A payday advance is perfect for anyone who doesn’t have a credit card or savings account. Although these loan companies have been around for several years, they’ve become more and more popular within the past five years or so. Maybe it’s because the economy isn’t doing too well, and the average person doesn’t have enough cash to meet all their expenses. In fact, I’ve even noticed a few payday advance lenders popping up in middle-class neighborhoods.

With expensive gas prices, inflated home prices, and the rising cost of food, we’re all likely to experience cash flow problems from time to time. When this happens, cash advance loan companies can help. These loans are popular because they don’t involve credit checks or collateral. Still, payday advance lenders have a few requirements.

1. Active bank account: Payday advance loan companies rarely issue checks. Instead, the loan is deposited into a checking or savings account. On the due date, the loan company automatically deducts the loan amount (plus interest). You don’t have to worry about mailing a check or buying postage. It’s that simple.

2. Must be employed: To qualify for a quick loan, you need “steady employment.” Most lenders require the same employer for at least 90 days. This shows stability.