It’s no longer difficult to get the funds you need to deal with an emergency, thanks to easy payday loans.
From the days when obtaining any kind of loan involved quite a lot of effort, we have now arrived at a point where it is possible for almost anyone to easily apply for payday loans online, from the comfort of their own home.
Historically, obtaining a loan from a bank has been fraught with hassle. Usually, it was necessary to visit the banks premises and meet with an official or bank employee who would perform a clinical dissection of your personal affairs before deciding whether to grant your application, or not, as the case may be. By contrast, these easy payday loans require no such visits and, although a credit check would normally be made, as long as you have a job, for without one there can be no payday after all, the whole process is straightforward and, well, as easy as shelling peas!
So why was is that the banks made life so difficult, and in many ways still do, but payday loans companies seem to be able to offer an almost effortless access to emergency cash.
The answer is that banks don’t really “do” short term cash advances. In fact, the closest that most banks ever get to having a payday loan equivalent is that old favourite the overdraft.
Overdrafts are convenient of course if you just have a momentary lapse of concentration and stray, ever so slightly, over your account limit. They are not so convenient if you need to stay overdrawn for a longer period since the charges can be quite high. In any event, many people cannot get an overdraft facility from their bank so for them the issue doesn’t arise. Most overdrafts are literally intended to tide you over for a day or two at most, if the funds are needed for longer then there are more suitable ways to get them. They are a buffer zone, nothing more.
Many people would, of course, use a credit card to deal with a short term cash requirement but once again the banks and card companies restrict their availability by making them available only to those who are fairly well heeled to start with. Even if you do have a credit card its worth bearing in mind that, because you can decide to make only a minimum payment each month, what starts off as a short term fix can become a very long term commitment and interest is added to interest as time goes by, month after month.
Now it may be that when your own personal emergency happens there is a long list of friends and family that you can call upon for a bit of help in a time of need. What is very noticeable here is that many of those friends will tell you that they too are experiencing a little bit of a pain in the wallet due to it being a very heavy month for them as well.
It is easy for those who have money to get more money, banks love to lend to those who pose no possible risk. For those whose needs are a little more complicated, for whom every penny counts and is difficult to earn, there is good news in abundance. There is a way to overcome short term financial needs for those who have few, if any other options, with payday loans.
Payday loans are a well enough known solution to short term financial needs. They are transparent and readily available, they are convenient and very welcome to those who really need them, and now, thanks to advances in Internet and computer technology, we have truly arrived at the time of easy payday loans.
Why easy? Easy payday loans are so-called because the process of obtaining them could not be easier, or quicker. It’s the invention of a certain Sir Tim Berners-Lee that we have to thank for that. The inventor of the world-wide web could hardly have known back in 1989 that his invention that year could have led to this effortless access to payday loans online, but it did.
Thanks to the web, loan providers (both direct lenders and brokers) are able to make small payday loans available to anyone who has access to the internet – and these days that includes almost all of society. So, payday loans came into being mainly because there is a strong demand for them and because the World Wide Web enables them to be easily accessed by all of those who want them – or need them – the demand has continued to grow exponentially.
Short term cash advances, with clearly defined costs and well defined terms, have made a real difference to many people, people who have a lot to thank easy payday loans for.