Fast personal loans

Fast online personal loans or payday loans are becoming more and more popular among borrowers. They are issued to borrowers by direct loan lenders operating online. The lenders are obligated to provide the borrower with the terms and conditions, which should clearly state interest rates, fees, and time when the loan must be repaid.

Payday loans

Payday loans are high interest loans that have to be repaid on the borrower’s next payday. Rollovers are possible but tend to be expensive. Some states regulate the number of rollovers or payday loans taken at a given time. You have to check with your local authorities.

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Borrowers should try to avoid payday loans and opt for other types, which are less expensive and don’t put too much burden on their budget.


Personal Loans

Personal loans are a much better option when it comes to borrowing money, because they can be repaid by monthly installments. Personal loans are much less expensive than payday loans.

Bad credit or no credit

You can apply for a payday loan or personal loan with bad credit or no credit at all. It’s all up to a lender approve or deny your request based on your credit score. A lenders may run a credit check to see your credit history. Bad credit will not necessarily preclude you from getting a loan. Approval depends on many factors: your employment, income, or the amount you want to borrow, and etc.

Bank account

If you want to borrow money from a direct lender online you must have a valid bank account, either saving or checking account. A lender who approves your application can have his/her business in different state. The money is wired directly to your bank account.


You must be employed or have a regular monthly income in order to qualify. Lenders can check your employment or ask you to provide a paycheck stub or simply take your word for it.

Available 24/7 including weekends

Personal loans and payday loans are available 24/7 including Saturdays and Sundays. Some lenders are open for business on major national holidays.

Approval in less than 1 hour

Most lenders will get back to you in a matter of minutes. In most cases the approval process takes less than 1 hour.