What is it?
Payday loans, also known as cash advances, payroll advances or paycheck loans, are a type of short term loan that consumers use to give themselves a little bit of extra funds between paydays. Consumers typically take these payday loans out in amounts ranging from $100 to $1000 when they are temporarily unable to make ends meet.
Payday loans are also known as an instant payday loans because of their speed. Perhaps you’ll make enough this month that you could pay for that emergency car repair or other urgent bill that needs paying off right now. If your paychecks are spread throughout the month, and you need the money NOW, an instant payday loan can be just that – Instant.
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