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The lender will hold onto the bad loan funds until the loan is paid off, at which point the funds are released to the borrower. You can often receive an approval decision within a few minutes of submitting your application, and the loans funds can be deposited into your account within a few hours or days, depending on the lender. Credit card cash advances typically have a higher interest rate than regular credit card purchases, but they are still typically lower than the credit interest rates on payday loans.
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