Under same day payday loans, the entire loan process right from the application to its processing and the loan fund disbursement is completed within the same day. These loans can be processed quickly because the loan eligibility criteria are very easy to fulfill. You only need to be 18 years of age or older, should be a valid citizen of the country, should have a valid checking account and your stable source of income should not be less than $1000 per month to be eligible for the loan. You must be able to repay the loan debt within the due date to avoid extra compound rates and late payment fees that makes the loan considerably expensive. The credit history or credit rating of the applicants is not checked and the loan is sanctioned purely based on the regular income potential of the borrowers. The lending company provides these highly risky loans for a very short term loan period and the loan amount also is very less.    

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    June 2012