Payday loans can be defined in two ways. Payday loans are considered as the same term for a cash advance or paycheck advance. The second definition so that interest payday loans, small short term loan (usually up to $ 1,500) that do not require credit checks and aims to bridge the fiscal deficit, which takes place somewhere between the day of the previous month and the current month salary. Payday loans are usually given in cash. In safe mode, postdated checks issued by the borrower to the lender. A control, including a figure which is the total initial capital and interest, and a bear the date that coincides with the next payday of the borrower, the check is cashed by the lender or with a series of traditional or electronic bank borrowers.