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There are times when you need money fast. Online cash advances, also known as payday loans, are high interest and short term. These need to be paid back by the next salary payday of the borrower. Thanks to the Internet, these financial transactions can now be done online. A direct deposit is sent to the borrowers account after satisfying certain criteria.

Payday loans have varying annual percentage rates. Due to their nature, some states set a limit on the maximum interest that may be charged with these. Some states even ban same day loans. Because of the high cost of borrowing, you should only use these services when you need money fast.

When your credit card is maxed out and you need cash try asking your bank first. If that does not go well, then try to pawn an item of yours. Only after these have failed should you consider a payday loan. Below are some situations when you should get such an advance.

The primary reason for borrow money fast should be medical reasons. People who have no health insurance may need money. If there aren't any free health care services in your area, then borrow. Naturally, it is also useful if your family members are the ones in medical need. Also, consider generic medicine brands, which are just as effective and safe as the original.

A storm or hurricane just destroyed your rooftop. Natural disasters or fortuitous events that destroy your properties may require you to borrow funds. Check if your insurance covers your home. Also see if you can do the repairs yourself by going to your local hardware store.

Natural disasters such as floods may devastate an area. Relief goods can take time, and may not be enough for large families. Your parents and siblings should be your first alternative. You can borrow funds to get plane tickets, transportation money to get to them. Alternatively, you could buy food until they arrive to help you out. As long as the need is dire, online cash advances are practical.