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If you need a small amount of money such as $1,000, your bank will not give you a loan for this amount as it is too small for the bank to deal with. The amount of interest they would be paid for such a small loan would not cover the expense of staff and equipment to keep a small loan on its books. This is why the birth of the payday loan came about. A payday loan is one that covers your need of a small amount of money in a hurry for some urgent emergency or just to have some money on hand until pay day. After qualification money can be deposited to your checking or savings account wither within twenty four hours or same day. Some companies are equipped to give 1 hour payday loans.

To apply for 1 hour pay day loans is the same as applying for any other loan. You can telephone the company or apply online or at a facility owned by the company. If you have an active checking account or savings account and a job that pays you regularly you may qualify for a payday loan. Some loan companies check your credit to qualify you but others do not. Usually bad credit is not a deterrent to obtaining a cash advance. Qualifying for the loan means that the company (that does not check with credit reporting companies) wants to substantiate the fact that you have the bank account you claimed on your application and that you actually have the job you claim to have. After you have qualified, when you receive your money will depend on the kind of company you applied with. Some will deposit the money within twenty four hours, another will deposit our money the same day and there are also the 1 hour payday loans. You should specify, when applying for the loan, how you would like the money dispersed whether in twenty four hours, same day or within one hour.