With many payday loans bad credit need not be a problem. A payday loan may be able to help you through a financial rough spot and will actually have a positive affect on your credit score if you pay it off on time.
You may be in financial straits and in need of fast cash. Perhaps, you have a steady income and should be able to repay your loan by the next paycheck. And you may only need a relatively small amount to tide you over, say, from $100 to $1,000. If so, and you have a below average credit rating, you could be a good candidate for payday loans bad credit accepted.
Payday loans bad credit applicants can get approved for
Why do payday loans exist? There are several reasons. First, traditional bank loans are almost never approved for small sums, for super-short terms, on short notice, and to those who have damaged credit.
Payday loans, on the other hand, are everything traditional loans are not. They fill a gap in the lending market that other loan-types simply don’t fill.
Even applicants with “bad” or “poor” credit can normally get approved for a payday loan. The reason is that payday loans are based on your income (ability to repay the loan) and not on your credit history. In fact, many payday lenders may even forego to run a credit check.
The benefits of online payday loans
Today, you can find payday lenders who will allow you to complete all or most of the payday loan process online. This saves you the hassle of “driving downtown” to a physical location and waiting in line to fill out the necessary paperwork.
You may need only to fill out a short online form, asking for basic personal and financial information. Approval often follows instantaneously. It can really be that quick and simple.
And your borrowed cash can be deposited in your bank account within one or two business days (or less) of loan approval. Once arrived, you are free to use the money as you see fit.
Why choose Bonsai Finance?
At Bonsai Finance, we can help you find a number of different short-term loan options, including online payday loans for bad credit. We offer you a fast, convenient process with minimal hassle and quick delivery of your borrowed cash.
We have only the most basic requirements for loan approval. If you are 18 or older, have an active US based bank account, and do not currently owe on a payday loan to us or someone else, you will likely be approved.
We look at your ability to repay and not at your past credit history in determining payday loan approval. And for that reason, we do not need to run a credit check.
We offer you competitive rates and fees and always work with you to ensure you can handle the loan amount and repay on time, so you will help and not hurt your credit score.