Payday loans are the fastest, easiest, and arguably the most convenient way to get cash fast. But they’re not the best option when you want to borrow a significant amount without dealing with long-term financial implications. Luckily, there’s an online alternative: the best payday loan online. These sites offer quick funding for customers in need at lower interest rates than most banks allow on loans. And with sites like LendArc offering as little as 20% APR for your loan, it makes sense that more and more people have been turning towards these websites instead of their local bank branches.

Considering that the average small business loan lasts only 64 days, it’s not hard to see why these sites have become so popular. You can apply online instantly and get your money in just a few hours or even minutes if you grab one of their same-day express loans. 

When you get your first payday loan, you’ll be required to fill out an application that includes basic information such as your name, contact details, employer details, and more. Compared to most other types of loans available for small businesses, it’s not a very rigorous process.

Apply on the website of your chosen lender. Most sites will let you apply instantly just by clicking on a button. If not, you’ll have to fill in a simple application form and wait for the lender to get back to you with an approval or rejection. If approved, they’ll ask for your bank details so they can initiate an electronic transfer of funds from your account. They’ll also take a photo of you holding your ID card, which will make it easier for them to validate your identity when making payments and requests for additional cash. Once approved, most lenders can transfer money into your account within just one hour or less.