Why Use Payday Loans

Cash advance loans, or sometimes referred to as payday loans, are short term loans that are usually paid back within a couple of weeks and have one or two payments only. These loans can be helpful for people that need cash in a hurry and either can't or don't want to go through traditional loan methods, where credit is checked, and installment payments are made. Typically, short term loans are used for emergency situations or bills that come up last minute and can break one's budget. There isn't any interest on these loans, rather a fee, and the fee is usually capped at $15 per $100 borrowed in most states. Many critics like to use APR for these loans to try to scare people about them, but in fact APR is not accurate in these loans because there are no installment payments and the entire loans has to be paid back at the end of the short term period. For those that are looking for more information on short term loans, or want to get a cash loan, check out sites that have user ratings for the lenders like Cash Advance Reviews. The site has some of the top lenders and are rated by users so that people know what are the top rated payday loans online.