Are small payday loans right for you?

Getting access to credit to some people isn't an option anytime soon. 

 

With all the problems some people have on their credit report, they will never be able to find a lender to lend to them. These kinds of borrowers are the kind that have more than one bankruptcies. A number of of credit cards all maxed out they never made any payments. And of course they are no stranger to having their car repossessed, since it happened to them several times. For many people this is a daily part of their life, which is truly sad. But the truth is, in the world we live in let's face it, credit is a part of life Almost always people get paid every 2 weeks, but they need money constantly. What do you do when you have no money in the bank, but are still a week away from getting paid? And using a credit card to buy what you need isn't an option because you can't get one. Applying for a small payday loan could be a solution to your temporary financial problem. Small payday loans as most of the lenders describe them. Are short term small consumer loans against your next pay check. They are designed for short term money problems and are not built to be a long-term financial solution. The majority of the consumers recognize this and manage them appropriately. Because these kinds of loans are risky to lenders they have to charge a high APR. Varying from 250% to 500% over a year. These kind of small payday loan isn’t taken out by people in annual terms. They think in shorter terms. To borrow $100 for 2 weeks will only cost maybe $15. That is absolutely a very reasonable budget friendly short-term option. Think of what the alternatives charge.

• Bank over draft fees of $35 for each transaction
• Late rent fee of $75 + $25 per day

All of a sudden, the small payday loan that might charge $15 for 14 days to borrow $100 is starting to look like a budget-friendly solution doesn't it? If you'd like to apply online here is a link to our website. 

 

Small payday loan lenders are not looking to lend substantial amounts of money to people.

 

When a borrower isn’t able to repay the loan. It’s the financial institution that is stuck. When a lender loses money, they have that much less to lend to another borrower. Think of it from the lenders point of view. If they made 10 loans each for $100 for a 2-week period. And 9 out of the 10 paid their loan off on payday. And the 10th one defaulted. They would have gathered $1035 from the 9 customers. So even with that one borrower not paying them back they still ended up making $35. So, making small payday loans for short periods of time is better for both the borrower and the lender. Neither side walks away dissatisfied. People somehow also believe small payday loan companies target people that are out of work or disabled. You must show you have an income to be approved for a payday loan. After all the name “payday loan” indicates you will have a payday coming to make a loan payment from. To be approved you will need to have a regular monthly income. Also, in order for the lender to be able to lend you the money and be able to deposit it into your account. You’ll need a checking account with a bank. And it needs to be in good standings. Among the now many credit products offered to people small payday loans are one of them offered online. If a borrower uses them wisely and only for what they were designed for. Which is a temporary remedy to an income problem. They can save you a bunch of hassle, humiliation, and most of all time. So, if you or someone you know is in need of a small payday loan we hope you let us help you by visiting paydayadvancecredit.com.