Lenders today are more sensitive to the real-life needs of their clients than any time in the past. The loans that used to be offered by banks and credit unions were complicated products that would require long waiting periods while paperwork was being processed and credit checks were being done the old fashioned way.
Today, the options for payday loans are wonderful choices for people who need a smaller amount of money for a shorter term than would be offered by a conventional loan. There are many advantages to the use of the payday style loan.
First, the application process has been greatly streamlined and the waiting time for the money has been reduced to less than twenty four hours in most cases. When an application is filled out online, the money can be deposited into the checking account of the approved applicant the next business day.
Another advantage is that the loan is only designed to last until your next paycheck arrives, so the paying back of the loan is on a shortened schedule, making it a loan that will not require long years of payments that can cramp your finances into the future. The money is borrowed, paid back and the loan is closed, all within a short period of time.
For amounts of money of one thousand dollars or less, within the state of Illinois, the Payday Loan Streamwood option can take care of your short term need for cash. The requirements are straightforward and simple. You must be over the age of 18 and employed. Your job must pay at least one thousand dollars per month, and you need to have a valid checking account open.
With these simple requirements met, the application is a simple online process that can mean that you will have up to one thousand dollars in your account by the following day. Loan approval itself usually is done within mere minutes, so there is no suspense as to the status of your application once it is submitted.