other lenders are normally secured. This means that borrowers have to provide the lenders with collateral before they can be given a loan. Payday loans are normally unsecured and thus borrowers do not need to provide any collateral in order to get a loan. Their approval is quick Getting a loan from the bank can take ages due to the many procedures involved. There is also a lot of documentation involved thus it is quite tedious to get bank loans. Cash advances have less paper work and therefore it is easier to apply for and less work is involved in the application process. Short repayment period Payday loans normally have a short repayment period. This allows the borrower to be able to finish the burden of having to repay for a loan in the least time possible. Loans that take long to repay are normally quite stressful. Bad-credit lending Most companies that lend these loans do not consider an individual's credit rating. Therefore people who have past credits from other companies can always take a loan from another company. The only thing that has to be considered in any payday loan company is whether one has funds to repay the loan or not. If the money to repay the loan are available then one is eligible for the loan.