1. Fast loans can be credited to your account within one hour.

True
Borrowed funds in the form of cash advances can be applied for online, which is the most effective way to apply, and thus results in the money being credited to a named account within one hour. However, this type of borrowing generally has limits as to the amount that can be borrowed.

2. Fast loans can take the form of payday loans.

True
A cash advance can be obtained through a payday loan program. This is a loan that can be acquired quickly and easily. This type of funding can be applied for online and money can be directly deposited into a bank account. While this type of funding may be convenient, it is wise to understand that it can have an interest rate as high as 500%.

3. Fast loans always check your credit history.

False
The credit history of an applicant is generally not considered. However, depending on the kind of financing applied for, the approval may be made because the applicant is borrowing against their home (like with a Home Equity Loan) or some other property. Borrowers should thoroughly research the lender for interest rates, pay back stipulations and pay periods.

4. Fast loans are all given out in the same amount of time, regardless of the amount being borrowed.

False
For smaller dollar amounts, funds can be given out in as little as one hour. Loans of several thousand dollars may still be credited fairly quickly but will generally take longer to approve. Always check the lending company's details and procedures before applying for any funding.

5. Fast loans should be handled with great wisdom.

True
Proverbs 27:23-24 - Be thou diligent to know the state of thy flocks, and look well to thy herds. For riches are not for ever: and doth the crown endure to every generation?