Payday loans can be ideal for those in a tough financial situation especially when conventional avenues are inaccessible. Typically, the easy availability and quick approval proves to be a boon for those who:

• Have exceeded their bank overdraft limit a number of times and have no hopes of being approved


• Have maxed out their credit cards and will not be considered for another


• Have poor credit rating


• Pawning cannot raise the money they need


• Salary day is too far off to wait

Borrowing from family or friends may appear like the next best option but this can be embarrassing to many people. With long term loans out of the question, a quick cash loan is the best option.

Making the decision

For those with low or irregular income streams, and existing debts, looking for the best payday loans makes sense. They may need it to bridge the gap between an urgent expense and payday or to take care of emergency payments such as utility bills, maintenance work that cannot be avoided, or even an unavoidable situation in the family. Quick cash loans conveniently meet short term needs when bank overdrafts and credit cards have been exhausted. It is a fact that banks have strict procedures and are inflexible when it comes to repayment.

What makes payday loans attractive?

There are certain features unique to the best payday loans that no other short term financing options offer. Some of these are:

• Simple application process


• Zero credit check


• Limited scrutiny by the lender


• Comfortable experience that does not judge or embarrass


• Speed of transaction


• Satisfaction of borrowing only what they need


• No collateral, except proof of their ability to repay with their next salary cheque


• Online applications possible


• A fixed deadline for repayment increasing the commitment to stick to the date unlike bank loans that seem to stretch eternally

Quick cash loans allow borrowers to apply for the exact amount they need to fulfil their immediate financial shortfalls and this can be to catch up on credit card payments or a rent shortfall, or to make good their bank balance if they have issued a cheque to avoid the penalty of additional charges and fines. Some lenders do not ask repeat borrowers about their employment history each time they apply for cash.

An advantage that most borrowers experience with the best payday loans is the control it imposes on how much they borrow because of the fixed range allowed, namely 80 to 1000. One can go in for the specific amount required to take care of the emergency need. Because of their short term nature, these loans keep the borrower from getting into long-term debt, so long as they repay the amount they borrow on the due date. Even the loan fee, which is higher than its other short term counterparts, is considered worth the benefits especially when the penalty related to bank overdrafts and credit cards is taken into account.

More than anything else, the easy application process and quick access to cash within a few hours of applying for it is the deciding factor.