By Gaurav Bhola, MSM, Managing Editor
August 6, 2007
The payday industry has been providing short-term cash advance loans to consumers for years. These loans are accessible to consumers who may not have the option of obtaining cash from other sources, typically to meet the expenses till the following payday.
The industry has grown tremendously since the 1990s. As the role of traditional financial and banking markets changed, the scope of the payday industry grew. Hence, some consumers shunned by the traditional financial institutions found solace in borrowing from payday loan stores.
So far, over $40 billion in short-term cash advance loans have been provided to borrowers in need of cash flow to meet much needed expenses between paydays. Currently, there are over 22,000 payday advance locations across the nation and numerous payday loan online sites.
The no fax payday loan allows a borrower to get a personal loan in a fast and easy manner. This unique way of offering convenience to consumers has revolutionized the payday loan and cash advance industry. No longer do you have to wait for a decision, within a few minutes you will know whether you are approved or not. No fax payday loans also mean you have nothing to fax and no documentation is required.
