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Payday loans are an increasingly popular way for borrowers who need money today to get it quickly and conveniently. As personal and other bank loans have become increasingly difficult to obtain, particularly for those without savings or who have poor credit histories, payday lenders have grown to a $40 billion dollar industry in the United States.

Payday loans can be obtained either online or in person at one of the 22,000 storefront locations that have popped up around the country. The borrower simply provides a bit personal information about themselves, their employment and wages and their bank, and the payday lender provides funds ranging from $50 to $5,000 at a fixed borrowing rate.

The loan is paid back via either a check that is post-dated or by the lender debiting the borrower’s account in a specified period of time; inability to pay or insufficient funds result in the loan being rolled over at an additional fee. There are many different lenders offering payday loans, and finding the firms that offer the most competitive rates can be daunting.

So Where Can You Get A Payday Loan In 24 Hours?

100 Day Loans

One of the top services for payday lending is This website provides a secure resource for borrowers, promising a seven-minute application process and quick loan approval time as well.

Borrowers are required to input their personal information (including social security number and bank account information) and are then matched with lenders willing to offer a payday loan; the site automatically finds the best terms available for each individual. offers payday loans for amounts up to $1,000, with terms varying based upon the borrower’s income, the state in which the loan is being issued, and the lender’s requirements. Residents of Arizona, Arkansas, Georgia, Oregon and West Virginia are not able to secure loans through this website.

Pay Day One

Another well-known payday lending company is Rather than acting as a clearing house website that finds the lowest rates, PayDay One actually lends borrowers the cash they need.

They offer what they call a Great Rate Guarantee, which offers borrowers a matching rate if they find a rate that they are eligible for that is lower than the one that PayDay One is offering. PayDay One’s application process is extremely fast, with loans generally being approved in a matter of minutes. The process can be completed either online or via telephone, and their website is secure.

Pay Day One has a reputation for offering extremely friendly customer service. They currently offer payday loans in twenty states; the states in which they operate can be found on their site, as can maximum dollar amounts, maximum lending periods and fees for each state.

Great Plains Lending Company

Great Plains Lending ( works slightly differently than the above mentioned lenders. They are a Native American owned and operated company located on the Otoe-Missouria Reservation, and although they offer similar quick-approval and fast deposit of money into a lender’s account, their shortest loan repayment period is four months, going up to fifteen months. The maximum amount that can be borrowed for a first time loan is $1,000, and successful repayment of a loan earns the borrower lower fees and higher loan maximums on future loans. Their website claims that their rates average 27% lower fees than payday loans if paid in a short period of time, but because of the extended payment period, fees add up quickly. There is no penalty fee for early payment.

Beware Of The Risks Of Payday Loans

Payday loans offer great flexibility to consumers who may have few other options, but they are not without risk. As with all financial transactions, it is important to make sure that you are not submitting personal financial information on unsecured websites or to financial institutions that have not been thoroughly investigated/accredited.

Scams abound; beware of a lender that approaches you, whether via mail, telephone or email, and if you have not taken out a payday loan, be especially careful not to provide personal information to anybody claiming to be collecting back payments. Should you receive a call along these lines, immediately contact your local consumer protection agency.

Payday Interest Rates

Finally, be aware that payday loans charge extremely high interest rates in exchange for their convenience and lax credit requirements; what may seems like an easy answer cab quickly create a bigger financial problem than the one you were originally trying to solve. APRs average well over 300%, and the majority of these loans are taken out by previous payday borrowers. Since many lenders are not required to check on previous payday loans, it may be far too easy for borrowers to take out a series of payday loans, incurring a cycle of debt for rollover fees that become impossible to pay. The payday loan industry has drawn a great deal of negative attention from government watchdogs and traditional banking institutions, as they are draws for the most vulnerable vendors and are often seen as predatory; nearly 40% of payday loans are taken out by borrowers who earn under $50,000 per year and have limited ability to pay the loans back . Many states have outlawed payday loans entirely , while others have created legislation that limits the maximum percentage that can be charged on a loan; the government has instituted specific protections for members of the U.S. military.

The best way for you to protect yourself from incurring the insane fees charged for payday loans is to avoid taking these loans out in the first place. Only take out a payday loan if you have exhausted all other options.