Almost everyone knows that banks have changed their policies when it comes to lending money, especially if the loan is unsecured. Your credit score has to be excellent, your assets must be substantial and the bank has to be assured that you can pay them back quickly. New lending procedures has made life difficult for a lot of credit worthy people that need a short term loan for household or car repairs or to buy essential items for the kids.

If you have a slow payment history and have no savings to fall back on when there’s a financial emergency, you may be out of luck, unless you turn to a direct lender who will give you cash the same day once your loan request is approved. In fact, when you do a little online research you can find cheaper cash that you expected. The amount of online quick cash lenders has grown over the last few years, so it’s a competitive business with fluctuating fees and finance charges.

Direct lenders have been supplying people with cash for years, especially if they live from paycheck to paycheck. The financial crunch has expanded their client base and now you can get a same day cash loan with no credit check, no information verification and no collateral. All you need is a current checking account, a steady job and a current payroll stub and proof that you’re over 18. Once your application is approved, which only takes minutes, the cash will be in your checking account the same day. The only thing you need to do is pay the loan back with your next paycheck. The payday lender does charge a fee, but it’s possible to find a cheaper cash advance online loan by doing a little research before you commit to a direct lender.

Quick cash lenders can charge a flat fee or a percentage of the amount you borrow, so do the math before you sign an agreement. A flat fee may be a cheaper cash advance than a percentage that is based on the amount you borrow, or it could be the other way around. You can compare the fees charged by several online lenders and find one that suits your budget. Once you establish a history with a same day direct lender, you may be able to get a cheaper cash loan the next time you need one.