cash-advance

Vocabulary Word

Definition

A 'cash advance' is an immediate loan you can take from your credit card or a specialized service. It's like a loan that you must repay, often with a high-interest fee.

Examples in Different Contexts

In small business financing, a 'cash advance' might be a lump sum payment to a business in exchange for a portion of future sales. A financial advisor might explain, 'A cash advance can provide quick capital, but it's important to understand the repayment terms and costs involved.'

Practice Scenarios

Marketing

Scenario:

We're launching a campaign to promote our financial services. Let's brainstorm engaging ways to highlight our cash offer.

Response:

Highlighting the convenience and speed of our cash advance service could attract potential clients.

Tech

Scenario:

Our app offers several financial tools for users faced with sudden expenses. How can we make this feature user-friendly and secure?

Response:

Including a smart calculator for tracking cash advance repayment might enhance the user’s loan management.