A payday loan, also referred to as a cash advance, can get you out of some tight spots financially. If your paycheck is late or not quite enough to cover a short term emergency (rent, car problems, etc.), then a payday loan can provide you with a short term loan to cover the damage. Payday loans are available almost immediately; you can usually get a loan processed within a few hours and the funds are generally available by the next day, if not the same day. These loans are unsecured—meaning you don't need to provide collateral or prove you have good credit. This means they are great for people who don't have a lot of assets, or have bad or no credit.

When you get a payday loan, you have to pay it back by your next payday, along with interest. That means that most payday loan companies require you to furnish proof of income, usually in the form of faxed employment verification documents. What happens if you don't have a fax machine though, and don't have access to one? What if your car broke down and you can't leave your house until you get the money to have your car towed and repaired?

Fortunately a lot of lenders are now offering no fax payday loans. With a no fax payday loan, all you'll need to do is provide your email address, bank account number and routing number, and fill out some online forms. You won't need to fax anything. The majority of these no fax payday loans are automatically approved within a few hours. In the rare case that your loan isn't automatically approved, it will be reviewed by the lender manually, and if they have questions or concerns, they'll get in touch with you so you can work out the situation directly.

After your loan is approved and processed, it'll be directly deposited into the bank account you list. This is also the account from which the lender will withdraw the loan amount plus interest from on your next payday. Make sure that before you sign up, even if you do not have to verify employment, that you will have funds in your account, otherwise your account will be overdrawn. This process is automatic. The lender will make sure that you're aware of the interest rate before the loan is granted.

Interest on these loans can be significant, so make sure that you have a genuine emergency before taking out a no fax payday loan. A no fax payday loan is a great way to deal with certain emergencies, but these loans are not intended for regular use. So be responsible when you use a no fax payday loan. Ask yourself, "Do I have the capacity to pay back the loan? Did I check the interest rate? Is it 100% necessary I take out this loan? If I don't, will I lose my capacity to support myself or lose the roof over my head?" If the answers to these questions are "yes," then a no fax payday loan is what you need.