Payday loans are great for getting money fast when you need it most. These types of loans are short-term loans that are fee-based. This means there is a set fee based upon the loan size. You can get approved within minutes when you apply for a payday loan. If you repay your loan on time, you repay the loan amount and the fee, so you know exactly what you are paying.

Direct payday loan lenders do not need to perform hard credit checks. An online payday loan is a good option if you cannot get a traditional loan because of poor or bad credit, but there are still some basic requirements.

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Author's Bio: 

Robin Williams is the General Manager at CashOne, a reputable financial services company that helps consumers tide over their short-term financial crises. Our fast, convenient, and secure online loan application eliminates the unnecessary hassles or time required to procure payday loans online.