giving you more cash upfront if your paycheck is directly deposited into your checking account by your employer.

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These types of paycheck advance loans can come in quite handy to many living paycheck to paycheck. For instance, say that the brakes went out on your car and you don’t receive your paycheck until next Thursday (when you are certain to have the extra cash). By getting a cash advance, you can have your brakes fixed without the worry of losing a few days pay, or worse--your job!

One way that Houston cash advance lenders grant such a loan is with the borrower writing a post-dated, personal check to the lender for the full loan amount, plus all applicable fees. When the loan comes due, typically in two weeks, the lender simply deposits the check, and keeps the fees.

Texas Small Loan Laws have been put in place to protect both borrowers and lenders within the payday loan industry:

Loan is to be written for 7-31 days.
Fees cannot be more than 48% APR, plus a $10 monthly fee.
No rollovers or refinancing permitted (repaying one cash advance with another).

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* Cash-Advance-USA.org provides information and research on cash advances/payday loans. We are not a payday lender or broker, nor are we necessarily affiliated with the companies profiled on this site. Not all products and services are available in each state.