Benefits Of Working With iCASH, An Online Canadian Lender Helps Parents Manage Emergency Expenses With Quick Funding Options

by Amy · Published September 23, 2020 · Updated September 24, 2020

Some people say that love is all you need. Some will argue that money makes the world go ’round. But if you’re a parent, you have to learn to balance the two. As a loving and responsible parent, you have to nurture your children and provide their needs and wants. When you were single, managing your finances was a breeze. Now that you have kids, it’s a whole different scenario.

Being a parent is a huge responsibility. Your children depend on you for their different needs. Unfortunately, there really is no telling when you’ll experience a cash shortage. Despite careful planning of your budget, it’s inevitable to face emergency expenses that need fast cash.

Financial management becomes more complicated when you get married and have kids. There are a variety of reasons why you will need quick funding to take care of a sudden cash shortage as a parent, such as:

Higher Living Expenditures: New parents often have trouble keeping up with the financial demands of raising children. If a cash shortage is often experienced, it may mean that the current household income is not sufficient. A workaround is to create or reassess the family’s budget. Getting a loan can help fill in the gaps in your budget only for a short period. A careful analysis of the incoming and outgoing of the household is crucial to resolving sudden and frequent cash shortages.
Emergency Expenses: The very nature of emergencies makes them challenging to prepare for. Because they are sudden and often urgent, many parents struggle to find quick funding options to handle these financial constraints. If a child had an accident or suddenly became ill, they must receive immediate medical care. Other emergencies can ruin your budget, such as a broken-down car, a malfunctioning HVAC unit, or a leaking roof should be taken care of quickly before the problem gets worse.
Cost Of Extracurricular Activities: Raising kids is expensive, and every parent knows that the needs and wants of their children can put their strict budget in disarray. A school field trip, birthday, personal milestone, or a new hobby warrants the need for fast cash.
Economic Conditions: Most parents try their best to keep their children’s needs on top of their list, but sudden or unforeseen workplace changes could wreak havoc to an otherwise reasonable budget and sustainable lifestyle. For example, you may now be working shorter hours due to the COVID-19 pandemic, leaving you with lesser money to take care of your regular household expenses. Lenders like iCASH can provide quick funds to parents who need additional funds for various expenditures.

What Are The Benefits Of Working With iCASH?

With numerous sources for quick cash loans, it’s crucial to find a reputable loan provider. One way you can determine whether a lender is suitable is to look at the benefits of taking out a loan from them. For instance, how reliable do you think iCASH is?

iCASH is a Canada-based online loan provider licensed to offer short-term loans. So far, there are varied benefits that make iCASH standout among other lenders in Canada. Here are some of them:

1. Convenient Application Process

Getting a payday loan through iCASH is a breeze. Unlike other payday lenders and short-term loan providers, iCASH will not ask for any documents. If you need cash fast, it’s a hassle to wait in line for hours or fax loads of documents to submit a loan request. The real-time 100% online loan process of iCASH allows you to finish fast and receive the extra funds that you need in no time. You also don’t have to worry about the safety of your personal information because iCASH uses the latest technology to keep all client data secure.

2. Easier Payment Terms

Unlike traditional payday lenders with 10-day loan terms, iCASH offers a 42-day term for principal amounts up to CAD$500. Other lenders may give you a longer term of 70 days, but there is usually a 32% annual interest and brokerage fees that come with it. With iCASH, there is a commitment to transparent and responsible lending. Thus, you can be sure that you’ll understand all fees and interests associated with your loan.

3. Pro-rated Borrowing Cost

You’ll want to borrow money through iCASH because of their pro-rated borrowing cost of about CAD$1.78 per day. Compared to other lenders with CAD$3.71 up to CAD$7.50 interest per day, iCASH has one of the lowest costs of borrowing based on the annual percentage rate (APR) of 130%. You’ll save a lot on interest rates since other loan providers have an average of 271% to 548% APR.

4. Quick Funding For All Clients

Equality is inherent in iCASH as it does not discriminate. As long as you qualify for a quick short-term loan, you’ll be able to get the funds that you need in as fast as two minutes. Because the lending process of iCASH is fully-automated, your application is reviewed and approved instantly. The e-transfer feature is available for all qualified iCASH customers. Once your application is approved and the loan agreement is signed, you can expect to receive the money you need for any emergency–any time and any day of the week.

5. Exceptional Customer Care

It’s crucial to look for a loan provider that truly cares for your current situation. Aside from the quick and convenient process, iCASH prides itself on being a responsible lender. This means you’ll only be approved for an amount that you’ll be comfortable to pay back. The way iCASH operates differs from other direct lenders as the former provides top-notch customer support from the time you apply for a loan until after you have settled your borrowing.

Takeaway

Getting a loan is usually the last thing on your mind until you’re faced with a situation that must be handled as quickly as possible. Most parents will do everything to ensure their kids live comfortable and happy lives. While regularly taking out short-term loans is not the solution to an enduring financial problem, working with a reliable direct lender like iCASH helps you safely get the quick injection of cash that you need for important and urgent matters.