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This process can take anywhere from a few minutes to a few days, depending on the bad lender. Payday loans are short-term loans that are typically due on your next payday. As a result, they may be able to offer lower interest rates on personal loans than banks or other for-profit lenders.
That means you don't have to take time out of your busy schedule to go somewhere in person. These loans often have much higher interest rates and fees than online loans or traditional loans, which can make them difficult to repay.
Credit lines for unbanked people. This can make cash advances on credit cards a very expensive way to borrow money.