Need fast cash? Have to pay for car repair but payday is not until next week? We know your situation and our help is what you need! Apply now and get a short term payday loan.

One shouldn’t be surprised when he sees an ad like this on the internet since the online payday loan business is a competitive industry nowadays. Ads like these are they just one of the ways that these businesses make to attract prospective customers and stand out from the rest of the competition. It’s up to the borrowers to know how payday loans work and how to choose the best one for their needs.

Payday Loans explained

This is usually an online transaction where the borrower will give the lender access to his bank account or personal check to be deposited in a future date. To keep it secure, a personal check is written with the loaned amount and corresponding fees and electronic access to the bank is signed.

Borrowers may choose to pay the loan in a lump sum or opt to pay the finance charge and ask for a rollover to the next payday. If the borrower chooses to pay in lump sum, he can redeem his check by paying the loan in full together with the finance charge or just have it deposited.

What are the requirements to apply?

A prospective borrower should have a steady source of income, forms of identification and an active bank account in good standing to apply for a payday loan. No other check for capacity is conducted.

Reasons in getting a payday loan

Because lenders want to stand out in the competitive payday loans business, many of them offer added value to their loan packages allowing customers to get more benefits. Borrowers just have to choose which online provider best suits them. Some lenders offer benefits such as high loanable amounts, fast and easy online application, quick processing, and low charges and fees.

Borrowers choose a lender that offers something that can make the most impact for their financial situation. Generally, lenders that offer lower rates ask for more documents and those that process the loan more quickly and allow higher loanable amounts charge higher fees.

Applying an online payday loan with Payday Loan Buff

Getting a payday loan with Payday Loan Buff involves a few easy-to-follow steps. Borrowers just have to fill out an easy and secure application then click Get Cash. An online decision will be given instantly.

Borrowers can apply for a loan of as much as $1,500. The amount that the borrower receives will be dependent on the information provided on the application. Initially, new borrowers may get a smaller loan amount and would only increase once he establishes a payment history with the lender.

Payday Loan Buff works with a wide network of lenders making it easier to process the loan with just one secure and simple application. Once borrowers get the approval for their loan application, they are redirected to the lender’s website where they need to sign their documents. The borrower is no longer required to fax over documents except in some cases where the lender requires faxing of some details such as a paystub.

This article is written by Karen Krum. Get more details on how to apply for payday loans in Illinois.