What is a payday loan?

Posted by valmg under Meanings, Money, This and That

Recently I’ve seen the term payday loan mentioned. I wasn’t exactly sure what that meant, so of course I had to check it out. I thought a payday loan was just another phrase for a personal loan, but according to Payday Loans Mania a payday loan is a short term loan that requires no credit check and has a shorter approval time than most personal loans. Even people with bad credit can get a payday loan, and they don’t need a cosigner. At Payday Loans Mania applicants can live anywhere in the US and all that is required to complete the online application is proof of employment, residency and identity as well as an open bank account.

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