If you needed cash in a hurry and the calendar reminded you that payday was still several days away, what would you do? Most people in that situation would panic. However, there is no reason to fret over a temporary cash shortage. Every day, hundreds of thousands of hardworking people are turning to payday advance loan companies to solve their temporary financial emergencies.
Fast payday loans were created to provide consumers with quick loans without a lot of red tape. The loans made are typically rather small loans with the amounts ranging between less than a hundred dollars to several hundred dollars. Most banks, credit unions and loan companies are not interested in funding small loans like these. If a consumer finds a bank that will consider making one of these smaller loans, a quick approval is unlikely. Banks typically take one to two weeks to process loan requests. That time frame may be fine for car loans or mortgages, but when money is needed in a hurry, who has weeks to wait? Fast payday loans or payday advances can place money in the hands of the borrower within hours.
The payday loan industry is flourishing because it can offer fast unsecured loans to almost any applicant. An applicant’s credit worthiness is not a concern for payday lenders. The applicant’s credit history is not important because these lenders never need credit scores. Negative remarks on a credit history will never disqualify an applicant. Even with a history of past due payments and accounts turned over to collection agencies, consumers can still get fast payday loans with no hassle.
The urgent reasons people have for applying for fast payday loans are numerous. Some borrowers need money for expenses that come as a surprise such as car repairs, traffic tickets or medical bills. Maybe the rent is due before payday. Utility companies are adamant in demanding that their bills be paid by the due dates. Day care expenses have to be paid in a timely manner. Sometimes people simply overspend and need a few bucks to get them by until the next paycheck comes along. Whatever the reason, a payday lender is ready to provide the money needed. Best of all, the money will be available faster than you ever thought possible.
The qualifications for fast payday loans are incredibly simplistic. You already know that credit is not important. Personal references are not required. Neither is collateral. Applicants who have only been on the job for a short time have nothing to worry about. Employment history does not come into play when borrowing from a payday advance loan company. Naturally, there have to be some restrictions.
Rectrictions for Fast Payday Loans:
- The borrower must be at least 18 years of age
- The borrower must show proof of current employment
- Borrowers must have an existing bank account
Most applicants who can meet these three simple requirements are approved, and approved quickly, that’s why they call them fast payday loans. The age requirement is necessary because the loan agreement is a legal contract. In most states, the legal age is 18 years. The lender will advise you of the legal age requirements in your state. A birth certificate, driver’s license or government issued identification card will substantiate your age.
It is true that an applicant’s employment history is not important, but the borrower must be currently employed. Although they are fast payday loans, they are still payday loans and repayment is typically due on the borrower’s next payday. Payday lenders will not generally require that the employer fax in any sort of documentation. A current paystub will be sufficient to verify employment in most cases.
The bank account is needed for two reasons. First of all, to expedite the funding process lenders deposit the loan proceeds directly into the borrower’s bank account. This allows the consumer to have almost immediate access to the money. Secondly, when the loan becomes due, the lender will simply withdraw the repayment amount from that same checking account.
It all sounds good so far, but just wait until you hear exactly how fast one of these fast loans can put money in your pocket. The loan application can often be completed using any computer with an internet access. In a matter of minutes, the applicant provides some basic information and submits the loan application. Remember that these companies stay in business because they are committed to providing rapid loans, usually completed in a matter of hours. Once approved, the lending company need press only a few keys on the computer keyboard to deposit the money you need into your bank account. Most lenders make the funds available within hours after the application has been received.
When a financial crisis occurs, a payday lender is often the best source for a quick financial remedy. Payday loans are chosen for their simplicity and accessibility. Virtually all borrowers who can meet the basic requirements are approved for an immediate loan. Transactions are completed swiftly and professionally. With so many payday lenders around, consumers have their choice of loan providers. To earn your business, these lenders strive to provide the fastest loan possible and to provide it with courtesy.
Financial Stress Relief – Fast Payday Loans
The resolution to your current financial problem is just minutes away, fast relief for temporary money problems. Apply today and find out what millions of Americans already know about the efficiency and speed of fast payday loans.