Cheap payday loan companies are there to help you out when you are in a fix and require money immediately. These payday loan companies have made the process of getting the loan too simple.

Only three steps are involved in the loan process:

Step #1: Filling up the loan application. You can do this from the comfort of your home online. Before you do this, ensure that the web site you are in is completely secured. Most of the websites are made secured and you can confidently input your personal information when you fill up the application form. It will take just a few minutes of your time. In order to apply for a cheap payday loan you just need to be 18 years old, have an email address, active checking account, and a regular source of income.

Step #2: Your application is electronically verified. No credit checking is ever undertaken. The moment your application is approved, you will find your checking account inflated with the loan amount. If the loan is approved before 5 PM you will get the money overnight and if the approval is done after that, then the next business day you get your money.

Step #3: This step involves repayment of the loan. You have nothing to do. The loan amount along with fees will be debited to your account by the lender on the date specified, which generally is your next paycheck day.

Regarding repayment you have an option to defer your payment if you want. For this you have to intimate your lender 24 hours before the repayment due date. For this you might have to pay a fee depending upon the amount you have borrowed. Repayment option can be used for a maximum of four times thereafter you have to pay off the whole loan amount.

Hence, when you are looking for a cheap payday loan company, do some research before you take the plunge. visit the site