Payday loans [also known as cash advance loans] are small cash loans that consumers can use for unexpected cash needs or manage daily expenses. Whether the economy is prosperous or depressed, consumers always need fast, unsecured personal loans.
Why do consumers use payday loans?
Unlike traditional loans, payday loans require less review and documentation. In addition, payday loans are a quick and easy way to get cash. Even if their credit limit is not ideal, most applicants can get loan approval within a few minutes. The lender can transfer cash to the approved applicant account within 24 hours or less.
Am I eligible for a payday loan?
In order to approve your payday loan request, most lenders have four primary eligibility requirements. If you can "yes" these four questions, you are likely to qualify for a small cash advance.
1. Are you a US citizen?
2. Have you been working steadily for the past 3 months or 90 days, and your income is stable?
3. Are you 18 years old or older?
4. Can you earn at least $1,000 a month?
How do I get a loan of up to $250?
You can get a loan through a nearby cash prepaid store or online payday loan credit. Both options give you the cash you need. Online payday lenders provide the added convenience of a fast loan application process that saves you time and protects your loan separately. After you choose a credit, you must complete the loan application. If you use online banking, the application process is usually very simple and takes about one to two minutes.
If you meet the four  loan application requirements listed above, the loan representative will review your loan application and approve it immediately. It is important to complete your loan application as thoroughly and truthfully as possible, as this will speed up the approval process.
Once the loan application is approved, the cash will be credited to your check or savings account within a few minutes. Cash can be withdrawn by visiting a local bank or automated teller machine [ATM].
When must I return my loan?
From the date of lending, most lenders have a repayment period of two  weeks to four  weeks. Since payday loans are short-term cash advances based on your future salary, they usually expire when you receive the next two  salary payments. It is important to borrow only as needed and to repay in a short period of time. Reputable lenders will be more flexible and can work with you to develop an appropriate repayment schedule based on your needs.
What if I live in a state that has restrictions on short-term loans?
Although cash advance loans are very convenient, not all states have cash advance lenders. A quick search can yield results as to whether you can get a short-term short-term loan in the state. For example, states such as West Virginia, New York, New Hampshire, and the District of Columbia have restrictions on small cash loans. In some cases, obtaining a loan is illegal. If your state does not have the ability to receive small short-term loans, other options include car ownership loans [if you own a car]. In some cases, if you use a title loan, you can get more cash, but be aware that if you don't repay the loan, the lender can take back your car.