Payday loans are short term loans which do not need any collateral to get approved. These loans offer finances which assist the borrower to meet sudden emergencies. Interest rates are slightly higher because of its unsecured nature. Favorable rates can be achieved by applying online. : http://ezinearticles.com/?Payday-Loans-Flexible-Loans-To-Help-You-Meet-Urgent-Needs&id=1006532