Payday loans are for when you need cash in a hurry. A payday loan will typically advance you $500 to $1,000 by the next day. You then repay the payday loan out of your next paycheck. As most payday loans are only used for short periods of time the interest payable is quite high. That said payday loans are easy to take out if you need cash in a hurry, often no proof of income is required to get a payday loan, but always check the small print of your payday loan agreement.
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