Why Would You Need a Second Payday Loan?
If a cash loan is exactly what you wanted, then why would you need a second payday loan? The answer is simple; people search for possibilities of a second payday loan because they do not get sufficient monetary relief by the first. The primary reason for this is applying to wrong lenders who do not fund higher amounts of cash. When you need something like $800, getting financed $500 does not help.
Especially, if you are applying through a third party lender, you do not know which lender is financing you until you get a match. In that situation, the lender applies strict qualification formula and you do not get what you request. On the other hand, some direct lender that you can apply to directly focus on credit rating and income level, and there you might be losing your chances by having a bad credit score. In this case, some lenders do not provide adequate cash either. That’s why people want to avail extra cash with another small loan.
Where Can One Get a Second Loan Having Already One?
First of all, the interest rates of small cash loans from such lending predators are quite high with very short terms. If you take out two loans, it will be a troubling scene for your credit status. However, if you have a stable and high income level, then you have the option (although not desirable) to apply to a different lender.
Otherwise, if you want a holistic solution to your cash crunch, apply for a funding option where a second loan is not required. Yes, even with a bad credit score and low income level you can avail an installment loan from CashAmericaToday. We fund you cash up to $1,000 on the same day of your online application so that you do not have to think of a second payday loan. Apply now for best interest rates!