Another advantage of payday loans is that they do not require you to submit documents related to your credit history and the purpose for which you are planning to allocate the money borrowed. Nor do you have to find a guarantor. So, it’s totally up to you what you decide to spend this money on. It may be a new car, house renovation, paying bills or organizing a wedding.
The waiting time is very short as you may receive the requested amount within one or two working days. In this way you may quickly tackle the sudden and unexpected situations which require you to have cash.
In order to qualify, you need to meet the following criteria:
be of age (at least 18 years of age)
have an own account so that the loan money can be transferred
have permanent Internet access
be an American citizen
have a regular income (not necessarily job)
These loans do not require any collaterals. So, you don’t need to have any property or another asset that could secure the loan and that the bank could take if you are insolvent. This is a great advantage.