A cash advance is a financial transaction in which a person borrows money from a lender and receives the funds in the form of cash. This type of loan is typically used for short-term and emergency situations, and is often associated with credit cards or payday loans. Unlike traditional loans, a cash advance does not require collateral and is usually approved quickly, making it a convenient option for those in need of immediate funds. However, it is important to note that cash advances often come with high interest rates and fees, making them a costly form of borrowing.