An emergency can happen at any time. When one does occur, people have to put their lives back together afterward. It can be very difficult to pay for an accident or emergency between paychecks. Traditional banks may not be available or open and family or friends can be difficult to ask. However, payday lenders are available across the United States and have even expanded online for greater convenience.
In the early 1990s, payday lending was in its infancy. There were less than 200 total payday lenders across the entire United States. As of 2009, there were more than 22,000 payday lending locations nationwide. Although payday lenders are more common in cities, there is likely at least 1 in every community. And with payday lenders creating new online offerings, payday lending is now available to anyone with a computer.
In 2009, 10 million households used a payday lender at least once during the year. The reasons to do so include:
- Easy repayments
All payday loans are completely private and between the borrower and lender. Customers simply fill out a short form and will then receive their money a short time later. This protects the customer from embarrassing or shameful questions from other people.
In addition to being available across the nation, payday lenders are available online at all hours of the day. No matter when an emergency happens, online payday lenders are open to help victims. Funds can be directly deposited into a bank account to protect customers from carrying around large sums of cash.
Repayments are as easy as 1-2-3. A payday lender can set up an automatic withdrawal from the same bank account that the money was deposited in originally. There’s no hassle or having to remember when a loan is due. People can simply let the payday lender withdraw the loan repayments for them.
Fast approvals are available at any time. Payday lenders can approve a loan application in only minutes. Payday lenders will send the money quickly. Borrowers can often have it available to them in the same business day. The speed of payday lenders is much faster than a traditional bank and allows borrowers to handle their emergencies immediately.
When it comes to paying for an emergency, a payday lender offers the best combination of fast approval and nationwide convenience. No matter where an emergency takes place, a payday lender is located nearby. People can stop by or log on for quick cash and handle their emergency. Often they’ll be able to apply, receive the money, and pay off any emergency bills all in the same business day.
The wide availability of quick cash means everyone can find a payday lender at a convenient location. Whether in a bricks and mortar store or online, a payday lender can work with borrowers. Payday lending is fast and simple for people who need quick cash. When it comes time to pay for a sudden bill, consider choosing a payday lender if money isn’t easily available.