When applying for a payday loan, you will come across different types of lenders who will want to offer you a loan for your immediate cash needs. Before accepting any offers, you must surf a few websites and compare the rates and terms offered by each of them so that you can choose one that offer the best rates and conditions. Something else you should consider is whether your lender is a direct provider of loans or a broker acting on behalf of a lender. It's always better to get your payday loan from direct lenders because the terms they offer are straight forward with no hidden charges or additional fees.

A broker on the other hand only acts on behalf of someone else and can therefore quote whatever interest rate he feels like and add extra fees for the trouble he's taking to get your loan approved. Furthermore a transaction through a direct lender will be much quicker than one from a broker.

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