A payday loan is a short term loan, considered by many as an emergency loan because it can attained so quickly. A payday loan lets you borrow up to $1500 and the money can be in your account in less than 24 hours. Most payday loan companies will demand full repayment of your loan on your next payday, although there are some companies that offer you the opportunity to spread your repayment over as many as 12 weeks. Other companies allow you to extend the period of your loan, although this will obviously mean that your loan will attract more interest charges.

If you need money today then you can apply for a 1 hour cash advance. Fewer companies offer this service because an emergency cash loan like this attracts more charges, however, if you need access to money immediately it is a very good option. By applying for a 1 hour cash advance you will usually be given a loan of up to $1000, although some companies may only offer as much as $500 while others will give you access to a small unsecured loan of around $1500. The actual amount you will be able to borrow will depend on your personal circumstances and the company you use.

Applying for a loan till payday is a simple process that requires very little effort on your part. You are able to log on to the Internet and find a company that suits your needs and offers the loan you require. Once you’ve found the company most suited to your needs you then simply fill in the online application form and submit it to the company in question who will contact you within an hour to inform you of their decision. As long as you meet the basic criteria then there shouldn’t be a problem having your loan application accepted. These criteria is usually that you are a US citizen aged over 18 with an active bank account and a regular income of at least $1000 per month.

Short term cash loans of this nature can be used for any purpose although they are most often used in the case of a financial emergency. If you face missed payment charges, unauthorized overdraft charges or any other charges of this nature then borrowing money using a short term payday loan can be an excellent option that will assist you in avoiding financial penalties.

When it does come time to repay the loan everything should be automated. Some companies will automatically take the entire repayment from your account on the date of your next payday while others will contact you just before this date and give you several options pertaining to what you would like to do. These options usually include the chance to roll over your fast cash loan for another term, pay part of the loan back and extend the remaining amount or repay the full loan. The choice you make will depend on your own circumstances but you should pay back as much as you can reasonably afford to repay and you will always need to repay the interest accrued for that month.