Recent Blog Posts in June 2010

On June 24^th in Washington D.C., it has been revealed that the Federal Deposit Insurance Corporation's (FDIC) Advisory Committee on Economic Inclusion will discuss their pilot program.  The meeting is public and will touch base on the results of the program that offered small dollar loans.

The small dollar loan program was a two year study that was conducted to see if financial institutions could offer short term cash loans in place of payday loans or overdraft-programs that have hefty fees.  28 banks participated in the pilot program and had assets ranging from $28 million to $10 billion.  They offered small dollar loans up to $2,500 with an annual interest rate no less than 36% with a repayment period of at least 90 days.

According to the FDIC, outside sources say that a total of $40 billion is issued annually in payday loans.  Additionally, there is $38 billion worth of overdraft fees incurred each year in the United States.

If you are in need of an immediate cash loan, get the money you need fast by applying for a loan online!

If you are thinking about applying for a cash loan, you should remember these three things before you fill out an application:

1)  Requirements.  In order to obtain a cash loan from a lender, you need to be at least 18 years of age.  With most lenders, you will also need to show two forms of identification and prove you have a checking account with a bank. 

2)  Interest.  Like all loans, cash loans incur interest over time.  For this reason, before you obtain a cash loan to pay for your rent or make car repairs, make sure you understand that you will be responsible for paying accrued interest. 

3)  Time.  Usually, once you have been approved for a cash loan, money is transferred into your bank account within one business day.  Just as money is transferred quickly, you also should pay back your cash loan as soon as possible.  This will help you avoid additional interest.

Are you in need of a quick and easy cash loan?  With ConnectedCommunities, you can apply for a cash loan online and get the money you need fast!

Recently, USA Today released a compelling study which states that the percentage of American's income derived from paychecks fell to the lowest numbers in U.S. history.  According to the study, the personal income derived from employer paychecks was at 44.6% in December of 2007.  Now, the percentage has dropped to 41.9% in 2010. 

With the decrease in personal income and unemployment rates being at an all-time high, more and more Americans are choosing to seek cash loans to make ends meet.  A cash loan is a short term loan that is meant to provide people with the monetary fund they need quickly.  People who obtain these types of loans can then pay back lenders when they receive their next paychecks from their employers.  When people find that they are facing financial hardships, a cash loan can be a real life saver.

If you are currently contending with financial difficulties and would like to secure a cash loan, apply for a loan online and get the cash you need now.