Payday loans or payday advances are cash advances that are lent to a consumer who has an immediate need for a cash for certain type of expenditures like major car repairs, medical or travel emergency, etc.. These come in handy and very useful for sudden expenses that arise in between the pay periods. A consumer’s salary serves as his guarantee for the credit so the foremost qualification when applying for a payday cash advance is that you are contracted for employment.
Other qualifications include:
1) Age – must be 18 years or older
2) Bank Account – should have a checking account
3) Must have paycheck stubs or records available