If you are looking for a short term loan and have a job, a checking account, and a social security number and are in immediate need of money, then you should look into getting a payday loan. Now, with payday loans you need to be extremely careful which company you get your loan from and you also want to make sure that you’ll be able to pay that loan back in a short amount of time.
Some loan companies offer loans up to $2,500 and can give you the option of paying the loan back in 100 days. This is ample time to pay the principle of the loan back, along with the interest. You should be aware that payday loans have the highest APR % in the industry, so just be aware of that. What is APR you ask? It’s the Annual Percentage Rate of the interest on the loan you have to pay back.
When it comes to payday loans, the APR has been known to be as high as 500%+. People with good credit and access to any type of loan they need, would laugh at this percentage and never take such a loan. However, for those with horrible credit and no other options available to them, it is a god send.
Many people, however, get themselves in a lot of debt trouble because they end up missing a couple of these payments, and by the time they can catch up, it’s too late and from that moment on all the payments are pretty much going to the principal.
Don’t let that deter you though. Most people do end up being able to pay the loan back and are able to get back on track. Payday loans for single moms is actually a much needed service and many single mothers are very happy that such a service exist. Without it, where would they get the money they so desperately need to pay for living expenses, food, and other problems that arise?
Therefore, if you need a payday loan, there are many places online that offer payday loans, but just make sure that they give you ample time to pay the loan back (such as 100 days +), and also that you are in a position to actually pay the loan back. If you need assistance in this matter, don’t hesitate to email us and we will help you out as much as possible.