It’s impossible to do much in the modern world without money. That’s why regular cash flow is so vital. If all your money is tied up, or you find yourself living from payday to payday, if something unexpected pops up that you weren’t counting on, your cash flow can make a real dent.


If you get stuck and need money fast, then you might want to look into the same day loan from an independent lender. Not one of the big banks, as they don’t usually do same day loans, but smaller lenders like Sunshine Loans and others. If you need up to a few thousand dollars to get you out of trouble or to pay for car repairs or home repairs, then a small same day loan will likely be perfect.


Let’s look at 6 key reasons why you should seriously consider the same day loan.


#1 – You Can Get the Money the Same Day


Sounds obvious, right, but it’s true. Make your application for a loan early enough in the day (as in not 4 pm or something) and, if approved, you’ll have the money in your account that same day.

This is a key area where these independent financiers have a major advantage over regular banks. With so much rigmarole to go through to get a loan from a bank, there’s no chance of getting the cash the same day on most occasions. It’s just not going to happen.

It’s one of the reasons these lenders do fast cash loans and same day loans. They know they can get the business that banks simply can’t (or won’t) offer.


#2 – Having a Perfect Credit History Is Not Required


Of course, it helps, but it’s not essential with smaller cash loans like a same day loan. You’re not borrowing massive amounts here, maybe up to $2000, so the risk on the part of the lender is a lot less than offering up a home loan or some other major loan amount.


Your credit history will most likely be checked when you apply for the same day loan, but even if it’s not perfect, or you have no previous credit history, that doesn’t spell the end of your loan application. There might still be a good chance that your loan amount will be approved.


#3 – Applying Is Easy, and Paperwork Is Minimal


It does not get any easier than being able to make your entire application for the same day loan online at home. There’s no need to leave the house and go anywhere. It’s all done on the internet from start to finish. The online form only takes up some minutes to complete, and any additional documentation required is minimal.


It’s another positive about same day loans. Everything is designed to be quick and easy and hassle-free. The entire process for most lenders is streamlined for both your convenience and theirs.


#4 – Low Interest On Same Day Loans


Obviously, different lenders vary when it comes to interest rates offered on same day loans and fast cash loans, but the great news is that interest rates on these loans are usually way under the rates offered by banks and other major financial institutions.


Often you’ll discover that interest rates are as low as 4%, much less than what you get on a regular personal loan. The only downside is that loan establishment fees are quite high, but that’s to be expected on fast loans anyway.


#5 – It’s Possible To Get Finance Even When Receiving a Government Benefit


While you cannot solely be relying on a Centrelink payment, such as a pension, you can avail of the same day loan if you receive a part payment from the government and also earn some money from a part-time job. As a general rule, a combined income of at least $300 per week is required for you to be eligible to apply for the same day loan.


#6 – Same Day Loans Are Perfect For the Self-Employed


You might have some business expenses that you need to cover while waiting for a big invoice to be paid. The same day loan can be enough to tide you over until your client pays you. These companies favour lending to self-employed people.

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