An online payday loan is a loan for an amount ranging from $100 to $1,500 that is designated to cover your financial obligations until your next payday. The process is completely online; therefore, there is no need to drive to a cash advance/payday loan store and wait in line, or fax over document after document. In addition, by securing a payday loan online, you have the ability to obtain your funds in an hour â€“ instead of waiting for a while at a cash advance store.
Payday loans are otherwise known as cash advances, short-term loans, payday advances, fast cash, and deferred deposit, among other things. What are the benefits of a payday loan? There are many. Most notably, they provide an alternative to incurring late payment charges, negative credit, excessive bank overdraft fees, or bouncing checks. If you have a rent payment coming up and you do not think youâ€™ll be able to make the payment â€“ why endure your landlordâ€™s late fees or bankâ€™s overdraft fees, when a payday loan is not only a more economical option, but also very easy to obtain?
After completing and submitting the online application, you will be matched with a lender within seconds, and, upon your approval, funds will be directly deposited into your bank account by the lender within 24 hours.
In order to secure a payday loan, the following must be met: 1) You must be at least 18 years of age; 2) Employed or have a steady income source; 3) Have an active, open bank account. Additional factors, such as income, previous payday loans, state of residence, and direct deposit availability may influence the approval of your loan application.
In times of immediate financial need, one hour payday loans offer the fastest, most reliable means to secure the funds necessary to overcome your situation. Those with bad credit are encouraged to apply, as most lenders accept borrowers with bad credit.
Before deciding upon whether or not a payday loan suits you, be sure to research all options available before completing and submitting an application.