There are many reasons why different people may opt to apply for a cash advance in Auckland. Personal emergencies, unforeseen expenses, and financial issues are some of the most common reasons. When you’re in one of these situations, the last thing you want to encounter is a barrage of questions that you may not have satisfactory answers to. However, cash advances are a risky business for lenders, too, so there are a few questions we need to ask ourselves before approaching a lender.

It’s not nearly as invasive as it would be for a big loan, but you might need to get your thoughts together before you apply. Here are some questions you can expect lenders to ask before they consider your cash advance application.

#1: How Much Money Would You Like to Borrow from Us?

The most important thing is for you to be clear on how much money you need. Applying for a cash advance when you’re not sure how much you need can be dangerous, as you may end up taking on too little or too much. Remember that a cash advance is ideal for closing specific financial gaps.

#2: What Do You Need the Money For?

Not every short-term lender will ask this, but some may want to know what you intend to use the money for. While your lender can’t control how you use the money you borrow from them, be careful not to spend it frivolously, as this will cost you more than the actual debt itself.

#3: How Much Time Do You Need to Repay the Cash Advance?

The amount of time you need to repay a loan influences the amount of interest you pay in the long run. Go for a repayment plan that’s as short as possible within your scope of ability to make repayments.

#4: Do You Have Any Items or Property That You Can Use as Collateral?

You may need to sign up something you own as collateral so that the lender has the reassurance that you’ll repay them. Be careful not to leave out relevant documents or anything of that nature.

If you’ve knocked on a few doors to no avail, a cash advance from an Auckland lender may be your best bet. It’s frustrating not getting the help you need, but this doesn’t have to be the case for you. At Acorn Finance, we understand that tough times can befall us all. That’s why we offer financial products that can help you out of a fix when you need it most. Give us a call and see how we can assist you.