Imagine that you’ve just been in a car accident, your washing machine died, or your kid put a baseball through the neighbor’s window. Events like these typically aren’t ones that we prepare for, especially financially. Unfortunately, during these unexpected situations, we too often find ourselves in need of money to cover costs. Because so many of us are living paycheck to paycheck and aren’t prepared for unanticipated expenses, we may not have money readily available.

Payday loans are a quick and easy way to borrow money when confronted with unexpected costs. Qualifying for these small and short-term loans is straightforward. As a borrower, all you need is an active bank account, a regular source of income and identification. It doesn’t matter if you have a low credit score as lenders won’t check it when determining your eligibility for a payday loan.

When taking out a payday loan, as the borrower you write a check to the lender for the full amount of the loan plus the charge for the loan. If by the end of the term, typically two weeks, you haven’t repaid the loan, the lender deposits the check. You can prevent this by either repaying the loan amount in full or rolling it over for another two weeks at an additional charge.

With loan amounts between $50 and $1,000, payday loans are great when a small amount of money is needed right now. Say your washing machine dies, you just spent your last paycheck remodeling your bathroom, and you won’t have money for a new washing machine until you get your next paycheck. Payday loans are designed to cover unforeseen costs that can’t be covered between paydays, hence their name.

Once you’ve applied for a payday loan, you can be approved within as little as 30 minutes. This means that you can immediately afford to buy a new washing machine. Then once your next paycheck comes in, you repay the loan and avoid paying outrageous amounts of interest. The best part is, you don’t have to wear dirty clothes for two weeks because you’re able to afford a new washing machine right now.

When used correctly, payday loans are great for getting through some of life’s sudden financial challenges. With payday loans, up to $1,000 can be borrowed in as little as half an hour. Having few requirements, it’s a simple process to qualify for payday loans.