There are individuals that live paycheck to pay check and may not have cash in a savings account to cover an unexpected cash expense. Some may find that they are in need of quick cash for a family emergency, unforeseen car repair or medical bill. Whatever the reason, one can now receive a short term loan or cash advance quickly by applying for a payday loan.
If you are in need of a payday loan, it would be prudent to review each payday lender before deciding on which company to do business with. There are a plethora of payday loan establishments to choose from and each varies on rates and repayment terms.
Payday loans are usually small cash advances in the amount of $100 to approximately $1,000. If you are a first time borrower, a payday lender usually has a set ceiling on what can be borrowed based on your income and whether you are paid weekly, biweekly or monthly. Once you have paid off your first payday loan advance, a payday lender will usually allow you to borrow more provided your income and place of employment has not changed. Most payday lenders require that you have been at your place of employment for at least 3 months; the required length of employment...