Payday loans have come a long way in the past decade. It used to be a lengthy process where you had to visit an office, wait your turn then speak to a payday loan specialist. Before any of this you’d have to call your employer for paycheck stubs, get a printout from your bank and round up people to use as references. If you didn’t have a checking account, you didn’t have many options. Today, payday loans are almost instant and most businesses will let you apply online with no credit check, no faxing and no shuffling documents around.
Let’s face it, if you’re applying for a payday loan it’s usually because you need to get some money quickly and you don’t want to spend a lot of time driving all over town rounding up paperwork and then go to an office that may or may not deny you anyway. Most of us have computers or mobile phones that allow us to browse the web and payday loan companies usually offer an online alternative. Depending on the company, after you fill out the application and are approved, You can get cash advance money deposited directly into your bank account between one hour and one business day.
Speed is definitely a factor for people who need payday loans simply because time could play a major role in why they need the loan in the first place. If you just got a call from your utility company saying they are going to shut your power off tomorrow, It’s imperative you get your cash advance money now, not in a week or two like traditional banks typically offer. This Is where the no fax, and/or online Instant payday loan companies come in. Many of them can get you money almost immediately so you can handle your business and go on with your day.
How Instant Payday Loans Work
Instant payday loans work similarly to the check holding loans that were popular years ago except you don’t really need to have a physical check and most of it is done online. The first thing you will need to do is find a payday loan vendor that operates in your state and abides by all your state’s laws and regulations. Once you’ve selected one, you usually have two options. Visit them in person or visit their official website.
Visiting a payday loan office in person, offers you a slightly more personal experience because you be working with a customer support agent face-to-face. This appeals to a lot of people simply because it’s the traditional way of getting things done. You may face some driving time and possibly have to wait in line if it’s a popular business or if it offers all kinds of other services such as check cashing. Not all physical offices are lenders themselves so you will want to call ahead to see if you’ll be leaving their office with cash in hand.
If you decide to use a payday loan company’s official website, you’ll usually be presented with a lot of information. The homepage usually tells you little bit about the company itself, provides some information about payday loan laws, and has an application to fill out right there. You can almost always narrow down the payday loan information to your exact city or state and that will tell you more about how much you can borrow and how long you have to pay it back. After you fill out the application, you’ll usually be contacted right away by a customer service representative for that company who will go over the details with you. It’s possible to get money in your account in as little as 15 minutes this way.