It's easy to get confused with all
the different payday loan types you see online. Here's a breakdown of what you
will probably be seeing:
No Fax Payday Advance Loan - Some companies require hard copy transfer of all your
documentation. They might want Pay Stubs, bank statements, copy of bills etc..
The preferred method is a NO FAX loan. This is much more convenient.
Fax less Payday Advance Loan - Same as "No Fax Payday Loan"
Online Payday Advance Loan -This simply means the entire transaction takes place on
line. The company may have a physical address but is not required to process
your business.
Instant Payday Advance Loan -This type of loan will instantly notify you if you are approved.
Instant could mean between 1-24 hours.
Bad Credit Payday Advance Loan - Typically, most online payday loan providers are NOT
concerned with credit or FICO credit scores. This is simply a confirmation that
the company will loan money to you even if your credit is bad.
No Credit Check Payday Advance Loan - These companies will not verify credit or use credit score
as a condition of your loan. Typically you need only prove employment.
1 Hour Payday Advance Loan - This type boasts funds deposited in your account in 1
hour. There are usually higher fees that go with this since there is more risk
to the lender.
30 Day Payday Advance Loan - Typically a fast cash loan is due in 14 days. This type of
loan is due in 30 days - many times the fee is slightly higher because of the
longer due date but you'll need to compare specific lenders.
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