A payday loan is a short-term, high-interest loan. It is designed for people who need quick money before their next paycheck. The purpose of this loan is to provide money easily to take care of life's little emergencies. The usual amount of the loan is between $50 and $500.There are several payday lenders that offer this convenient financial services in some easy steps. For such loan, no bank application is required to submit. Their application requires borrower's contact information, banking information, employment information and contact information of a few friends and family who would receive their calls if borrower's fails to pay back their loan. It has minimal eligibility. So, pay day loans are used widely by the people to meet urgent need of money. http://www.kwikpayday.co.uk