Payday loans are also popular as cash advance loans, paycheck loans, check loans and payroll advance loans. These payday loans are mainly short term loans and available for 1-2 weeks and this period can be extended up to one month. Aimed at meeting borrowers? urgent cash needs, these loans are customized.

However, fulfilling some criteria is the main requirement in order to avail payday loans. The criteria are mentioned briefly; Borrowers must have a fulltime employment. A regular and recurring income is necessary. Presence of an active checking account is also mandatory. Borrowers minimum income should be at least $1000. And the minimum age limit should be 18. If you meet these requirements you are qualified for a short-term loan commonly known as payday loans.