When applying for a payday loan online, lenders don’t require any fax to be submitted. A simple one-step application contains all the information a lender needs to make a decision. Every field in the form has to be filled out. Any missing information may disqualify you or cause your application to be declined. No faxing payday loans are much more convenient but this convenience comes at a price. Payday loans in general are more expensive than other types of loans.
No documents required
In addition to no faxing, there also won’t be any documents to submit. A lender can check your employment upon your consent. Since payday loans are small short-term loans, a lender doesn’t risk a large capital. The entire process takes place online. You will be contacted with terms and conditions that are subject to your acceptance.
Online approval 24/7
The loan is approved within a very short period of time. It usually takes less than 1 hour for a lender to approve or decline your application. The most common reason for declining is a low credit score or missing information. Your application is processed very fast but the information requires verification, which can take from several minutes to several hours.