You may have already heard about payday loans and how they can provide you with the cash you need in between paychecks, but did you know that there are different types of cash advances? In fact, you have several options to choose from when you decide to apply for a payday loan, each with its own advantages. Here’s a list of loan types to help you decide which loan will work best for you and your unique situation:

* Online payday loan – An online payday loan is a convenient, no-hassle way to get the cash you need fast. You simply fill out an application from an online lender, provide the necessary information, and wait to see if your request is approved. Online lenders typically do not run credit checks if you are a U.S. citizen at least 18 years of age and have a checking account and minimum monthly income of $1,000. If your application is approved, you can usually expect money with 24 hours. Repayment terms are usually based on a two-week timeframe, and at the time of repayment, the lender will simply withdraw the borrowed amount plus the fee charged for the loan.

* Bad credit payday loan – Bad credit payday loans work just like other cash advances, only these lenders do not run a credit check. So even if you do have bad credit, you can still get the money you need between paychecks. The only real difference between a bad credit payday loan and other cash advances is that you may be charged a slightly higher fee for your loan. Be sure to find out exactly what this fee will be before you accept the loan terms.

* Low fee payday loan – Low fee payday loans work exactly as they sound. These cash advances come with a lower fee than other types of payday loans, but they may have stricter requirements for their borrowers. In all other respects, however, these loans are very similar to their counterparts, with the same loan amounts and repayment terms.

* 30 day payday loan – These payday loans work best for people who receive their paychecks monthly. Thirty day cash advance lenders have adjusted their repayment schedules from the more common 14-day term to work with people who don’t get paid bi-weekly.

* Instant payday loan – Lenders of instant payday loans promise you fast cash. If your application is approved, you can have the money you need in a very short time frame. Applications are usually done online, with a representative emailing or calling you to complete the process. Once the loan is approved, you can withdraw your money the next business day, or as an even faster alternative, you can have it wired directly to your account for an extra fee.

Now that you know more about the types of cash advances available, you only have to decide which payday loan will work best for you. Consider the pros and cons of each loan type, and determine how it will fit in with your financial situation. You can also talk to a lender for more information and guidance on which loan will be your best option.