A payday loan (also called a paycheck advance or payday advance) is a small, short-term loan that is intended to cover a borrower's expenses until his or her next payday. Typical loans are between $100 and $500 and are due in two weeks, with interest rates of up to 400% APR. On a two-week loan, fees average $15 for each $100 lent. The loans are also sometimes referred to as cash advances, though that term can also refer to cash provided against a prearranged line of credit such as a credit card.
Payday loan online are marketed through e-mail, online search, paid ads, and referrals. Typically, a consumer fills out an online application form or faxes a completed application that requests personal information, bank account numbers, Social Security number and employer information. Borrowers fax copies of a check, a recent bank statement, and signed paperwork. The loan is direct-deposited into the consumer's checking account and loan payment or the finance charge is electronically withdrawn on the borrower's next payday.
Tuesday, August 19, 2008
Payday Loans Online
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Cash advances are available anytime for anyone who needs some last-minute cash. They are even available on-line, and the process is quick and simple.
Payday loans are great to have around when you are in a bind. People talk down about them and how they are nothing but loan sharks. I have found that as long as you shop around to get the lowest fees you would be better off getting a loan then paying overdraft fees with you bank. Its quick , little info needed, lowest fee's in town and you walk out with the cash you need the same day.
payday loans online
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