When you are in a financial quandary and really need to have some fast cash, the traditional avenues of borrowing money might simply not be efficient. If you have poor credit or don’t have any real established credit history, this can only compound the problem and make it near impossible to get the cash you need in a hurry. Luckily, there are some trustworthy online payday lenders that can help you find the funds you need quickly, and you can complete the whole process over the Internet.

The primary reason payday lenders came into being was convenience. Most people need to have a more effective way to deal with cash flow emergencies than applying for loans at their bank or credit union. Often, an application for a loan at a bank or credit union can take a week or more to be approved, and most people just don’t have the luxury of extra time when they are dealing with emergencies such as unexpected bills, emergency vehicle repairs, or paying the rent on time. Fortunately, online payday lenders can typically do short term loans within a day, sometimes even within hours.

Another major reason that payday loans are becoming so popular is they don’t alienate most applicants like bank loans do. To obtain a bank loan, your credit needs to be near perfect, and the simple fact is most Americans today don’t possess perfect credit. In fact, the majority of people today have experienced some bumps in the road with their credit history, and payday lenders understand this and don’t hold it against you. In fact, payday lenders don’t even pull your credit report. All you need is a reliable income and a bank account to get a payday loan in most cases.

The online aspect of payday loans is another reason people are increasingly turning to this easy way to fund emergencies. By completing the whole application process over the web, the payday loan can actually be entirely done while you are sitting on your couch at home. You don’t even need to leave your home! The payday loan is deposited right into your checking account, making this the most convenient way to get the money you need quickly.