Payday loans fill an important void that is not served by traditional banks. In a perfect world, everyone would be on top of his or her finances, and there wouldn't be a need for payday lenders. But in reality, most of us have gotten behind on bills at some point.
National Payday offers cash advance loans based on your next paycheck. A payday loan is something to consider if you find yourself in a short-term bind and in need of money. As an example, if you have been shopping for one too many "bargains", and can't make your credit card payment, a payday loan may help you out. Applying for a payday loan is simple, and takes only a few minutes to complete. Most loans are approved within 24 hours.
National Payday has a FAQ that explains how to apply for a loan. A checking account and a steady job are the requirements to apply. To explain how the loan works, suppose you were to borrow $300 from the payday lender. The lender then transfers this money to your checking account, and expects you to pay this amount plus a 25% fee ($75 on a $300 loan) when you receive your next paycheck.
I advise borrowers to read National Payday's disclosure information before applying for a loan. The effective annual percentage rate (APR) on the loan can be several hundred percent, depending on the situation. If used correctly, a payday loan can help tide you over to the next payday.
This post is sponsored by National Payday.
