If you find yourself short of cash before payday and need a cash advance by the end of your working day, Payday loans are a good option for you. These are short term loans and the best part is that you can apply for the loan on line without any documentation or paperwork. Also, there is hardly any waiting time as the loan request is processed within hours.

What you need to do is fill up a simple application form and submit it for approval. Customers are immediately informed if they qualify for the loan. This eligibility testing is done by the payday lenders with the help of various data sources available in the country. If you have a good credit history then your loan will be approved and it will be intimated to you. Other details such as the loan amount they have been approved for are also communicated. The payday loans are really helpful for those who have a bad credit history and those who have been turned down by banks and other lenders who continue to make their lending policies stricter.

To avail the benefits of payday loans one need to fulfil certain eligibility criteria. This mainly includes being a citizen of the country, should have a regular job (most of the lenders will not provide you a loan if you are unemployed or self-employed), should be more than 18 years of age and should have a bank account in working condition. While applying for the loan if you have any doubt or there is something which you are not sure off then every lender includes a useful FAQ section in their website that explains every aspect of a their service in detail. A common belief about payday loans is that they are solely targeted at those who are in deep financial trouble. Although most people plan their monthly budget carefully and regularly keep a tab on their expenses, there are times when they may be strapped for cash. A payday loan is simply a financial tool that helps them face these situations head on, and saves them a lot of time and worry by skipping the long lines and paperwork and providing them with the cash they require.

Payday loans make the process of applying for instant cash simple and convenient, by eliminating the need for faxes and paperwork altogether. Those in need of cash can be approved for a loan within minutes, simply by filling out an online application form.