Payday loans are the fastest and most convenient option for getting a cash advance for emergencies before your next payday. However getting payday loans and their repayments involve certain important aspects. Herein we are trying to answer all your general queries related to Payday loans and we hope it will serve as a tool to open up any mystery surrounding payday loans or cash advance.
Payday loans or cash advance loan is a short-term loan. The term of loan may vary from 14-31 days. This personal loan is taken with the intention of meeting financial needs until the next payday. This loan is basically an unsecured loan. It can be defined as a small loan which an individual takes when he/she feels the need of some quick cash to meet immediate expenses before his/her next paycheck.
Who can get a Payday Loan? People of all ages, who work full-time, part-time, are self-employed, retired or on disability can apply for this loan. These people should be permanent residents of USA, above 18 years of age and must have an active bank account.