When the global economic recession began in 2007, millions of Americans who were already living from paycheck to paycheck found their finances stretched even further. Many were already struggling to maintain a balanced household budget, often skipping one luxury in favor of a necessity because their finances simply wouldn’t allow them to pay for both. One of the biggest problems that arose during the downturn was a lack of available credit from banks and credit unions. This has made life even more difficult for those with no credit or poor credit as already stingy banks and credit unions have tightened up lines of credit even further. A reliable alternative for millions of individuals may be an online payday loan.
The payday loan industry has grown in importance over the last decade, but it has grown to even greater prominence since 2007 as millions more have considered a payday loan to help solve a financial crisis.
Most online payday loans require the following of individuals:
• Be at least 18 years old
• Possess a valid checking account
• Be able to prove stable employment
A payday loan can help individuals overcome nearly any financial challenge that can arise between pay periods at work. Many of these expenses are unexpected bills and other costs for which there is no available cash to cover. Examples of unexpected financial challenges include:
• Repairing your windshield after a crack
• Getting new tires after finding a nail in one
• Home repairs after a water pipe bursts
• Sudden medical emergencies
Sudden expenses are not the only ones that can challenge an individual or family budget. There are other costs associated with everyday bills that can be seen coming, but are just as difficult to find the money to deal with. Millions are consistently behind on credit card payments, and late fees can drive bills up by as much as $100.
Our online loan request process is quick and convenient. You can complete our online loan request in minutes and get a loan decision in as little as a few minutes. You can get your funds as soon as the next business day, if approved. Our network of lenders works with all credit types.