According to Ms. Sheron Williams of http://www.nofaxloans.me.uk/ these are the loans used for arranging the finance between the two paid dates. In case of credit card payments, if the individual is expecting his finance within the next 15 days and his credit card payments are expected in a day or two, he can arrange the finance through payday loans. With the new innovative idea of no faxing, it had got too easy to apply for a loan, the documents need not to mailed or faxed to the company. This also helps in quick approval of loans, as the document does not have to be verified, as the documents are not required.
The loan amount is directly transferred to the account through the electronic media. As the amount is directly transferred, so will be the payments. The person taking such loans should be confident enough that he would be able to arrange the finance till the stipulated date. The person applying for the loan should have a permanent income source, which is needed to be explained in the application form.