A payday loan is a cash loan of a few hundred dollars, to help you get money when you need it most. They were created to help with any cash flow gaps, meaning you are able to meet your needs even if you don't have enough to last the fortnight. As well as being useful for normal bills, they are also helpful for unexpected one-off needs, like car repairs or boiler replacements.

Getting a cash loan by taking money out on your credit card can be very expensive, as you pay a higher interest rate on it, which hangs around until ALL of your balance is paid off. Card companies make much more money on cash withdrawals, an unneccessay expense. Also, most standard loans take a long time to be approved and reach your bank account. They also have to be paid back in instalments each month for a set time, rather than simply being dealt with in one go when you next get paid.

Payday loans can be approved online straight away, with the money reaching your account within just 24 hours. The wonder of the Internet means you can simply fill in an online application and can receive a decision in minutes! They can be a very useful source of finance if you're credit history isn't as good as you'd like; our lenders are only interested in whether your wage will be enough to make the payment. Even though you need a regular income to get a payday loan, you don't need to have any assets. This makes payday loans an ideal form of cash loan e.g. if you may have a rent payment due and an unsympathetic landlord. They can also be a very good way of avoiding credit card charges and bank charges. For example, even if you just miss one payment with a credit card, you end up with a permanent blemish on your credit record and worse, a higher rate. The small charge for a payday cash loan will often make up for this, and also, your credit rating isn't affected, even if you are turned down for whatever reason.

Some lenders will ask for some basic paper work by fax (like a bank statement) but this is usually only when you are trying to borrow the maximum. Loans of $200 to $400 are approved all the time with no further information required, other than a few basic details on our online form. Payday loans are paid by a direct transfer into your bank account, and don't have any administration fees: you are only charged the fixed rate you've agreed to in advance, which is usually $26 in every $100 lent.