A payday loan is a short period loan which is proposed to cover a borrower’s debt or expenses until his next pay day. Payday loans are also known as payday advance loan or cash advances. The amount of payday loan is usually between 100$ to 1000$ and the loan term is usually two weeks or a month. The main setback or drawback of payday loan is high interest rate, which is usually around 400% APR. Usually payday loans are borrowed to meet up unexpected expenses, avoid delay fees on bills or to avoid check bounce. Payday loans are usually borrowed because they are quick and don’t gets affected with bad credit score.
Getting a payday loan is an easy task which requires only few clicks over the web. Lets talk about US based company Payday One which is providing payday loans online, and which is also a state licensed cash advances company since 2002. Payday One is the only company which provides great rate guarantee, has fast turnaround and has no problem with low credit score of borrower. One can get payday loan from this company with just 3 easy steps. This company also provides tips for using and avoiding payday loans which seems consumer friendly thing.