An unsecured personal loan allows you to borrow between $1,000-$15,000. To qualify for the loan you must meet certain credit and income requirements.Collateral also may be required for the higher loan amounts.
A payday loan or cash advance loan allows you to borrow under $999. The repayment term of these loans is very short -- approximately two pay periods. These loans may be very expensive if the terms is extended; however, there is no credit check required for the application.
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