A cash advance or payday loan is a short-term loan that provides you with immediate cash and you provide a promise to pay when you get your next paycheck. This type of loan is helpful if you need to cover unexpected expenses and you have no savings.  A payday loan is very much like borrowing money from friends or family except you don’t have to go through the embarrassment of asking for money.

A payday loan service will normally require that you have been employed for three months, that you have an active checking account, and that your monthly net income is more than $1000.00. Then you simply with the payday loan service a check for the amount you wish to borrow, and the give you the cash minus a service fee. It is even possible to do this transaction online if you have a bank that can take a direct deposit. There is usually a limit of around $200 on the maximum amount of money that you can borrow from any payday loan service.