(PRWEB) July 29, 2012
BestPaydayLoans.com is growing its collection of free online articles with the addition of a new piece, “Get Cash: Same Day Payday Loans Online.” The material is designed to help consumers understand the payday lending process and some of the most important differences between traditional bank loans and payday loans. The company hopes that the introduction of this informative educational feature will help would-be loan borrowers better understand the flexibility and benefits of taking a short-term loan to deal with small but urgent debts.
“At BestPaydayLoans.com, our loans are truly hassle-free,” says BestPaydayLoans.com spokesperson Matthew Ross. “The application process takes just minutes, and upon quick approval, loan funds are deposited directly into consumers’ bank accounts within 24 hours. Borrowers never have to leave their home to get their money, and our virtual offices never close, meaning that applications can be completed at any time of the day, from any Internet-connected computer. This is a huge advantage over what someone will go through to get other types of loans, which often require repeated visits to a bank or lending center.”
The company proudly boasts of offering the best payday loans available on the market, and to apply for one, consumers must show proof of income of at least $1,000 a month from a job they have held for at least three months; proof that they are at least 18 years of age and have a valid Social Security number; and have a checking account as well as valid phone number and email address. All their information must be entered online through the company’s brief, secure application form. The data is protected and is never shared or sold to third parties.
Payday loans require no co-signers, and the borrower’s paycheck essentially acts as the collateral for the loan. Once the customer’s next payday comes along, the repayment amount is automatically taken from the same bank account where the loan was deposited in the first place. Since consumers do not have to present a credit score when applying for a payday loan, those who have bad credit or even no credit can still qualify for this type of financial assistance, even if they would not qualify for a standard loan from a bank or other traditional lender.
Another major advantage of payday loans is the fact that borrowers can take out just a very modest amount if that is all they need. With traditional bank loans, borrowers usually must adhere to minimum loan amount limits that are imposed by the bank and often require individuals to take out more than they can realistically handle. This can lead to long-term loans that may be difficult to repay, resulting in further financial difficulties. BestPaydayLoans.com offers loans in amounts as little as $100 for people who just need help catching up with a late bill or covering an unexpected expense.