How quick are payday loans to process and what is a Payday Loan? Payday loans are the best way to get money quickly.
A Payday loan is a short term loan that is designed to provide funds from one paycheck to the next (usually ranging between $100 - $1500). Payday loans are good options when you are in need of money quickly and have a low credit score or don't qualify for a loan from the bank.
Payday lenders require you to have employment income or be receiving a pension and proof of income usually in the form of a pay stub or pay statement. All Payday lenders are different and have different ways of applying, either by traveling to a storefront or by visiting their website.
Common reasons for payday loans are: emergencies, rent, medical, bills, moving costs, groceries, and unexpected car repairs Payday loans can be used to buy and pay for almost anything and provide you with more control over the money than other financial institutions or banks.
Infographic by: mycanadapayday.com