Wednesday, December 9, 2009

Are Instant Approval Payday Loans Hassle Free Short-Term Loans?

Have you ever needed a little extra cash, and needed it right away?

Have ever needed to take out a loan but didn’t want to go through the hassle of going through a bank or a traditional lender? Borrowing money from a bank or a traditional lender can mean going through a lot of red tape; credit checks, faxing documents, meeting with loan officers, signing papers, and waiting.

Sometimes we can even go through all this and still not get approved for the loan. Not a fun way to spend our time for just a small cash advance. Rather than go through all the trouble of going to a bank a person may want to consider getting a payday loan.

Payday loans are a quick cash advance without going through the hassle of getting a loan from the bank. There is no credit check, no faxing of documents (other than you might have to fax a pay stub if they can’t verify your employment information), no meeting with a loan officer, and usually no waiting. Not having to go through all these things can make a payday loan look like an attractive alternative to using a traditional lender.

These types of loans are usually for $1500 or less and for the most part are paid back within 2 weeks of borrowing the money. The interest rate is usually between 5% and 25% every two weeks. So even though you avoid the hassles of using a regular bank it comes with a price. Everybody has to decide for themselves if an instant hassle free loan is worth the cost.

1 comment:

  1. what are the documents needed for getting loan i an b business person and seeking for business loan
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    ReplyDelete