There seems to be a belief that that payday loans are the only type of short term finance that one can use to meet their short term needs. Basically these loans have a a number of options under them and all of them are suited for different kinds of financial situations that prospective borrowers might be in. As a prospective borrower it is often very important to know which options you have and what you can do with them. This will help you to tally the requirements with you current financial situation.

The main disadvantage associated with depending on your job for income is that in one way or another the salary will come short this month or the next. This is often in areas of great importance like school fees for a child. You find that the trend in such situations is to borrow from family or friends and so on but this is often not a good option mainly because you will usually strain you relations and that is where payday loans come in. These loans are an open option that usually can be beneficial instantly to anyone. Recent innovations have seen many financial institutions that offer this service create online platforms that can help you gain these loans. As a result the efficiency levels in this area are increasing immensely. Here are some of the options you can utilize as a short term solution to your needs:

Low fee loans- These are basically loans that have low interest fees associated with them but have a very thorough approval process. This option is for those that actually have a strong credit score.

Online loans- This is an online version of the usual payday loans that you find at various financial institutions. They offer short duration on the loan, less than a month normally. The major advantage you get with this option is that there is no human interaction. As a result you will find that the approval process is faster and you don't have to wait in long ques to be served. Most sites take a few hours to approve your request and once approved the transfer to your account is processed.

Bad Credit Loans- Basically there isn't much to this option. It is more of a cash advance before your payday. they often are approved without even checking your credit score.

No Fax Pay Day Loans- This type of loan doesn't require the borrower to show proof. They are similar to the above mentioned loans but they are rare in institutions.

These are some of the options in which payday loans that can be a solution to your specific financial position.